This morning Nucor announced Q3 2009 earnings. The company’s press release can be found here. EBITDA per ton was $31 in Q3, $74 per ton lower than the EBITDA reported Tuesday by Steel Dynamics. Nucor’s operating performance continues to be dragged down by the consumption of high-cost pig iron that was purchased last year prior to the collapse of raw material prices. According to the company’s press release, the high-cost pig iron has now been used up so Q4 should look more “normal”.
Nucor’s results have been added to the Nerds of Steel earnings spreadsheet. Those of you who watch the earnings spreadsheet carefully will also notice that we’ve now added Posco to the list of companies whose quarterly results are tracked by the Nerds.