Sales for Steel, including inter-segment sales, were $354.1 million in the second quarter, a decrease of 29 percent from $499.8 million for the same period last year. The results reflect reduced shipments to the industrial and oil and gas market sectors, partially offset by improved sales to the mobile on-highway sector. Raw-material surcharges decreased $49 million from the second quarter last year.
Second-quarter EBIT was $42.3 million, or 11.9 percent of sales, down 52 percent from $88.9 million, or 17.8 percent of sales, for the same period a year ago. The decline in EBIT was primarily due to lower volume and unfavorable sales mix.
For the first half of 2013, Steel sales were $700.2 million, a 32 percent decrease compared with the same period a year ago. First-half 2013 EBIT was $78.1 million, or 11.2 percent of sales, down from $176.9 million, or 17.1 percent of sales, in the prior-year period.
