For the second quarter, Nucor (NYSE: NUE) saw a rise in net income, beating Wall Street expectations. To gain insight into why the company reported as it did, investors might review the company's industry, financials, and commentary.
Earnings and Revenue:
Nucor managed to beat EPS estimates, though the company's revenues failed to top expectations. The company reported EPS of 94 cents/share versus the 81 cents/share estimate and revenues of $5.11 billion versus the $5.17 billion estimate. EPS rose 224.1% while revenue climbed 21.7% from the same period last year.
Year over year revenue increases in the past five quarters have averaged 37.4%, second quarter of the last fiscal year saw the biggest increase, when revenue rose 69.3% from the year earlier quarter. The company has enjoyed double-digit year-over-year revenue growth for the past five quarters. During that time, the company has averaged growth of 37.4%, with the biggest boost coming in the second quarter of the last fiscal year when revenue rose 69.3% from the year earlier quarter.
Income:
For the year, Nucor reported net income of $1.80 per share. The company trumped analyst projections of $1.08 by 66.7%. According to the reported number, the company's income rose 229.4% from last year's levels.
Industry:
Nucor is in the steel-producers industry. That industry is currently enjoying price/earnings growth of 2.1%. With its recently reported EPS, the company is trailing the industry's estimate average by 72.1%.
What to Do Next:
Now you're all set to decide what to do with those Nucor shares until the next earnings announcement. Whether you buy, sell or hold, check back with before the company's next earnings release for a full preview.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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