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Nucor Corp (NUE.N)

NUE.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Nucor says estimates capital spending of about $550 million for 2017
Thursday, 20 Apr 2017 09:52am EDT 

April 20 (Reuters) - Nucor Corp ::"For 2017, we estimate capital spending of approximately $550 million and depreciation and amortization of about $730 million" - Conf call.While recent trade case decisions have begun to reduce flood of dump, subsidized products from foreign producers, imports continue to negatively impact U.S. steel industry overall -Conf call."Certain countries continue to brazenly break and circumvent our nation's trade laws" - Conf call."Earnings in the second quarter 2017 are expected to increase compared to the first quarter" - Conf call."Our fabricated construction products order books indicate that the nonresidential construction markets have regained momentum in 2017"- Conf call.We welcome an investigation into impact of imported steel upon our national security, particularly given that many of these steels are imported illegally, violating our trade laws - Conf call."The amount of steel consumed per rig has doubled since about 2013" - Conf call.Rig counts are up, just about double. Steel consumed per rig, up, just about double. That bodes well for steel consumption in energy market - Conf call.  Full Article

Nucor Q1 earnings per share $1.11
Thursday, 20 Apr 2017 09:00am EDT 

April 20 (Reuters) - Nucor Corp :Nucor reports results for first quarter of 2017.Q1 earnings per share $1.11.Q1 sales $4.82 billion versus i/b/e/s view $4.54 billion.Q1 earnings per share view $0.75 -- Thomson Reuters I/B/E/S.Nucor - total tons shipped to outside customers were 6,584,000 tons in q1 of 2017, a 13% increase from q4 of 2016 and a 7% increase from q1 of 2016.Nucor corp- average sales price per ton in q1 of 2017 increased 8% compared to q4 of 2016 and increased 21% from q1 of 2016.Nucor corp- performance of steel mills segment is expected to improve in q2 of 2017 as compared to q1 of 2017 as metal margins are expected to expand.Nucor corp- also expect intercompany profit eliminations to have a smaller relative impact in q2 of 2017.Nucor corp- performance of raw materials segment expected to improve in q2 2017 compared to q1 2017 due to improved profitability of dri facilities.Nucor corp - average scrap and scrap substitute cost per ton used during q1 of 2017 was $284, an increase of 20% from $236 in q4 of 2016.  Full Article

Andritz gets order from steel producer Nucor
Tuesday, 28 Mar 2017 03:00am EDT 

Andritz AG : Has received an order from steel producer Nucor to supply turn-key production lines for its new specialty cold rolling mill complex at company's sheet steel mill in Hickman, Arkansas, USA .Start-up of the plant is scheduled for the second half of 2018.  Full Article

Nucor Corp expects Q1 results between $1.10 - $1.15 per diluted share
Thursday, 16 Mar 2017 09:00am EDT 

Nucor Corp : Nucor Corp - expects Q1 results to be in range of $1.10 to $1.15 per diluted share . Nucor CORP - expected improvement in earnings in Q1 of 2017 compared to Q4 of 2016 is primarily due to performance of our steel mills segment. . Q1 earnings per share view $0.76 -- Thomson Reuters I/B/E/S . Nucor Corp - profitability of steel products segment in Q1 of 2017 is expected to decrease compared to Q4 of 2016 due to typical seasonality .Nucor Corp - expect increased profitability of raw materials segment in Q1 of 2017 as compared to Q4 of 2016.  Full Article

Nucor acquires assets of Omega Joist
Wednesday, 1 Mar 2017 04:30pm EST 

Nucor Corp : Nucor Corp says acquired assets of omega joist, a subsidiary of Samuel, Son & Co., Ltd .Nucor Corp - Omega Joist will operate as Vulcraft-Omega and will become part of Nucor's eleven other Joist and Deck production facilities.  Full Article

State Farm Mutual Automobile Insurance reports 6.81 percent passive stake in Nucor Corp as of Jan 24, 2017
Monday, 6 Feb 2017 11:43am EST 

Nucor Corp :State Farm Mutual Automobile Insurance Co reports a 6.81 percent passive stake in Nucor Corp as of Jan 24, 2017- SEC filing.  Full Article

Gibraltar Industries to sell U.S. bar grating assets by its AMICO U.S. unit to unit of Nucor
Monday, 6 Feb 2017 09:00am EST 

Gibraltar Industries Inc : Gibraltar Industries sells US bar grating assets as part of previously announced US bar grating exit .To sell substantially all of its U.S. bar grating assets by its AMICO U.S. unit to a subsidiary of Nucor Corporation.  Full Article

Nucor posts Q4 earnings per share $0.50
Tuesday, 31 Jan 2017 10:06am EST 

Nucor Corp : Q4 average sales price per ton decreased 7 pct from Q3 of 2016 and was consistent with Q4 of 2015 . Comparative consolidated net earnings after retrospective application of change in accounting principle were $305.4 million, or $0.95 per share in Q3 . Nucor reports results for fourth quarter and year ended 2016 . Q4 sales $3.96 billion versus I/B/E/S view $3.78 billion . Q4 earnings per share $0.50 . Q4 earnings per share view $0.34 -- Thomson Reuters I/B/E/S . Included in q4 of 2016 results were effects of a change in estimate related to cost of certain inventories that resulted in a benefit of $77.6 million . Earnings in Q1 of 2017 are expected to increase compared to Q4 of 2016 . Total tons shipped to outside customers were 5,815,000 tons in Q4 of 2016, a 1 pct decrease from Q3 of 2016 . "We believe full year 2017 profitability could significantly exceed level achieved for 2016" . Average scrap and scrap substitute cost per ton used in Q4 of 2016 was $236, a decrease of 6 pct from $252 in Q3 of 2016 . Expect improved volume in Q1 of 2017 as compared to Q4 of 2016 for steel mills segment . Experienced decreased profitability for our steel products segment in Q4 of 2016 . Overall operating rates at our steel mills decreased to 74 pct in Q4 of 2016 as compared to 76 pct in Q3 of 2016 . Raw materials segment is expected to return to profitability in Q1 of 2017.  Full Article

Tenaris to sell its North American electric conduit business to Nucor
Thursday, 15 Dec 2016 05:18pm EST 

Tenaris SA :Tenaris to sell its North American electric conduit business to Nucor.  Full Article

Nucor sold 50 pct equity interest in Hunter Ridge Energy Services to Encana
Tuesday, 4 Oct 2016 09:00am EDT 

Nucor Corp: Purchased 49% of Encana's leasehold interest covering approximately 54,000 acres in south Piceance basin . Nucor sold its 50% equity interest in Hunter Ridge Energy Services LLC to Encana . Nucor retains all existing producing wells it currently owns . Nucor and Encana also terminated two carry and earning ("C&E") drilling agreements entered into in 2010 and 2012 .By canceling agreements, co has eliminated all future carry capital, contingent liabilities which should result in lower unit cost for future drilling.  Full Article

More From Around the Web

U.S. agency finds harm from imported carbon and steel plate

WASHINGTON U.S. trade officials on Friday said their anti-dumping and subsidy probe found carbon and alloy steel cut-to-length plate from eight foreign producers harms American manufacturers, locking in duties on the imports for five years.