Bouyed by increased margins, strengthening demand and turnarounds at its newest facilities, Nucor Corp. has announced increased earnings expectations for its second quarter ending July 3, 2004.

Nucor expects second quarter net earnings to be in the range of $2.75 to $2.95 per share, significantly better than the $.11 per share earned in the second quarter of 2003 and the $1.43 earned in the first quarter of 2004. Nucor had previously forecast second quarter net earnings to be between $2.00 and $2.20 per share. The consensus for the second quarter net earnings according to First Call had recently increased from $2.20 to $2.30 per share.

"Increased margins and the continued strengthening of global and domestic demand for steel have contributed to a better than expected second quarter," said Dan DiMicco, Nucor's Vice Chairman, President and CEO. "In addition, our two newest steel mills (the sheet mill in Decatur, Ala., and the plate mill in Hertford County, N.C.), which achieved significant turnarounds in the first quarter, have exceeded our performance expectations for the second quarter. Other positive factors in the second quarter include the continued strength of the sheet steel market and the improving performance of our steel products segment."

Nucor and affiliates manufacture steel products, with operating facilities in fourteen states. Products include carbon and alloy steel bars, beams, sheet and plate; steel joists and joist girders; steel deck; cold finished steel; steel fasteners; metal building systems; and light gauge steel framing.