June 2007 -- Nucor Corp. manufactures steel products, with operating facilities in 19 states. Products include carbon and alloy steel, steel joists and joist girders, steel deck, cold finished steel, steel fasteners, metal building systems, and light gauge steel framing. The company claims to be the nation's largest recycler.
Nucor had a record year in 2006, with net sales up 16% to $14.75 billion, compared with $12.70 billion in 2005. Net earnings increased 34% from 2005: $1.76 billion vs. $1.31 billion. The average sales price per ton increased 7% while total tons shipped to customers was up 8% from 2005.
Those positive trends continued into the first quarter of 2007, when Nucor announced record first quarter net earnings for the fourth consecutive year, posting $381.0 million for the first quarter, a slight gain on the $380.0 million reported in the first quarter of 2006. Net sales, meanwhile, increased 6% to $3.77 compared with $3.55 billion for the comparable quarter in 2006.
In March 2007, Nucor acquired Harris Steel Group Inc., a Canadian steel producer, for C$1.20 billion. Harris Steel has several business units: Harris Rebar, which is involved in the fabrication and placing of concrete reinforcing steel and the design and installation of concrete post-tensioning systems; Laurel Steel, a manufacturer and distributor of wire and wire products, welded wire mesh and cold finished bar; and Fisher & Ludlow, a manufacturer and distributor of heavy industrial steel grating, aluminum grating and expanded metal. These operations serve customers throughout Canada and the United States. Harris Steel employs approximately 3,000 people.
For further financial information visit http://www.nucor.com/indexinner.aspx?finpage=investorinfo.
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