Nucor reports better quarter

Nucor Corporation announced consolidated net earnings of $91.0 million, or $0.29 per diluted share, for the second quarter of 2010. By comparison, Nucor reported net earnings of $31.0 million, or $0.10 per diluted share, in the first quarter of 2010 and a net loss of $133.3 million, or $0.43 per diluted share, in the second quarter of 2009.

In the first half of 2010, Nucor reported consolidated net earnings of $122.0 million, or $0.38 per diluted share, compared with a net loss of $323.0 million, or $1.03 per diluted share, in the first half of last year.

In the second quarter of 2010, Nucor’s consolidated net sales increased 15 percent to $4.20 billion compared with $3.65 billion in the first quarter of 2010 and increased 69 percent compared with $2.48 billion in the second quarter of 2009. Average sales price per ton increased 14 percent from the first quarter of 2010 and increased 25 percent from the second quarter of 2009.

Total tons shipped to outside customers were 5,555,000 tons in the second quarter of 2010, an increase of 1 percent over the first quarter of 2010 and an increase of 35 percent over the second quarter of 2009. Total second quarter steel mill shipments increased 53 percent over 2009’s second quarter and were down 2 percent from the first quarter of 2010.