8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):          July 22, 2010           

NUCOR CORPORATION

(Exact name of registrant as specified in its charter)

Delaware

 (State or other jurisdiction of incorporation)

1-4119	13-1860817
(Commission File Number)	(IRS Employer Identification No.)

1915 Rexford Road, Charlotte, North Carolina	28211
(Address of principal executive offices)	(Zip Code)

Registrant's telephone number, including area code:  (704) 366-7000

N/A

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02 Results of Operations and Financial Condition

On July 22, 2010, Nucor Corporation issued a news release reporting its financial results for the fiscal quarter ended July 3, 2010.  A copy of the news release is furnished as Exhibit 99.1 and incorporated herein by reference.

The information contained in this Current Report on Form 8-K, including the exhibit attached hereto, is being furnished and shall not be deemed to be “filed” for the purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section.  Furthermore, the information contained in this Current Report on Form 8-K shall not be deemed to be incorporated by reference into any registration statement or other document filed pursuant to the Securities Act of 1933, as amended.

Item 9.01 Financial Statements and Exhibits

(d)           Exhibits

99.1           News Release of Nucor Corporation, issued July 22, 2010

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

NUCOR CORPORATION
By:	/s/ James D. Frias
	James D. Frias
	Chief Financial Officer, Treasurer and Executive Vice President

Dated:  July 22, 2010

2

INDEX TO EXHIBITS

Exhibit No.	Description
99.1	News Release of Nucor Corporation, issued July 22, 2010

3

EX-99.1

News Release

NUCOR REPORTS RESULTS FOR SECOND QUARTER AND FIRST HALF OF 2010

CHARLOTTE, NORTH CAROLINA, July 22, 2010 -- Nucor Corporation (NYSE: NUE) announced today consolidated net earnings of $91.0 million, or $0.29 per diluted share, for the second quarter of 2010. By comparison, Nucor reported net earnings of $31.0 million, or $0.10 per diluted share, in the first quarter of 2010 and a net loss of $133.3 million, or $0.43 per diluted share, in the second quarter of 2009.

In the first half of 2010, Nucor reported consolidated net earnings of $122.0 million, or $0.38 per diluted share, compared with a net loss of $323.0 million, or $1.03 per diluted share, in the first half of last year.

In the second quarter of 2010, Nucor's consolidated net sales increased 15% to $4.20 billion compared with $3.65 billion in the first quarter of 2010 and increased 69% compared with $2.48 billion in the second quarter of 2009. Average sales price per ton increased 14% from the first quarter of 2010 and increased 25% from the second quarter of 2009. Total tons shipped to outside customers were 5,555,000 tons in the second quarter of 2010, an increase of 1% over the first quarter of 2010 and an increase of 35% over the second quarter of 2009.  Total second quarter steel mill shipments increased 53% over 2009’s second quarter and were down 2% from the first quarter of 2010.  Second quarter downstream steel products shipments to outside customers increased 19% over the second quarter of 2009 and 25% over the first quarter of 2010.

In the first half of 2010, Nucor's consolidated net sales increased 53% to $7.85 billion, compared with $5.13 billion in last year's first half. Average sales price per ton increased 8% while total tons shipped to outside customers increased 41% over the first half of 2009.

The average scrap and scrap substitute cost per ton used in the second quarter of 2010 was $373, an increase of 17% compared with $318 in the first quarter of 2010 and an increase of 20% over $312 in the second quarter of 2009. The average scrap and scrap substitute cost per ton used in the first half of 2010 was $345, an increase of 7% over $322 in the first half of 2009.

Nucor recorded a charge to value inventories using the last-in, first-out (LIFO) method of accounting of $67.0 million in the second quarter of 2010, compared with a charge of $24.0 million in the first quarter of 2010 and a credit of $125.0 million in the second quarter of 2009.  The LIFO charge in the first half of 2010 was $91.0 million, compared with a credit of $230.0 million in the first half of 2009.  The second quarter LIFO charge was higher than anticipated at the time we gave both our qualitative and quantitative guidance due to increasing scrap prices.

