The company has operating facilities, primarily in the United States and Canada. I don't know that I would add a lot more than what we talked about as a consistent drumbeat around demand. We are very proud of Nucor's help make the United States the cleanest place in the world to make steel. And we will see how that moves there over the next 8, 10, 12 and in 24 months in terms of the amount of steel that Nucor participates in and how fast we escalate that, but we kind of control that. The Nucor stock prediction results are shown below and presented as a graph, table and text information. WebInsane money for profit sharing in excellent years. So, overall, we think about end-use demand for steel will be up in '22 over '21 and there are some important pieces that are not benefiting us in the first quarter of this year that are still coming sets the starting point. WebSafety is the most important part of all jobs within Nucor; therefore, candidates must be able to demonstrate the ability to initiate, lead, and uphold safety policies, practices, procedures, and housekeeping standards at all times. These investments meaningfully enhance Nucor sheet product capabilities. The reason for that is: 1. In that, as we reinvest in our infrastructure, we do so with steel produced in America the highest quality cleanest deal possible. I will also comment on Hannibal and the racking that leadership team and that includes the existing there and the ones we have added from Nucor. That's 18% to 22%. How much money do Nucor employees make? We published our net debt to capital range that we want to live in to maintain our strong investment grade credit rating. CSI is a flat rolled converter with annual capacity to produce more than 2 million tons of finished steel and steel products. Raw materials will be down year-over-year and that's because in 2021 when raw material prices were rising, we had inventory in the supply chain when we captured value hence we made money in DRI, because of low iron ore prices that we had on the ground and in our contracts, we made money in scrap, because we had scrap in our scrap yards that was being priced higher every month and every quarter prices were rising. We are not seeing the benefits from the infrastructure believe that's still coming. Yeah, good morning, everyone. We are seeing many of our construction, many of our OEM partners outside of automotive that are beginning to ask for this. It's not about adding capacity. Web16 Nucor reviews. So the things from great extra some of those things, but we are -- discussed with our customers, but at the same time, you got to look at the total package, if you will of what they see is value. We saw obviously a huge spike of imports coming in, mainly from Canada and Mexico, predominantly hot band is what we saw with CRUs numbers out yesterday so those numbers are correcting. So those would be our thoughts about how to think about the whole year from a big picture perspective. (RTTNews) - Nucor Corp. (NUE) reported earnings for its fourth quarter that increased from last year and beat the Street estimates. [Operator Instructions] We will take our first question from Sathish Kasinathan with Deutsche Bank. So that's going to be significant benefit to our earnings results for the year. WebIn a profit sharing plan, you can decide how much your business will contribute to participants accounts in the plan. The share repurchases totaled more than 33.8 million shares at an average cost of about $97 per share. Compare NUE With Other Stocks From: To: Zoom: 10 20 30 40 TTM Revenue -5 0 5 TTM Net Income On the plate market, obviously plate prices have been remarkably resilient last couple of weeks, even a sheet has followed accelerating rate, can you just give us a bit of color on what you are seeing specifically supporting the plate market today, what's unique in that supply demand balance, how sustainable is that. Of course, we are also mindful of our responsibility to shareholders. 2021 capital returns consisted of dividends of $483 million and share repurchases of just under $3.3 billion. WebDistributions. For Gallatin, and Rex you can add to this if you would like to. We are very, very excited. So in March we will commission the EAF, LMF and the caster and by the end of March we will be capable of full production at that point with a wider strip and a thicker slab, but we are going to keep an eye on the market and will really measure that ramp up as we see what market conditions are doing at Gallatin. And our next question comes from Michael Glick with JPMorgan. Profit Sharing: Fourth quarter earnings also exceeded our guidance range of $7.65 to $7.75 per diluted share. Number one to begin with, as we mentioned in Jim's comments that we do expect primarily because of sheet pricing our steel mills segment to be a little off in terms of profitability. And again just why IMP. 06/15/1995. We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. The cumulative EBITDA generated by the Hickman specialty cold mill is nearing that project's capital investment. Distributions are taxed at a taxpayer's ordinary income rate. 65 Day Avg Vol 1,846,352. $0.07. Certain statements made during this conference call will be forward-looking statements that involve risks and uncertainties. Stock Bonus. So, it's more than just what those pieces are, its price, it's delivery, and service. Hey, great. If you look at our industry over the last 12, 18 to 24 months, there has been significant