Nucor Corp. (NUE) reported a drop in its first-quarter net earnings to $145.1 million, or $0.46 per share from $159.8 million, or $0.50 per share in the prior year. On average, 18 analysts polled by Thomson Reuters expected earnings per share of $0.39 for the quarter. Analysts' estimates typically exclude one-time items.
However, Nucor's consolidated net sales went up 5% to $5.07 billion from $4.83 billion in the 2011 first quarter, due to a 6% rise in average sales price per ton partially offset by a 1% decline in total tons shipped to outside customers. Analysts estimated revenues of $5.05 billion for the quarter.
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