7/21/2011 12:40:00 PM
NEWS BRIEFS
Nucor Fastener Segment Sees Double-Digit Sales Jump
Nucor Corp. reported cold finished steel sales, including revenue from Nucor Fastener, rose 10% to 129,000 tons in the second quarter of 2011.
First-half cold finished steel sales climbed 15% to 263,000 tons.
Consolidated net sales increased 22% to $5.11 billion in Q2, while average sales price per ton grew 21%. Total tons shipped to outside customers dropped 1% to 5,598,000 tons, and Q2 downstream steel products shipments to outside customers increased 3%. Net earnings soared 229% to $299.8 million.
“These increases in profits…were achieved despite the rebalancing by our customers of supply chain inventories, the impact on the manufacturing/auto sector of the devastating Japanese earthquake/tsunami and the lost sales, production and shipments from the weather-related power outages and historic river flooding in North America,” the company stated.
In the first half of 2011, Nucor’s consolidated net sales increased 27% to $9.94 billion, compared with $7.85 billion in last year’s first half. Average sales price per ton increased 21% while total tons shipped to outside customers increased 5%. ©2011 GlobalFastenerNews.com
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Related Links:
• Nucor
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