Edition:
India

Nucor Reports Q2 Earnings Per Share Of $1.26


Thursday, 18 Jul 2019 

July 18 (Reuters) - Nucor Corp ::NUCOR REPORTS RESULTS FOR SECOND QUARTER OF 2019.Q2 SALES $5.9 BILLION VERSUS REFINITIV IBES ESTIMATE OF $6.02 BILLION.Q2 EARNINGS PER SHARE $1.26.PERFORMANCE OF RAW MATERIALS SEGMENT IS EXPECTED TO DECREASE IN Q3 OF 2019 AS COMPARED TO Q2 OF 2019.PROFITABILITY OF NUCOR'S STEEL PRODUCTS SEGMENT IS EXPECTED TO CONTINUE TO IMPROVE DURING Q3 OF 2019 AS COMPARED TO Q2 OF 2019..UNUSUALLY WET WEATHER AND AGGRESSIVE SUPPLY CHAIN DESTOCKING IMPACTED MILL ORDER RATES IN FIRST HALF OF 2019.EXPECT PERFORMANCE OF STEEL MILLS SEGMENT IN Q3 OF 2019 TO BE LOWER THAN THIS YEAR'S Q2.HAVE SEEN LOWER VOLUMES DURING FIRST HALF OF THIS YEAR RESULTING IN A MORE CHALLENGING PRICE ENVIRONMENT.EXPECT SERVICE CENTER CUSTOMERS WILL RESUME MORE NORMAL MARKET DEMAND-DRIVEN BUYING PATTERNS DURING Q3 OF 2019..REAL DEMAND FOR OUR PRODUCTS REMAINS STRONG IN KEY END-USE MARKETS.SEE HEALTHY CONDITIONS IN END-USE MARKETS THAT TYPICALLY ACCOUNT FOR MORE THAN TWO THIRDS OF OUR STEEL SHIPMENTS.CAUTIOUSLY OPTIMISTIC THAT PRICING HAS BOTTOMED FOR MOST PRODUCTS.AVERAGE SALES PRICE PER TON IN Q2 OF 2019 DECREASED 3% COMPARED WITH Q1 OF 2019.CAUTIOUSLY OPTIMISTIC THAT VOLUMES SHOULD BE MORE CLOSELY ALIGNED WITH REAL END-USE DEMAND IN H2 2019.TOTAL OF 6,724,000 TONS WERE SHIPPED TO OUTSIDE CUSTOMERS IN Q2 OF 2019, A 1% DECREASE FROM Q1 OF 2019.Q2 EARNINGS PER SHARE VIEW $1.29 -- REFINITIV IBES DATA.AVERAGE SALES PRICE PER TON IN Q2 OF 2019 DECREASED 2%.