Charlotte steelmaker Nucor reported second-quarter earnings Thursday that were down from 2014 but that beat Wall Street estimates thanks to better-than-expected performance in the steel mills segment.
For the quarter ending July 4, the company’s earnings attributable to shareholders were $124.8 million, down 15.1 percent from the same quarter last year, Nucor said in a securities filing. On a per-share basis, earnings were 39 cents, topping the 25-cent estimate of Bloomberg-surveyed analysts.
Quarterly sales plunged 17.6 percent to $4.4 billion, but beat the Wall Street consensus estimate of $4.3 billion.
The company, which has warned against the threat of foreign steel flooding U.S. markets and pushing its prices down, said second-quarter steel mill shipments rose 9 percent since the first quarter, but overall performance decreased.
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“Pricing remains under pressure from exceptionally high levels of imports,” the company said in a statement, adding that imports accounted for an estimated 32 percent of the finished steel market in the first half of 2015, compared with 27 percent in the first half of 2014.
Nucor employs about 100 people at its headquarters in SouthPark.
Sales surge at Carlisle Cos.
Charlotte manufacturer Carlisle Cos. reported second-quarter earnings Thursday that beat Wall Street expectations as sales surged almost 15 percent.
For the three months that ended June 30, earnings rose 26.2 percent from the same quarter in 2014 to $94.9 million, according to a securities filing. On a per-share basis, earnings from continuing operations were $1.43, one penny above the consensus estimate from analysts surveyed by Bloomberg. Katherine Peralta