Categories Earnings, LATEST, Other Industries

Nucor Corporation (NUE): Q4 2019 Earnings Snapshot

— Nucor Corporation (NYSE: NUE) reported earnings of $107.8 million or $0.35 per share for the fourth quarter of 2019, compared to $646.8 million or $2.07 per share last year. Analysts expected earnings of $0.31 per share.

— Fourth-quarter net sales declined to $5.13 billion from $6.3 billion in the same period of last year, vs. $4.94 billion expected

— Average sales price per ton decreased by 16% from the fourth quarter of 2018

— A total of 6,486,000 tons were shipped to outside customers during the quarter, down 3% from last year

— Total steel mill shipments declined 2% year-over-year during the three-month period

— During the quarter, Nucor acquired TrueCore, an insulated metal panel manufacturing company with a facility in Laurens, South Carolina

— Nucor repurchased approximately 1.9 million shares at an average price of $54.61 per share in the fourth quarter

— Expects first-quarter 2020 earnings to increase sequentially; sees profitability of the steel products segment dropping quarter-over-quarter

Listen to publicly listed companies’ earnings conference calls along with the edited closed caption text

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