Nucor CEO Leon Topalian expressed confidence in the company’s future despite quarterly earnings that fell short of expectations. While the second quarter will see moderated earnings, Topalian emphasized the long-term strength of the steel products segment. Nucor’s focus remains on long-term performance, and the CEO believes the company’s best days are yet to come.
Several companies made headlines in after-hours trading due to earnings reports and guidance updates. Nucor underwhelmed with its first-quarter results and cut its second-quarter outlook, sending its shares down 6.3%. Cleveland-Cliffs similarly missed estimates, resulting in a loss of nearly 3%. Cadence Design Systems’ lackluster second-quarter guidance dragged its shares down 8.9%. Meanwhile, Globe Life raised its full-year earnings guidance, leading to a 1.8% gain. Crane Company’s earnings and revenue beat, pushing its shares up 3.7%. Other movers included Alexandria Real Estate Equities, Packaging Corporation of America, Calix, Simpson Manufacturing, Medpace, and TrustCo Bank Corp. NY.
