Nucor Sales Up 10%; Earnings Rise 43%

John Wolz

Nucor Corporation reported 2002 sales rose 10% over the previous year to $4.6 billion. Net earnings increased 43% to $162 million.
Fourth quarter 2002 sales increased 28% to $1.2 billion. Nucor attributed the sales increase to a 7% hike in average sales price per ton and 18% more tons shipped.
Cold finished steel � including fasteners � 2002 sales were 226,000 tons, compared with 203,000 tons for 2001.
Nucor projected the first quarter of 2003 to be “impacted by continuing weak economic conditions and severely depressed levels of non-residential construction. Shrinking margins are primarily due to lower selling prices and higher scrap prices. Web: Nucor.com @2003 FastenerNews.com