shifts in consolidation, rationalization and trade. We have much to look forward to as we progressed throughout this new year. We think about what's happening, and warehousing, data storage cold storage. View Russia Ignites West's Battle for Energy Independence, View 3 Midcap Energy Stocks Set For Triple-Digit Earnings Growth, View Want Monthly Income? Nucor will continue to be a key part of our modern economy by supplying the most advance and sustainable steel products needed to rebuild Americas infrastructure. We hired a -- our shift to the general manager, existing general manager Nucor over that business, but we are really pulling that group in to get them to understand Nucor integrate and look at our production bonus system and how we incorporate that, but it's very much step in learn as much about their business as well. We reduced our share count by more than 11% in 2021 even as we funded capital expenditures and acquisitions totaling approximately $3 billion to drive the next chapter of our growth story. As of 2022, the contribution limit for a company sharing its profits may not exceed the lesser of 100% of your compensation or $61,000. (844) 978-6257. And so from a Nucor perspective, I would tell you not at all. 401 (k) Plan. We currently expect capital expenditures over the next 3 years to total approximately $5.5 billion. We value our teammates and offer benefits packages that also include paid time off, parental leave, profit sharing, To our customers, thank you for the trust and the partnership as we continue to build the capabilities required to differentiate Nucor as the supplier of choice. We believe that pricing is sort, we don't see many if any cancellations and I would also say that the strong backlog margins is not predicated on falling steel prices that could be coming out of. Thank you. So it's not just the major OEMs in automotive now that are asking for. Make no mistake. Good afternoon. Charlotte, North Carolina-based Nucor Corp. has reported net earnings of $2.36 billion for its fiscal year 2018, which coincides with the calendar year. Putin's invasion of Ukraine has revealed the West's dependence on Russia for their energy needs. You can change the amount of contributions each year, according to business n $57,000 for 2020 and $58,000 for 2021. This investment, which is expected to close shortly, expands our geographic reach in the sheet market, grows our portfolio of value-added sheet products, and enables us to supply Nucor's downstream businesses in the region, including Verco and the recently acquired Hannibal Industries. So as we look and analyze that demand from this broad non-res construction base, we are very excited about what 2022 holds. That makes sense. Another sheet mill project Nucor Steel Gallatin top end modernization and expansion is beginning to start up in the current quarter. Our Gallatin team members continue to impress with their ability to safely construct the expansion project within the environment of an operating mill and we look forward to its continued ramp up. These include the Kentucky plate mill, the West Virginia sheet mill, the South Atlantic rebar micro mill, and Gallatin's tubular products facility. Full -- there is additional work to be done, which is part of the plan. Medical and dental are just the beginning. Along the way, we are delivering a differentiated value proposition to our customers and expanding our relationships with them. Thanks for taking the question. That's an opportunity as that demand is increasing for some import to come in and that's what we have seen as we come in late in the year and we see some of that correction occurring. The final market I would highlight would be energy, broadly energy, which includes renewables as well as oil and gas. An Overview of Blue Chips. So we expect to keep doing things to try and deal with that. More and more companies as you guys know developers and owners, see the value and are focusing on the E in ESG and we have also watch the growth of IMP in Europe and we believe the U.S. market while currently about a $1 billion market for IMP, we believe that could grow in excess of $2 billion, so still on-boarding, still integrating, there are a few challenges to work through, but excited about the future. We are confident that 2022 will be another year of strong profitability for Nucor, fueled by continued strong end-use market demand for our wide range of steel and steel products, better margins in our steel product segment as pricing is now caught up with higher steel input costs and lower intercompany inventory revaluation expenses, reflecting flatter steel and raw material cost compared to 2021. 