Nucor Corporation (NUE) has reported 307.58 percent jump in profit for the quarter ended Apr. 01, 2017. The company has earned $356.90 million, or $1.11 a share in the quarter, compared with $87.56 million, or $0.27 a share for the same period last year.
Revenue during the quarter grew 29.59 percent to $4,815.18 million from $3,715.58 million in the previous year period. Gross margin for the quarter expanded 731 basis points over the previous year period to 15.79 percent. Total expenses were 87.88 percent of quarterly revenues, down from 94.48 percent for the same period last year. This has led to an improvement of 660 basis points in operating margin to 12.12 percent.
Operating income for the quarter was $583.82 million, compared with $205.24 million in the previous year period.
Operating cash flow drops significantlyNucor Corporation has generated cash of $237.24 million from operating activities during the quarter, down 56.93 percent or $ 313.61 million, when compared with the last year period. The company has spent $477.83 million cash to meet investing activities during the quarter as against cash outgo of $32.08 million in the last year period. It has incurred capital expenditure of $85.66 million on net basis during the quarter, up 13.63 percent or $10.28 million from year ago period.
The company has spent $147.10 million cash to carry out financing activities during the quarter as against cash outgo of $190.06 million in the last year period.
Cash and cash equivalents stood at stood at $1,657.76 million as at Apr. 01, 2017.
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