Nucor Corp (NUE)

Pretax margin

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	5,884,766	6,356,980	7,107,280	8,507,620	9,772,540	11,227,690	11,782,640	10,419,400	8,905,940	6,178,643	3,666,266	1,861,891	720,980	682,037	782,617	1,134,660	1,683,040	2,374,225	2,905,313	3,279,724
Revenue (ttm)	US$ in thousands	34,713,500	35,732,930	37,458,000	39,729,240	41,512,560	43,153,000	42,965,400	39,960,060	36,483,900	31,379,560	25,994,320	21,532,470	20,139,670	20,011,360	20,547,900	22,116,580	22,588,860	23,752,990	25,030,690	25,595,470
Pretax margin		16.95%	17.79%	18.97%	21.41%	23.54%	26.02%	27.42%	26.07%	24.41%	19.69%	14.10%	8.65%	3.58%	3.41%	3.81%	5.13%	7.45%	10.00%	11.61%	12.81%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $5,884,766K ÷ $34,713,500K
= 16.95%

The pretax margin of Nucor Corp. has exhibited a declining trend over the past eight quarters, dropping from 27.03% in Q1 2022 to 18.07% in Q4 2023. This indicates a decrease in the company's ability to generate profits before accounting for taxes and reflects potential challenges in maintaining operational efficiency and controlling costs. The downward trajectory may raise concerns about the company's overall profitability and financial performance, highlighting the need for management to assess and address factors impacting the pretax margin.