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| Nucor Gets $145.1M Net Profit In Q1 Results |
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US electric steelmaker Nucor Corp won a net profit of $145.1 million in its consolidated earnings results for the first quarter (January-March) of 2012, down 9.2% from the same quarter of 2011. Nucor announced its Q1'12 consolidated results of $5,072.59 million in sales, up 4.8% from Q1'11; $206.75 million in pretax profit, down 15.6%; and $145.1 million in net profit, down 9.2%. The net profit per diluted share stood at $0.46, down from $0.50 in Q1'11. Sales prices of steel products averaged $857/ton in Q1'12, up $48 or 5.9% from Q1'11, when the average price rose by $7 or 0.8% from Q4'11. Shipments of steel products totaled 5,235,000 tons in Q1'12, up 1% from Q1'11, but the total volume of outside sales decreased by 1.0% to 5,921,000 tons. The costs of raw materials such as ferrous scrap averaged $445/ton in Q1'12, up $21 or 5.0% from Q1'11, when the average cost rose by $4 or 0.9% from Q4'11. With a fall in natural gas prices, total energy costs in steel operations decreased by $2/ton both from Q1'11 and Q4'11. Meanwhile, construction is well under way on Nucor's DRI facility in Louisiana that would go on stream in mid-2013 to produce 2,500,000 tpy. |
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| last modified : Thu 26 Apr, 2012 [14:22] |
