Nucor posts Q2 financial results
Charlotte, US-based steel producer
Nucor Corporation has recently posted financial results of second quarter ended on June 30, 2004.
In the second quarter of 2004, consolidated sales of
Nucor have increased by 82% to $2.76 billion compared with net sales of $1.5 billion recorded in the corresponding period of 2003. In the first half of 2004, consolidated net sales increased to $5.048 billion, up by 68% against $3 billion recorded in the first half of 2003.
Consolidated net earnings in the second quarter were recorded as $251.4 million against $8.4 million recorded in the same quarter of previous year. Moreover, in the first six-month period of 2004, consolidated net earnings were recorded as $364.7 million compared with $26.2 million recorded in the first six-month period of 2003.
Steel
production in the first half of 2004 amounted to 10'081'000 tons, compared with 8'545'000 tons recorded in the first half of 2003.
Nucor officials attribute the increase in earnings and sales to strong demand for the company's products and the increase in the base prices.