Nucor Corp. reported record first half and second quarter consolidated net earnings. For the first half of 2005, Nucor's consolidated net earnings were $677.4 million, an increase of 86 percent over net earnings of $364.7 million in last year's first half. Consolidated net earnings of $322.7 million in this year's second quarter were an increase of 28 percent over $251.4 million earned in the second quarter of 2004 and a decrease of 9 percent from the $354.7 million earned in the first quarter of 2005.
In the first half of 2005, Nucor's consolidated net sales increased 28 percent to $6.47 billion, compared with $5.05 billion in last year's first half. Average sales price per ton increased 25 percent while total tons shipped to outside customers increased 3 percent from the first half of 2004. In the second quarter of 2005, Nucor's consolidated net sales increased 14 percent to $3.15 billion, compared with $2.76 billion in the second quarter of 2004 and decreased 5 percent compared with $3.32 billion in the first quarter of 2005. Average sales price per ton increased 8 percent from the second quarter of 2004 and decreased 6 percent from the first quarter of 2005. Total tons shipped to outside customers were a record 5,063,000 tons in the second quarter of 2005, an increase of 5 percent over the second quarter of 2004 and an increase of 1 percent over the first quarter of 2005.
The average scrap and scrap substitute cost per ton used increased 21 percent from $214 in the first half of 2004 to $259 in the first half of 2005, increased 8 percent from $227 in the second quarter of 2004 to $246 in the second quarter of 2005, and decreased 10 percent from $272 in the first quarter of 2005.