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Thursday, April 19, 2007 6:50:09 PM
* NUE $64-$66 Nucor beats by $0.02, Q2 outlook remains promising (65.78 )
Reports Q1 (Mar) earnings of $1.26 per share, $0.02 better than the Reuters Estimates consensus of $1.24; revenues rose 6.3% year/year to $3.77 bln vs the $3.61 bln consensus. Co says its Q2 outlook "remains positive with rising prices for most of our products favorably impacting our margins as we work through our higher cost scrap inventories. Overall, end-use demand remains very healthy for long products and plate. While we see improving conditions in our flat-rolled business, these improvements are coming from very soft Q4 market conditions. We expect this improvement to continue through Q2 and Q3."
Reports Q1 (Mar) earnings of $1.26 per share, $0.02 better than the Reuters Estimates consensus of $1.24; revenues rose 6.3% year/year to $3.77 bln vs the $3.61 bln consensus. Co says its Q2 outlook "remains positive with rising prices for most of our products favorably impacting our margins as we work through our higher cost scrap inventories. Overall, end-use demand remains very healthy for long products and plate. While we see improving conditions in our flat-rolled business, these improvements are coming from very soft Q4 market conditions. We expect this improvement to continue through Q2 and Q3."
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