Here's What to Expect From Nucor This Month
When Nucor (NYSE: NUE) announces quarterly results on April 21, North America's largest steelmaker expects to report a new record for first-quarter earnings. This comes on the heels of a blowout record year in 2021, when the company earned $6.83 billion, nearly triple its previous record, set in 2018. Thanks to a steady stream of share repurchases in recent years, the company more than tripled earnings per share, too.
Supply-and-demand dynamics sent steel prices soaring during most of 2021, which helped the top and bottom lines of steelmakers like Nucor. Its stock price rose almost 115% last year. With steel prices ticking back up after a drop-off that began in the fourth quarter, investors should examine whether Nucor is likely to offer market-beating returns again in 2022 and beyond.
Image source: Nucor.
Source Fool.com
