(844) 978-6257. WebNucor The manufacturer of steel and steel products is headquartered in Charlotte, N.C. Good afternoon. Yes, Satish. You have much to be proud of. Well, working capital used $3.3 billion of cash last year, I said in the script. 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. There are some headwinds for next year. Yeah. Eventually, all companies would want to have a consistent positive and growing net income, so that this can be used for various purposes Earlier this month, we shipped our very first coil of Econiq to General Motors after having just launched this new line of steels this past October. Defined Contribution Pension Plan. Some of our oldest mills are the highest generating returns that we have in our entire portfolio and it's because we do a great job of reinvesting our teams, do an amazing job of keeping the maintenance and up keep and staying on the latest trends for the improvements in technology to implement to ensure not only the safest delivery of that steel, but also the lowest cost output to those steel products for our customers. I will kick us off and ask Chad Utermark, our Executive Vice President of Products to really add some color in there. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. So we are in the 80% range in overall target for us, so fairly typical from a volume standpoint as we finish up contract season for heading into 2022. 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. WebIn a profit sharing plan, you can decide how much your business will contribute to participants accounts in the plan. And so I can tell you, there is a lot of excitement about Nucor's capabilities being the first EAF to be able to produce a full generation 3 steel in Hickman as well as what the opportunity and capability of the West Virginia sheet mill will be able to do in terms of transforming a differentiated clean steel, net zero steel into the OEMs and so we are committed to move there. As we mentioned and have talked previously, our mission is very simple. I hope you will agree that this is an impressive track record. When we think about our free cash flow next year, we reduced our share count by 11% last year through significant capital or returns of capital to investors through share repurchases. March 1, 2023 Web A full benefits package, including Medical/Dental/Vision insurances; Long-Term Disability; Life Insurance; Vacation Days; 10 Paid Holidays; Personal and Safety Award Days; 401k with a match; Nucor Profit Sharing Program; Nucor stock purchase program; Adoption Assistance; Tuition Reimbursement for teammates and spouses, and a College Tuition We value our teammates and offer benefits packages that also include paid time off, parental leave, profit sharing, And on behalf of myself and our entire executive team thank you. Another key market would be heavy equipment, industrial equipment that market is very strong right now. 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. 06/15/1995. It's all BS. You can only withdraw profit-sharing money under certain circumstances. You will receive a distribution if your employer ends the plan without creating a replacement. You can take your money once you reach age 59 1/2 or if you suffer a qualified financial hardship. Adding this amount Profitability records were set by numerous businesses including Nucor sheet mills, rebar and merchant bar mills, engineered bar mills, plate mills, structural mills, joist and deck, tubular products, cold finished bars, and fasteners. Please check your download folder. It also produces direct reduced iron ('DRI') that is used in its steel mills. Hannibal has been very successful, but also just a cultural fit in the first place. Adding this amount to teammate profit sharing over the course of the last five decades Nucor's Yeah, maybe I will start and Rex maybe if you want to add some color. WebIf you worked at Nucor and were paid $34 an hour like they say the average is, you would go from making 70k a year with the overtime to making closer or more than a 100k with overtime. 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. It'll be much closer to zero. 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. Full -- there is additional work to be done, which is part of the plan. So those would be our thoughts about how to think about the whole year from a big picture perspective. Reflecting this for 2021, our profit sharing total about $850 million. We have the opportunity to continue to enhance that and do what's required to meet that demand picture. 3 Midcap Energy Stocks Set For Triple-Digit Earnings Growth, Want Monthly Income? 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. Akamai Technologies Earnings Sell-Off. 92% I believe management would lay people off only as a last resort. The announcement of our rebar micro mill to continue our market leadership position in rebar, the new mill in West Virginia, we are incredibly excited about, because again it provides a long-term differentiated value proposition for our customers that they have been asking for it in need. Nucor annual net income for 2022 was $7.607B, a 11.95% I will start Carlos. Seth, I want to turn that to Al Behr, our EVP of Plate and Structural Group. STOCK TRANSFERS, DIVIDEND DISBURSING & DIVIDEND REINVESTMENT. We remain well capitalized with excellent liquidity. Currently, Nucor is trading at 12.4x next year's earnings and a dividend yield of 3.4%. There is a very disciplined process. Our quarterly dividend is now about 30% higher than it was in 2018. And we may at some point come out with something more formal where we recap a number of projects that are coming nearing completion and give what the cumulative EBITDA benefit is, but in my remarks, I talked about what we're seeing real time in 2021 and EBITDA from the projects that were recently completed. WebNucor Corp. NUE (U.S.: NYSE) View All companies. Record full year net income of $6.8 billion was driven by Nucor's diverse portfolio of products and capabilities. Yes, thank you, Leon. Thanks Seth. $0.07. 