The company exceeded revenue expectations in its steel mills segment, supported by higher average selling prices and strong shipment volumes. Following the announcement, the company’s shares gained approximately 5% in after-hours trading.
U.S. steel producers continue to benefit from rising prices driven by supportive trade policies, geopolitical tensions, and limited supply due to upcoming maintenance outages.
Nucor CEO Leon Topalian stated that the steel mills segment achieved a new quarterly shipment record, highlighting the contribution of recent capital investments and federal policies aimed at limiting unfair trade practices targeting the United States.
The Charlotte, North Carolina-based company reported revenues of $9.5 billion in the first quarter, marking a significant increase compared to $7.83 billion in the same period last year. According to LSEG data, analysts had expected revenue of $8.88 billion.
The company reported earnings of $3.23 per share for the quarter ending April 4, compared to $0.67 per share in the same period last year. Nucor also stated that it expects earnings to increase across all three operating segments, supported by higher sales prices and volumes.
Reuters
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