WebDistributions. For 2022, we project capital spending of approximately $2.3 billion. Nucor net profit margin for the three months ending December 31, 2022 was . Get short term trading ideas from the MarketBeat Idea Engine. Okay. 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. Once the $400 is distributed to the employee, the residual $600 is forfeited and no longer due to A.. But end market demand remains strong. Now that lead times are a lot shorter. The third quarter of 2021 (which ended Oct. 2) came with record And so from a Nucor perspective, I would tell you not at all. So, that really is what it comes down to Seth. Again this -- again more recent transformation over the last two, three, four years and moving into a much more sustainable place, Nucor is, again, I think been ahead of the curve. Our team has great determination to continue our record of delivering increased long-term value for our shareholders. And as far as the margins and our backlog, there are solid. American Consumer News, LLC dba MarketBeat 2010-2023. 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. So that is going to continue. Okay. 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. Our team delivered incredible financial and operating results over the course of the year, while working safely and responsibly. 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. Thank you for the color. And on behalf of myself and our entire executive team thank you. Our teammates at these facilities have done stellar work, executing across the board on safety, product quality, and financial performance. STOCK TRANSFERS, DIVIDEND DISBURSING & DIVIDEND REINVESTMENT. Operator, we are now ready to take questions. How much money do Nucor employees make? 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 Western countries are now scrambling for stable, renewable energy. While our 2021 performance unquestionably benefited from an exceptionally strong steel industry up cycle, Nucor's results were also fueled by our team's focus and commitment to safely meeting our customers' needs. We have the opportunity to continue to enhance that and do what's required to meet that demand picture. Yeah, good morning, everyone. Nucor stock forecasts are adjusted once a day based on the closing price of the previous trading day. By executing operationally across our business lines and in parallel, investing in Nucor's future, we are generating attractive returns for our shareholders and positively impacting our local communities. Seth, appreciate the question. 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. Net profit margin can be defined as net Income as a portion of total sales revenue. We look forward to continuing to offer Econiq to more customers, and of course, lower greenhouse gas emission steel across our product portfolio. Form 4 or Form 5 obligations may continue. 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. Good luck in the year. The minimum target price for Nucor analysts is $ 136.4 . 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. This could be another year of strong free cash flow where we return to a sizable amount of cash to our investors. 1 Day Range We did not experience that as as a company. Another key market would be heavy equipment, industrial equipment that market is very strong right now. View Is the 49% Dividend Yield for ZIM Integrated Shipping For Real? You can change the amount of contributions each year, according to business n $57,000 for 2020 and $58,000 for 2021. So we want to make sure that equipment is ready and available as we progressed out. Fourth quarter earnings also exceeded our guidance range of $7.65 to $7.75 per diluted share. We had a -- the industry really catch up in terms of order entry rates and deliveries. Currently, Nucor is trading at 12.4x next year's earnings and a dividend yield of 3.4%. Yeah, thanks, Emily. by Jimmy Mengel. 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. Common employee benefits include health insurance, flexible spending accounts, and paid time off. 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. 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. By so many measures 2021 was an extraordinary year for Nucor. We are also expanding our presence in the Western U.S. We are pleased that our leaders came together in the fourth quarter to pass historic bipartisan infrastructure legislation that will help advance and modernize U.S. infrastructure and strengthen the health of our economy by creating opportunities for American workers. We averaged $560 per ton in sheet last year. Yeah, great question. Our next question comes from Carlos De Alba with Morgan Stanley. 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. (844) 978-6257. 3.285 2.02%. Eventually, all companies would want to have a consistent positive and growing net income, so that this can be used for various purposes 21 June. Yeah. 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. Defined Contribution Pension Plan. 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. 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 We are committed to keeping that is a relevant price that's transactionally based. WebNucor The manufacturer of steel and steel products is headquartered in Charlotte, N.C. Becoming the world's safest steel company is a lofty goal and our team is now achieved back to back record years in safety. Nucor net income for the quarter ending December 31, 2022 was, Nucor net income for the twelve months ending December 31, 2022 was. Auto is still down, because of the chips. Is Stellantis Stock a Value Investors Dream? Two weeks ago, we announced that Mason County West Virginia will be the location of our new state-of-the-art 3 million ton sheet mill. We are currently evaluating potential sites and are excited about this opportunity to grow our profitable leadership position in rebar, a core business for Nucor throughout the last 50 years. 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. And we are excited about Econiq. Got it. Thanks Seth. Reflecting this for 2021, our profit sharing totaled about $850 million. 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. At the same time, our goals are not to get overly weighted. Satish l will start us off and maybe Jim or Rex Query, EVP of our Sheet Group can touch on the Gallatin expansion. 