Nucor Corp Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Nucor Corp (NYSE:NUE) will unveil its latest earnings on Thursday, October 20, 2011. Nucor and its affiliates manufacture steel and steel products for customers mainly located in North America.

Nucor Corp Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of 50 cents per share, a rise of more than sevenfold from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 74 cents. Between one and three months ago, the average estimate moved down. It also has dropped from 61 cents during the last month. For the year, analysts are projecting profit of $2.51 per share, a rise of more than fivefold from last year.

Past Earnings Performance: The company’s quarterly results have come in above estimates for the last three quarters. Last quarter, the company booked net income of 94 cents per share versus a mean estimate of profit of 81 cents per share.

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Wall St. Revenue Expectations: Analysts are projecting a rise of 17.6% in revenue from the year-earlier quarter to $4.87 billion.

Analyst Ratings: Analysts are bullish on this stock with eight analysts rating it as a buy, one rating it as a sell and four rating it as a hold. Over the past 90 days, the average rating for the stock has moved up from hold to moderate buy.

A Look Back: In the second quarter, profit rose more than threefold to $299.8 million (94 cents a share) from $91 million (29 cents a share) the year earlier, exceeding analyst expectations. Revenue rose 21.7% to $5.11 billion from $4.2 billion.

Key Stats:

The company has enjoyed double-digit year-over-year percentage revenue growth for the past four quarters. Over that span, the company has averaged growth of 29.5%, with the biggest boost coming in the third quarter of the last fiscal year when revenue rose 32.7% from the year earlier quarter.

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).

Stock Price Performance: During August 18, 2011 to October 14, 2011, the stock price had risen $4.25 (13.4%) from $31.63 to $35.88. The stock price saw one of its best stretches over the last year between March 16, 2011 and March 25, 2011 when shares rose for eight-straight days, rising 3.9% (+$1.72) over that span. It saw one of its worst periods between July 22, 2011 and August 4, 2011 when shares fell for 10-straight days, falling 15% (-$6.08) over that span. Shares are down $6.73 (-15.8%) year to date.

(Source: Xignite Financials)

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