
The company expects a lower inventory credit, compared with the third quarter, which will cut EPS by an estimated $0.06. The other issue is margins:
Lower steel mill margins are primarily impacting our bar and plate steel mills reflecting the cumulative impact of high import levels and general economic uncertainty. Sheet mill margins are improved in the fourth quarter after bottoming in the third quarter of 2012.
The consensus estimate for Nucor’s fourth-quarter EPS is $0.34 on revenues of $4.55 billion. The company did not say this morning whether revenues would be in line with estimates.
Shortly after trading opened this morning, Nucor’s shares were trading up about 0.6% at $43.02, in a 52-week range of $34.23 to $45.75. The consensus price target for the shares is $46.05.
Paul Ausick
Take Charge of Your Retirement: Find the Right Financial Advisor For You in Minutes (Sponsor)
Retirement planning doesn’t have to feel overwhelming. The key is finding professional guidance—and we’ve made it easier than ever for you to connect with the right financial advisor for your unique needs.
Here’s how it works:
1️ Answer a Few Simple Questions
Tell us a bit about your goals and preferences—it only takes a few minutes!
2️ Get Your Top Advisor Matches
This tool matches you with qualified advisors who specialize in helping people like you achieve financial success.
3️ Choose Your Best Fit
Review their profiles, schedule an introductory meeting, and select the advisor who feels right for you.
Why wait? Start building the retirement you’ve always dreamed of. Click here to get started today!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.