Find out about the companies making headlines for trading after hours. Nucor – Shares fell 6.3% after the steelmaker’s first-quarter results fell short of expectations and its second-quarter outlook was disappointing. First-quarter earnings of $3.46 per share were below the FactSet consensus estimate of $3.67 earnings per share. Revenue of $8.14 billion was below estimates of $8.26 billion. Nucor expects earnings to decline in the second quarter, citing “a decline in steel segment earnings primarily due to lower average selling prices, partially offset by moderate increases in volumes.” CLEVELAND CLIFFS — The steelmaker lost nearly 3%. Cleveland-Cliffs’ first-quarter results fell short of analysts’ expectations, with adjusted earnings of 18 cents per share on revenue of $5.2 billion. Analysts surveyed by LSEG estimated earnings of 22 cents per share and revenue of $5.35 billion. Cadence Design Systems — Shares fell 8.9% after the software company issued poor second-quarter guidance. Cadence Design Systems forecast second-quarter earnings per share of $1.20 to $1.24, below the $1.43 per share forecast of analysts polled by FactSet. The revenue forecast of between $1.03 billion and $1.05 billion also missed the FactSet consensus estimate of $1.11 billion. Globe Life — Shares rose 1.8% after the life insurance company raised its full-year profit forecast. For full-year 2024, Globe Life expects earnings per share to be between $11.50 and $12.00, down from the previous range of $11.30 and $11.80. The firm otherwise posted first-quarter operating income and revenue that were in line with FactSet consensus estimates. Crane Company shares rose 3.7% after the industrial products company reported first-quarter earnings and revenue that beat analysts’ estimates. Crane had adjusted earnings of $1.22 per share versus the FactSet consensus estimate of $1.13. Revenue of $565.3 million topped expectations of $546.4 million. Alexandria Real Estate Stocks. Alexandria shares rose 1.2% after Alexandria’s revenue beat expectations in the first quarter. The life sciences REIT reported revenue of $769.1 million, topping the FactSet consensus estimate of $764.4 million. Packaging Corporation of America – Shares fell 1.8% in extended trading even as that the containerboard maker reported first-quarter earnings that beat forecasts. Packaging Corp. earned adjusted earnings of $1.72 per share, more than the $1.68 earnings per share expected by analysts polled by FactSet. Revenue of $2.0 billion also topped the consensus estimate of $1.91 billion. Calix — Shares of the cloud services and software provider fell nearly 15% after it issued weak guidance for the second quarter. Calix expects earnings of 3 cents to 9 cents per share on revenue of $197 million to $203 million. Analysts polled by FactSet forecast earnings of 24 cents per share on revenue of $232.8 million. Simpson Manufacturing — Shares fell nearly 11% after the structural solutions maker reported lower revenue and earnings for the first quarter. Simpson earned $1.77 per share, down 14.3% from a year ago. Revenue of $530.6 million was down nearly 1% from the prior year. Medpace — Shares fell 4.3% after Medpace’s first-quarter revenue missed estimates. The clinical research organization reported revenue of $511.0 million, below the $512.4 million expected by analysts polled by FactSet. TrustCo Bank Corp. NY — Shares of the regional bank rose 3.7% after TrustCo earned 64 cents per share in the first quarter, beating the FactSet consensus estimate of 60 cents. — CNBC’s Darla Mercado contributed to this report.
