Nucor Corporation reports second-quarter earnings after the market close today.
The Charlotte-based steel giant serves as a key indicator for materials sector sentiment. It is a major component of the XLB and IYM ETFs.
Analysts expect earnings of $4.53 per share on $10.31 billion in revenue. This represents a significant increase from the $2.65 per share earned one year ago.
June guidance forecasts adjusted earnings between $4.50 and $4.60 per diluted share. Management attributes the performance to higher average selling prices and stable volumes.