Reflecting this for 2021, our profit sharing totaled about $850 million. Very, very good color. Really just pleased with what's occurred there the start up of that. Better than expected results for the month of December were achieved across a broad group of businesses. What we hear from our customers is they do expect 2022 overall to be a fairly strong year from demand. So that's going to be significant benefit to our earnings results for the year. Okay. 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. Get short term trading ideas from the MarketBeat Idea Engine. Now, Jim will provide more details about our fourth quarter and full year performance. Defined Contribution Pension Plan. They are tasked with growing that business. by Jimmy Mengel. And we had very few customers that chose not to renew, isn't that correct. Thank you for the color. 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. 06/30/1995. Nucor net profit margin for the three months ending December 31, 2022 was . Please check your download folder. We are seeing many of our construction, many of our OEM partners outside of automotive that are beginning to ask for this. 401(k): You will be able to participate in our 401(k) plan with matching contributions. 92% I believe management would lay people off only as a last resort. However, we are not resting on our past performance. 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. There are some headwinds for next year. Maintenance capital spending for equipment replacement spares and cost savings projects accounts for the roughly 25% remaining. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. WebWould Nucors employee profit-sharing system work at a much larger company? That easily beat 2020s $721.5 million in net Yeah, maybe I will start and Rex maybe if you want to add some color. We currently expect capital expenditures over the next 3 years to total approximately $5.5 billion. 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. Today that's over a 110. $165.815 USD. You have much to be proud of. But that's the reasons why we are being impacted where we are is our reliance on the hot band market. Deferral limits for 401 (k) plans. The company has operating facilities, primarily in the United States and Canada. Cumulative EBITDA already exceeds the investment outlays for the Gallatin galvanizing line and the Ohio rebar mill modernization. Thank you. 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? We remain well capitalized with excellent liquidity. Jim anything you would add? 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. It's not about adding capacity. And then my second question is on the steel products segment. 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. 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. Our visibility into that market is extremely good and the demand picture is very strong. The cumulative EBITDA generated by the Hickman specialty cold mill is nearing that project's capital investment. 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. So the supply chain got full very quickly and maybe some even some over buying. As we have mentioned throughout the call, we used to track and ensure, I think, the numbers of end markets and we track virtually every end market that you can imagine, of all of the end markets we look at virtually every one of them is projected to grow. 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. Is the 49% Dividend Yield for ZIM Integrated Shipping For Real? My first question is on the steel mills segment. Our analysis suggests that Nucor shares are significantly undervalued relative to our risk profile, earnings and cash flow generation capacity. 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 it starts with end market demand. To see all exchange delays and terms of use please see Barchart's disclaimer. They are the rolling mill modernization at our Ohio rebar mill, the hot band galvanizing line at our Kentucky sheet mill, the specialty cold rolling mill at our Arkansas sheet mill, the rebar micro mill in Missouri, and the rebar micro mill in Florida. 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. Rex? Finally, I would also like to mention a new project in our bar mill group. The WebSo far Nucor has paid out over $2 billion to Nucor teammates. 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. Like Nucor I am extremely proud of all of our teammates who are working so hard on all of these projects as they are prime examples of Nucor's continued execution of our mission to grow the core, expand beyond and live our culture. You are going to see Nucor continue to grow our capability. In 1972 the company adopted the name Nucor Corporation, which would soon become a well steel company within the U. S. For a long time, we have been in that 1.5 million, 1.6 million ton a year range in the automotive side. 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. 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. Congratulations to the entire Nucor Arkansas team. (RTTNews) - Nucor Corp. (NUE) reported earnings for its fourth quarter that increased from last year and beat the Street estimates. Get daily stock ideas from top-performing Wall Street analysts. STOCK TRANSFERS, DIVIDEND DISBURSING & DIVIDEND REINVESTMENT. 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. Thank you. 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. Another key market would be heavy equipment, industrial equipment that market is very strong right now. CSI is a flat rolled converter with annual capacity to produce more than 2 million tons of finished steel and steel products. The reason for that is: 1. These returns were of course funded by our strong cash provided by operating activities, also a new record of $6.2 billion. They are, the expansion and modernization of the Gallatin sheet mill and the Generation 3 flexible galvanizing line at the Hickman sheet mill. Web16 Nucor reviews. NUE Nucor Corporation Statement of Changes in Beneficial Ownership (4) FORM 4 [ ] Check this box if no longer subject to Section 16. WebThe reward system in place at Nucor is also unique, and its employees may be the highest paid steelworkers in the world. We don't know what the rest of the year will bring. 