Loading...
•
Oct 03, 2020
Nucor Q3 2020 Earnings Report
Nucor's earnings increased compared to the previous quarter but decreased compared to the same quarter last year.
Key Takeaways
Nucor Corporation reported consolidated net earnings of $193.4 million, or $0.63 per diluted share, for the third quarter of 2020. The results reflect continued strength in nonresidential construction and improved performance compared to the second quarter of 2020.
Consolidated net earnings were $193.4 million, or $0.63 per diluted share.
Net sales increased 14% to $4.93 billion compared to the second quarter of 2020.
Total tons shipped to outside customers were 6,367,000, a 16% increase from the second quarter of 2020.
The company expects improved performance in the fourth quarter due to positive pricing momentum in sheet and plate markets.
Revenue by Segment
Forward Guidance
Nucor expects higher earnings in the fourth quarter of 2020 as compared to the third quarter of 2020 due primarily to improved pricing at its sheet and plate mills. Nucor also expects the raw materials segment’s earnings to increase in the fourth quarter of 2020 as compared to the third quarter of 2020 due to the improved margins at the Company’s direct reduced iron facilities.
Positive Outlook
- Improved pricing at sheet and plate mills.
- Increased earnings in the raw materials segment.
- Improved margins at direct reduced iron facilities.
Challenges Ahead
- Ongoing COVID-19 pandemic continues to cause uncertainty.
- Difficult to accurately forecast future market conditions.
- Difficult to accurately forecast future demand trends.
- Many of the markets Nucor serves have typically experienced a seasonal slowdown in the fourth quarter.
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
Loading earnings performance data...
Loading earnings reaction data...