Jun. 18 at 5:00 PM
$STLD $NUE Shares of Nucor Corp. rose 3.7% Wednesday after the company raised its Q2 profit outlook, expecting EPS of
$2.55–
$2.65 (vs.
$0.67 in Q1,
$2.68 last year), beating analysts’
$2.41 estimate. The update comes two weeks after President Trump’s 50% steel/aluminum tariffs took effect (up from 25%).
NUE expects earnings growth across steel mills, products, and raw materials segments, with the largest gains from higher selling prices in sheet and plate mills. Steel products will benefit from stable pricing, higher volumes, and lower costs.
The company repurchased 1.8M shares at
$111.89 avg in Q2, totaling 4M YTD at
$123.75 avg. Q2 results are due July 28.
Meanwhile, STLD guided Q2 EPS of
$2.00–
$2.04 (vs.
$2.73 estimate,
$2.72 last year), down from Q1's
$1.44. Steel operations are expected to improve, but steel fabrication earnings may decline due to rising material costs and lower sales prices. $ 179M (1%) of stock was repurchased in Q2. Results expected July 21.
