Nucor Corp reported a 68.5 percent gain in fourth-quarter profit this morning beating estimates by a wide margin.
A significant portion of the gains came from the 25% steel tariffs on imports which pushed steel prices 21% higher adding to the profits. This made 2018 a record breaking year for the number 1 steelmaker.
Net income attributable to shareholders rose to $646.8 million in the fourth quarter ended Dec. 31, from $383.9 million, a year earlier. The company posted earnings per share of $2.07, compared with $1.20, a year earlier.
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Nucor Stock (NUE) – Trade Alerts After Earnings – Jan 29 2019
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