Steel Mills
April 23, 2019
Nucor Quarterly Sales Impacted by Lower Steel Prices
Written by Sandy Williams
Nucor announced net income of $501.8 million for the first quarter of 2019, a 22 percent decrease from income of $646.85 million in the fourth quarter. Net sales slipped 3.0 percent sequentially to $6.10 billion from the fourth quarter as the average sales price per ton dipped 4.0 percent.
The drop in earnings was expected due to lower average selling prices and margins for sheet products, said Nucor. Challenging winter conditions also impacted sales by delaying shipments to Nucor’s construction customers.
