March 13, 2006 — Nucor Corp. is increasing its earnings guidance for its first quarter ending April 1, 2006, with net earnings expected to be in the range of $2.20 to $2.40 per share — significantly better than the previous forecast of $1.90 to $2.10 per share.

By comparison, Nucor earned $2.20 per share in the first quarter of 2005 and $2.18 per share in the fourth quarter of 2005.

Nucor attributes the increase to strong shipments and better-than-expected margins, which have been favorably impacted by a stable scrap pricing environment. Nucor also continues to benefit from product line diversification, with all product lines exceeding performance expectations for the first quarter.

Nucor also anticipates that the second quarter of 2006 will continue to be strong as overall demand and, in particular, the non-residential construction markets continue to improve. The company says that results for the second half of the year will depend on the level and pricing of imports, which could negatively influence the balance of supply and demand in the market.

Nucor and affiliates manufacture steel products, with operating facilities in sixteen 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.