Steel Imports, Low Prices Batter Nucor and Steel Dynamics' First-Quarter Profits

SUGAR LAND--April 24, 2015--Researched by Industrial Info Resources (Sugar Land, Texas)--The continued flood of steel imports and resulting low prices pummeled first-quarter results for Nucor Corporation (NYSE:NUE) (Charlotte, North Carolina), which reported a 39% drop in earnings from the same quarter last year. Industrial Info is tracking 22 active Nucor projects with a combined worth of $542.5 million. Earlier this week, Steel Dynamics Incorporated (NASDAQ:STLD) (Fort Wayne, Indiana) said steel imports and customer inventory overhang drove a 44% reduction in consolidated operating income. Industrial Info is tracking 10 active Steel Dynamics projects with a combined worth of $51.5 million.

Within this article: First quarter earnings results for Nucor and Steel Dynamics, with details on ongoing projects.