Steel maker Nucor Corp.'s (NUE) first-quarter net earnings slid to $84.8 million, or $0.26 per share, from $145.1 million, or $0.46 per share, last year. On average, 17 analysts polled by Thomson Reuters expected earnings per share of $0.25 for the quarter. Analysts' estimates typically exclude one-time items.
Nucor's consolidated net sales were down 10% to $4.55 billion in the first quarter of 2013 from $5.07 billion in the first quarter of 2012. Average sales price per ton slid 7% year-over-year. Analysts estimated revenues of $4.61 billion for the quarter.
The company said it incurred a charge to value inventories using the last-in, first-out or LIFO method of accounting of $18.0 million in the first quarter of 2013, compared with a charge of $14.5 million last year. Also affecting earnings in the first quarter 2012 was a non-cash gain of $12.6 million on the recognition of state tax credits and the adjustment of tax expense to previously filed returns.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.