Nucor (NYSE:NUE) First Quarter 2024 Results

Key Financial Results

• Revenue: US$8.14b (down 6.6% from 1Q 2023).
• Net income: US$844.8m (down 25% from 1Q 2023).
• Profit margin: 10% (down from 13% in 1Q 2023). The decrease in margin was driven by lower revenue.
• EPS: US$3.48 (down from US$4.47 in 1Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Nucor Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 1.9%. Earnings per share (EPS) also missed analyst estimates by 5.4%.

Looking ahead, revenue is forecast to stay flat during the next 3 years compared to a 4.8% growth forecast for the Metals and Mining industry in the US.

Performance of the American Metals and Mining industry.

The company's shares are down 9.4% from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 2 warning signs for Nucor (1 is a bit concerning!) that you need to be mindful of.

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