This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Nucor Announces Guidance For Its Third Quarter Earnings

CHARLOTTE, N.C., Sept. 18, 2012 /PRNewswire/ -- Nucor Corporation (NYSE: NUE) announced today guidance for its third quarter ending September 29, 2012.  Nucor expects third quarter results to be in the range of $0.30 to $0.35 per diluted share.  These projected results are lower than the third quarter of 2011 earnings of $0.57 per diluted share and similar to the second quarter of 2012 earnings of $0.35 per diluted share.  Third quarter of 2012 projected results include the negative impact of approximately $26 million ( $0.05 per diluted share) of inventory purchase accounting adjustments related to our acquisition of Skyline Steel LLC ("Skyline") and a loss on the sale of the assets of Nucor Wire Products Pennsylvania, Inc. of $17.6 million ( $0.04 per diluted share). We expect minimal charges related to Skyline purchase accounting adjustments in the fourth quarter.  Earnings in the second quarter of 2012 included an impairment charge related to our Duferdofin Nucor S.r.l. joint venture of $0.09 per diluted share and a charge of $0.02 per diluted share for purchase accounting adjustments and the elimination of profit associated with our steel mills' sales to Skyline post-acquisition.  Projected third quarter results also include an estimated LIFO credit of $80.0 million ( $0.16 per diluted share) compared to a credit of $14.5 million in the second quarter of 2012 ( $0.03 per diluted share) and a charge of $28.0 million in the third quarter of 2011 ( $0.05 per diluted share).

Our projected earnings for the third quarter of 2012 excluding one-time charges are consistent with the qualitative guidance included in our earnings release for the second quarter of 2012 which stated, "We currently expect to see a modest reduction in earnings exclusive of oneā€“time charges for the third quarter of 2012." 

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs