Net income was $91 million
Net income was $91 million, or 29 cents a share, in the second quarter, compared with a loss of $133.3 million, or 43 cents, a year earlier, Charlotte, North Carolina-based Nucor said today in a statement. The results beat the 25-cent average estimate of 12 analysts surveyed by Bloomberg. Sales surged 69 percent to $4.2 billion.
Nucor, led by Chief Executive Officer Dan DiMicco, ran its mills at 71 percent of capacity, compared with 46 percent a year earlier. Steel shipments rose 53 percent from a year earlier and prices increased 25 percent.
“The quality of earnings was very good,” Michelle Applebaum, who runs a Chicago-based equity research company, said today in a telephone interview. “It was a strong volume quarter, particularly in the flat-rolled side, and they had good pricing.” She rates the shares “buy.”
Nucor rose $1.04, or 2.7 percent, to $40.15 as of 10:52 a.m. in New York Stock Exchange composite trading. The shares dropped 16 percent this year through yesterday.
阅读(180) | 评论(0) | 转发(0) |
