10/20/2011 10:57:00 AM
NEWS BRIEFS
Nucor Fastener Segment Sales Drop in Q3
Fastener segment sales up 9% for year
Nucor Corp. reported cold finished steel sales, including revenue from Nucor Fastener, declined 4% to 118,000 tons in the third quarter of 2011. The drop follows a double-digit increase in tonnage shipped in the previous quarter.
Nine-month cold finished steel sales increased 9% to 381,000 tons.
Participating in a panel discuss at the National Industrial Fastener and Mill Supply Expo in Las Vegas, Nucor Fastener sales manager Jim Witucki said to be successful, U.S. fastener manufacturers should align themselves with stable suppliers, as well as understand their costs and set prices accordingly.
Consolidated net sales increased 3% to $5.25 billion in Q3, while average sales price per ton gained 24%. Total tons shipped to outside customers grew 3% to 5,785,000 tons, and Q3 downstream steel products shipments to outside customers increased 5%. Net earnings soared 229% to $299.8 million.
“End markets such as automotive, heavy equipment, energy and general manufacturing have continued to show the most strength compared to 2010 but have shown very little improvement compared to the first half of 2011, the company stated.
In the first nine months of 2011, Nucor’s consolidated net sales increased 27% to $15.19 billion. Average sales price per ton increased 22% while total tons shipped to outside customers rose 4%. ©2011 GlobalFastenerNews.com
Nucor Corp. reported cold finished steel sales, including revenue from Nucor Fastener, declined 4% to 118,000 tons in the third quarter of 2011. The drop follows a double-digit increase in tonnage shipped in the previous quarter.
Nine-month cold finished steel sales increased 9% to 381,000 tons.
Participating in a panel discuss at the National Industrial Fastener and Mill Supply Expo in Las Vegas, Nucor Fastener sales manager Jim Witucki said to be successful, U.S. fastener manufacturers should align themselves with stable suppliers, as well as understand their costs and set prices accordingly.
Consolidated net sales increased 3% to $5.25 billion in Q3, while average sales price per ton gained 24%. Total tons shipped to outside customers grew 3% to 5,785,000 tons, and Q3 downstream steel products shipments to outside customers increased 5%. Net earnings soared 229% to $299.8 million.
“End markets such as automotive, heavy equipment, energy and general manufacturing have continued to show the most strength compared to 2010 but have shown very little improvement compared to the first half of 2011,” the company stated.
In the first nine months of 2011, Nucor’s consolidated net sales increased 27% to $15.19 billion. Average sales price per ton increased 22% while total tons shipped to outside customers rose 4%. ©2011 GlobalFastenerNews.com
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