Today, I am bringing you something very special. Not only is the featured stock in this Model Portfolio, it is also on my Focus List Stocks: Long Model Portfolio.
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.
The Nasdaq came back +280 points, or +1.58% today, while small-caps once again felt their oats.
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.
Lower earnings in the steel mills segment on weaker selling prices and volumes are likely to have hurt Nucor's (NUE) second-quarter results.
Nucor Corporation faces macroeconomic challenges with declining steel prices, offsetting with higher volumes, leading to tighter margins and potentially increased costs. Nucor acquires SWDP for $115mm, creating Nucor Data Systems for data center infrastructure, expanding presence in AI factory buildout. Legislation like the IRA, Infrastructure Bill, and CHIPS Act may provide relief for Nucor, but macroeconomic headwinds pose challenges.
Nucor (NUE) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
When a stock falls toward 52-week lows, it generally means that investors have soured on the shares. Stanley Black & Decker is in the middle of a business turnaround, but it is achieving success.