Nucor, steel dynamics report record results

Metal Center News, November, 2004

Minimill steel giants Nucor Corp. and Steel Dynamics Inc. each reported record financial results for the third quarter.

At $415.4 million, Nucor's net income for the third quarter exceeded its previous record annual earnings, on sales that topped $3.23 billion (a 102 percent increase over third quarter 2003). For the nine months ended Oct. 2, Nucor earned more than $780 million on sales that topped $8.28 billion (an 80 percent increase over the same period in 2003).

Nucor says its record quarterly results are primarily attributable to higher average selling prices and increased profit margins, accompanied by the successful integration of the coiled plate mill in Tuscaloosa, Ala., and the cold-rolling mill in Decatur, Ala., both acquired earlier this year....