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): April 20, 2006

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.)
2100 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:

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

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

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

¨ 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 April 20, 2006, Nucor Corporation issued a news release reporting its financial results for the fiscal quarter ended April 1, 2006. A copy of the news release is attached hereto as Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits

(c) Exhibits

99.1    News Release of Nucor Corporation, issued April 20, 2006

2

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/ Terry S. Lisenby
	Terry S. Lisenby
	Chief Financial Officer, Treasurer and Executive Vice President

Dated: April 20, 2006

3

INDEX TO EXHIBITS

Exhibit No.	Description
99.1	News Release of Nucor Corporation, issued April 20, 2006

4

EX-99.1

Exhibit 99.1

News Release            

NUCOR REPORTS RESULTS FOR FIRST QUARTER OF 2006

CHARLOTTE, NORTH CAROLINA, April 20, 2006 – Nucor Corporation (NYSE: NUE) announced today consolidated net earnings for the first quarter of 2006 of $379.2 million, an increase of 7% over the first quarter of 2005 net earnings of $354.7 million and an increase of 11% over the fourth quarter of 2005 net earnings of $341.0 million. Diluted earnings per share increased 10% to $2.42 from $2.20 in the first quarter of 2005 and increased 11% from $2.18 in the fourth quarter of 2005.

Nucor’s consolidated net sales increased 7% to $3.55 billion compared with $3.32 billion in the first quarter of 2005 and increased 11% compared with $3.21 billion in the fourth quarter of 2005. In the first quarter of 2006, average sales price per ton decreased 5% from the first quarter of 2005 and remained flat compared to the fourth quarter of 2005. Total tons shipped to outside customers increased 12% from the first quarter of 2005 and increased 10% from the fourth quarter of 2005.

The average scrap and scrap substitute cost per ton used decreased 13% from $272 in the first quarter of 2005 to $237 in the first quarter of 2006 and decreased 1% from $240 in the fourth quarter of 2005. Total energy costs increased approximately $7 per ton from the first quarter of 2005 to the first quarter of 2006 and decreased approximately $4 per ton from the fourth quarter of 2005. Nucor incurred a charge to value inventories using the last-in, first-out (LIFO) method of accounting of $9.0 million in the first quarter of 2006, compared with a credit of $26.1 million in the first quarter of 2005.

In the first quarter of 2006, Nucor established company records in its steel mills segment for steel production, total steel shipments and steel sales to outside customers. Steel production was 5,791,000 tons in the first quarter of 2006, compared with 5,108,000 tons produced in the first quarter of 2005, an increase of 13%. Total steel shipments increased 13% to 5,721,000 tons in the first quarter of 2006, compared with 5,043,000 tons in last year’s first quarter. Steel shipments to outside customers increased 12% to 5,263,000 tons in the first quarter of 2006, compared with 4,688,000 tons in the first quarter of 2005. In the steel products segment, steel joist production during the first quarter was 139,000 tons, compared with 123,000 tons in the first quarter of 2005, an increase of 13%. Steel deck sales increased 6% from 80,000 tons in the first quarter of 2005 to 85,000 tons in this year’s first quarter. Cold finished steel sales increased 8% to a record 96,000 tons, compared with 89,000 tons in the first quarter of 2005.

Starting with the May 11, 2006 dividend payment, Nucor is increasing the regular quarterly cash dividend rate from $0.15 to $0.20 per share. In addition to the $0.20 per share base dividend amount, the Board of Directors approved the payment of a supplemental dividend of $0.50 per share, for a total dividend of $0.70 per share. Nucor has increased its dividend every year since Nucor began paying dividends 33 years ago.

Nucor repurchased 100,000 shares of Nucor’s common stock at a cost of approximately $10.3 million under a publicly announced stock repurchase program during the first quarter of 2006 (none in the first quarter of 2005). Approximately 12.8 million shares remain authorized for repurchase. Since the first quarter of 2005, Nucor has repurchased approximately 5.7 million shares of Nucor’s common stock.

In March 2006, Nucor announced that it had entered into an agreement to purchase substantially all of the assets of Connecticut Steel Corporation for a cash purchase price of approximately $43.0 million, subject to post-closing adjustments. Located in Wallingford, Connecticut, this bar products mill has an annual capacity of approximately 300,000 tons of wire rod and rebar and approximately 85,000 tons of wire mesh fabrication and structural mesh fabrication. The acquisition is scheduled to be completed in early May of this year after transfer of appropriate permits and operating contracts, and other closing conditions.

Nucor expects the second quarter of 2006 to be another very strong quarter. We believe that earnings will be in the range of $2.20 to $2.40 per diluted share in the second quarter of 2006, compared with $2.03 per diluted share in the second quarter of 2005.

Page 1 of 4

Nucor Executive Offices: 2100 Rexford Road, Charlotte, North Carolina 28211

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

News Release            

NUCOR REPORTS RESULTS FOR FIRST QUARTER OF 2006 (Continued)

Nucor and affiliates are manufacturers of steel products, with operating facilities in sixteen states. Products produced are: carbon and alloy steel – in bars, beams, sheet and plate; steel joists and joist girders; steel deck; cold finished steel; steel fasteners; metal building systems; and light gauge steel framing. Nucor is the nation’s largest recycler.

