Nucor Q2 2024 EPS $2.68, down 54% YoY; guides Q3 lower on weak pricing

NUCOR CORP

2024-Q2 EPS reported $6.14 revenue$16,214,255,000

Net earnings attributable to stockholders of $645.2M ($2.68/diluted share), down from $1.46B ($5.81) in Q2 2023.
Net sales of $8.08B, down 15% YoY; total tons shipped 6.289M, down 5% YoY.
Steel mills segment earnings $645M, down 54% from Q2 2023; steel products segment earnings $441M, down 56% from Q2 2023.
Operating rate 75% in Q2 vs 84% a year ago; pre-operating costs $137M for growth projects.
Expects Q3 earnings to decrease from Q2 due to lower selling prices in steel mills and steel products segments.

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