4/21/2011 9:06:00 AM
NEWS BRIEFS
Nucor Reports First Quarter Results
Nucor reported cold finished steel sales, including results from Nucor Fastener, grew 21% to 134,000 tons in the first quarter of 2011.
Nucor’s consolidated net sales increased 32% to $4.83 billion compared with $3.65 billion due to a 22% increase in average sales price per ton and a 9% increase in total tons shipped to outside customers. Consolidated net sales increased 25% compared with $3.85 billion in the fourth quarter of 2010 due to a 12% increase in both total tons shipped to outside customers and in average sales price per ton.
The average scrap and scrap substitute cost per ton used during the first quarter of 2011 was $424, an increase of 33% compared to $318 in the first quarter of 2010 and an increase of 18% over $359 in the fourth quarter of 2010.
Overall operating rates at its steel mills increased to approximately 80% in the first quarter of 2011, compared to 73% in the first quarter of 2010 and 68% in the fourth quarter of 2010. As a result of this increased utilization, total energy costs decreased approximately $1 per ton from the first quarter of 2010. Total energy costs per ton were unchanged from the fourth quarter of 2010. ©2011 GlobalFastenerNews.com
Related Stories:
• Alcoa Fastening Segment Sees Record Margin Increase
• Grainger Posts “Exceptionally Strong” Results
Related Links:
• Nucor
Share: