June 2008 -- Nucor Corp. recorded net earnings of $1.5 billion for 2007, compared with a record $1.8 billion
in 2006. Although net earnings decreased 16% from 2006 levels, 2007 was still the second-best
earnings year in Nucor's history. Sales increased 12% to a record $16.6 billion, compared with
$14.8 billion in 2006. Average sales price per ton increased 8% while total tons shipped to
outside customers increased 4% from 2006.
Fourth-quarter 2007 earnings were $364.8 million, which was actually a 4% drop from the third-
quarter and a 10% decrease from a year earlier. Nucor's average scrap and scrap substitute cost
per ton used increased 17% to $285 from the fourth quarter of 2006. Total steel shipments
remained flat at 22.4 million tons in 2007.
The company also completed the acquisition of Nelson Steel Inc. in the fourth quarter, while
Nucor's wholly owned subsidiary, Harris Steel Inc. completed three additional acquisitions.
Overall, the company expects the first quarter of 2008 to be another good one.
"We expect continued strength in our bar, beam and plate businesses. Our downstream businesses,
in particular rebar fabrication, should remain good," a Nucor spokesperson said in a statement.
"Market conditions for sheet have improved, in spite of reduced demand, because of a much better
balance between customer inventories and demand."
