Nucor Corp. Q3 Income Drops, but beats estimates

(RTTNews) - Nucor Corp. (NUE) released a profit for third quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $1.14 billion, or $4.57 per share. This compares with $1.69 billion, or $6.50 per share, in last year's third quarter.

Analysts on average had expected the company to earn $4.25 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 16.4% to $8.78 billion from $10.50 billion last year.

Nucor Corp. earnings at a glance (GAAP) :

-Earnings (Q3): $1.14 Bln. vs. $1.69 Bln. last year. -EPS (Q3): $4.57 vs. $6.50 last year. -Analyst Estimates: $4.25 -Revenue (Q3): $8.78 Bln vs. $10.50 Bln last year.