In its upcoming report, Nucor (NUE) is predicted by Wall Street analysts to post quarterly earnings of $2.16 per share, reflecting an increase of 45% compared to the same period last year. Revenues are forecasted to be $8.16 billion, representing a year-over-year increase of 9.7%.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 1.4% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
Given this perspective, it's time to examine the average forecasts of specific Nucor metrics that are routinely monitored and predicted by Wall Street analysts.
The combined assessment of analysts suggests that 'Net sales to external customers- Steel products' will likely reach $2.64 billion. The estimate points to a change of +5.8% from the year-ago quarter.
It is projected by analysts that the 'Net sales to external customers- Steel mills' will reach $5.01 billion. The estimate suggests a change of +12.4% year over year.
Based on the collective assessment of analysts, 'Net sales to external customers- Raw materials' should arrive at $508.42 million. The estimate points to a change of +4.1% from the year-ago quarter.
Analysts forecast 'Net sales to external customers- Structural' to reach $605.09 million. The estimate indicates a change of +13.1% from the prior-year quarter.
Analysts expect 'Sales in Tons Outside Customers - Total steel products' to come in at 1143 thousands of tons. The estimate compares to the year-ago value of 1011 thousands of tons.
The collective assessment of analysts points to an estimated 'Average Steel Product Price per ton' of 2311 dollars per tonne. The estimate compares to the year-ago value of 2469 dollars per tonne.
Analysts' assessment points toward 'Average sales price per ton (Steel) - Total Steel Mills' reaching 1029 dollars per tonne. The estimate compares to the year-ago value of 967 dollars per tonne.
The consensus among analysts is that 'Sales Tons to outside customer (Steel) - Total Steel Mills' will reach 4983 thousands of tons. Compared to the present estimate, the company reported 4607 thousands of tons in the same quarter last year.
Analysts predict that the 'Sales Tons to outside customer (Steel) - Sheet' will reach 2434 thousands of tons. Compared to the current estimate, the company reported 2394 thousands of tons in the same quarter of the previous year.
The average prediction of analysts places 'Sales Tons to outside customer (Steel) - Bars' at 1564 thousands of tons. Compared to the present estimate, the company reported 1402 thousands of tons in the same quarter last year.
The consensus estimate for 'Sales Tons to outside customer (Steel) - Structural' stands at 455 thousands of tons. The estimate is in contrast to the year-ago figure of 406 thousands of tons.
According to the collective judgment of analysts, 'Sales Tons to outside customer (Steel) - Plate' should come in at 563 thousands of tons. Compared to the present estimate, the company reported 405 thousands of tons in the same quarter last year.
View all Key Company Metrics for Nucor here>>>
Over the past month, Nucor shares have recorded returns of +3.9% versus the Zacks S&P 500 composite's +1.1% change. Based on its Zacks Rank #4 (Sell), NUE will likely underperform the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Nucor Corporation (NUE): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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