Nucor Corp. (NYSE:NUE) released its third-quarter earnings report after Monday's closing bell.
Here's a look at the key figures from the quarter.
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The Details: Nucor reported quarterly earnings of $2.63 per share which beat the analyst estimate of $2.25 by 16.63%.
Quarterly revenue came in at $8.52 billion which beat the consensus estimate of $8.15 billion.
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“We continue to execute on Nucor’s strategy of growing our core steelmaking capabilities, while expanding into downstream, steel-adjacent businesses,” said Leon Topalian, Nucor CEO.
“Throughout a period of capital investment, Nucor continues to have the strongest balance sheet of any major steel producer in North America and has returned nearly $1 billion to shareholders year-to-date, representing more than 70% of net earnings through the third quarter,” Topalian added.
Outlook: Nucor said that it expects earnings in the fourth quarter to be lower than Q3 earnings.
NUE Stock Price: According to data from Benzinga Pro, Nucor stock was up 2.84% at $148.25 in Monday's extended trading.
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