Edition:
United Kingdom

Nucor Reports Q1 Earnings Per Share Of $1.63


Tuesday, 23 Apr 2019 

April 23 (Reuters) - Nucor Corp ::NUCOR REPORTS RESULTS FOR FIRST QUARTER OF 2019.Q1 SALES $6.1 BILLION VERSUS REFINITIV IBES ESTIMATE OF $6.07 BILLION.Q1 EARNINGS PER SHARE $1.63.AVERAGE SALES PRICE PER TON IN Q1 OF 2019 DECREASED 4% COMPARED WITH Q4 OF 2018.AVERAGE SCRAP AND SCRAP SUBSTITUTE COST PER TON USED DURING Q1 OF 2019 WAS $352, A 2% DECREASE COMPARED TO $359 IN Q4.EARNINGS IN Q2 OF 2019 ARE EXPECTED TO BE SIMILAR TO Q1 OF 2019, EXCLUDING GAIN ON SALE OF EQUITY METHOD INVESTMENT.PERFORMANCE OF STEEL MILLS SEGMENT IN Q2 OF 2019 IS ANTICIPATED TO BE CONSISTENT COMPARED TO Q1 OF 2019.AS EXPECTED, EARNINGS FROM COMPANY'S STEEL MILLS SEGMENT IN Q1 OF 2019 DECREASED FROM Q4 OF 2018.PERFORMANCE OF RAW MATERIALS SEGMENT IS EXPECTED TO DECREASE IN Q2 OF 2019 AS COMPARED TO Q1 OF 2019.6,767,000 TONS WERE SHIPPED TO OUTSIDE CUSTOMERS IN Q1 OF 2019, A 1% INCREASE FROM Q4 OF 2018.Q1 EARNINGS PER SHARE VIEW $1.50 -- REFINITIV IBES DATA.PROFITABILITY OF NUCOR'S STEEL PRODUCTS SEGMENT IN Q2 OF 2019 IS EXPECTED TO SIGNIFICANTLY IMPROVE AS COMPARED TO Q1 OF 2019.OVERALL, NUCOR IS WELL-POSITIONED FOR CONTINUED GROWTH AND SUCCESS.NUCOR - WEAKENING MARGINS FOR SHEET AND PLATE MILL PRODUCTS IN Q2 EXPECTED TO BE OFFSET BY IMPROVING MARGINS FOR STRUCTURAL AND BAR MILL PRODUCTS.NUCOR - PERFORMANCE OF RAW MATERIALS SEGMENT EXPECTED TO DECREASE IN Q2 VERSUS Q1 DUE TO FURTHER MARGIN COMPRESSION IN DRI BUSINESSES.DRI BUSINESSES HAS EXPERIENCED DECLINING AVERAGE SELLING PRICES SINCE Q4 OF 2018.