Nucor Corp. Earnings Cheat Sheet: Double-Digit Revenue Growth Continues

S&P 500 (NYSE:SPY) component Nucor Corporation (NYSE:NUE) reported net income above Wall Street’s expectations for the third quarter. Nucor and its affiliates manufacture steel and steel products for customers mainly located in North America.

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Nucor Earnings Cheat Sheet for the Third Quarter

Results: Net income for the steel and iron company rose to $181.5 million (57 cents per share) vs. $23.5 million (7 cents per share) in the same quarter a year earlier. This marks a substantial increase from the year earlier quarter.

Revenue: Rose 3% to $5.25 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: NUE beat the mean analyst estimate of 51 cents per share. It beat the average revenue estimate of $4.87 billion.

Key Stats:

The company has now topped analyst estimates for the last four quarters. It beat the mark by 13 cents in the second quarter, by 15 cents in the first quarter, and by 8 cents in the fourth quarter of the last fiscal year.

Looking Forward: Over the past sixty days, the outlook for the company’s performance next quarter has become increasingly unfavorable. The average estimate for the fourth quarter is 52 cents per share, a drop from 63 cents. At $2.53 per share, the average estimate for the fiscal year has fallen from $2.75 ninety days ago.

Competitors to Watch: Steel Dynamics, Inc. (NASDAQ:STLD), AK Steel Holding Corp. (NYSE:AKS), United States Steel Corp. (NYSE:X), Universal Stainless & Alloy Products (NASDAQ:USAP), Grupo Simec S.A.B. de C.V. (AMEX:SIM), Gerdau SA (NYSE:GGB), Worthington Industries, Inc. (NYSE:WOR), Schnitzer Steel Industries, Inc. (NASDAQ:SCHN), Friedman Industries (AMEX:FRD), and Evraz Highveld Steel & Vandium Ltd (HGVLY).

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(Source: Xignite Financials)