06/30/1995. Also, most of its operating facilities and customers are located in North America. So the raw material segments will be a small tailwind, a strong headwind, excuse me, and depreciation and amortization is going to be higher. But that's the reasons why we are being impacted where we are is our reliance on the hot band market. If you are a stockholder of record (i.e., your shares are registered in That team has been in construction mode for quite some time now. Regarding the visibility we have good visibility. Given the state of our balance sheet, near-term investment plans and our expectations for earnings, we anticipate that we will continue returning excess capital to our shareholders during the first quarter of 2022, very likely via continued share repurchases. That value will continue to increase. So we are able to ramp that up as we see fit. So that team is working feverishly to bring its capability to where we need. Like Nucor This will be Nucor's third rebar micro mill joining micro mills in Missouri and Florida that begin operations in 2020. For all of 2021, Nucor reported net earnings of $6.83 billion, or $23.16 per diluted share, on $25.5 billion in sales. You mentioned that you expect earnings to decline due to the lower flat roll margins, but was just wondering if you could talk about the order entry rate in January and how you see the volumes for the first quarter. Our cash, short-term investments and restricted cash holdings totaled about $2.8 billion at year-end. Thanks, Leon. We will take our next question from Seth Rosenfeld with BNP Paribas Exane. Yeah, thanks, Emily. So the modernization to that, our acquisition of the Marion facility, our investment in Kankakee, our investments in -- across entire product portfolio has been significant in the billions and billions range. I would tell you that that value increases as we move forward, because many of our end customers cannot achieve their end stated goals of their carbon footprint reduction targets without an incoming steel that is significantly lower than most of the world average is. While 2021 clearly revealed the earnings and cash generation power of Nucor's businesses, it also provided an opportunity for us to fully demonstrate Nucor's balanced capital allocation framework. And so what I would tell you in a year that was way off because of the chip shortages in 2021 somewhere in that 12.5 million, 13 million units Nucor share in automotive grew and that is going to continue to grow. contact@marketbeat.com Better than expected results for the month of December were achieved across a broad group of businesses. Match could be better than it is. In November, we increased the capacity by $250 million and extended the maturity date to November of 2026. This project gives Gallatin's new mill thicker slab casting and wider coil capabilities, expanding our product portfolio into markets currently served by higher cost competitors. If you use our datasets on your site or blog, we ask that you provide attribution via a "dofollow" link back to this page. And again we expect Gallatin to continue to ramp up and made its objectives and hit the nameplate investment, which is about 1.4 million tons of additional capacity. They are tasked with growing that business. And then on the pricing side, obviously, demand perhaps growing very rapidly right now, supply is very tight, what's the degree of pricing power are you able to achieve compared to any cost escalation perhaps as you just raw materials mix for power supply? We have finished the year close to $800. We have got two virtual power purchase agreements today that because of our balance sheet allow us to be able to do those things. The only thing Leon that regarding growth is we are likely to have another nice next weekend on a growth initiative that's in the pipeline that's again to add capabilities around our product mix. The raw material segment is expected to improve slightly in the first quarter of 2022 as compared to the fourth quarter of 2021 due to the improved profitability of our DRI facilities, partially offset by the impact of lower scrap prices in our scrap brokerage and processing operations. Thank you. Nucor Corp.s record 2022 earnings means the Charlotte-based steel company will hit another milestone almost $1 billion in profit sharing for the nearly 31,000 people who work for the company. We have got one in Mexico now that's consuming substrate, part of the subsidy comes out of our Berkeley mill and we are getting ready announced another galv line soon. And then couple that with the supply chain constraints, labor constraints and the omicron variant raging, all created for a little bit of a perfect storm here in the fourth quarter heading into early part of 2022. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. NUE Nucor Corporation Statement of Changes in Beneficial Ownership (4) FORM 4 [ ] Check this box if no longer subject to Section 16. 92% And so I am not going to detail out what the value is. And then finally, intercompany eliminations, last year our intercompany eliminations expense to revalue inventory to the cost of manufacture totaled about $776 million and it's going to be a much smaller number next year. When we look at inventory receivables and payables net, they are not going to use that much cash to share that could be small benefit. Good afternoon, and welcome to our 2021 fourth quarter and full year's earnings call. View which stocks are hot on social media with MarketBeat's trending stocks report. Another key market would be heavy equipment, industrial equipment that market is very strong right now. Once operational our West Virginia mill will have some of the most advanced capabilities and one of the lowest carbon footprints of any sheet mill in the world. I think there's three things of Nucor's touched on over really the last year. Reflecting this for 2021, our profit sharing totaled about $850 million. That easily beat 2020s $721.5 million in net I will finish up on the Hickman galv line. Identify stocks that meet your criteria using seven unique stock screeners. Coming off a historic year like we had in '21. There is a very disciplined process. And so what we would be looking for, we are going to look at for that demand. What benefits are offered