Nucor Corporation announced today consolidated net earnings of $323.0 million for the second quarter of 2017. By comparison, Nucor reported net earnings of $356.9 million for the first quarter of 2017 and net earnings of $243.6 million for the second quarter of 2016.
Nucor's consolidated net sales increased 7 percent to $5.17 billion in the second quarter of 2017 from $4.82 billion in the first quarter of 2017 and increased 22 percent compared with $4.25 billion in the second quarter of 2016.
Average sales price per ton in the second quarter of 2017 increased 5 percent from the first quarter of 2017 and increased 17 percent from the second quarter of 2016. Total tons shipped to outside customers were 6,748,000 tons in the second quarter of 2017, a 2 percent increase from the first quarter of 2017 and a 5 percent increase from the second quarter of 2016. Total second quarter steel mill shipments increased 3 percent from the first quarter of 2017 and increased 7 percent from the second quarter of 2016. Second quarter of 2017 downstream steel products shipments to outside customers increased 9 percent from the first quarter of 2017 and increased 1 percent from the second quarter of 2016.
In a statement, the company said: “Earnings in the third quarter of 2017 should be in a range similar to the quarterly results of the first half of 2017. Nonresidential construction indicators, such as the Dodge Momentum Index and Architecture Billings Index, continue to suggest that construction activity will remain healthy through the end of the year. We continue to gain ground in the automotive market and expect to continue that trend through the remainder of the year. We are encouraged by improved energy markets compared to the depressed levels of 2015 and 2016.”