Nucor Stock Falls After Q3 Results, Weak Q4 EPS Guidance: Details
Portfolio Pulse from Erica Kollmann
Nucor Corp (NYSE:NUE) shares fell after reporting Q3 earnings that beat estimates but provided weak Q4 EPS guidance. Q3 earnings were $1.49 per share, above the $1.47 estimate, with revenue at $7.44 billion, down from $8.78 billion last year. The company expects Q4 earnings to decline to $1.05 per share due to lower steel prices and volumes.
October 21, 2024 | 9:35 pm
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Nucor's Q3 earnings beat expectations, but the stock fell due to weak Q4 guidance. The company reported $1.49 EPS, above the $1.47 estimate, and $7.44 billion in revenue. However, it expects Q4 EPS to decline to $1.05 due to lower steel prices and volumes.
Despite beating Q3 earnings expectations, Nucor's stock fell due to weak Q4 guidance, indicating potential challenges ahead with lower steel prices and volumes. This negative outlook is likely to pressure the stock in the short term.
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