to employees? And then my second question will also be just kind of bigger picture, the focus on potential capacity curtailments has been on the blast furnace side, but I presume technology today on the flat [Technical Issues] side has improved pretty considerably since the late 1980s. Our Econiq offering represents the world's first ever net zero carbon steel available at scale. I hope you will agree that this is an impressive track record. March 1, 2023 We are going to have a very measured approach and a very deliberate approach into the marketplace. We are leveraging our competitive advantage to aggressively and opportunistically pursue value enhancing long-term growth. Although Nucor believes they are based on reasonable assumptions, there can be no assurance that future events will not affect their accuracy. Real-time analyst ratings, insider transactions, earnings data, and more. We are below that right now. Put the employee bonus plan in writing. Base the bonus on results that are measurable or quantifiable. Give incentives to employees to meet goals. Be clear on the WHAT, the WHY, and the HOW. Make sure everybody gets something. Make the financial reward a strong enough incentive. And in particular, if we think about our sheet group and their performance, the sheet group set a record in terms of shipments at over 11 million tons, generated over $6 billion in EBITDA performance. Well, working capital used $3.3 billion of cash last year, I said in the script. Congrats on a strong set of financial results as well as the safety record. I will leave it at that. First year EBITDA for the Missouri and Florida rebar micro mills are multiples of what we originally projected in our project return budgets. Nucor stock forecasts are adjusted once a day based on the closing price of the previous trading day. As most of you know, we are committed to first investing for profitable growth, while maintaining our strong investment grade credit rating and returning capital to our shareholders through cash dividends and share repurchases, a minimum of 40% of net income over time. Just like Rex said about Hannibal, but especially in the IMP space and Leon mentioned about that space and I want to actually to talk a little bit more about it, but we are excited about the Cornerstone IMP acquisition, the team that we now have. But we are optimistic about the plate market. A New Dividend King is Crowned 50 Years of Dividend Increases. We remain well capitalized with excellent liquidity. Our team has great determination to continue our record of delivering increased long-term value for our shareholders. Copy to Clipboard Copied! And so you are going to see Nucor continue to move and invest in projects where we can combine our culture, our strong balance sheet, and our investment strategy in deploying capital that will greatly exceed our cost of capital goals to return to our shareholders. Hannibal has been very successful, but also just a cultural fit in the first place. In 2005, the average Nucor employee earned $79,000, followed by a $2,000 bonus decided by the companys annual earnings and $18,000 in the form of profit sharing. First of all, there is significant growth, I think Leon mentioned it earlier, in this controlled environmental facilities, e-commerce, data centers, food, medicine, furthermore, building codes across the country for commercial and industrial buildings, continue to be more stringent and insulated panels are one of the best solutions out there in the construction market to achieve those thermal requirements. And so we would expect that we need to keep investing and returning capital to investors both and we have the capacity to both as we go forward. Answer: -Nucors employee profit sharing system wouldnt work at a much larger company. The company's earnings came in at $2.25 billion, or $7.97 per share. So we are already evaluating acquisition potential, greenfield potential in the racking business so we stepped into that business for the purposes of growing and growing further geographically and expanding our capabilities there. Distributions from a profit-sharing plan are taxable income and must be reported on an individual's tax return. I want to thank each of my Nucor team members for your daily commitment to safety, looking out for one another and I look forward to an even safer year in 2022. So as those mill to generate the returns and the EBITDA and the margins, we make sure we reinvest for the long term and all of those assets. Nucor had 16 divisions that went zero recordable injuries in 2021 and I look forward to the day when our entire company achieves that same goal. Here's 3 Dividend Stocks That Pay Monthly, View Joby Aviation Stock Preps For Takeoff, View 3 Lithium Stocks Powering Up For Big 2023 Gains, View 3 Large Caps With Good Upside AND Big Dividend Yields. Two more major capital projects totaling just over $1 billion have entered start up in late 2021 and early 2022. Ten cents of every dollar earned prior to payment of tax is secured for this purpose. Timna, one thing I would add to that is, to keep in mind, we are a bit more hot band centric than some of our competitors and that's where most the imports have come in. Behr? The limit is $305,000 for the 2022 tax year, up from $290,000 in 2021. And as Leon mentioned, as we talked about in the script, we believe non-res construction will remain very strong as we enter 2022 and even beyond. As Leon mentioned, fourth quarter of 2021 earnings of $7.97 per diluted share established a new quarterly record, eclipsing the prior record of $7.28 per share established in last year's third quarter. Net income for 2021 was $6.8 billion and full year earnings per share was $23.16, which were both notable increases over the prior records we'd set in 2018 with $2.4 billion of net income and an EPS of $7.42. Earnings per share were $7.97, exceeding our guidance range of $7.65 to $7.75. Record full year net income of $6.8 billion was driven by Nucor's diverse portfolio of products and capabilities. Today that's over a 110. Yeah. Today 200 Day Moving Average is the support level ( 133.28 $). I'm going to turn this one to Rex Query, our EVP of our Sheet and Tubular who is over the Hannibal Industries and then maybe Chad touch on our CENTRIA and Metl-Span. Very good, thank you. Seth, appreciate the question. A free inside look at company reviews and salaries posted anonymously by employees. Look, I can only speak to Nucor and I would just tell you Nucor has had a long history of what five and a half decades worth of reinvesting back into our mills. 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. And on behalf of myself and our entire executive team thank you. We will announce some, as we think about our portfolio and our waiting, particularly around sheet moving in the up the value chain and expanding our offering and galvanizing and paintings, again in the coming days you will see another announcement very -- we are very excited about that will continue to move us in that direction and again providing a better rounding out of that value-added in our sheet products businesses. So we begin from a platform of great strength and again a commitment to be even stronger and even cleaner. According to www.careerbliss.com, Nucor employees make an average of $70,000 annually. You have much to be proud of. We continue to see solid seasonal adjusted quoting activity. Jim anything you would add? Yeah, Emily. The third quarter of 2021 (which ended Oct. 2) came with record Auto is still down. Thank you and have a great day. When you say value added products, what are you referring to? Currently, Nucor is trading at 12.4x next year's earnings and a dividend yield of 3.4%. We have capacity to do more. At year-end gross debt as a percentage of total capital was approximately 28%, while net debt was about 14% of total capital. For opening remarks and introductions, I would like to turn the call over to Mr. Leon Topalian, President and Chief Executive Officer of Nucor Corporation. Congratulations to the entire Nucor Arkansas team. Sheet could be slightly down whereas other products we would think would more than offset them in general and we will see that volumes would probably improve from that level in the second quarter because there are winter factors with weather stuff that affect some of the shipments and also home crowd is affecting supply chains. NUCOR CORPORATION : Forcasts, revenue, earnings, analysts expectations, ratios for NUCOR CORPORATION Stock | NUE | US6703461052 Yeah, great question. WebNucor gross profit for the quarter ending December 31, 2022 was $2.097B, a 40.47% decline year-over-year. For discussion purposes, let us assume that A has received $1,000 in employer profit sharing contributions. The maximum contribution for a profit-sharing plan is the lesser of 25% of compensation or $61,000 in 2022, up from $58,000 in 2021. We are committed to keeping that is a relevant price that's transactionally based. The location along the Ohio River provides Nucor with important transportation and logistics advantages in serving the country's two largest sheet steel consuming regions in, the Midwest and Northeast, two areas where Nucor is currently under-represented. And congratulations on the strong update today. Adding this amount Eventually, all companies would want to have a consistent positive and growing net income, so that this can be used for various purposes Get daily stock ideas from top-performing Wall Street analysts. Finally, I would also like to mention a new project in our bar mill group. It's going to have a capacity over the year to give us an incremental 800,000 to 900,000 tons. Yeah. Form 4 or Form 5 obligations may continue. Most profit sharing payments are contributed directly to teammates' retirement savings accounts, and as a result, we believe that Nucor teammates are far more prepared for retirement than the average American. On December 16th, our Nucor Steel Arkansas Sheet Mill produced its first prime coil from its new generation 3 flexible galvanizing line. Disciplined execution of our growth strategy over the years is a significant factor underlying our success. And in the past you've helped us understand Nucor's breakdown of contract business and how to think about it. I will start Carlos. When we judge that strong free cash flow is causing us to become over capitalized, we will typically distribute more than 40% of our net income to shareholders. The years is a flat rolled converter with annual capacity to produce than! For this 250 million and extended the maturity date to November of 2026 our project return.... Mindful of our responsibility to shareholders earnings and a Dividend yield of %! Day Moving average is the support level ( 133.28 $ ) per diluted share statements that involve risks and.. You say value added products, what are you referring to America the highest quality deal! 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