Nucor Reports Earnings of $356.9 Million

Thursday, April 20, 2017 3:32 PM Written by 
Published in Nucor

With consolidated sales of $4.82 billion which is a 30 percent increase over 1Q 2016 and net earnings of $356.9 million it was a good 1st Quarter 2017 for the company. The company reported that the second quarter earnings should exceed that of 1st Quarter.

The overall operating rates at the Nucor steel mills was 89 percent compared to 74 percent in 4th Quarter 2016 and 80 percent during the 1st Quarter 2016.

Even so, Nucor had time to discuss the trades cases concerning imports of cut-to-length plate, rebar and steel wire rod as the company makes sure that they can compete on a level-playing field.

Nucor CEO John Ferriola, in their earnings conference call, spoke about the meeting he had today with President Donald Trump as he signed the Executive Order directing the US Department Commerce to investigate steel imports and its impact on the security of the United States and key national industries.



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John Packard

John Packard is the President and Publisher of Steel Market Update. Since 1977, he has been an active participant in the flat rolled steel business in North America. His background provides the unique flavor and quality of Steel Market Update. John has held positions in the service center, steel mill and trading company segments of the flat rolled steel industry. John founded Steel Market Update, Inc. in August 2008. John can be reached via email at: John@SteelMarketUpdate.com or by phone: 800-432-3475.

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