Nucor (NYSE:NUE) reported on Tuesday first quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Nucor announced earnings per share of $0.99 on revenue of $5.62B. Analysts polled by anticipated EPS of $0.94 on revenue of $5.37B. That with comparison to EPS of $1.55 on revenue of $6.1B in the same period a year before. Nucor had reported EPS of $0.52 on revenue of $5.13B in the previous quarter. Analysts are expecting EPS of $0.38 and revenue of $4.85B in the upcoming quarter.
Nucor shares are down 28% from the beginning of the year , still down 31.01% from its 52 week high of $58.70 set on December 12, 2019. They are under-performing the S&P 500 which is down 11.29% year to date.
Nucor follows other major Basic Materials sector earnings this month
Nucor's report follows an earnings missed by Air Products on Thursday, who reported EPS of $2.04 on revenue of $2.22B, compared to forecasts EPS of $2.08 on revenue of $2.16B.
Southern Copper had missed expectations on Friday with first quarter EPS of $0.28 on revenue of $1.72B, compared to forecast for EPS of $0.35 on revenue of $1.67B.
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