February 9, 2018 - 7:50 AM EST
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Free Research Report as Nucor’s Quarterly Sales Surged 29%; EPS Soared 140%

Stock Monitor: AK Steel Holding Post Earnings Reporting

LONDON, UK / ACCESSWIRE / February 09, 2018 / Active-Investors.com has just released a free earnings report on Nucor Corp. (NYSE: NUE). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=NUE. Nucor reported its fourth quarter and fiscal 2017 operating and financial results on January 30, 2018. The steel Company outperformed top- and bottom-line expectations. Register today and get access to over 1,000 Free Research Reports by joining our site below:


Active-Investors.com is currently working on the research report for AK Steel Holding Corporation (NYSE: AKS), which also belongs to the Basic Materials sector as the Company Nucor. Do not miss out and become a member today for free to access this upcoming report at:


Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Nucor most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:


Earnings Highlights and Summary

Nucor's consolidated net sales surged 29% to $5.09 billion in the fourth quarter of 2017 compared to $3.96 billion in Q4 2016. The Company's reported numbers exceeded analysts' estimates of $4.96 billion.

For fiscal year (FY) 2017, Nucor's consolidated net sales advanced 25% to $20.25 billion compared to $16.21 billion for FY16.

Nucor announced consolidated net earnings of $383.9 million, or $1.20 per diluted share, for Q4 2017. By comparison, the Company reported consolidated net earnings of $159.6 million, or $0.50 per diluted share, for Q4 2016.

Nucor's Q4 2017 results included a net benefit of $175.2 million, or $0.55 per diluted share, related to the impacts of US federal tax legislation enacted in December 2017. Nucor's Q4 2016 results included effects of a change in estimate related to the cost of certain inventories that resulted in a benefit of $77.6 million, or $0.16 per diluted share. The Company's earnings, adjusted for pretax gains, totaled $0.65 per share, ahead of Wall Street's estimates of $0.55 per share.

For FY17, Nucor reported consolidated net earnings of $1.32 billion, or $4.10 per diluted share, compared to $796.3 million, or $2.48 per diluted share, for FY16.

Operating Results

During Q4 2017, Nucor's average sales price per ton increased 14% compared to Q4 2016. The Company's total tons shipped to outside customers were 6.54 million tons in the reported quarter, reflecting an increase of 13% from the year earlier corresponding quarter. Total tons shipped to outside customers in FY17 were 26.49 million tons, representing an increase of 9% from fiscal 2016, while average sales price per ton increased 15%.

Nucor's total steel mill shipments increased 18% to 6.05 million tons on a y-o-y basis in Q4 2017, while downstream advanced 13% compared to the year ago same period. During Q4 2017, Nucor's average scrap and scrap substitute cost per ton used was $317, up 34% increase compared to $236 in Q4 2016. The average scrap and scrap substitute cost per ton used for FY17 was $307, representing a 35% increase from $228 in FY16.

During Q4 2017, Nucor's overall operating rates at its steel mills increased to 81%, compared to 72% in Q4 2016. The Company's steel mill operating rates increased to 85% for FY17 compared to 78% for FY16.

During Q4 2017, Nucor's total steel mill energy costs decreased approximately $1 compared to Q4 2016. The decrease from the year ago period was attributed to improved steel mill productivity as well as lower unit costs for electricity and natural gas. The Company's energy costs for FY17 increased approximately $1 per ton on a y-o-y basis due to higher unit costs for electricity and natural gas.

Cash Matters

As of December 31, 2017, Nucor had $999.1 million in cash, cash equivalents, and short-term investments and an untapped $1.5 billion revolving credit facility that does not expire until April 2021.

Stock Performance Snapshot

February 08, 2018 - At Thursday's closing bell, Nucor's stock dropped 4.04%, ending the trading session at $60.38.

Volume traded for the day: 3.36 million shares, which was above the 3-month average volume of 2.94 million shares.

Stock performance in the last three-month – up 4.66%; previous six-month period – up 5.67%; and past twelve-month period – up 3.60%

After yesterday's close, Nucor's market cap was at $19.84 billion.

Price to Earnings (P/E) ratio was at 15.45.

The stock has a dividend yield of 2.52%.

The stock is part of the Basic Materials sector, categorized under the Steel & Iron industry.


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Source: ACCESSWIRE Investor Awareness (February 9, 2018 - 7:50 AM EST)

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