September 07, 2008

Nucor net earning in 9 months down by 18% YoY

Nucor Corporation announced consolidated net earnings for the January to September 2007 period of USD 1.11 billion down by 18% YoY from net earnings of USD 1.35 billion in January to September 2006 period. Nucor's consolidated net sales in January to September 2007 period increased by 8% YoY to USD 12.20 billion as compared with USD 11.28 billion in January to September 2006 period. Average sales price per ton increased by 8% YoY while total tons shipped to outside customers remained flat compared to the first nine months of 2006.

It’s consolidated net earnings of USD 381.2 million in Q3 of 2007 increased by 11% QoQ from the USD 344.9 million earned in Q2 of 2007 and decreased by 27% YoY as compared with USD 521.6 million earned in Q3 of 2006. In the Q3 of 2007, Nucor's consolidated net sales increased by 8% YoY to USD 4.26 billion as compared with USD 3.93 billion in Q3 of 2006 and increased by 2% QoQ as compared with USD 4.17 billion in Q2 of 2007. Average sales price per ton increased by 5% YoY from the Q3 of 2006 and decreased 1% QoQ from the Q2 of 2007. Total tons shipped to outside customers were 5,771,000 tons in Q3 of 2007, an increase of 3% YoY over the third quarter of 2006 and an increase of 3% QoQ over the second quarter of 2007.

In the steel mills segment, steel production decreased by 5% YoY to 16,503,000 tons in the first nine months of 2007, as compared with 17,318,000 tons produced in the first nine months of 2006. Total steel shipments decreased by 4% YoY to 16,663,000 tons in January to September 2007 period as compared with 17,286,000 tons in January to September 2006 period. Steel shipments to outside customers decreased by 5% YoY to 15,157,000 tons in January to September 2007 period as compared with 15,936,000 tons in January to September 2006 period.