Analysts on Wall Street project that Nucor (NUE) will announce quarterly earnings of $1.95 per share in its forthcoming report, representing an increase of 59.8% year over year. Revenues are projected to reach $7.68 billion, increasing 8.5% from the same quarter last year.
The consensus EPS estimate for the quarter has been revised 0.3% higher over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
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.
That said, let's delve into the average estimates of some Nucor metrics that Wall Street analysts commonly model and monitor.
Based on the collective assessment of analysts, 'Net sales to external customers- Steel products' should arrive at $2.54 billion. The estimate points to a change of +7.3% from the year-ago quarter.
The consensus estimate for 'Net sales to external customers- Steel mills' stands at $4.73 billion. The estimate points to a change of +11.4% from the year-ago quarter.
The consensus among analysts is that 'Net sales to external customers- Raw materials' will reach $497.01 million. The estimate indicates a change of +8.3% from the prior-year quarter.
The combined assessment of analysts suggests that 'Net sales to external customers- Structural' will likely reach $625.62 million. The estimate indicates a year-over-year change of +9.6%.
It is projected by analysts that the 'Sales in Tons Outside Customers - Total steel products' will reach 1070 thousands of tons. Compared to the present estimate, the company reported 968 thousands of tons in the same quarter last year.
The collective assessment of analysts points to an estimated 'Average Steel Product Price per ton' of 2374 dollars per tonne. Compared to the present estimate, the company reported 2448 dollars per tonne in the same quarter last year.
Analysts forecast 'Average sales price per ton (Steel) - Total Steel Mills' to reach 1013 dollars per tonne. The estimate is in contrast to the year-ago figure of 926 dollars per tonne.
Analysts predict that the 'Sales Tons to outside customer (Steel) - Total Steel Mills' will reach 4796 thousands of tons. Compared to the current estimate, the company reported 4580 thousands of tons in the same quarter of the previous year.
Analysts expect 'Sales Tons to outside customer (Steel) - Sheet' to come in at 2234 thousands of tons. Compared to the present estimate, the company reported 2210 thousands of tons in the same quarter last year.
Analysts' assessment points toward 'Sales Tons to outside customer (Steel) - Bars' reaching 1499 thousands of tons. Compared to the present estimate, the company reported 1445 thousands of tons in the same quarter last year.
The average prediction of analysts places 'Sales Tons to outside customer (Steel) - Structural' at 461 thousands of tons. The estimate is in contrast to the year-ago figure of 441 thousands of tons.
According to the collective judgment of analysts, 'Sales Tons to outside customer (Steel) - Plate' should come in at 604 thousands of tons. Compared to the current estimate, the company reported 484 thousands of tons in the same quarter of the previous year.
View all Key Company Metrics for Nucor here>>>
Shares of Nucor have demonstrated returns of +6.6% over the past month compared to the Zacks S&P 500 composite's -0.4% change. With a Zacks Rank #3 (Hold), NUE is expected to mirror the overall market performance in the near future. 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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