1/28/2014 12:01:00 AM
NEWS BRIEFS
Nucor Fastener Segment Sales Rise
Nucor Corp. reported Cold Finished Steel sales, including results from Nucor Fastener, rose 11% to 115,000 tons in the final quarter of 2013.
However, the quarterly increase was not enough to keep overall segment sales from slipping 4% to 492,000 tons for the year.
Overall Q4 sales at Nucor rose 10% year-on-year to $4.89 billion – a decrease of 1% from the company’s third quarter revenue. Net earnings climbed 24% to $170.5 million.
Average sales price per ton increased 1% over the third quarter of 2013 and remained flat when compared with the fourth quarter of 2012.
Total tons shipped to outside customers were 6,019,000 tons in the fourth quarter of 2013, a 2% decrease from the third quarter of 2013 and a 10% increase over the fourth quarter of 2012.
Total fourth quarter steel mill shipments decreased 3% from the third quarter of 2013 and increased 9% over the fourth quarter of 2012. Fourth quarter downstream steel products shipments to outside customers decreased 6% from the third quarter of 2013 and increased 3% over the fourth quarter of 2012.
For the full year 2013, Nucor’s consolidated net sales decreased 2% to $19.05 billion, compared with $19.43 billion for 2012. Average sales price per ton decreased 5% from full year 2012. Total tons shipped to outside customers were 23,730,000 tons, an increase of 3% from 2012 levels.
Full-year net earnings slipped 3.3% to $488 million.
The average scrap and scrap substitute cost per ton used for the full year 2013 was $376, a decrease of 8% from $407 in 2012. The average scrap and scrap substitute cost per ton used in the fourth quarter of 2013 was $377, an increase of 1% over $372 in both the third quarter of 2013 and the fourth quarter of 2012.
Overall operating rates at our steel mills were 74% for the full year 2013, which is consistent with 2012 and 2011. Steel mill utilization rates in the fourth quarter (75%) were down from the third quarter (78%), but up from last year’s fourth quarter (71%).
For the full year 2013, total energy costs decreased approximately $1 per ton from the prior year primarily due to the negative impact of natural gas hedge settlements on our overall natural gas costs in 2012.
In the fourth quarter of 2013, total energy costs decreased approximately $2 per ton from the third quarter of 2013 due primarily to lower electricity unit costs, and decreased approximately $3 per ton from the fourth quarter of 2012 primarily due to natural gas hedge settlement costs in the fourth quarter of last year.
Related Stories:
• U.S. Industrial Fastener Demand to Rise Through 2017
• U.S. Fastener Exports Outpace Imports
• 2013 Brought Consistent Fastener Returns
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