Nucor announces second quarter earnings

Nucor announces second quarter earnings

Steel producer Nucor Corp. reported its second quarter net earnings rose nearly 28 percent due in large to improvements in the market for sheet products. Net sales rose to $3’145 million for the second quarter 2005, a year-on-year increase from $2’761.8 million. Year-to-date net sales were reported as $6’467.6 million, a 22 percent increase from same period in 2004. Net earnings were reported as $322.7 million, or $2.03 per diluted share, compared to $251.4 million, or $1.11 per diluted share, for the second quarter 2004. Year-to-date 2005 net income was $677.4 million while year-to-date 2004 net income was $367.4 million. Dan DiMicco, Nucor's CEO glowing over the earnings said, "This proves the value of our position as the most diversified steelmaker in North America. We're not tied to any one market." Nucor and affiliates are manufacturers of steel products, with operating facilities in sixteen states. Products produced are: carbon and alloy steel - in bars, beams, sheet and plate; steel joists and joist girders; steel deck; cold finished steel; steel fasteners; metal building systems; and light gauge steel framing. Nucor is the nation's largest recycler.