For the first quarter, Nucor (NYSE:NUE) net sales came in at $4.55 billion, or more than $500 million lower than the $5.07 billion the company posted in Q1 2012, the company reported Thursday.
Attributable net profit dropped more steeply, declining 42% on a year-over-year basis to $84.8 million ($0.26 per diluted share) from the $145.1 million ($0.46) in the same quarter of 2012.
In spite of the bottom-line drop, the EPS number slightly exceeded the company's previous guidance of $0.20-$0.25.
In terms of operations, Nucor's mill production dropped over the one-year time frame. Q1 2013 saw the company produce 4.8 million tons, an 8% slide from the matching period of 2012. Sales in terms of volume totaled 5.7 million tons, which was 4% lower than Q1 2012's tally.
Fool contributor Eric Volkman has no position in Nucor. The Motley Fool recommends Nucor. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.