Nucor (NUE) Q3 FY2021 earnings: revenue $10.3 billion, up 109.3% on the year

Nucor Corp. (NUE) reported revenue of $10.3 billion for Q3 FY2021, the quarter ended 2 October 2021, up 109.3% on the same quarter a year earlier as this quarter's filing gives it. Net income was $2.1 billion, up 1000.1% on the year as this quarter's filing gives it, and diluted earnings per share $7.28. The figures are the company's own, from the 10-Q it filed with the SEC on 9 November 2022.

Revenue

$10.3 billion

+109.3% on the year · +17.3% on the quarter

Q4 FY2019Q3 FY2021

Operating margin

n/a

Q4 FY2019Q3 FY2021

Net income

$2.1 billion

+1,000.1% on the year · +41.2% on the quarter

Q4 FY2019Q3 FY2021

Diluted EPS

$7.28

+1,055.6% on the year · +44.4% on the quarter

Q4 FY2019Q3 FY2021

this quarterthe same quarter a year earlierHover a bar for its figure.

Income statement (profit and loss)

$ million	Q3 FY2021	Q2 FY2021	Q3 FY2020	On the quarter	On the year
Revenue	10,313	8,789	4,928	+17.3%	+109.3%
Cost of revenue	6,907	n/a	n/a
Gross profit	3,406	n/a	n/a
Gross margin	33.0%	n/a	n/a
Selling, general and administrative	526	n/a	n/a
Interest expense	43.9	n/a	n/a
Pre-tax income	2,869	n/a	n/a
Income tax	646	n/a	n/a
Effective tax rate	22.5%	n/a	n/a
Net income	2,128	1,507	193	+41.2%	+1,000.1%
Net margin	20.6%	n/a	n/a
Diluted EPS	$7.28	$5.04	$0.63	+44.4%	+1,055.6%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q3 FY2021	Q2 FY2021	Q3 FY2020	On the quarter	On the year
Operating cash flow	1,737	n/a	n/a
Capital expenditure	505	n/a	n/a
Free cash flow	1,232	n/a	n/a
Free cash flow margin	12.0%	n/a	n/a
Cash from investing	-1,695	n/a	n/a
Cash from financing	-797	n/a	n/a
Depreciation and amortisation	219	203	197	+7.6%	+11.3%
Share-based compensation	30.9	n/a	n/a
Buybacks	858	n/a	n/a
Dividends paid	120	n/a	n/a
Dividend per share	$0.41	n/a	n/a
Diluted shares, weighted	291m	298m	303m	-2.1%	-4.0%
Shares outstanding at period end	257m	294m	302m	-12.6%	-15.0%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2021	Q2 FY2021	Q3 FY2020	On the quarter	On the year
Shareholders' equity	13,423	12,254	10,302	+9.5%	+30.3%
Non-controlling interest	528	n/a	n/a
Debt	5,668	5,388	5,452	+5.2%	+4.0%
Other liabilities	5,331	n/a	n/a
Total liabilities and equity	24,949	n/a	n/a
Fixed assets	7,777	n/a	n/a
Goodwill	2,788	n/a	n/a
Intangible assets	1,171	n/a	n/a
Investments	247	n/a	n/a
Cash and equivalents	1,764	2,723	2,867	-35.2%	-38.5%
Receivables	4,087	n/a	n/a
Inventory	5,679	n/a	n/a
Other assets	1,435	n/a	n/a
Total assets	24,949	n/a	n/a

Questions

What was Nucor's revenue in Q3 FY2021?

Nucor (NUE) reported revenue of $10.3 billion for Q3 FY2021, the quarter ended 2 October 2021, up 109.3% on the same quarter a year earlier as the company restated it.

How much did Nucor earn in Q3 FY2021?

Net income for Q3 FY2021 was $2.1 billion, up 1000.1% on the year, and diluted earnings per share $7.28.

When did Nucor report Q3 FY2021 results?

Nucor filed its 10-Q for the quarter ended 2 October 2021 with the SEC on 9 November 2022.

Quarterly results, the last 20 quarters

	Q3 FY2021	Q4 FY2021	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023	Q1 FY2024 †	Q2 FY2024 †	Q3 FY2024 †	Q4 FY2024 †	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	10,313	10,364	10,493	11,794	10,501	8,724	8,710	9,523	8,776	7,705	8,137	8,077	7,444	7,076	7,830	8,456	8,521	7,687	9,496	10,397
Cost of revenue	6,907	6,841	7,035	7,690	7,657	6,626	6,712	7,022	6,855	6,311	6,614	6,883	6,686	6,449	7,225	7,233	7,333	6,825	7,995	8,363
Gross profit	3,406	3,523	3,458	4,104	2,843	2,097	1,998	2,502	1,921	1,394	1,523	1,194	758	627	605	1,223	1,188	862	1,501	2,034
Gross margin	33%	34%	33%	35%	27%	24%	23%	26%	22%	18%	19%	15%	10%	9%	8%	14%	14%	11%	16%	20%
SG&A	526	502	525	563	487	423	390	453	386	355	345	294	244	240	281	304	300	334	378	405
Interest expense	43.9	40.6	44.1	63.5	54.6	56.8	62.7	60.8	63.2	59.2	43.0	67.0	65.0	52.3	51.0	49.0	38.0	32.0	39.0	36.0
Pre-tax income	2,869	3,008	2,898	3,490	2,323	1,533	1,597	2,050	1,548	1,078	1,225	898	388	390	285	899	883	501	1,096	1,625
Tax rate	23%	22%	23%	22%	23%	14%	23%	23%	21%	19%	22%	21%	22%	11%	21%	21%	23%	16%	21%	21%
Net income	2,128	2,250	2,096	2,561	1,695	1,256	1,137	1,461	1,142	785	845	645	250	287	156	603	607	378	743	1,156
Net margin	21%	22%	20%	22%	16%	14%	13%	15%	13%	10%	10%	8%	3%	4%	2%	7%	7%	5%	8%	11%
Diluted EPS	$7.28	$7.97	$7.67	$9.67	$6.50	$4.89	$4.45	$5.81	$4.57	$3.16	$3.46	$2.68	$1.05	$1.22	$0.67	$2.60	$2.63	$1.64	$3.23	$5.04
Operating cash flow	1,737	2,610	2,472	2,262	2,805	2,534	1,207	1,920	2,464	1,520	460	1,485	1,301	733	364	732	1,339	799	886	1,400
Capital expenditure	505	415	448	521	461	518	532	525	439	718	670	801	823	879	859	954	807	802	661	571
Free cash flow	1,232	2,196	2,024	1,740	2,343	2,016	675	1,395	2,025	802	-211	684	478	-146	-495	-222	532	-3.0	225	829
Buybacks	858	1,502	905	803	652	403	426	451	500	177	1,001	500	400	315	300	200	100	100	125	350
Dividends paid	120	117	138	134	132	129	131	129	128	127	134	131	129	128	129	129	127	127	129	129
Shares outstanding	257m	269m	266m	262m	257m	252m	251m	249m	246m	241m	240m	237m	235m	231m	231m	230m	229m	228m	228m	227m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 2 October 2021, filed 9 November 2022: the filing.