Nucor News

Nucor Corp. has weathered 19 months of the worst recession since the Great Depression without laying off any employees.

Chief executive Dan DiMicco cites that statistic with pride, while recognizing the recession has meant Nucor workers have seen their hours —and their pay — cut severely. “I realize this is a time of hardship and difficulty for all the 21,000 men and women of Nucor,” he said in a conference call with analysts last week.

But he also warns that his Charlotte-based company sees no sign yet of an improvement in the economy or in the steel markets Nucor serves.

Nucor last reported a loss of $133.3 million, or 43 cents per diluted share, for the second quarter. That was better than anticipated and an improvement over the first quarter when Nucor lost $190 million or 60 cents a share. And DiMicco sees a good chance that earnings will be better again in the third quarter.