Nucor reports record results for 2005; flat results for Q4

Nucor reports record results for 2005; flat results for Q4

Nucor Corporation announced today record net earnings and sales for 2005. Consolidated net earnings for 2005 were $1.31 billion, or $8.26 per diluted share, a 17 percent increase over net earnings of $1.12 billion, or $7.02 per diluted share, in 2004. Net sales for 2005 were $12.70 billion, a 12 percent increase from the $11.38 billion earned in 2004. Nucor's stellar results in 2005 are largely due to an increase in production, shipments, and sales prices for its bar, plate, and beam products. Consolidated net earnings of $341.0 million, or $2.18 per diluted share, in this year's fourth quarter were relatively flat compared with $341.4 million, or $2.12 per diluted share, earned in the fourth quarter of 2004. According to Nucor, this result was primarily due to a smaller number of shares outstanding during the quarter. In the fourth quarter of 2005, Nucor's consolidated net sales increased 4 percent to $3.21 billion, compared to sales of $3.09 billion in the fourth quarter of 2004. In its press release, Nucor shared its expectations for Q1 2006: "Nucor expects that the first quarter of 2006 will be another strong quarter, as we continue to benefit from product line diversification. We expect that overall demand and margins for our products will remain strong and that earnings will be in the range of $1.90 to $2.10 per diluted share." Nucor Corporation, the nation's largest recycler, has steel manufacturing facilities in sixteen states, producing carbon and alloy steel products which include: bars, beams, sheet and plate, joists, deck, cold finished, steel fasteners, metal building systems, and light gauge steel framing.