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. Chips and auto won't ramp up till later this year. Yeah. Again, the next is going to be incremental benefits from the ramp of three major projects, the Hickman galvanized line, the Gallatin hot mill to the extent that there is enough sheet demand to ship some portion of that another 8,000 tons of extra capacity we will have for the year, and then finally the Kankakee, our merchant bar mill, we have been running parts of its capability, but not it's full range yet and so there's still some incremental capacity in Kankakee that we are not benefiting from that we will benefit from next year, so another positive for the years outlook. So that's what we hear from our customers when we see this temporal correction. I will leave it at that. Okay. So I expect that we are going to scale up. For the full year of 2021, they generated EBITDA totaling $674 million. View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. So we expect to keep doing things to try and deal with that. Copy to Clipboard Copied! 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. Yeah. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Our next question comes from Timna Tanners with Wolfe Research. Adding this amount And as we need to move that according to the supply and demand market in the markets we will do that, but what direction that may go is just tough for us to tell, then the demand is good, and we are encouraged. This represents another new quarterly record for our company. Backlinks from other websites are the lifeblood of our site and a primary source of new traffic. Like Nucor Make no mistake. The steelmaker says its record earnings per diluted share of $7.42 is 24 percent higher than previous record earnings of $5.98 per diluted share reported in 2008.. What benefits are offered to employees? The final market I would highlight would be energy, broadly energy, which includes renewables as well as oil and gas. Retirement Savings Plan Invest today for what you plan to accomplish tomorrow, with matching contributions and We value our teammates and offer benefits packages that also include paid time off, parental leave, profit sharing, And if you think about Nucor's 55% return on equity, a large piece of that was attributable because of the sheet group. The benefits are terrible, that's why it always amazes me when people say great benefits. The forward-looking statements made in this conference call speak only as of this date and Nucor does not assume any obligation to update them either as a result of new information, future events or otherwise. We are not seeing the benefits from the infrastructure believe that's still coming. A Buying Opportunity? 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. Nucor Corp.s record 2022 earnings means the Charlotte-based steel company will hit another record almost $1 billion in profit sharing for the nearly 31,000 For a long time, we have been in that 1.5 million, 1.6 million ton a year range in the automotive side. So, that really is what it comes down to Seth. 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. January 30, 2019. Our teammates at these facilities have done stellar work, executing across the board on safety, product quality, and financial performance. 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. It's eight word, is to grow core, expand beyond and live our culture. (RTTNews) - Nucor Corp. (NUE) reported earnings for its fourth quarter that increased from last year and beat the Street estimates. We are seeing many of our construction, many of our OEM partners outside of automotive that are beginning to ask for this. 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. And if you look at what we have done over the past few years, we have been adding galvanizing lines, we're ramping it up at Arkansas right now. At what point does a company become too large for profit sharing to make a difference in employee motivation? With approximately half of Nucor's products going into the construction market, we stand ready to help our country meet its infrastructure needs. 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. First year EBITDA for the Missouri and Florida rebar micro mills are multiples of what we originally projected in our project return budgets. Nucor's product breadth continues to be a powerful driver of value creation through the cycle for both our customers and shareholders. And with the correction that we are seeing right now on the sheet side with with what you have seen in some of the pricing what led up to that is we entered 2020 with COVID and things started to contract and shut down and 2021 was the recovery so to speak from that standpoint. And also can you talk about the ramp up profile at Gallatin and the total incremental volumes you expect from the mill for the current quarter as well as the full year. But end market demand remains strong. Now that lead times are a lot shorter. 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. Good luck in the year. 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. So those would be our thoughts about how to think about the whole year from a big picture perspective. Thanks Seth. Get daily stock ideas from top-performing Wall Street analysts. Our record financial performance is the result of years of work reinvesting to strategically position and grow our portfolio of capabilities across the steel value chain. Through its network of 'mini-mills', the company produces steel sheets, bars, plates as well as various structural and other products. And I think there's two important areas to think about; one is what our earnings going to be; and one is what our free cash flow going to be and that's -- those are the things that I think interest you most. WebThe reward system in place at Nucor is also unique, and its employees may be the highest paid steelworkers in the world. 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. 87% 57% Source: Great Place To Work 2021 Global Employee Engagement Study. 21 June. And then my second question is on the steel products segment. 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. Separate question please on Econiq for the green steel brand. Congratulations to the entire Nucor Arkansas team. So, I have seen some of the information of not wanting in their contracts, those types of things. Also, most of its operating facilities and customers are located in North America. And maybe at the end I will make some comments about the year that are more global about what we are thinking about regarding the economic impacts of Nucor. 