Nucor Corp., a Charlotte-based steel company, announced better-than-expected earnings for the first quarter of 2019 that it attributed to strong sales.

Net earnings for the quarter were $501.8 million, or $1.63 per share. For the same quarter of 2018 were net earnings were 29 percent lower at $354.2 million, or $1.10 per share.

Analysts predicted earnings of $1.50 per share for the quarter. Adjusted, Nucor’s earnings were $1.55 per share.

Net sales for the first quarter were $6.1 billion, which beat analysts’ predictions of $6.03 billion. Net sales for the same quarter in 2018 were $5.7 billion.

CEO John Ferriola said, “Our plate, bar, and structural mills were strong contributors in the first quarter, and several of our downstream businesses also increased earnings as compared to the year ago period.”

Last month, Nucor announced plans to build a new steel plate mill in Kentucky that will employ approximately 400 people. It is expected to be fully operational in 2022.

Ferriola said Nucor is working on expanding its online channels to “drive incremental earnings growth and margin expansion.”

“Our diversified business model helped us to once again deliver a significant year-over-year improvement in first quarter earnings,” said Ferriola.

The filing can be found here.

Nucor’s shares rose $1.67, or 2.9 percent, to $58.65 in Tuesday afternoon trading.