Nucor income drops on low steel sheet pricing

Jul 18, 2013 | 10:37 AM | Catherine Ngai

Tags  Nucor, earnings report, Nucor net income, catherine ngai

NEW YORK — Nucor Corp.’s net income fell sharply in the second quarter compared with the same period last year due to weakness in the steelmaker’s steel sheet segment as pricing fell to multiyear lows.

Net income attributable to Nucor shareholders totaled nearly $85.15 million for the three months ended June 29, down 24.2 percent from $112.3 million a year earlier but in line with $84.8 million in the first three months of this year, the Charlotte, N.C.-based steel producer said July 18.

Net sales of $4.67 billion were down 8.6 percent from $5.1 billion a year ago but 2.5 percent higher than $4.55 billion in the first quarter of this year.....

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