PITTSBURGH (AP) - Nucor Corporation says its third-quarter profit nearly doubled as robust sales from recently acquired steel and scrap-metal companies bolstered results. The steel-maker has two plants in Arkansas, just east of Blytheville.
The Charlotte, N.C.-based company reported profit of $734.6 million, or $2.31 per share, for the three months ended Sept. 27. That compares with $381.2 million, or $1.29 per share, during the same period last year.
Quarterly sales jumped 75 percent to a record $7.45 billion from $4.26 billion a year ago.
The results handily beat the average estimates of analysts polled by Thomson Reuters, who expected profit of $2.19 per share on revenue of $7.39 billion. Those estimates typically exclude one-time items.
Shares of Nucor shot up $4.37, or 16 percent, to close at $31.79.