Nucor Posts Strong Numbers for Year

Nucor Corp. announced record net earnings of $1.76 billion, a record for the company. The earnings was an increase of 34 percent over net earnings of $1.31 billion in 2005. Consolidated net earnings of $408.2 million ($1.35 per diluted share) in this year's fourth quarter increased 20 percent, compared with $341.0 million earned in the fourth quarter of 2005 and decreased 21 percent from the $517.6 million during the third quarter of last year.

Net sales for Nucor for the year stand at $14.75 billion, a 16 percent increase from the previous year. Average sales price per ton increased 7 percent, while total tons shipped to outside customers increased 8 percent from 2005. In the fourth quarter, Nucor's consolidated net sales increased 8 percent to $3.47 billion, compared with $3.21 billion in the fourth quarter of 2005 and decreased 12 percent compared with $3.93 billion from the third quarter of 2006. Average sales price per ton increased 8 percent from the fourth quarter of 2005 and decreased 3 percent from the third quarter of 2006. Total tons shipped to outside customers remained flat at 5,075,000 tons in the fourth quarter of 2006 when compared to the fourth quarter of 2005 and decreased 9 percent from the third quarter of 2006.The average scrap and scrap substitute cost per ton used increased 1 percent from $244 in 2005 to $246 in 2006, increased 1 percent from $240 in the fourth quarter of 2005 to $243 in the fourth quarter of 2006, and decreased 5 percent from $257 in the third quarter of 2006. Total energy costs decreased approximately $1 per ton from 2005 to 2006, decreased approximately $6 per ton from the fourth quarter of 2005 to the fourth quarter of 2006, and remained flat when comparing the third quarter of 2006 to the fourth quarter of 2006.

In 2006, Nucor established company records in its steel mills segment for steel production, total steel shipments and steel sales to outside customers. Steel production was 22,382,000 tons, compared with 20,332,000 tons produced in 2005, an increase of 10 percent. Total steel shipments increased 8 percent to 22,346,000 tons in 2006, compared with 20,669,000 tons in 2005. Steel shipments to outside customers increased 9 percent to 20,649,000 tons in 2006, compared with 19,020,000 tons in 2005. In the steel products segment, steel joist production during 2006 increased to 570,000 tons, compared with 554,000 tons in 2005. Steel deck sales increased to a record 398,000 tons in 2006, compared with 380,000 tons in 2005. Cold finished steel sales decreased to 327,000 tons, compared with 342,000 tons in 2005.