Nucor Fastener Division Sales Rise

Jason Sandefur

Nucor Corp. reported cold finished steel sales, including fasteners, increased 10% to 206,000 tons during the first half of 2006.
Consolidated sales rose 10% to $4.17 billion during the second quarter of 2007, while Q2 net earnings declined 23% to $344.9 million. Average sales price per ton during Q2 increased 13%, and total tons shipped to outside customers dropped 3% to 5.62 million tons. Increased scrap and energy costs reduced margins during Q2.
During the first half of 2007 consolidated sales grew 8% to $7.94 billion, with net income down 13% to $725.9 million. Six-month average sales price per ton increased 9% while total tons shipped to outside customers decreased 1%. Web: nucor.com �2007 FastenerNews.com