Nucor Posts Q4 Earnings Beat, States It Sees An Increase In Q1 Earnings, Stock Rises
Portfolio Pulse from Ryan Gustafson
Nucor Corp (NYSE:NUE) reported Q4 earnings of $3.16 per share, surpassing estimates of $2.87 per share, with sales of $7.70 billion exceeding expectations of $7.65 billion. Despite a year-over-year decrease in sales and shipments, the company expects an increase in Q1 earnings for 2024. Nucor's stock rose 1.62% in after-hours trading following the earnings beat.
January 29, 2024 | 10:26 pm
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Nucor Corp reported higher-than-expected Q4 earnings and sales, and anticipates increased earnings in Q1 2024, leading to a 1.62% rise in stock price after-hours.
The positive earnings report and optimistic outlook for the next quarter typically lead to increased investor confidence and can drive the stock price up in the short term. The after-hours stock price movement reflects immediate market reaction to the news.
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