Nucor Expects Q1 Profit to Beat 2008 Record and Top $900 Million
Nucor's (NYSE: NUE) last quarterly numbers confirmed a recovery in key end markets, and management was confident the trend will continue. But what the largest steel manufacturer in the U.S. may not have expected is the magnitude of the recovery.
Demand is so robust that Nucor is not even halfway through its first quarter but is already projecting the potential net income it could earn in the quarter ending April 3. It just announced that its first-quarter net income could exceed (hold your breath) $900 million. That's a remarkably big number for several reasons.
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Source Fool.com
