Jim Cramer Notes the Positive Impact of Tariffs on Nucor

Nucor Corporation (NYSE:NUE) is one of the stocks Jim Cramer recently talked about. Cramer discussed the impact of tariffs on the company’s earnings, as he commented:

“Look at Nucor go. Last night, this company, the biggest and best steel maker in America, if not the world, reported a magnificent quarter, sent the stock soaring. This is a little crazy because Nucor pre-announces earnings numbers a couple of weeks before the end of the, every quarter. So we usually have a pretty good read of results. This time, though, the company delivered a blowout earnings per share number with higher-than-expected sales, up 15% year-over-year. This is a steel company. How’d they do it? In large part, it’s because President Trump’s tariffs are almost an unmitigated positive for the steel industry… It’s much easier for Nucor to make money when the White House has a 50% tariff on imported steel. They’ve been dumping our steel for so many years, they have wrecked our market. No more.”

Nucor Corporation (NYSE:NUE) manufactures and sells steel and steel products, including sheet, plate, structural, and bar steel used in construction and manufacturing.

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Disclosure: None. This article is originally published at Insider Monkey.