Certain statements contained in this news release are “forward-looking statements” that involve risks and uncertainties. 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 pressure 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, 2005 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 first quarter results on April 20, 2006 at 2:00 pm eastern time. The conference call will be available over the Internet at www.nucor.com, under Investor Relations.

Unaudited figures are as follows:

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (Unaudited)

(In thousands, except per share data)

	Three Months (13 Weeks) Ended
	April 1, 2006			April 2, 2005
NET SALES	$	3,545,097		$	3,322,621
COSTS, EXPENSES AND OTHER:
Cost of products sold		2,768,142			2,620,628
Marketing, administrative and other expenses		154,100			125,429
Interest (income) expense, net		(5,732	)		4,133
Minority interests		40,326			31,165
Other income		—			(9,200	)
		2,956,836			2,772,155
EARNINGS BEFORE INCOME TAXES		588,261			550,466
Provision for income taxes		209,100			195,800
NET EARNINGS	$	379,161		$	354,666
NET EARNINGS PER SHARE:
Basic	$	2.44		$	2.22
Diluted	$	2.42		$	2.20
AVERAGE SHARES OUTSTANDING:
Basic		155,313			159,708
Diluted		156,874			161,246

Page 2 of 4

Nucor Executive Offices: 2100 Rexford Road, Charlotte, North Carolina 28211

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

News Release            

NUCOR REPORTS RESULTS FOR FIRST QUARTER OF 2006 (Continued)

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

(In thousands)

	April 1, 2006			Dec. 31, 2005
Assets
CURRENT ASSETS:
Cash and cash equivalents	$	1,127,978		$	980,150
Short-term investments		1,077,023			857,360
Accounts receivable, net		1,068,752			1,000,629
Inventories		941,223			945,054
Other current assets		247,139			288,360
Total current assets		4,462,115			4,071,553
PROPERTY, PLANT AND EQUIPMENT, NET		2,829,925			2,855,717
OTHER ASSETS		212,106			211,517
TOTAL ASSETS	$	7,504,146		$	7,138,787
Liabilities and stockholders’ equity
CURRENT LIABILITIES:
Long-term debt due within one year	$	1,250		$	1,250
Accounts payable		592,373			501,624
Federal income taxes payable		155,123			-
Salaries, wages and related accruals		218,436			368,568
Accrued expenses and other current liabilities		405,147			384,257
Total current liabilities		1,372,329			1,255,699
LONG-TERM DEBT DUE AFTER ONE YEAR		922,300			922,300
DEFERRED CREDITS AND OTHER LIABILITIES		460,368			486,910
MINORITY INTERESTS		184,270			194,090
STOCKHOLDERS’ EQUITY:
Common stock		74,337			74,120
Additional paid-in capital		232,698			191,850
Retained earnings		4,979,167			4,709,111
Unearned compensation		(7,668	)		(3,287	)
Accumulated other comprehensive income, net of income taxes		29,222			46,600
		5,307,756			5,018,394
Treasury stock		(742,877	)		(738,606	)
Total stockholders’ equity		4,564,879			4,279,788
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	7,504,146		$	7,138,787

Page 3 of 4

Nucor Executive Offices: 2100 Rexford Road, Charlotte, North Carolina 28211

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

News Release            

NUCOR REPORTS RESULTS FOR FIRST QUARTER OF 2006 (Continued)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

(In thousands)

	Three Months (13 Weeks) Ended
	April 1, 2006			April 2, 2005
Operating activities:
Net earnings	$	379,161		$	354,666
Adjustments:
Depreciation		90,825			91,290
Deferred income taxes		(18,800	)		(16,200	)
Minority interests		40,322			31,161
Stock option expense		2,546			—
Settlement of natural gas hedges		(4,931	)		—
Changes in (exclusive of acquisition):
Current assets		(78,984	)		2,802
Current liabilities		163,669			137,066
Other		(6,417	)		(12,847	)
Cash provided by operating activities		567,391			587,938
Investing activities:
Capital expenditures		(69,871	)		(71,259	)
Investment in affiliates		(14,704	)		(8,176	)
Disposition of plant and equipment		1,439			294
Acquisition (net of cash acquired)		—			(44,136	)
Purchases of short-term investments		(220,308	)		—
Proceeds from sales of short-term investments		645			—
Cash used in investing activities		(302,799	)		(123,277	)
Financing activities:
Issuance of common stock		38,011			25,262
Tax benefit from stock options exercised		6,500			-
Distributions to minority interests		(50,142	)		(2,181	)
Cash dividends		(100,870	)		(64,080	)
Acquisition of treasury stock		(10,263	)		-
Cash used in financing activities		(116,764	)		(40,999	)
Increase in cash and cash equivalents		147,828			423,662
Cash and cash equivalents - beginning of year		980,150			779,049
Cash and cash equivalents - end of three months	$	1,127,978		$	1,202,711

Page 4 of 4

Nucor Executive Offices: 2100 Rexford Road, Charlotte, North Carolina 28211

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