Nucor Corporation Q3 2024 Earnings Guidance: What Investors Should Know

Wednesday, 18 September 2024, 12:53

Nucor Corporation has provided updates on its Q3 2024 earnings guidance. The company expects earnings per share between $0.87 and $0.97, reflecting current market challenges in the steel sector. Additionally, one-time charges are anticipated to significantly impact adjusted earnings, leading to a revised forecast of $1.30 to $1.40 per share. Investors should be alert to these developments as they could influence NUE stock performance.
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Nucor Corporation Q3 2024 Earnings Guidance: What Investors Should Know

Nucor Corporation Q3 2024 Earnings Guidance Overview

Steel manufacturer Nucor Corporation (NYSE: NUE) has announced its guidance for Q3 2024 earnings, indicating anticipated earnings per share (EPS) between $0.87 and $0.97. This forecast includes estimated one-time non-cash pre-tax charges of approximately $123 million, impacting adjusted earnings projections.

Q3 Performance Expectations

  • The adjusted EPS guidance is now refined to $1.30 to $1.40 per share.
  • Year-over-year earnings in the steel products segment are expected to decline due to reduced average selling prices and lower volumes.
  • Net income from raw materials is also forecasted to decrease compared to Q2 2024.

Shareholder Return Strategy

Nucor has actively repurchased around 2.5 million shares at an average price of $156.07. To date, the company has returned approximately $2.29 billion to shareholders through buybacks and dividends.

Comparative Earnings Insights

  • Nucor reported net earnings of $2.68 per share for Q2 2024.
  • For Q3 2023, the company had posted net earnings of $4.57 per share.

For more in-depth analysis and further details, visit the source.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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