Global Fastener News

Nucor Continues Record Profits

Jason Sandefur

Steelmaker Nucor Corp. reported cold finished steel sales, including fasteners, remained flat at 261,000 tons during the first nine months of 2006.
Revenue during the third quarter of 2006 increased 30% to $3.93 billion, with Q3 net income jumping 77% to $517.6 million. Average sales price per ton increased 23% and total tons shipped to outside customers rose 6% to 5.6 million tons.
Consolidated revenue during the first nine months of 2006 increased 19% to $11.28 billion, while net earnings soared 39% to a record $1.35 billion, exceeding the company’s annual earnings for 2005. Average sales price per ton increased 7% while total tons shipped to outside customers gained 11% to 17.29 million tons.
The average scrap and scrap substitute cost per ton used increased 1% to $247 in the first nine months of 2006, which included an 18% jump to $257 in the third quarter of 2006. Web: nucor.com �2006 FastenerNews.com