Nucor’s earnings slump in Q1 compared to previous quarter

Friday, 25 April 2014 09:45:54 (GMT+3)   |   San Diego
       

Nucor Corporation announced Thursday consolidated net earnings of $111.0 million, or $0.35 per diluted share, for the first quarter of 2014. By comparison, Nucor reported net earnings of $84.8 million, or $0.26 per diluted share, for the first quarter of 2013 and net earnings of $170.5 million, or $0.53 per diluted share, in the fourth quarter of 2013. 

Nucor's consolidated net sales increased 12 percent to $5.11 billion in the first quarter of 2014 from $4.55 billion in the first quarter of 2013 and increased 4 percent compared with $4.89 billion in the fourth quarter of 2013.  Average sales price per ton increased 3 percent over the first quarter of 2013 and increased 1 percent over the fourth quarter of 2013. Total tons shipped to outside customers were 6,189,000 tons in the first quarter of 2014, an 8 percent increase over the first quarter of 2013 and a 3 percent increase over the fourth quarter of 2013, despite severe weather conditions.  Total first quarter steel mill shipments increased 5 percent from the fourth quarter of 2013 and increased 7 percent over the first quarter of 2013.  First quarter downstream steel products shipments to outside customers decreased 1 percent from the fourth quarter of 2013 and increased 13 percent over the first quarter of 2013.

Looking forward, Nucor expects some improvement in second quarter of 2014 earnings from the first quarter of 2014, excluding the impact of the tax and disposal of assets charges incurred in the first quarter. The company anticipates improved performance at both steel mills and fabricated construction product businesses (rebar fabrication, joist and decking and pre-engineered metal buildings), although imports are expected to continue to pressure pricing and margins at steel mills. Additionally, the company remains cautiously optimistic about the small but noticeable improvement in the nonresidential construction markets in 2014.


Similar articles

Nucor expects lower earnings for Q4

14 Dec | Steel News

Nucor reports decreased net earnings in Q3

24 Oct | Steel News

Nucor expects lower earnings in Q3

15 Sep | Steel News

Nucor reports slightly higher quarter-on-quarter net earnings in Q2

25 Jul | Steel News

Nucor reports another quarter of lower net earnings in Q1

20 Apr | Steel News

Nucor expects drop in net earnings for Q1

16 Mar | Steel News

Nucor reports record profit for 2022, but lower quarterly earnings

26 Jan | Steel News

Nucor expects lower net earnings in Q4

15 Dec | Steel News

Nucor reports lower net earnings for Q3

20 Oct | Steel News

Nucor expects lower net earnings for Q3

14 Sep | Steel News