On July 24, 2023, NUCOR CORPORATION ($NYSE:NUE) reported its Q2 FY2023 earnings results for the period ending on June 30, 2023. Total revenue for the quarter dropped by 19.3% to USD 9.5 billion, compared to the same period a year earlier. Likewise, net income decreased by 43.0% to USD 1.5 billion.
NUCOR CORPORATION reported its financial results for the second quarter of FY2023 which ended on June 30, 2023. The company’s stock opened at $164.8 on Monday and closed at $166.6, up by 1.7% as compared to the previous closing price of 163.8. This marked a significant increase from its opening price and a substantial growth in NUCOR CORPORATION’s stock performance since the start of the quarter. The company continues to benefit from cost-cutting measures and has been investing heavily in technology and automation to improve efficiency.
Overall, NUCOR CORPORATION reported strong results for the second quarter of FY2023 and investors seem to be pleased with the company’s performance. With a strong balance sheet and an optimistic outlook for the future, the prospects for further growth in the company’s stock remain positive. Live Quote…
About the Company
Ownership (Institutional/ Fund Holdings)
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At GoodWhale, we recently analyzed NUCOR CORPORATION‘s financials and came up with a Risk Rating of medium risk. This means that from a financial and business perspective, NUCOR CORPORATION is a medium risk investment. We detected two risk warnings in their income sheet and balance sheet, and we invite you to register with us to see what those are. We understand that not all investments can be considered safe or low risk. Nevertheless, our analysis provides a comprehensive overview of any company’s fundamentals so that you can make the best decisions about your investments. With our analysis you can rest assured that you are making informed decisions. More…
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Nucor Corp is an American steel company that produces steel and steel products. It is the largest steel company in the United States, and the largest mini-mill steelmaker in the world. Nucor competes with Yieh United Steel Corp, Daehan Steel Co Ltd, Takasago Tekko KK, and other steel companies.
– Yieh United Steel Corp ($TPEX:9957)
Yieh United Steel Corp is one of the largest integrated steel producers in the world, with a capacity of 18.9 million tons of crude steel per year. The company has a market capitalization of $19.92 billion and a return on equity of 19.87%. Yieh United Steel Corp is engaged in the production and sale of steel products, including hot and cold-rolled coils, galvanized steel coils, pre-painted steel coils, stainless steel coils, and carbon steel products. The company also produces and sells steel pipes, bars, wire rods, plates, and other steel products.
Daehan Steel Co Ltd is a South Korean steel manufacturer with a market cap of 234.87B as of 2022. The company has a return on equity of 32.84%. Daehan Steel Co Ltd produces a variety of steel products including hot and cold rolled steel, steel plates, and pipes. The company has a wide range of customers including major corporations in the automotive, shipbuilding, and construction industries.
– Takasago Tekko KK ($TSE:5458)
Takasago Tekko KK is a Japanese company that manufactures and sells metal products. The company has a market cap of 2.49 billion as of 2022 and a return on equity of 15.21%. Takasago Tekko’s products include steel pipes, steel sheets, and aluminum products. The company also provides engineering and construction services.
NUCOR CORPORATION saw a significant drop in total revenue and net income in its second quarter of FY2023, compared to the same period in the prior year. Revenue decreased by 19.3% to USD 9.5 billion, while net income dropped 43.0% to USD 1.5 billion. Investors will want to closely examine the drivers behind this decline, such as changes in demand or pricing issues, to determine whether an investment in the company is still attractive. Additionally, they will likely want to compare these results to the company’s competitors to gain an understanding of its performance relative to the industry.