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. And so from a Nucor perspective, I would tell you not at all. I guess there are no other employers in their areas. 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. It's eight word, is to grow core, expand beyond and live our culture. Sorry, good afternoon, everyone. 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. Our next question comes from Emily Chieng with Goldman Sachs. The valuation is attractive and the dividend yield is interesting. So, that really is what it comes down to Seth. And before I turn the call over to Jim, I would like to congratulate the entire Nucor team on reaching new heights to achieve our safest and most profitable year in company's history. Steel mills segment earnings are expected to decline in the first quarter of 2022 due to decreased profitability of our sheet mills offsetting increased profitability at our long products mills. My first question is on the steel mills segment. Rex? I have a few questions first from plate and then I will follow up later on green steel please. Thank you, Chad. With our team's disciplined focus on execution and Nucor's financial and operational strengths, we expect to realize very attractive returns on our investments. It's going to be an automotive capable and focused galv line with the additional or the extra high strength. Over the years, the company has grown through acquisitions as well as by tapping new markets and expanding geographically. But if I think back to, even in the height of the pandemic in 2020 that business segment remain incredibly robust that is continued and we see that continuing moving forward. So, it enables Nucor to offer what we did to General Motors a few weeks ago in the first coil of net zero steel to their to their factory. The profit-sharing strategy is also a major motivating factor for employees. So we begin from a platform of great strength and again a commitment to be even stronger and even cleaner. 3.285 2.02%. An Overview of Blue Chips. Nucor annual/quarterly net income history and growth rate from 2010 to 2022. I mean, we talk with our customers weekly. Thank you. Thanks, Leon. NUCOR CORPORATION : Forcasts, revenue, earnings, analysts expectations, ratios for NUCOR CORPORATION Stock | NUE | US6703461052 For the full year of 2021, they generated EBITDA totaling $674 million. So we have announced a 35% reduction target by 2030 that will bring us to about a 0.37, 0.38 tons of CO2 per ton of steel produced, which again in the world numbers is incredibly low. We have much to look forward to as we progressed throughout this new year. 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? But the thing we keep hearing right now is this is a short-term temporal correction in the underlying demand, much like Al mentioned in those sectors. Our team delivered incredible financial and operating results over the course of the year, while working safely and responsibly. The benefits are terrible, that's why it always amazes me when people say great benefits. So, the acquisition of CSI for us and having JFE as a second partnership in California and again majority shareholder in that operation, it's really exciting for us. Before we go to Q&A, I would like to just take a moment to highlight our Board's action to increased Nucor's base dividend for the 49th consecutive year, effective with the February 11th payment. Yeah, hi, good afternoon. And if you think about to move in the time over the last 24 to 36 months and what's going on in the world of ESG, the sustainability side of our industry is paramount and again Nucor is incredibly well positioned as one of the cleanest steel makers in the world to offer steel like we just did to General Motors. But again the outlook and the demand picture across every end market the Nucor serves remains very robust, and again, we think this is going to work through the inventory rebalancing and position us well as we move forward. But relative to capex and benefits, we do -- when we announced each project, we generally give some sort -- when it's a major projects we give some sort of an EBITDA run rate. 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. Through its network of 'mini-mills', the company produces steel sheets, bars, plates as well as various structural and other products. 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. Certain statements made during this conference call will be forward-looking statements that involve risks and uncertainties. At this time, I will turn the conference back to Mr. Leon Topalian for any additional or closing remarks. Mike, I would tell you, I think the overall trend is you are going to see that gap shrink. And we look forward to update. The insulated metal panel space has been attractive to Nucor for a long time and we were excited back in 2019 to purchase a start-up company called TrueCore and we are equally excited to welcome the Cornerstone IMP team into Nucor. But if we think about overall volumes in the first quarter, it's probably going to be slightly up because of seasonality in the first quarter. While we faced some short-term challenges with chemical supply and a portion of inadequately priced backlog at the time of acquisition, we are still very excited about our future in IMP. Congratulations to the entire Nucor Arkansas team. The commentary that we made towards the returns and the strength that we anticipate in 2022 as the input costs level will come down, the margin expansion will certainly continue in well into '22. Regarding the visibility we have good visibility. Retirement Savings Plan Invest today for what you plan to accomplish tomorrow, with matching contributions and In terms of the overall, where that ends up, I am not going to speculate, I would tell you that with a healthy functioning market, it's going to find its equilibrium. The minimum target price for Nucor analysts is $ 136.4 . Copy to Clipboard Copied! The only thing I would add Emily is that when we think about returning capital to investors that portion of it, it's going to start with 40% of our earnings and that's going to be a pretty good number in the first quarter. You are going to see Nucor continue to grow our capability. Do you want to talk about that at all? WebNucor gross profit for the quarter ending December 31, 2022 was $2.097B, a 40.47% decline year-over-year. 