2021 capital returns consisted of dividends of $483 million and share repurchases of just under $3.3 billion. A Buying Opportunity? (RTTNews) - Nucor Corp. (NUE) reported earnings for its fourth quarter that increased from last year and beat the Street estimates. They are tasked with growing that business. January 30, 2019. The company's earnings came in at $2.25 billion, or $7.97 per share. I will start off and thanks for the question. The cumulative EBITDA generated by the Hickman specialty cold mill is nearing that project's capital investment. 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 limit on employee elective deferrals (for traditional and safe harbor plans) is: $22,500 in 2023 ($20,500 in 2022, $19,500 in 2021 and 2020; and $19,000 in 2019), subject to cost-of-living adjustments. Yeah. 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. 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. Cumulative EBITDA already exceeds the investment outlays for the Gallatin galvanizing line and the Ohio rebar mill modernization. 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. We have already touched on this. 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. I guess there are no other employers in their areas. Really just pleased with what's occurred there the start up of that. Behr? 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. As we conclude our call today, I just want to thank the entire Nucor family for delivering the safest year in our history and the most profitable year in our history. We have got two virtual power purchase agreements today that because of our balance sheet allow us to be able to do those things. If you are a stockholder of record (i.e., your shares are registered in Better than expected results for the month of December were achieved across a broad group of businesses. When you say value added products, what are you referring to? It's not a price standpoint, it's the demand. Good afternoon. It also produces direct reduced iron ('DRI') that is used in its steel mills. WebNucor gross profit for the quarter ending December 31, 2022 was $2.097B, a 40.47% decline year-over-year. For our team, the most important value is safety and so I'm incredibly pleased to report that 2021 was the safest year in our history. Those were key sectors. 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. Is Does Magna International Earnings Warning Bad for EV Sales? And it starts with end market demand. And congratulations on the strong update today. WebInsane money for profit sharing in excellent years. Thank you for your interest in Nucor. A New Dividend King is Crowned 50 Years of Dividend Increases. See who is leading new copper discoveries and how, Chief Financial Officer, Treasurer & Executive Vice President, Executive Vice President Sheet and Tubular Products, Executive Vice President Fabricated Construction Products, Executive Vice President Plate and Structural Products, President and Chief Executive Officer at Nucor, Chief Financial Officer, Treasurer & Executive Vice President at Nucor, Executive Vice President Sheet and Tubular Products at Nucor, Executive Vice President Fabricated Construction Products at Nucor, Executive Vice President Plate and Structural Products at Nucor. 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. For the full year 2021, Nucor reported consolidated net earnings of $6.83 billion, compared with consolidated net earnings of $721.5 million in 2020. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. But it's important to remember as well that's coming off a historic year. We are very excited to partner here with JFE Steel Corporation on our second joint venture. Good afternoon, Leon and Jim. Last year's number was about $865 million, this year is going to be just north of a $1 billion. Second question, if I may, is you -- given the $5.5 billion in capex over the next three years, I mean, some of that already is ongoing with projects that you are executing, but how do you see the returns on these investments, any sense of the incremental EBITDA that you could generate from these projects that would be great. More related Maintenance capital spending for equipment replacement spares and cost savings projects accounts for the roughly 25% remaining. 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. Putin's invasion of Ukraine has revealed the West's dependence on Russia for their energy needs. Do you want to talk about that at all? WebNucor Corporation Profit Sharing and Retirement Savings Plan is a multi-employer defined contribution corporate pension fund based in Charlotte, North Carolina. Through its network of 'mini-mills', the company produces steel sheets, bars, plates as well as various structural and other products. It's going to have a capacity over the year to give us an incremental 800,000 to 900,000 tons. They are, the expansion and modernization of the Gallatin sheet mill and the Generation 3 flexible galvanizing line at the Hickman sheet mill. Rex? Capital returns have averaged 58% of net income over the five-year period ending in 2021 and they were 55% of Nucor's net income for the year up 2021. The If you look at our industry over the last 12, 18 to 24 months, there has been significant shifts in consolidation, rationalization and trade. The spread case's different, but obviously the door opened up with the the massive spread. 5 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 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. Yeah, thanks. So we expect to keep doing things to try and deal with that. Jack in the Box Pops On Tasty Results, Robust Outlook, Wendys Price Firms After Sizzling Quarter And Juicy Outlook, Terran Orbitals New $2.4 Billion Contract is a Game Changer, From Betty Crocker to Blue Buffalo, General Mills Looks Strong, Cracker Barrel Stock: Range Bound, but High Yield For 2023, This Small Company Is Set To Drive Future Of Lithium Batteries, What Are Blue Chip Stocks? I will kick us off and ask Chad Utermark, our Executive Vice President of Products to really add some color in there. Rex? 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. But the way the market is right now, we are going to start out at a much slower pace in the first quarter and it's going to depend on market demand. 401(k): You will be able to participate in our 401(k) plan with matching contributions. As we mentioned and have talked previously, our mission is very simple. And if you think about Nucor's 55% return on equity, a large piece of that was attributable because of the sheet group. WebSo far Nucor has paid out over $2 billion to Nucor teammates. [Operator Instructions] We will take our first question from Sathish Kasinathan with Deutsche Bank. 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. You have much to be proud of. 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