Nucor Corp. reported cold finished steel sales, including results from Nucor Fastener, fell 18% to 116,000 tons in the third quarter of 2019.

Consolidated Q3 sales at Nucor decreased 7% to $5.46 billion compared with $5.9 billion in the second quarter of 2019 and decreased 19% compared with $6.74 billion in the third quarter of 2018.

Average sales price per ton fell 5% compared with the second quarter of 2019 and decreased 13% compared with the third quarter of 2018. A total of 6,555,000 tons were shipped to outside customers in Q3, a 3% decrease from the second quarter of 2019 and a 7% decrease from the third quarter of 2018.

Downstream steel product shipments to outside customers increased 5% from the second quarter of 2019 and were similar to downstream steel product shipments to outside customers in the third quarter of 2018.

Q3 net earnings declined 29% to $275 million from $386.5 million in the second quarter of 2019, and dropped 59% from $676.7 million for the third quarter of 2018.

During the first nine months of 2019, cold finished steel sales dropped 11% to 390,000 tons.

Nine-month consolidated net sales decreased 7% to $17.46 billion. Total tons shipped to outside customers slipped 5% to 20,046,000, while the average sales price per ton decreased 2%.

Nine-month net earnings dropped 32% to $1.16 billion. Web: Nucor.com