Nucor Q3 net earnings $250M ($1.05/diluted), down 78% YoY; guidance Q4 down further

NUCOR CORP

2024-Q3 EPS reported $7.22 revenue$23,658,415,000

Adjusted EPS $1.49 ex-impairments; GAAP EPS $1.05 vs $4.57 Q3 2023 and $2.68 Q2 2024.
Net sales $7.44B, down 15% YoY; steel mill shipments -3% QoQ; average selling price -6% QoQ.
Steel mills segment earnings $309M (-65% QoQ); steel products $314M (-61% QoQ); raw materials -$66M.
Pre-operating costs $168M ($0.54/share); cash $4.86B; repurchased 2.5M shares at avg $156.07.
Outlook: Q4 earnings to decrease vs Q3 on lower steel mill prices/volumes and steel products weakness.

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