5/8/2013 8:58:00 AM
HEADLINES
STOCKS: Nucor Fastener Segment Sales Rise
Nucor Corp. reported cold finished steel sales, including Nucor Fastener results, declined 12% to 122,000 tons in the opening quarter of 2013 compared with the first quarter of 2012. However cold finished steel sales improved 17% from the previous quarter.
Overall Nucor sales decreased 10% to $4.55 billion compared with Q1 2012, but rose 2% from the previous quarter.
Average sales price per ton decreased 7% from the first quarter of 2012 and decreased 2% from the fourth quarter of 2012. Total tons shipped to outside customers were 5,706,000 tons in the first quarter of 2013, a 4% decrease from the first quarter of 2012 and a 4% increase over the fourth quarter of 2012.
The average scrap and scrap substitute cost per ton used during the first quarter of 2013 was $379, a decrease of 15% from $445 in the first quarter of 2012 and an increase of 2% compared to $372 in the fourth quarter of 2012.
Q1 net earnings fell 41% to $84.8 million compared to the opening quarter of 2012, and dropped 38% from the previous quarter.
“We continue to be cautiously optimistic about non-residential construction markets in 2013 as they continue to improve slowly from historically low levels,” the company stated. “The strongest end markets continue to be in manufactured goods including energy and automotive.” ©2013 GlobalFastenerNews.com
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