Nucor’s 3d-qtr. net income up 33.8%

Oct 17, 2013 | 01:22 PM | Catherine Ngai

Tags  steel, Nucor, direct-reduced iron, steel sheet, Nucor-Yamato, quarterly earnings, mill shipments, Catherine Ngai

NEW YORK — Nucor Corp.’s net income jumped 33.8 percent year on year in the third quarter on improved profitability in its sheet and structural steel divisions.

A 17-day planned outage in the second quarter and customer inventory restocking at its Nucor-Yamato Steel Co. facility in Blytheville, Ark., also helped boost profits, the Charlotte, N.C.-based steelmaker said Oct. 17.

However, earnings for the three months ended Sept. 28 were negatively affected by a net $14-million partial write-down of inventory and fixed assets related to the collapse of a storage dome at its St. James Parish, La., direct-reduced iron facility (amm.com, Sept. 26). While there was no environmental impact, Nucor said the incident would delay the start-up of operations until year-end.....





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