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. We are committed to keeping that is a relevant price that's transactionally based. View which stocks are hot on social media with MarketBeat's trending stocks report. Get short term trading ideas from the MarketBeat Idea Engine. I don't know that I would add a lot more than what we talked about as a consistent drumbeat around demand. At the same time, our goals are not to get overly weighted. Is There a Silver Lining to Capri Holdings Earnings Sell-Off? We're proud to have been able to provide cash returns via dividends and share repurchases totaling about $3.8 billion in 2021 and in December to increase our regular quarterly dividend for the 49th year in a row this year by 23% to a rate of $0.50 per quarter. The reason for that is: 1. My first question is just around the capital allocation and I think last year churn that you have been able to execute both growth and a significant amount of capital returns. In that, as we reinvest in our infrastructure, we do so with steel produced in America the highest quality cleanest deal possible. In November, we increased the capacity by $250 million and extended the maturity date to November of 2026. A New Dividend King is Crowned 50 Years of Dividend Increases. And it starts with end market demand. Can you give us a bit more color on the scale of volume growth you think could be achievable say in the next one to two years. And it's -- the heart of it is non-res construction biggest user steel, but we are still not benefiting yet. Nucor annual net income for 2022 was $7.607B, a 11.95% 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. Yeah. The Nucor stock prediction results are shown below and presented as a graph, table and text information. We are very excited to partner here with JFE Steel Corporation on our second joint venture. 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. Common employee benefits include health insurance, flexible spending accounts, and paid time off. CASH. Types of Profit-Sharing PlansCash Plan. The employees covered under this plan are given with cash or stock of the organization or company at the end of every year or quarter as Deferred Plans. The profit-sharing is directed into a specific fund know as the trust fund, which provides the rewards to the employees on a later date, often on Combination Plan. 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. It's going to be an automotive capable and focused galv line with the additional or the extra high strength. And we had very few customers that chose not to renew, isn't that correct. Thanks. Over the years, the company has grown through acquisitions as well as by tapping new markets and expanding geographically. 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. Team let's keep up our focus in 2022 and of course for Nucor that begins with a value of safety. Thank you, Chad. 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. So that team is working feverishly to bring its capability to where we need. $0.07. A free inside look at company reviews and salaries posted anonymously by employees. We have the opportunity to continue to enhance that and do what's required to meet that demand picture. We are starting out with a carbon intensity that is 3x or 4x lower than some of our integrated competitors. On July 23, Nucor announced a profit of $109 million, or 36 cents per share, for its second quarter ending July 4, according to a company statement. So our contract season for us, we finished very typical with what we target for contract CIS, both on the service center side as well as overall. $165.815 USD. So firstly you could comment as to how you see capacity utilization in your different key products, particularly in Q1 and maybe how you see the progression into Q2 and the second half of the year if you have visibility given your with your backlog? Stock Bonus. Finally, I would also like to mention a new project in our bar mill group. The limit is $305,000 for the 2022 tax year, up from $290,000 in 2021. 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. It's not a price standpoint, it's the demand. Net income can be defined as company's net profit or loss after all revenues, income items, and expenses have been accounted for. Got it. It's going to be a pretty strong earnings number and we go to free cash flow. Yeah, maybe I will start and Rex maybe if you want to add some color. 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. Every single day our nearly 29,000 team members remain focused on our company's mission to grow our core steel making capabilities, while expanding our presence into related businesses that fit with our culture and leverage our strengths. It also produces direct reduced iron ('DRI') that is used in its steel mills. REAL TIME 2:15 PM EST 02/27/23. Auto is still down. 06/28/1995. 65 Day Avg Vol 1,846,352. So we will be able to feed into that. We have much to look forward to as we progressed throughout this new year. Yes, Satish. We have noted in my comments that we are going to be doing some strong share repurchases in the first quarter. 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. Do you want to talk about that at all? 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. Earnings per share were $7.97, exceeding our guidance range of $7.65 to $7.75. 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 In December, we announced our plan to build a new rebar micro mill with annual capacity of 430,000 tons in the South Atlantic region. That team has been in construction mode for quite some time now. WebSo far Nucor has paid out over $2 billion to Nucor teammates. WebNucor offers their employees a Profit Sharing Plan. WebIn a profit sharing plan, you can decide how much your business will contribute to participants accounts in the plan. At this time, I will turn the conference back to Mr. Leon Topalian for any additional or closing remarks. 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. And that concludes today's question-and-answer session. I will stop there. How should we think about that balance going forward in 2022 and perhaps what does the next chapter of your growth strategy look like? We have capacity to do more. 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. Switching to the plate market, our Brandenburg, Kentucky greenfield mill is on track to begin rolling its first steel plate product in the fourth quarter of this year with a capability to manufacture nearly all the different types of plate products consumed in the United States, Brandenburg will position Nucor as the supplier of choice in the domestic plate market, which includes applications in offshore wind, heavy equipment, construction and military. We have talked about that quite a bit. Yeah. Profit Sharing: Do you expect that spread to contract back to where it has been historically or do you think there is something special going on to keep those spreads wider than we have seen historically? So we are able to ramp that up as we see fit. Yeah. Western countries are now scrambling for stable, renewable energy. Make a difference in employee motivation 's eight word, is n't that.! From our customers and shareholders on safety, product quality, and its employees may be the quality! 4X lower than some of our site and a primary source of new traffic an. The first quarter feverishly to bring its capability to where we need earnings per share were $ 7.97 exceeding... If you want to add some nucor profit sharing 2020 and it 's the demand new project in project! Not seeing the benefits are terrible, that really is what it comes to. Information of not wanting in their contracts, those types of things from a big picture perspective we see.. 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