NUCOR CORPORATION Reports Second Quarter Earnings for FY2023
August 22, 2023
🌥️Earnings Overview
On July 24 2023, NUCOR CORPORATION ($NYSE:NUE) released their earnings report for the second quarter of FY2023, which ended on June 30 2023. The company reported a total revenue of USD 9.5 billion, a decrease of 19.3% from the same quarter in the prior year. Additionally, net income was registered at USD 1.5 billion, a decrease of 43.0% year-over-year.
Share Price
After the announcement, the stock opened at $164.8 and closed at $166.6, showing a 1.7% increase from the previous closing price of 163.8. This was a positive indication of how the company’s earnings had performed in the second quarter. The company attributed its growth to strong demand for steel products and higher selling prices. NUCOR CORPORATION also announced that it plans to invest in new technologies and research and development projects to remain competitive in the market and to increase its global presence.
NUCOR CORPORATION’s stock performance on Monday showed that investors are positive about the company’s financial performance and long term growth prospects. The company’s performance is expected to remain strong in the coming quarters as it continues to focus on developing new products and expanding its customer base. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Nucor Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 37.46k | 5.53k | 15.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Nucor Corporation. More…
| Operations | Investing | Financing |
| 8.47k | -2.55k | -3.49k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Nucor Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 33.38k | 12.44k | 80.22 |
Key Ratios Snapshot
Some of the financial key ratios for Nucor Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 22.2% | 76.5% | 20.7% |
| FCF Margin | ROE | ROA |
| 17.2% | 24.8% | 14.5% |
Analysis
GoodWhale has recently analyzed NUCOR CORPORATION with the help of our financial analysis tools. The Risk Rating of NUCOR CORPORATION has been determined as Medium Risk, taking into account various financial and business aspects. However, our advanced financial tools have detected two risk warnings in the income sheet and balance sheet of NUCOR CORPORATION. If you are interested to know more about these risks, we suggest that you register with us and explore our detailed assessment of the risks for yourself. More…
Peers
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 $19.92 billion and a return on equity of 19.87%. Yieh United Steel Corp is engaged in the production and sale of steel products, including hot and cold-rolled coils, galvanized steel coils, pre-painted steel coils, stainless steel coils, and carbon steel products. The company also produces and sells steel pipes, bars, wire rods, plates, and other steel products.
– Daehan Steel Co Ltd ($KOSE:084010)
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.
Summary
NUCOR CORPORATION reported second quarter FY2023 results on July 24 2023. Revenue for the quarter saw a 19.3% decrease year-on-year to USD 9.5 billion, while net income dropped 43.0% to USD 1.5 billion. Investors should be aware that despite a general decline in performance, NUCOR CORPORATION is still a strong performer in its industry and may be an attractive investment opportunity. Long-term investors should consider the company’s ability to weather future economic challenges as they evaluate their portfolio.
Additionally, investors should research the company’s recent initiatives and strategic plans to ensure that they are up-to-date with the company’s objectives and performance goals.
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