Nucor Corp Earnings Cheat Sheet: Exceeds Forecasts with Boost of Profit Rise

S&P 500 (NYSE:SPY) component Nucor Corporation (NYSE:NUE) reported net income above Wall Street’s expectations for the second quarter. Nucor Corporation 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 Second Quarter

Results: Net income for the steel and iron company rose to $299.8 million (94 cents per share) vs. $91 million (29 cents per share) in the same quarter a year earlier. This is a more than threefold rise from the year earlier quarter.

Revenue: Rose 6% to $5.11 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: NUE beat the mean analyst estimate of 81 cents per share. Analysts were expecting revenue of $5.17 billion.

Key Stats:

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

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) and Friedman Industries (AMEX:FRD).

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(Source: Xignite Financials)