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News Breaks
March 18, 2014
09:05 EDTNUENucor sees Q1 EPS 30c-35c, consensus 49c
The larger factor impacting Q1 was severe weather conditions, which has disrupted customer demand, decreased the amount of railcar availability and has exacerbated conditions in the seasonally weaker performance of our fabricated construction products businesses. Additionally, import levels have continued to negatively impact pricing and margins at our bar and sheet mills. Looking forward, we continue to see small but noticeable improvements in the nonresidential construction markets. Projected first quarter results include an estimated LIFO charge of $14.5M, or 3c per diluted share, compared to a charge of $17.4M, or 4c per diluted share, in Q4 and a charge of $18M, or 3c per diluted share, in 1Q13. Also included in the projected Q1 results is an estimated $9M charge, or 2c per diluted share, related to the disposal of assets within the steel mills segment. Earnings in Q4 included an out-of-period non-cash gain of $21.3M, or 7c per diluted share, related to a correction to a deferred tax balance.
News For NUE From The Last 14 Days
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June 30, 2015
14:34 EDTNUEIron ore producers slide after Australia cuts price target on the commodity
Shares of iron ore producers are falling after Reuters reported that Australia reduced its 2015 price forecast for iron ore to $54.40 a tonne from $60.40 a tonne. According to Reuters, Australia's current projection on iron ore prices is based on its view that China, the commodity's main market, will produce less steel in 2015 and 2016 as as the seaborne supply of iron ore increases. PRICE ACTION: Cliffs Natural Resources (CLF) is down over 10%, BHP Billiton (BHP) is lower by 2.3%, and Vale (VALE) is down 4% in afternoon trading. Steel stocks, including United States Steel (X), AK Steel Holding (AKS), and Nuco (NUE) are also sliding in afternoon trading.
June 22, 2015
12:33 EDTNUESteel stocks lag market after AK Steel sees Q2 results hindered by imports
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