June 14, 2006 — Nucor Corp. is increasing the earnings guidance for its second quarter as a result of strong shipments and higher margins.

Nucor expects net earnings for the second quarter, which ends July 1, 2006, to be in the range of $1.25 to $1.35 per share — significantly better than the $1.10 to $1.20 per share that the company had previously forecast. Nucor had earned $1.015 per share in the second quarter of 2005 and $1.21 per share in the first quarter of 2006. (Net earnings per share for all periods reflect a two-for-one stock split effective in May 2006.)

Nucor credits the favorable impact of continued strong demand and improving pricing, along with record-setting production, for the improved second quarter results. The company notes that results were also favorably impacted by lower-than-anticipated raw material cost increases.

Nucor says that it expects the strong business conditions to continue through the third quarter and well into the fourth quarter. The company says that it is well positioned to benefit from improving non-residential construction markets, and that it continues to benefit from the breadth of its product diversity.

Nucor and its affiliates manufacture steel products, with operating facilities in seventeen 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. Nucor is the nation's largest recycler.