For 2022, we project capital spending of approximately $2.3 billion. 21 June. So, I have seen some of the information of not wanting in their contracts, those types of things. 65 Day Avg Vol 1,846,352. Turning to our fourth quarter results. Your password must be at least 8 characters long and contain at least 1 number, 1 letter, and 1 special character. In 1972 the company adopted the name Nucor Corporation, which would soon become a well steel company within the U. S. Joining me on the call today are several members of Nucor's executive team including Jim Frias, our Chief Financial Officer; Dave Sumoski, Chief Operating Officer; Al Behr, responsible for Plate and Structural Products; Doug Jellison, responsible for Raw Materials and Logistics; Greg Murphy, responsible for Business Services and our General Counsel; Dan Needham, responsible for Bar and Rebar Fabrication and Engineered Bar Products; Rex Query, responsible for Sheet and Tubular Products; MaryEmily Slate, responsible for Commercial Strategy; and Chad Utermark, responsible for Fabricated Construction Products. We continue to see solid seasonal adjusted quoting activity. Very good, thank you. Focusing on the quarter, we expect consolidated net earnings attributable to Nucor shareholders will be slightly reduced from the fourth quarter of 2021's record results. We had going into it, some strength in the marketplace from a demand standpoint. 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. 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. Hope all of you are doing well. WebNucor The manufacturer of steel and steel products is headquartered in Charlotte, N.C. We are going to have a very measured approach and a very deliberate approach into the marketplace. We averaged $560 per ton in sheet last year. (RTTNews) - Nucor Corp. (NUE) reported earnings for its fourth quarter that increased from last year and beat the Street estimates. Hannibal Industries, our first step into the racking side, obviously we look for companies that are successful is our first approach for Nucor. Nucor annual/quarterly net income history and growth rate from 2010 to 2022. 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. Reflecting this for 2021, our profit sharing total about $850 million. Yeah, hi, good afternoon. Mike, I would tell you, I think the overall trend is you are going to see that gap shrink. 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. And it's -- the heart of it is non-res construction biggest user steel, but we are still not benefiting yet. So we are able to ramp that up as we see fit. And finally to our shareholders, we are proud of the record returns provided in 2021. The reason for that is: 1. Chips and auto won't ramp up till later this year. I will leave it at that. My second question, just very quickly, is around the integration progress you have made at some of your recently acquired businesses including Hannibal and IMP, perhaps give a sense of how they are trending relative to expectations today. 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. So we expect to keep doing things to try and deal with that. Identify stocks that meet your criteria using seven unique stock screeners. 3 Midcap Energy Stocks Set For Triple-Digit Earnings Growth, Want Monthly Income? So, I'll go back and read our earnings releases that we published about each of the major projects and see that data. January 30, 2019. Thanks. 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. I wanted to ask a bit about your visibility into the first quarter. 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. Thank you for taking our questions today. Turning to the outlook. Congrats on a strong set of financial results as well as the safety record. So we begin from a platform of great strength and again a commitment to be even stronger and even cleaner. I will start off and thanks for the question. 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. Real-time analyst ratings, insider transactions, earnings data, and more. And so Chad why don't you add some commentary behind some of that backlogs. So, it's more than just what those pieces are, its price, it's delivery, and service. It's all BS. Nucor's liquidity also includes our undrawn $1.75 billion unsecured revolving credit facility. Our crystal ball gets pretty fuzzy when we look out very much past the next month or so. How much money do Nucor employees make? Thank you. Earnings per share were $7.97, exceeding our guidance range of $7.65 to $7.75. (844) 978-6257. Last year's number was about $865 million, this year is going to be just north of a $1 billion. Nucor gross profit for the twelve months ending December 31, 2022 was 87% 57% Source: Great Place To Work 2021 Global Employee Engagement Study. In fact, it was the other way around. 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. Got it. Thanks for taking the question. And so from a Nucor perspective, I would tell you not at all. A New Dividend King is Crowned 50 Years of Dividend Increases. We are not seeing the benefits from the infrastructure believe that's still coming. Distributions are taxed at a taxpayer's ordinary income rate. WebDistributions. And in the past you've helped us understand Nucor's breakdown of contract business and how to think about it. And that concludes today's question-and-answer session. And we had very few customers that chose not to renew, isn't that correct. Rex? 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. We are going to make sure we take care of and service our customers. Web87% of employees at Nucor Corporation say it is a great place to work compared to 57% of employees at a typical U.S.-based company . 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 Okay. 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. If you look at our industry over the last 12, 18 to 24 months, there has been significant shifts in consolidation, rationalization and trade. But it's important to remember as well that's coming off a historic year. Russia Ignites West's Battle for Energy Independence. The steel product segment is expected to achieve further margin expansion and profitability in the first quarter of 2022 as backlog pricing continues to improve. With approximately half of Nucor's products going into the construction market, we stand ready to help our country meet its infrastructure needs. 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. 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. WebProfit Sharing Retirement Savings Medical Tuition Scholarships Growth Potential Balance Paid Parental Leave EMPLOYER RECOGNITION 1915 Rexford Road Charlotte, North Our talented, dedicated team members are Nucor's greatest value creators. 401 (k) Plan. 5 Coming off a historic year like we had in '21. Answer: -Nucors employee profit sharing system wouldnt work at a much larger company. 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. We made somewhere in the $285 per ton of EBITDA in sheet in the first quarter. Please check your download folder. The Nucor stock prediction results are shown below and presented as a graph, table and text information. There are still businesses that have more room to go in terms of expanding their margins and getting prices cut because of the size of what their backlogs are good. Yeah. 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. Thank you for your interest in Nucor. Diluted earnings per share for the first quarter of 2022 will benefit from lower weighted average shares outstanding. Okay. The cumulative EBITDA generated by the Hickman specialty cold mill is nearing that project's capital investment. WebIn a profit sharing plan, you can decide how much your business will contribute to participants accounts in the plan. We should see some strong tailwind from lower input cost, so just any color you can provide. Yeah. At year-end gross debt as a percentage of total capital was approximately 28%, while net debt was about 14% of total capital. WebSo far Nucor has paid out over $2 billion to Nucor teammates. 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. Automotive is going to be significant portion of what we look for in that business for that. We are very, very excited. Our team has great determination to continue our record of delivering increased long-term value for our shareholders. This will be Nucor's third rebar micro mill joining micro mills in Missouri and Florida that begin operations in 2020. Congrats again, and thank you. 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. 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