Nucor beats by $0.58, beats on revs; market conditions are starting to improve
- Reports Q4 (Dec) earnings of $1.22 per share, $0.58 better than the FactSet Consensus of $0.64; revenues fell 8.2% year/year to $7.08 bln vs the $6.76 bln FactSet Consensus.
- Q1 Outlook: Co expects earnings in the steel mills and steel products segments to be similar in 1Q25 as compared to 4Q24. Earnings in the raw materials segment are expected to decrease in 1Q25 relative to 4Q24. Co expects higher corporate, administrative and tax impacts in Q1 than realized in Q4 which may result in lower net earnings overall.
- "While steel demand softened throughout 2024, market conditions are starting to improve and should gain momentum as we work our way into 2025. The U.S. economy is still on the front end of several steel-intensive megatrends and as America's largest and most diversified steel producer, Nucor is well positioned to supply those needs."
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