Overall operating rates at our steel mills in the second quarter (71%) were down slightly from the first quarter (73%), with some improvements at the beam and plate mills offset by declines at the sheet mills.  Steel mill utilization significantly increased from 46% in last year's second quarter, and increased from 46% in the first half of 2009 to 72% in the first half of 2010.

Total energy costs decreased approximately $2 per ton from the first quarter of 2010 primarily due to decreased energy costs driven by lower natural gas prices. Total energy costs decreased approximately $8 per ton from the second quarter of 2009 to the second quarter of 2010 and decreased $9 per ton from the first half of 2009 to the first half of 2010 mainly as a result of increased production.

Page 1 of 6

Nucor Executive Offices:    1915 Rexford Road,  Charlotte, North Carolina   28211

Phone 704-366-7000    Fax 704-362-4208    www.nucor.com

News Release

NUCOR REPORTS RESULTS FOR SECOND QUARTER AND FIRST HALF OF 2010 (Continued)

Pre-operating and start-up costs of new facilities were $43.4 million in the second quarter of 2010 compared to $50.5 million in the first quarter of 2010 and $31.6 million in the second quarter of 2009. For the six-month period, pre-operating and start-up costs increased from $64.8 million in 2009 to $93.9 million in 2010. In 2010, these costs primarily related to the SBQ mill in Memphis, Tennessee, and the galvanizing line in Decatur, Alabama.

Our liquidity position remains strong with $1.14 billion in cash and cash equivalents and short-term investments and an untapped $1.3 billion revolving credit facility that matures in November 2012.

In April, Nucor acquired a 50% interest in NuMit LLC, which invests in various steel and steel related activities, both in North America and globally.  As part of the agreement, Mitsui and Co. (U.S.A.), Inc., a wholly owned subsidiary of Mitsui and Co., Ltd., contributed 100% of Steel Technologies Inc.  Steel Technologies operates 23 sheet steel processing facilities throughout the U.S., Canada and Mexico.  The purchase price of Nucor’s 50% interest was approximately $221.3 million and did not result in a significant amount of goodwill.  At closing, Nucor extended a $40.0 million loan and a $60.0 million line of credit (of which $54.0 million was drawn down immediately) to Steel Technologies.

In May, Nucor's board of directors declared a cash dividend of $0.36 per share payable on August 11, 2010 to stockholders of record on June 30, 2010.  This dividend is Nucor's 149th consecutive quarterly cash dividend, a record we expect to continue.

Operating results excluding LIFO improved significantly over the first quarter, primarily due to increased margins; however, the continuation of the upward trend experienced through the first half of the year is by no means clear at present.  There is a general slowdown taking place across all product lines as the overall economy has entered into a new period of uncertainty.  This is the case both in the U.S. and globally.  The most challenging markets for our products continue to be those associated with residential and non-residential construction, which continue to show little, if any, strength.  This is particularly true for our downstream businesses.  We will provide additional and more quantitative earnings guidance after the midpoint between our quarterly earnings releases.

Nucor and affiliates are manufacturers of steel products, with operating facilities primarily in the U.S. and Canada. Products produced include: carbon and alloy steel -- in bars, beams, sheet and plate; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; steel fasteners; metal building systems; light gauge steel framing; steel grating and expanded metal; and wire and wire mesh. Nucor, through The David J. Joseph Company, also brokers ferrous and nonferrous metals, pig iron and HBI/DRI; supplies ferro-alloys; and processes ferrous and nonferrous scrap. Nucor is North America's largest recycler.

Page 2 of 6

Nucor Executive Offices:    1915 Rexford Road,  Charlotte, North Carolina   28211

Phone 704-366-7000    Fax 704-362-4208    www.nucor.com

News Release

NUCOR REPORTS RESULTS FOR SECOND QUARTER AND FIRST HALF OF 2010 (Continued)

Certain statements contained in this news release are “forward-looking statements” that involve risks and uncertainties.  The words “believe,” “expect,” “project,” “will,” “should” and similar expressions are intended to identify those forward-looking statements.  Factors that might cause the Company’s actual results to differ materially from those anticipated in forward-looking statements include, but are not limited to: (1) the sensitivity of the results of our operations to prevailing steel prices and the changes in the supply and cost of raw materials, including scrap steel; (2) market demand for steel products; (3) energy costs and availability; (4) competitive pressure on sales and pricing, including competition from imports and substitute materials; and (5) capital investments and their impact on our performance.  These and other factors are outlined in Nucor’s regulatory filings with the Securities and Exchange Commission, including those in Nucor’s December 31, 2009 Annual Report on Form 10-K.  The forward-looking statements contained in this news release speak only as of this date, and Nucor does not assume any obligation to update them.

