Nucor reports $299M in 2Q profit

Nucor Corp. said it had higher net profit in the second quarter of 2011 compared with the same quarter a year ago as sales rose 22 percent from a year ago.

The Charlotte-based steel-products manufacturer said it had net profit of $299.8 million, or 94 cents per diluted share, up from $91 million, or 29 cents per diluted share, in the year-ago quarter.

Nucor’s consolidated net sales increased 6 percent to $5.1 billion in the second quarter of 2011 compared with $4.2 billion in the second quarter of 2010. Average sales price per ton increased  21 percent from the second quarter of 2010.

In the first half of 2011, Nucor reported net earnings of $459.6 million, or $1.44 per diluted share, compared with consolidated net earnings of $122 million, or 38 cents per diluted share, in the first half of last year.

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