Nucor Corp. reported Cold Finished Steel segment sales, including results from Nucor Fastener, fell 3% to 143,000 tons in the opening quarter of 2019.

Consolidated Nucor sales decreased 3% to $6.1 billion in Q1 compared with $6.3 billion in the fourth quarter of 2018, and increased approximately 10% compared with $5.57 billion in the first quarter of 2018.

Q1 average sales price per ton dropped 4%. Total tons shipped to outside customers grew 1% to 6,767,000 tons. Total steel mill shipments in Q1 increased 2% from the fourth quarter of 2018 and decreased 4% from the first quarter of 2018. Downstream steel products shipments to outside customers fell 2%.

The average scrap and scrap substitute cost per ton used during the first quarter of 2019 was $352, a 2% decrease compared to $359 in the fourth quarter of 2018 and an increase of 4% compared to $337 in the first quarter of 2018.

Q1 net earnings increased 42% to $501.8 million.

“Our plate, bar, and structural mills were strong contributors in the first quarter, and several of our downstream businesses also increased earnings as compared to the year ago period,” said CEO John Ferriola. Web: Nucor.com