You are invited to listen to the live broadcast of Nucor's conference call in which management will discuss Nucor's second quarter results on July 22, 2010 at 2:00 p.m. eastern time. The conference call will be available over the Internet at www.nucor.com, under Investor Relations.

TONNAGE DATA

(in thousands)

	Three Months (13 Weeks) Ended							Six Months (26 Weeks) Ended
	July 3, 2010		July 4, 2009		Percentage Change			July 3, 2010		July 4, 2009		Percentage Change
Steel mills production		4,648		2,964		57	%		9,360		5,843		60	%
Steel mills total shipments		4,597		2,999		53	%		9,303		5,807		60	%
Sales tons to outside customers:
Steel mills		3,922		2,569		53	%		7,988		5,002		60	%
Joist		72		65		11	%		131		125		5	%
Deck		81		73		11	%		149		148		1	%
Cold finished		117		76		54	%		228		156		46	%
Fabricated concrete
reinforcing steel		266		255		4	%		460		463		-1	%
Other		1,097		1,078		2	%		2,096		1,930		9	%
		5,555		4,116		35	%		11,052		7,824		41	%

Page 3 of 6

Nucor Executive Offices:    1915 Rexford Road,  Charlotte, North Carolina   28211

Phone 704-366-7000    Fax 704-362-4208    www.nucor.com

  News Release

NUCOR REPORTS RESULTS FOR SECOND QUARTER AND FIRST HALF OF 2010

(Continued)

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (Unaudited)

(In thousands, except per share data)

	Three Months (13 Weeks) Ended					Six Months (26 Weeks) Ended
	July 3, 2010		July 4, 2009			July 3, 2010		July 4, 2009
Net sales	$	4,195,966	$	2,478,028		$	7,850,808	$	5,132,347
Costs, expenses and other:
Cost of products sold		3,887,929		2,539,904			7,329,976		5,318,228
Marketing, administrative and other expenses		107,770		85,124			200,364		172,503
Equity in losses of unconsolidated affiliates		7,372		21,801			25,749		59,798
Interest expense, net		37,322		31,957			75,110		64,322
		4,040,393		2,678,786			7,631,199		5,614,851
Earnings (loss) before income taxes and
noncontrolling interests		155,573		(200,758	)		219,609		(482,504	)
Provision for (benefit from) income taxes		49,355		(72,989	)		72,197		(164,210	)
Net earnings (loss)		106,218		(127,769	)		147,412		(318,294	)
Earnings attributable to
noncontrolling interests		15,226		5,568			25,456		4,688
Net earnings (loss) attributable to
Nucor stockholders	$	90,992	$	(133,337	)	$	121,956	$	(322,982	)
Net earnings (loss) per share:
Basic	$	0.29	$	(0.43	)	$	0.38	$	(1.03	)
Diluted	$	0.29	$	(0.43	)	$	0.38	$	(1.03	)
Average shares outstanding:
Basic		315,849		314,752			315,653		314,532
Diluted		316,472		314,752			316,349		314,532

Page 4 of 6 

Nucor Executive Offices:    1915 Rexford Road,  Charlotte, North Carolina   28211

Phone 704-366-7000    Fax 704-362-4208    www.nucor.com

News Release

NUCOR REPORTS RESULTS FOR SECOND QUARTER AND FIRST HALF OF 2010

(Continued)

 CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

 (In thousands)

