Nucor Corporation announced Thursday consolidated net earnings of $147.0 million for the second quarter of 2014. By comparison, Nucor reported net earnings of $111.0 million in the first quarter of 2014 and net earnings of $85.1 million in the second quarter of 2013.
In the first half of 2014, Nucor reported consolidated net earnings of $258.1 million, compared with consolidated net earnings of $169.9 million in the first half of last year.
Nucor's consolidated net sales increased 4 percent to $5.29 billion in the second quarter of 2014 compared with $5.11 billion in the first quarter of 2014 and increased 13 percent compared with $4.67 billion in the second quarter of 2013. Average sales price per ton increased 1 percent over the first quarter of 2014 and increased 4 percent over the second quarter of 2013. Total tons shipped to outside customers were 6,370,000 tons in the second quarter of 2014, a 3 percent increase over the first quarter of 2014 and an increase of 9 percent over the second quarter of 2013. Total second quarter steel mill shipments increased 1 percent over the first quarter of 2014 and 9 percent over the second quarter of 2013. Second quarter downstream steel products shipments to outside customers increased 17 percent over the first quarter of 2014 and increased 11 percent over the second quarter of 2013.
In the first half of 2014, Nucor's consolidated net sales increased 13 percent to $10.40 billion, compared with $9.22 billion in last year's first half. Total tons shipped to outside customers increased 9 percent from the first half of 2013, while average sales price per ton increased 4 percent.
Overall operating rates at Nucor’s steel mills increased to 79 percent in the second quarter of 2014 as compared with 75 percent in the first quarter of 2014 and 73 percent in the second quarter of 2013. Steel mill utilization increased to 77 percent in the first half of 2014 from 73 percent in the first half of 2013.