The company said Nucor net earnings attributable to Nucor stockholders were $844.8 million ($3.46 per diluted share) in Q1 2024, down from $1.14 billion ($4.45 per diluted share) in Q1 2023.

1. 01

   The company said Nucor net earnings attributable to Nucor stockholders were $844.8 million ($3.46 per diluted share) in Q1 2024, down from $1.14 billion ($4.45 per diluted share) in Q1 2023.

2. 02

   Nucor said the decline in profitability at its steel products segment was the main reason for the earnings decrease in Q1. Gross margin was $1.52 billion (19%), lower than $2.00 billion (23%) a year earlier. It also said profitability improved at the steel mills segment.

3. 03

   The company said cash provided by operating activities fell to $459.7 million in Q1 2024 from $1.21 billion in Q1 2023. Capital expenditures in Q1 were $670.3 million. It estimated full-year 2024 capital expenditures at about $3.5 billion.

4. 04

   The company said it expects earnings in Q2 2024 to decrease from Q1. Stock repurchases in Q1 2024 totaled $1.00 billion, and it declared a quarterly cash dividend of $0.54 per share.

Key figures

Quarter ended March 30, 2024

Revenue

$8.1B

Net income

$845M

EPS

$3.46

Operating cash flow

$460M

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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