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Jul 03, 2021
Nucor Q2 2021 Earnings Report
Nucor reported record quarterly earnings, driven by robust demand and higher average selling prices.
Key Takeaways
Nucor Corporation announced record quarterly consolidated net earnings of $1.51 billion, or $5.04 per diluted share, for the second quarter of 2021. Net sales increased 25% to $8.79 billion compared to the previous quarter and 103% compared to the second quarter of 2020.
Nucor's second quarter earnings of $5.04 per diluted share marks the highest quarterly earnings in the Company’s history.
The steel mills segment and the steel products segment both set a record for the highest quarterly earnings before income taxes and noncontrolling interests in the second quarter of 2021.
Consolidated net sales increased 25% to $8.79 billion in the second quarter of 2021 compared with $7.02 billion in the first quarter of 2021.
Nucor expects to set a new record for quarterly earnings in the third quarter of 2021 as demand remains robust and virtually all the steel end use markets that they monitor are growing.
Revenue by Segment
Forward Guidance
Nucor expects earnings in the third quarter of 2021 to be the highest quarterly earnings in Nucor history, surpassing the record set in the second quarter of 2021.
Positive Outlook
- The primary drivers for the expected increase in earnings in the third quarter of 2021 are improved pricing and margins in the steel mills segment.
- Increased profitability across the steel mills segment, with the largest increase at our sheet mills.
- The steel products segment is expected to have increased earnings in the third quarter of 2021 compared to the second quarter of 2021.
- The raw materials segment are expected to have increased earnings in the third quarter of 2021 compared to the second quarter of 2021.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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