- Nucor’s 1Q EPS was $3.46, which did not meet the estimated $3.60.
- The company reported net sales of $8.14 billion, surpassing the estimate of $8.02 billion.
- The average scrap and scrap substitute cost per gross ton was $421, higher than the estimated $399.58.
- Sales tons to outside customers were lower than anticipated, at 6.22 million compared to the expected 6.41 million.
- The Q2 outlook for 2024 projects a decrease in earnings compared to Q1.
- The current consensus among analysts is 8 buys, 5 holds, and 3 sells for Nucor stock.
Nucor Corp on Smartkarma
Analyst coverage of Nucor Corp on Smartkarma by Baptista Research showcases a positive outlook on the company’s growth trends. In the report titled “Nucor Corporation: What Do The Growth Trends Look Like? – Major Drivers,” the analyst highlights Nucor’s robust financial performance in 2023. With earnings per share of $3.16 in Q4 2023 and an annual EPS of $18, Nucor has demonstrated commendable performance. The company’s net earnings over the past three years have surpassed the cumulative net earnings of the previous 20 years, indicating a strong financial trajectory.
A look at Nucor Corp Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 2 | |
| Growth | 5 | |
| Resilience | 4 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 3.6 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Assessing Nucor Corp‘s long-term prospects using the Smartkarma Smart Scores reveals a promising outlook. With a strong score in Growth (5), the company is poised for significant expansion and development in the future. Its Resilience (4) and Momentum (4) scores indicate a stable and rapidly advancing performance in the market. Additionally, Nucor scores well in Value (3), suggesting that it is reasonably priced with good potential for further growth. However, the company ranks lower in Dividend (2), indicating that it may not be the most attractive option for income-seeking investors.
Nucor Corporation, a steel manufacturing company, is known for producing a variety of steel products including carbon and alloy steel, steel joists, steel deck, cold finished steel, and more. In addition to its manufacturing activities, Nucor engages in brokering ferrous and nonferrous metals, processing scrap, and supplying ferro-alloys. The company’s positive Smart Scores in Growth, Resilience, and Momentum suggest a bright future ahead, supported by its strong market position and product diversity.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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