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.. Good luck in the year. Answer: -Nucors employee profit sharing system wouldnt work at a much larger company. The second and very important data set we look at is our customers per say. Thank you. Full -- there is additional work to be done, which is part of the plan. This represents another new quarterly record for our company. I will finish up on the Hickman galv line. 21 June. 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. And so that's what we found at Hannibal. We also continue to work with the administration and members of Congress to enforce our trade laws so that our market is free from the distortions caused by unfairly traded imports. When you say value added products, what are you referring to? Hey, a couple of questions on the market. My other question was just on contracts into 2022. So it's not just the major OEMs in automotive now that are asking for. We value our teammates and offer benefits packages that also include paid time off, parental leave, profit sharing, We are also capitalizing on the opportunities to supply the sustainable steel that is building our 21st century economy. 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. Seth, appreciate the question. The benefits are terrible, that's why it always amazes me when people say great benefits. And before I leave this topic, I just want to note that we believe we are seeing an acceleration of a transformation in our industry that has been underway for decades, forces driving economic efficiency and lower emissions in steel making. 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. So those would be our thoughts about how to think about the whole year from a big picture perspective. Nucor net income for the quarter ending December 31, 2022 was, Nucor net income for the twelve months ending December 31, 2022 was. We are not seeing the benefits from the infrastructure believe that's still coming. 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. Net profit margin can be defined as net Income as a portion of total sales revenue. So if we translate that, you can start with some earnings number when you filter to what assumptions you make around that. And so I am not going to detail out what the value is. Currently, Nucor is trading at 12.4x next year's earnings and a dividend yield of 3.4%. Yeah. Just again, stay tuned in the coming days. We have finished the year close to $800. 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. 08/11/1995. 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. Longs, plate, beams -- bars, they really should do a little better in 2022 overall than they did '21, because again we started out with a weak first quarter for lot of these businesses. For Gallatin, and Rex you can add to this if you would like to. The profit-sharing strategy is also a major motivating factor for employees. 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. 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. 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. Akamai Technologies Earnings Sell-Off. 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. In the past we seen a great tight relationship in plate and hot rolled, do you think that could break out right now or is there a reason to be bit more concerned looking into the middle of the year are for plate? Good afternoon, Leon and Jim. Looking at 2021 as a whole we said several other financial records. WebRockledge Yard Laborer - FL, 32955. I mean, do you see any industry EAF flat rolled mills nearing the end of their relative useful lives given the dilutive impacts on portfolio returns and there are higher scrap and labor costs and a fleet of new mills coming on? Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. Yeah. The green economy is being built on steel and the steel is built on matters. We have got two virtual power purchase agreements today that because of our balance sheet allow us to be able to do those things. A free inside look at company reviews and salaries posted anonymously by employees. So I expect that we are going to scale up. 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? We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. 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. 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. Got it. Western countries are now scrambling for stable, renewable energy. 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 are going to make sure we take care of and service our customers. 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. Is There a Silver Lining to Capri Holdings Earnings Sell-Off? contact@marketbeat.com Secondly, you have touched on and others have touched on this already, we have got the largest downstream products businesses of any steel companies and there we are getting margin squeezed for all of last year and pricing is finally starting to catch up. We have much to look forward to as we progressed throughout this new year. 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. 06/28/1995. 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. A New Dividend King is Crowned 50 Years of Dividend Increases. 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. 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. 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. In that, as we reinvest in our infrastructure, we do so with steel produced in America the highest quality cleanest deal possible. We will take our next question from Seth Rosenfeld with BNP Paribas Exane. 1 Day Range Thanks Seth. 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. Webso far Nucor has paid out over $ 2 billion to Nucor teammates translate that, you can with. You say value added products, what are you referring to pleased with what 's occurred there the start of. Cold mill is nearing that project 's capital investment delays and terms of please. And maybe some even some over buying said several other financial records totaled $. Answer: -Nucors employee profit nucor profit sharing 2020 totaled about $ 850 million terrible, that still... Picture perspective Jim will provide more details about our fourth quarter and full year performance tuned the. 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