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. We started went up at Gallatin the year before that. Net profit margin can be defined as net Income as a portion of total sales revenue. And I would ask you to remember our growth through the years and downstream steel products allows Nucor to have a very good visibility into the demand of construction products such as rebar fab, steel piling, pre-engineered metal buildings, res key, steel tubing, insulated panel, joist and deck, and steel conduit. In November, we increased the capacity by $250 million and extended the maturity date to November of 2026. Competitive base pay and Nucor Profit Sharing Plan, with opportunities for merit increases based on performance A chance to grow your career with a stable company owned by Nucor, North Americas largest steel producer A full benefits package, including Medical/Dental/Vision insurances; Short-Term and Long-Term Disability; Life Insurance We have noted in my comments that we are going to be doing some strong share repurchases in the first quarter. Yeah. View which stocks are hot on social media with MarketBeat's trending stocks report. Additional expenses: A large company incurs a lot of expenses by the side where the company has to cover for additional human resource costs, maintenance costs, legal and regulatory costs etc. 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. Compare NUE With Other Stocks From: To: Zoom: 10 20 30 40 TTM Revenue -5 0 5 TTM Net Income A1 drilling and taking 2020 21 22 23 Fried didnt respond to a re- lar fraud that was among the some pressure off A new indictment unsealed quest to comment. A full benefits package, including Medical/Dental/Vision insurances; Short-Term and Long-Term Disability; Life Insurance for you and your dependents; Vacation Days; 10 Paid Holidays; Personal and Safety Award Days; Nucor Profit Sharing program; 401k with a match; Nucor stock purchase program; Tuition Reimbursement for you and a View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. 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. So we see that as an opportunity. We have already touched on this. Hey, great. Sign in to your free account to enjoy all that MarketBeat has to offer. These investments meaningfully enhance Nucor sheet product capabilities. According to www.careerbliss.com, Nucor employees make an average of $70,000 annually. 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. And so that's what we found at Hannibal. American Consumer News, LLC dba MarketBeat 2010-2023. Turning to the outlook. In-depth profiles and analysis for 20,000 public companies. Please go ahead, sir. So, I'll go back and read our earnings releases that we published about each of the major projects and see that data. The following Management's Discussion and Analysis of Financial Condition and Results of Operations of Nucor Corporation should be read in conjunction with the consolidated financial statements of | March 1, 2023 We have got one project that we are going to be closing out soon and that's on the CSI project, but it's not as big as the combined things we did last year by large amount and there could be other things coming. I also think the industry has moved as well as Nucor in terms of creating higher highs and higher lows that will continue to move forward. 21 June. For the full year 2021, Nucor reported consolidated net earnings of $6.83 billion, or $23.16 per diluted share, compared with consolidated net earnings of $721.5 Auto is still down, because of the chips. Yeah, good morning, everyone. I will start off and thanks for the question. And so we expect to see margin expansion in the first quarter and beyond for those businesses so that's a positive. 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. Thanks. And congratulations on the strong update today. Is There a Silver Lining to Capri Holdings Earnings Sell-Off? The biggest one being the sheet price correction that's really tied mainly to imports. By creating a free account, you agree to our, Home Depot Stock Earnings Slide, Long Term Value Still There, AbbVie Stock Still a Solid Buy Despite Challenges, 7 Cash Rich Stocks That Offer Safety in Any Market, The Best Strategy For Your Small Trading Account, 7 Battery Stocks That Will Make You a Millionaire by 2030. Becoming the world's safest steel company is a lofty goal and our team is now achieved back to back record years in safety. Common employee benefits include health insurance, flexible spending accounts, and paid time off. Diluted earnings per share for the first quarter of 2022 will benefit from lower weighted average shares outstanding. We have done things that many in our industry have not. 31, 2022 was $ 7.607B, a 40.47 % decline year-over-year very strong right.... No other employers in their areas the steel mills segment View which stocks are hot on media... Do you want to talk about that at all biggest one being the sheet price correction 's... 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