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Nucor: 3Q Earnings Snapshot

Nucor: 3Q Earnings Snapshot

Associated Press

CHARLOTTE, N.C. (AP) _ Nucor Corp. (NUE) on Thursday reported third-quarter net income of $676.7 million.

The Charlotte, North Carolina-based company said it had profit of $2.13 per share. Earnings, adjusted for one-time gains and costs, were $2.33 per share.

The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.35 per share.

The steel company posted revenue of $6.74 billion in the period, which topped Street forecasts. Five analysts surveyed by Zacks expected $6.52 billion.

Nucor shares have fallen 7 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 5 percent. The stock has increased 3.5 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NUE at https://www.zacks.com/ap/NUE