Nucor reported Q1 results today. See the company’s press release here. Nucor’s EBITDA per ton was ($30), slightly better than the results reported by AK Steel and Steel Dynamics. The results in Q1 and Q2 will be painful for the steel industry but illuminating for steel nerds because we’ll have an opportunity to see what operating below 50% of capacity does to the cash flow and balance sheets of steel companies. Keep track by checking out the Nerds of Steel earnings spreadsheet.
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