This Analyst Question Struck a Chord With Nucor's CEO
During Nucor's (NYSE: NUE) third-quarter-2019 earnings conference call, Timna Tanners from Bank of America Merrill Lynch asked if the steel giant might change its capital spending plans in 2020. CEO John Ferriola and CFO Jim Frias both provided answers to the question. They were pretty clear about how Nucor thinks about capital spending, and what they said provides a lot of insight about Nucor. Here's the breakdown.
If you listen to Nucor's quarterly conference calls on a regular basis, the name Timna Tanners is one you'll recognize. She's always on the calls, always asking insightful questions, and clearly has a good rapport with the company's management team. During the third-quarter conference call, she asked what would seem to be an innocuous question about 2020, trying to see if an industry downturn would lead the steel company to pull back a little on its capital spending plans. The answer she got, a back-and-forth between the CFO and CEO, led her to say later, "I guess I struck a chord."
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