Nucor Expects Higher Sales; Cash for Acquisitions

John Wolz

Nucor Corporation executive vice president Michael Parrish predicted revenue and earnings would improve this year if the U.S. economy remains strong.
“Sales should be close to the $4.5 billion range,” Parrish told analysts at U.S. brokerage Robinson-Humphrey Co. conference. Sales were about $4 billion last year.
Parrish described the Nucor balance sheet as “lazy” because of its large cash position. The $970 million in cash at the end of 1999 may be used for acquisitions. “We are looking to aggressively spend this money,” Parrish said.