Thursday, July 17, 2008

Nucor 2Q profit jumps 68 percent

Steel maker Nucor Corp. says strong shipments and growing margins lifted its second-quarter profit by 68 percent, beating Wall Street expectations.

Nucor said Thursday it earned $580.8 million, or $1.94 per share, in the quarter ended June 28. That's up from $344.9 million, or $1.14 per share, a year ago.

Nucor says its sales rose 70 percent to $7.09 billion, partly on higher volumes. It says its average sales price climbed 24 percent.

 

Now ain't that a surprise! i wonder how it's customers are doing?

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