Nucor This fall Earnings: Income Beat, EPS Beat, Metal Shipments Down 2%, Market Situations ‘Beginning To Enhance’ – Nucor (NYSE:NUE)

Nucor Corp NUE reported fourth-quarter monetary outcomes after the market shut on Monday. Right here’s a take a look at the important thing metrics from the quarter.

This fall Earnings: Nucor reported fourth-quarter income of $7.08 billion, beating analyst estimates of $6.76 billion, based on Benzinga Professional. The steelmaker reported fourth-quarter earnings of $1.22 per share, beating analyst estimates of 65 cents per share.

Complete income was down 8% on a year-over-year foundation. Nucor mentioned it shipped roughly 6.06 million tons to outdoors prospects through the quarter. Common gross sales worth per ton decreased 10% year-over-year. Complete metal mill shipments fell 2% year-over-year.

Nucor ended the quarter with $4.14 billion in money, money equivalents and short-term investments available. The corporate famous that its $1.75 billion revolving credit score facility stays undrawn and doesn’t expire till November 2026.

“Whereas metal demand softened all through 2024, market circumstances are beginning to enhance and will acquire momentum as we work our approach into 2025. The U.S. financial system continues to be on the entrance finish of a number of steel-intensive megatrends and as America’s largest and most diversified metal producer, Nucor is nicely positioned to produce these wants,” mentioned Leon Topalian, chair, president and CEO of Nucor.

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Nucor mentioned it repurchased roughly 2.1 million shares of its frequent inventory through the quarter. The corporate’s board additionally declared a money dividend of 55 cents per share payable on Feb. 11 to shareholders of document as of Dec. 31.

Outlook: Nucor expects first-quarter earnings within the metal mills and metal merchandise segments “to be comparable” to the primary quarter of 2024, whereas earnings within the uncooked supplies phase are anticipated to lower.

“We count on larger company, administrative and tax impacts within the first quarter of 2025 than realized within the fourth quarter of 2024 which can lead to decrease internet earnings general,” the corporate mentioned.

Administration will additional focus on the quarter on a name with analysts and traders at 10 a.m. ET Tuesday morning.

NUE Worth Motion: Nucor shares had been up 0.97% in after hours, buying and selling at $123.15 on the time of publication Monday, per Benzinga Professional.

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Picture: Courtesy of Nucor Corp.