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While NUE gains on its actions to grow through acquisitions and capacity expansion, weaker steel prices cast a pall on its prospects.
Investors need to pay close attention to Nucor (NUE) stock based on the movements in the options market lately.
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Nucor is one of the largest steelmakers in the United States. The steel industry is highly cyclical, rising and falling along with the economy.
Nucor NYSE: NUE is a basic materials firm that manufactures steel and steel products. It is the 14th largest firm in the metals and mining industry.
Nucor Corporation NUE shares are trading lower today. Yesterday, the company reported better-than-expected second-quarter financial results.
Nucor's (NUE) second-quarter earnings and sales beat estimates despite lower average selling prices and volumes in the steel mills unit.
The headline numbers for Nucor (NUE) give insight into how the company performed in the quarter ended June 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Nucor (NUE) came out with quarterly earnings of $2.68 per share, beating the Zacks Consensus Estimate of $2.31 per share. This compares to earnings of $5.81 per share a year ago.
Second Quarter of 2024 Highlights Net earnings attributable to Nucor stockholders of $645.2 million, or $2.68 per diluted share. Net sales of $8.08 billion.