Metal Industry News

Nucor's Sales, Earnings Well Off 2023 Totals

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Nucor Corp., Charlotte, N.C., reported full-year earnings of $2.03 billion, less than half its net earnings in 2023. Net sales for the full year decreased 11 percent to $30.73 billion.

In the fourth quarter, Nucor's earnings totaled $287 billion, well below the $785 million in the fourth qurter of 2023, but an improvement from the $250 million in the third quarter. Net sales decreased 8 percent to $7.08 billion in the fourth quarter of 2023.

"While steel demand softened throughout 2024, market conditions are starting to improve and should gain momentum as we work our way into 2025. The U.S. economy is still on the front end of several steel-intensive megatrends and as America's largest and most diversified steel producer, Nucor is well positioned to supply those needs," said Leon Topalian, chair, president and CEO.

The average sales price per ton in the fourth quarter decreased 3 percent compared with the third quarter and decreased 10 percent compared with the fourth quarter of 2023. Approximately 6,058,000 tons were shipped to outside customers in the fourth quarter, a 2 percent decrease from the third quarter and a 2 percent increase from the fourth quarter of 2023.

Total steel mill shipments in the fourth quarter decreased 1 percent compared with the third quarter of 2024 and increased 2 percent compared with the fourth quarter of 2023.


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