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Sep 30, 2023
Nucor Q3 2023 Earnings Report
Nucor reported a decrease in net sales and earnings for Q3 2023 compared to both Q2 2023 and Q3 2022.
Key Takeaways
Nucor Corporation announced consolidated net earnings attributable to Nucor stockholders of $1.14 billion, or $4.57 per diluted share, for the third quarter of 2023. Net sales decreased by 16% compared to the third quarter of 2022.
Q3 2023 earnings per diluted share (EPS) was $4.57.
Net earnings attributable to Nucor stockholders for Q3 2023 was $1.14 billion.
Nucor returned $627 million to stockholders through share repurchases and dividends during the quarter.
Consolidated net sales decreased 16% to $8.78 billion in Q3 2023 compared to $10.50 billion in Q3 2022.
Nucor
Nucor
Nucor Revenue by Segment
Revenue by Segment
Steel Mills Revenue
CapyFin.comSteel Products Revenue
CapyFin.comRaw Materials Revenue
CapyFin.com Forward Guidance
Nucor expects earnings in the fourth quarter of 2023 to decrease compared to the third quarter of 2023 due primarily to lower pricing across all three operating segments, and, to a lesser extent, decreased volumes.
Challenges Ahead
- Lower pricing across all three operating segments.
- Decreased volumes.
- Decrease in realized pricing to be most pronounced at sheet mills.
- Decreased earnings due to moderating average selling prices at most of the product groups within the steel products segment and lower volumes.
- Lower pricing for raw materials and planned outages at DRI facilities.
Revenue & Expenses
Visualization of income flow from segment revenue to net income