Nucor Q3 2023 EPS $4.57, down 21% QoQ; guides Q4 lower on pricing weakness

NUCOR CORP

2023-Q3 EPS reported $14.83 revenue$27,008,970,000

Net earnings attributable to Nucor stockholders of $1.14B ($4.57 diluted EPS) vs $1.46B ($5.81) in Q2 2023 and $1.69B ($6.50) in Q3 2022.
Consolidated net sales $8.78B, down 8% QoQ and 16% YoY, with steel mill shipments down 4% QoQ.
Steel mills segment earnings $882.6M, down from $1.29B in Q3 2022; steel products earnings $806.7M vs $1.20B.
Returned $627M to stockholders via share repurchases and dividends; $3.5B remaining under $4B buyback authorization.
Q4 guidance: expects earnings decrease from Q3 due to lower pricing across all segments and planned DRI outages.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

NUCOR CORP reported the third quarter of 2023 results: revenue $8.78 billion, net income $1.14 billion, EPS $4.57 per diluted share.

Period: the third quarter of 2023
Revenue: $8.78 billion
Net income: $1.14 billion
EPS: $4.57 per diluted share
Result: reported results

Exact text from the filing

Fax 704-362-4208 www.nucor.com News Release Nucor Reports Results for the Third Quarter of 2023 (Continued) Financial Review Nucor’s consolidated net sales decreased 8% to $8.78 billion in the third quarter of 2023 compared with $9.52 billion in the second quarter of 2023 and decreased 16% compared with $10.50 billion in the third quarter of 2022. Average sales

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Source: SEC EDGAR

accession 0001193125-23-260894

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