Nucor Corp. (NUE) announced a decline in third-quarter profits compared to the previous year, though these figures surpassed Wall Street predictions.
The company's reported net income for the quarter was $249.91 million, translating to $1.05 per share. This is a decrease from last year's figure of $1.141 billion, or $4.57 per share for the same period.
When excluding one-time items, Nucor Corp.'s adjusted earnings totaled $352.99 million, or $1.49 per share. This result marginally exceeded the consensus estimate of $1.47 per share provided by analysts, based on data from Thomson Reuters. It's important to note that analysts' forecasts typically exclude extraordinary items.
Revenue for the quarter also saw a decline, dropping 15.2% to $7.444 billion from $8.775 billion in the prior year.
A summary of Nucor Corp.'s earnings (GAAP) is as follows:
- Earnings (Q3): $249.91 million, down from $1.141 billion last year.
- Earnings per share (EPS) for Q3: $1.05, compared to $4.57 last year.
- Revenue for Q3: $7.444 billion, versus $8.775 billion last year.
**Guidance**: The company projects EPS of $1.05 for the next quarter.
