Nucor net income drops 41.6% in 1st qtr.

Apr 18, 2013 | 11:11 AM | Catherine Ngai

Tags  Nucor, quarterly earnings, steel mills, flat products, steel, Catherine Ngai

NEW YORK — Nucor Corp.’s net income plunged nearly 42 percent in the first quarter as the steelmaker failed to experience the typical seasonal uptick in volumes and pricing.

Net income attributable to Nucor stockholders totaled $84.8 million for the three months ended March 30, down 41.6 percent from $145.1 million in the same year-ago period and 38.1 percent below the $136.9 million logged in the previous quarter, the Charlotte, N.C.-based steelmaker said April 18. Net sales dropped 10.3 percent to $4.55 billion for the period from $5.07 billion in the first quarter of 2012 but rose slightly from $4.45 billion in the fourth quarter of last year.....

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