Steel Maker Nucor Second Quarter Profit Jumps 68%
Associated Press
2008-07-17 07:50:00.0
|
|
|
| |
|
Steel maker Nucor Corp. says strong shipments and growing margins lifted its second-quarter profit by 68%, beating Wall Street expectations.
Nucor said Thursday it earned $580.8 million, or $1.94 per share, in the quarter ended June 28. That's up from $344.9 million, or $1.14 per share, a year ago.
Nucor says its sales rose 70% to $7.09 billion, partly on higher volumes. It says its average sales price climbed 24%.
Thomson Financial says the consensus of analysts it surveyed was for earnings per share of $1.83 on sales of $6.37 billion.
North Carolina-based Nucor operates steel-making facilities in Decatur, Tuscaloosa and Birmingham.
(Copyright 2008 by The Associated Press. All Rights Reserved.)
|
