Oct. 28, 2015

Nucor's Earnings Increase over Second Quarter

Nucor Corp., Charlotte, N.C., reported net earnings of $227.1 million in the third quarter, a decline of 7.5 percent from the prior-year quarter, but an increase of 82.0 percent from the previous quarter. Through three quarters, Nucor’s earnings of $419.7 million were down 16.6 percent from the previous year.

Nucor’s sales in the third quarter declined 26 percent to $4.23 billion, compared to third-quarter 2014, and were off 3 percent from second-quarter 2015. For the year to date, Nucor’s sales of $12.98 billion were down 19 percent. The company’s average price per ton remained consistent with the second quarter, but was down 15 percent from third-quarter 2014.

Shipments to outside customers totaling 5.9 million tons were down 13 percent from last year’s third quarter and 3 percent from the prior quarter. Third-quarter downstream steel shipments to outside customers decreased 3 percent from the prior-year quarter, but increased 3 percent from the second quarter.

“The performance of the steel mills segment in the third quarter improved compared to the second quarter. Margins are improved as our steel mills benefited from a lower average cost of inventory. The automotive market remains strong, while nonresidential construction markets are continuing to gradually improve,” said Nucor President and Chairman John Ferriola.

Overall operating rates at the company’s steel mills decreased to 69 percent in the third quarter from 73 percent in the second quarter. The utilization rate in third-quarter 2014 was 81 percent.

“Energy, heavy equipment and agricultural markets remain weak. Steel prices and margins remain under pressure from exceptionally high levels of imports that continue to flood the domestic market. Imports accounted for an estimated 30 percent of the finished steel market in the first nine months of 2015, compared with an estimated 27 percent in the first nine months of 2014,” Ferriola said.


September 2017: Numbers Don’t Add Up for Service Centers
More...
 
Pause
September 2017: Lichtenstein: Five Steel Truths that Demand Attention
More...
Fall 2016: Cutting & Sawing Equipment
More...
Summer 2017
More...
 
Pause
Advanced Controls on Braner Slitters
More...
AHVS Precision Leveler Features Flip-Top Design
More...
Formtek’s Tishken Slitter Increases Production Volume
More...
Red Bud System Handles High-Strength Steels
More...
Bradbury Launches Flat Trak CL Monitoring System
More...
Artus Knives Custom Designed
More...
 
Pause
Privacy Statement  |  Terms Of Use
Copyright by Metal Center News



Thursday, October 19, 2017