	July 3, 2010			Dec. 31, 2009
ASSETS
Current assets:
Cash and cash equivalents	$	801,504		$	2,016,981
Short-term investments		340,495			225,000
Accounts receivable, net		1,420,731			1,116,035
Inventories, net		1,951,732			1,312,903
Other current assets		672,471			511,329
Total current assets		5,186,933			5,182,248
Property, plant and equipment, net		3,903,903			4,013,836
Goodwill		1,828,058			1,803,021
Other intangible assets, net		886,164			902,922
Other assets		883,122			669,877
Total assets	$	12,688,180		$	12,571,904
LIABILITIES
Current liabilities:
Short-term debt	$	2,599		$	1,748
Long-term debt due within one year		-			6,000
Accounts payable		887,086			707,038
Salaries, wages and related accruals		222,904			154,997
Accrued expenses and other current liabilities		399,368			357,274
Total current liabilities		1,511,957			1,227,057
Long-term debt due after one year		3,080,200			3,080,200
Deferred credits and other liabilities		640,916			680,358
Total liabilities		5,233,073			4,987,615
EQUITY
Nucor stockholders' equity:
Common stock		150,094			149,877
Additional paid-in capital		1,691,303			1,675,777
Retained earnings		7,013,528			7,120,218
Accumulated other comprehensive loss,
net of income taxes		(98,346	)		(41,056	)
Treasury stock		(1,510,186	)		(1,514,290	)
Total Nucor stockholders' equity		7,246,393			7,390,526
Noncontrolling interests		208,714			193,763
Total equity		7,455,107			7,584,289
Total liabilities and equity	$	12,688,180		$	12,571,904

Page 5 of 6

Nucor Executive Offices:    1915 Rexford Road,  Charlotte, North Carolina   28211

Phone 704-366-7000    Fax 704-362-4208    www.nucor.com

News Release

NUCOR REPORTS RESULTS FOR SECOND QUARTER AND FIRST HALF OF 2010

(Continued)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
(In thousands)
	Six Months (26 Weeks) Ended
	July 3, 2010			July 4, 2009
Operating activities:
Net earnings (loss)	$	147,412		$	(318,294	)
Adjustments:
Depreciation		255,262			242,475
Amortization		35,855			36,001
Stock-based compensation		25,246			31,660
Deferred income taxes		4,178			(31,659	)
Equity in losses of unconsolidated affiliates		25,749			59,798
Changes in assets and liabilities (exclusive of acquisitions):
Accounts receivable		(290,542	)		278,055
Inventories		(628,941	)		1,147,421
Accounts payable		178,286			(121,847	)
Federal income taxes		(19,886	)		(285,735	)
Salaries, wages and related accruals		72,791			(392,276	)
Other		(99,169	)		(12,647	)
Cash provided by (used in) operating activities		(293,759	)		632,952
Investing activities:
Capital expenditures		(163,219	)		(240,428	)
Investment in and advances to affiliates		(402,391	)		(57,904	)
Repayment of advances to affiliates		48,885			-
Disposition of plant and equipment		15,522			8,610
Acquisitions (net of cash acquired)		(63,722	)		(24,714	)
Purchases of investments		(240,495	)		(136,389	)
Proceeds from the sale of investments		125,000			-
Cash used in investing activities		(680,420	)		(450,825	)
Financing activities:
Net change in short-term debt		852			(2,694	)
Repayment of long-term debt		(6,000	)		(175,000	)
Issuance of common stock		1,777			1,518
Excess tax benefits from stock-based compensation		(2,200	)		(700	)
Distributions to noncontrolling interests		(10,511	)		(83,223	)
Cash dividends		(228,465	)		(221,127	)
Cash used in financing activities		(244,547	)		(481,226	)
Effect of exchange rate changes on cash		3,249			4,172
Decrease in cash and cash equivalents		(1,215,477	)		(294,927	)
Cash and cash equivalents - beginning of year		2,016,981			2,355,130
Cash and cash equivalents - end of six months (1)	$	801,504		$	2,060,203
(1)  Cash and cash equivalents balance at April 3, 2010 was $1,659,589.

Page 6 of 6

Nucor Executive Offices:    1915 Rexford Road,  Charlotte, North Carolina   28211

Phone 704-366-7000    Fax 704-362-4208    www.nucor.com