Nucor beats estimates with $10.40 billion revenue
Nucor delivered a strong quarter, with adjusted EPS of $4.84 beating estimates of $4.38. Revenue came in at $10.40 billion, a 2.5% beat over expected $10.14 billion.
The company’s steel mill shipments reached a record high, with segment pre-tax earnings jumping to $1.56 billion from $1.13 billion in Q1.
Nucor’s EBITDA rose to $2.02 billion, up from $1.51 billion in Q1 and $1.30 billion a year ago. Free cash flow also improved, reaching $829 million.
The strong results were driven by investment in key sectors of the US economy and supportive federal trade policies.