Nucor Profits Rise 4 Percent on Steel Prices

CHARLOTTE, NC - Steelmaker and scrap metal recycler Nucor Corporation announced today its first quarter earnings increased four percent as strong metal prices offset lower production.

While steel production fell four percent from the year-ago period, the Charlotte-based company said its average sales price increased by six percent.  That helped Nucor earn $381 million, or $1.26 per share, compared with $380 million, or $1.21 per share, during the same period a year ago.

Nucor has two Arkansas plants near Blytheville, in Mississippi County.

(The Associated Press contributed to this report.)