Nucor Reports Numbers

Nucor Corp. announced record net earnings of $969.3 million for the first nine months of the year, a record. The earnings were a 24 percent increase over last year’s nine-month net earnings of $780.1 million.

The company also reported consolidated net earnings of $291.9 million for the third quarter, a decrease of 30 percent compared with $415.4 million for the same time last year, as well as a 10 percent drop from this year’s second quarter earnings of $322.7 million.

Sales for the first nine months of the year stand at $9.49 billion, a 15 percent increase from last year’s nine-month sales figure of $8.29 billion. Average sales price per ton increased 9 percent, while total tons shipped to outside customers increased 5 percent from the first nine months of 2004.

During the third quarter of the year Nucor's consolidated net sales decreased 7 percent to $3.03 billion, compared with $3.24 billion in the third quarter of 2004 and decreased 4 percent compared with $3.15 billion in the second quarter of 2005. Average sales price per ton decreased 15 percent from the third quarter of 2004 and decreased 8 percent from the second quarter of 2005. Total tons shipped to outside customers were a record 5.298 million tons for the quarter, a 9 percent increase from figures the same time last year, and a 5 percent increase over the second quarter of this year.

The average scrap and scrap substitute cost per ton used increased 9 percent from $225 in the first nine months of 2004 to $245 in the first nine months of 2005, decreased 13 percent from $248 in the third quarter of 2004 to $217 in the third quarter of 2005, and decreased 12 percent from $246 in the second quarter of 2005. Total energy costs increased approximately $6 per ton from the first nine months of 2004 to the first nine months of 2005, increased approximately $12 per ton from the third quarter of 2004 to the third quarter of 2005, and increased approximately $6 per ton from the second quarter of 2005 to the third quarter of 2005.

In the steel mills segment, steel production remained flat at 15.136 million tons the first nine months of the year, compared with 15.153 million tons produced the same time last year. Total steel shipments increased 3 percent to 15,504,000 tons in the first nine months of 2005, compared with 15,018,000 tons last year. Steel shipments to outside customers increased 5 percent to 14,295,000 tons in the first nine months of 2005, compared with 13,674,000 tons in last year's first nine months. In the steel products segment, steel joist production during the first nine months of 2005 increased to 413,000 tons, compared with 396,000 tons in the first nine months of 2004. Steel deck sales increased to 285,000 tons in the first nine months of 2005, compared with 271,000 tons in last year's first nine months. Cold finished steel sales increased to 261,000 tons, compared with 211,000 tons in the first nine months of 2004.

In the steel mills segment, steel production increased 3 percent from 4,943,000 tons in the second quarter of 2005 to 5,085,000 tons in the third quarter of 2005. Steel shipments to outside customers increased 5 percent to 4,914,000 tons in the third quarter of 2005, compared with 4,693,000 tons in the second quarter of the year. The increase in production and shipments over the prior year and over the second quarter reflects stronger business conditions in long products and plate products, as well as acquisitions made in 2004 and 2005.