Stock Symbol: NUE
2100 Rexford Road
Nucor Corporation Industry:
Iron & Steel
Nucor Corporation Description:
Nucor Corporation is the largest steel producer in the US & has over $6.2 billion in sales annually. Nucor is the nation's largest recycler, recycling over 14 million tons of scrap steel annually. Nucor's origins are with auto manufacturer Ransom E. Olds, who founded Oldsmobile & then Reo Motor Cars. Through a series of transactions,the company Olds founded eventually became the Nuclear Corporation of America. Nuclear Corporation was involved in the nuclear instrument & electronics biz in the 1950's & early 1960's. The company suffered through several money-losing years, & when facing bankruptcy in 1964, installed F. Kenneth Iverson as President & Samuel Siegel as VP of Finance. This change in management led to a restructuring & a decision to rebuild the company around the major profitable operations; the steel joist businesses in Florence, South Carolina & Norfolk, Nebraska called Vulcraft.
Nucor Corporation Financial Summary:
For the nine months ended 1 October 2005, Nucor Corporation's revenue increased 15% to $9.49B. Net income increased 24% to $969.3M. Revenue reflects the increment in sales price and sales volume. Net income also reflects better operating margin, higher other income and less finance cost. The Company is engaged in the manufacture and sale of steel products, including hot-rolled, cold-rolled and more.
Nucor Corporation Business Summary:
Nucor Corporation is engaged in the manufacture and sale of steel and steel products. The Company operates in two segments: steel mills and steel products. Principal products from the steel mills segment are hot-rolled steel (angles, rounds, flats, channels, sheet, wide-flange beams, pilings, billets, blooms, beam blanks and plate) and cold-rolled steel. Principal products from the steel products segment are steel joists and joist girders, steel deck, cold finished steel, steel fasteners, metal building systems and light gauge steel framing. Hot-rolled steel is manufactured principally from scrap, utilizing electric arc furnaces, continuous casting and automated rolling mills. Cold-rolled steel, cold-finished steel, steel joists and joist girders, and steel fasteners are manufactured by further processing of hot-rolled steel. Steel deck is manufactured from cold-rolled steel. During the year ended December 31, 2004, Nucor recycled over 17 million tons of scrap steel.