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.
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