Nucor Guides Q1 EPS to $2.70–$2.80, Reacquires 0.7M Shares
Nucor expects Q1 EPS of $2.70 to $2.80, up from adjusted $0.77 a year earlier and fourth quarter adjusted EPS of $1.73. The company forecasts all segments to post higher earnings led by steel mills and repurchased 0.7 million shares at a $175.19 average, returning $250 million year-to-date.
1. Q1 EPS Guidance
Nucor projects first quarter diluted earnings of $2.70 to $2.80 per share, versus fourth quarter net earnings of $1.64 and adjusted $1.73, and prior-year first quarter net $0.67 and adjusted $0.77.
2. Segment Outlook
All three operating segments are expected to post sequential earnings gains, with the steel mills segment leading on higher average selling prices and volumes, steel products benefiting from volume growth and stable pricing, and raw materials seeing slight earnings improvement.
3. Capital Returns and Call Details
Through Q1, the company repurchased 0.7 million shares at an average price of $175.19 and has returned $250 million via buybacks and dividends. The first quarter results will be released after market close on April 27 with a conference call at 10:00 a.m. ET on April 28.