Nucor reports third quarter 2005 earnings

Nucor reports third quarter 2005 earnings

North Carolina-based Nucor Corp. reported third quarter 2005 net sales decreased seven percent due in large part to weaker steel prices in the third quarter. Net sales were $3 billion, compared to net sales of $3.2 billion in the third quarter of 2004, a decrease of seven percent. Year-to-date net sales totaled $9.5 billion, an increase of 15 percent from the same period in 2004. Third quarter 2005 net earnings were $291.9 million, or $1.86 per diluted share, a decrease of 30 percent over the company's third quarter 2004 net income of $415.4 million, or $2.59 per diluted share. Year-to-date net earnings totaled $969.3 million, an increase of 24 percent for the same period in 2004. 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.