The company said Nucor stockholders' net earnings for Q2 2024 were $645.2 million ($2.68 per diluted share), down from $1.46 billion ($5.81 per share) for Q2 2023. It said earnings declined in all segments.

1. 01

   The company said Nucor stockholders' net earnings for Q2 2024 were $645.2 million ($2.68 per diluted share), down from $1.46 billion ($5.81 per share) for Q2 2023. It said earnings declined in all segments.

2. 02

   The company said net sales for Q2 2024 fell 15% from Q2 2023, and the average selling price per ton dropped 11%, from $1,446 to $1,284. Gross margin was $1.19 billion (15%), down from $2.50 billion (26%) in Q2 2023.

3. 03

   Nucor said operating cash flow for the first six months of 2024 was $1.94 billion, down $1.18 billion from $3.13 billion in the first six months of 2023. Cash and cash equivalents plus short-term investments were $5.43 billion as of June 29, 2024, compared with $7.13 billion as of December 31, 2023.

4. 04

   The company said it used $1.47 billion on capital expenditures in the first six months of 2024 and estimated full-year 2024 capital expenditures at about $3.50 billion. Share repurchases in the first six months of 2023 totaled $1.50 billion, up from $876.7 million in the same period of the prior year.

Key figures

Quarter ended June 29, 2024

Revenue

$8.1B

Net income

$645M

EPS

$2.68

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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