Earnings reports: Qorvo, First Citizens, Nucor, Live Oak

It’s earnings season and North Carolina-based public companies are posting gains. Here’s the latest:

GREENSBORO – Qorvo Inc. (QRVO) reported a loss of $15.9 million for the fiscal third quarter.

The Greensboro, North Carolina-based company said it was losing 16 cents per share. Earnings adjusted for depreciation and restructuring costs were 75 cents per share.

The results beat Wall Street’s expectations. The average estimate from six analysts polled by Zacks Investment Research was earnings of 64 cents a share.

The chipmaker generated $743.3 million in revenue during that period, beating Street’s forecasts as well. Five analysts polled by Zacks expected $727.2 million.

For the current quarter, which ends in March, Qorvo expects earnings per share of 10 to 15 cents.

The company expects revenue of between $600 million and $640 million for the fourth fiscal quarter.

RALEIGH – First Citizens BancShares Inc. (FCNCA) reported fourth-quarter earnings of $257 million.

The Raleigh, NC-based bank said it had earnings of $16.67 per share. Earnings adjusted for one-time costs were $20.94 per share.

The bank had revenues of $1.47 billion during that period. Earnings, net of interest expense, were $1.23 billion, beating Street’s guidance.

For the year, the company reported earnings of $1.1 billion, or $67.40 per share. Sales were reported at $5.08 billion.

WILMINGTON- Live Oak Bancshares Inc. (LOB) reported fourth quarter earnings of $1.8 million.

The bank, based in Wilmington, North Carolina, said it had earnings of 4 cents a share.

The results fell short of Wall Street’s expectations. The average estimate from three analysts polled by Zacks Investment Research was earnings of 40 cents a share.

The bank holding company generated $155.7 million in revenue for the period. Earnings, net of interest expense, came in at $105 million, which also fell short of Street’s projections. Three analysts polled by Zacks were expecting $111.6 million.

For the year, the company reported earnings of $176.2 million, or $3.92 per share. Revenue was reported at $565.5 million.

CHARLOTTE- Nucor Corp. (NUE) reported fourth-quarter earnings of $1.26 billion.

The Charlotte, North Carolina-based company said it had net income of $4.89 per share.

The results beat Wall Street’s expectations. The average estimate from three analysts polled by Zacks Investment Research was for earnings of $4.18 per share.

The steel company had sales of $8.72 billion during that period, which also beat Street’s forecasts. Three analysts polled by Zacks expected $7.91 billion.

For the year, the company reported earnings of $7.61 billion, or $28.79 per share. Revenue was reported at $41.51 billion.