Nucor profits nearly triples as steel tariffs kick in
Oct 18 (Reuters) – U.S. steelmaker Nucor Corp on Thursday reported a third-quarter profit that nearly tripled as a strong U.S. economy and President Donald Trump’s hefty tariffs on steel imports supported robust growth in both shipments and prices.
Net income attributable to shareholders rose to $676.66 million in the third quarter ended Sept. 29 from $254.85 million a year earlier. The company posted earnings per share of $2.13, compared with 79 cents a year earlier.
Net sales rose to $6.74 billion from $5.2 billion. (Reporting by Rachit Vats in Bengaluru; Editing by Anil D’Silva)
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