Nucor (NYSE:NUE) Fiscal Q2 Earnings, Net Sales Fall

Nucor (NYSE:NUE) reported fiscal Q2 net earnings late Monday of $5.81 per diluted share, down from $9.67 a year earlier. Six of seven analysts polled by Capital IQ expected EPS of $5.54. Net sales for the quarter ended July 1 were $9.52 billion, compared with $11.79 billion a year earlier. Analysts surveyed by Capital IQ expected $9.69 billion. For fiscal Q3, the company said it expects earnings to decline sequentially, reflecting weakness in the steel mills and raw materials segments. One of six analysts polled by Capital IQ is looking for an EPS of $4.74.

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Cadence Design Systems (NASDAQ:CDNS) Q2 Non-GAAP EPS, Revenue Increase; 2023 Outlook Boosted

Cadence Design Systems (NASDAQ:CDNS) reported Q2 non-GAAP earnings late Monday of $1.22 per diluted share, up from $1.08 a year earlier. Analysts polled by Capital IQ expected $1.19. Revenue for the quarter ended June 30 was $976.6 million, up from $857.5 million a year earlier. Analysts surveyed by Capital IQ expected $977.2 million. Cadence Design Systems said it expects 2023 non-GAAP diluted EPS of $5.05 to $5.11 on revenue of $4.05 billion to $4.09 billion. The previous guidance was non-GAAP diluted EPS of $4.96 to $5.04 on revenue of $4.03 billion to $4.07 billion. Analysts polled by Capital IQ expect EPS of $5.03 on revenue of $4.06 billion.

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