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Source: kansascity.bizjournals.com --- 15 days ago
Kansas City-based American Compressed Steel Inc. will be acquired by Advantage Metals Recycling LLC for an undisclosed amount. (NUE) ... Source: memphis.bizjournals.com --- 34 days ago
Nucor Corp. reports a 68 percent increase in second-quarter earnings to $580.8 million, or $1.94 per diluted share, up from $344.9 million, or $1.14 per diluted share, a year ago. (NUE) ... Source: www.charlotte.com --- 34 days ago
Steel maker Nucor Corp. said today strong shipments and growing margins propelled its second-quarter profit 68 percent higher, but its third-quarter guidance was below Wall Street expectations. Its shares tumbled more than 8 percent. For the three months ended June 28, profit climbed to $580.8 million, or $1.94 per share, compared with $344.9 million, or $1.14 per share, a year ago. Revenue rose 70 percent to $7.09 billion from $4.17 billion a year ago. The average sales price climbed 24 percent, and the total amount shipped to outside customers jumped 38 percent to slightly more than 7.7 million tons. Analysts polled by Thomson Financial expected, on average, earnings per share of $1.83 on sales of $6.37 billion. The increases in sales and net earnings are also attributable to the significant acquisitions made by Nucor in the last 18 months, specifically, the acquisition of Harris Steel Group, Inc. in March 2007 and The David J. Joseph Company in February 2008, Nucor said in a statement. The company said it incurred an accounting expense during the quarter of 42 cents due to its LIFO, or last-in-first-out, inventory costing method. LIFO assumes the most recent inventory purchases or goods made are sold first, which in periods of rising prices results in an expense that eliminates inflationary profits from net income. Changes in LIFO are not writedowns, writeoffs or market adjustments; they are changes in cost components based o ...
Source: www.moreover.com --- 34 days ago
Industry Week Jul 17 2008 5:07PM GMT ... Source: www.charlotte.com --- 34 days ago
Shares of steel maker Nucor Corp. fell Thursday as investors focused on what appeared to be a disappointing third-quarter outlook instead of record second-quarter results. The stock closed down 11.1 percent – but not before dropping 15.9 percent in intraday trading. Since June 5, shares of Nucor have fallen more than 25 percent. Thursday's share price tumble came despite Nucor reporting that strong shipments and growing margins propelled its second-quarter profit 68 percent higher to $580.8 million, or $1.94 per share, from $344.9 million, or $1.14 per share, a year ago. Revenue rose 70 percent to $7.09 billion from $4.17 billion a year ago. The average sales price climbed 24 percent, and the total amount shipped to outside customers jumped 38 percent to slightly more than 7.7 million tons. The results easily beat the average estimates of analysts polled by Thomson Financial, who expected earnings per share of $1.83 on sales of $6.37 billion. For the third quarter, Nucor forecast earnings per share of $1.80 to $1.85 – below the $1.95 per share that analysts expect, according to Thomson Financial. That sent shares down sharply. But Soleil-Bradford Research analyst Charles Bradford said in a phone call with The Associated Press that “people misread the (third quarter) guidance, which was down because of May's share dilution.” On May 29, Nucor increased shares outstanding by 27.7 million shares, and at the end of June had 299.8 mill ... Source: www.zacks.com --- 36 days ago
Wall Street boosted forecasts on Nucor after the company announced higher guidance. This part was added on experimental basis to see the effect. This part was added on experimental basis to see the effect. This part was added on experimental basis to see the effect. This part was added on experimental basis to see the effect. This part was added on experimental basis to see the effect. This part was added on experimental basis to see the effect. This part was added on experimental basis to see the effect. This part was added on experimental basis to see the effect. ... Source: www.newsobserver.com --- 34 days ago
Steel maker Nucor Corp. said Thursday strong shipments and growing margins propelled its second-quarter profit 68 percent higher, but its third-quarter guidance was below Wall Street expectations. Its shares tumbled more than 8 percent. ... Source: commercialappeal.com --- 4 hours ago
Steel bars have started rolling out of the Nucor Steel plant in Frank C. Pidgeon Industrial Park, although the plant is still in startup-shakedown mode. ... Source: www.centredaily.com --- 1 day ago
Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Nucor Corp. (NYSE: NUE), Nordstrom, Inc. (NYSE: JWN), Ultra Clean Holdings, Inc. (Nasdaq: UCTT), Methanex Corp. (Nasdaq: MEOH) and Fred's Inc. (Nasdaq: FRED). ...
Source: www.recyclingtoday.com --- 49 days ago
... Source: www.industryweek.com --- 48 days ago
Recycling giant builds rebar business and cements its claim as the No. 1 U.S. steel processor. ... Source: www.wdsu.com --- 18 days ago
Steelmaker Nucor's potential plan to build a plant in Louisiana now represents as many as 1,250 direct jobs. ... Source: dex.rss --- 15 days ago
... Source: www.wdsu.com --- 11 days ago
Steelmaker Nucor says that it wants to break ground on a 500-employee iron plant in southeastern Louisiana in January. ... Source: www.industryweek.com --- 49 days ago
North Carolina federal court prohibits use of former employee's confidential information. ... Source: www.ncnn.com --- 34 days ago
(CHARLOTTE) -- Nucor Corp. reported a 68 percent jump in second quarter profits. The steel maker credits strong shipments and growing margins for the healthy quarterly earnings. ... Source: www.dividend.com --- 34 days ago
Nucor (NUE) just delivered what should have been a well-received 70% jump in the company’s revenue for the past quarter. But instead, the focus is on what management had to say about guidance. On Wall Street, it’s always about guidance. ... Source: www.topix.com --- 20 days ago
Daniel DiMicco, chairman, president and CEO for Nucor Corp., has been appointed to the United States Manufacturing Council by Commerce Secretary Carlos Gutierrez. ... Find more results for Nucor on RSSMicro.com |
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Filed under: Nucor Corp (NUE) By Alex Kolb, Zack's Investment Research Nucor Corporation (NYSE: NUE ) recently reported record second-quarter earnings of $1.94 per share, beating the consensus estimate by nearly 8% and topping the year-prior $1.14. Consolidated net sales of $7.09 billion also reached a record level, exceeding last year's $4.17 billion. For income, the company is yielding 2.3%, which well ahead of the industry average. Company Description Nucor and its affiliates, which make the most steel in America, manufacture steel products. The company's operating facilities are primarily in the U.S. and Canada. Nucor also brokers ferrous and nonferrous metals, pig iron and HBI/DRI; supplies ferro-alloys; and processes ferrous and nonferrous scrap. The company is also North America's largest recycler. Continue reading Nucor beats earnings estimates Permalink | Email this | Comments ...