Our next question comes from Carlos De Alba with Morgan Stanley. In November, we increased the capacity by $250 million and extended the maturity date to November of 2026. The minimum target price for Nucor analysts is $ 136.4 . So you will see that growth occurring. A free inside look at company reviews and salaries posted anonymously by employees. Thanks Seth. So you mentioned that you expect margin expansion in the first quarter, but can you talk about the size the duration of your backlogs currently and provide a bit more color on how you see the margin profile through the remainder of the year. 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. [Operator Instructions] We will take our first question from Sathish Kasinathan with Deutsche Bank. 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 stock forecasts are adjusted once a day based on the closing price of the previous trading day. WebDistributions. I hope you will agree that this is an impressive track record. WebNucor Corporation Profit Sharing and Retirement Savings Plan is a multi-employer defined contribution corporate pension fund based in Charlotte, North Carolina. However, we are not resting on our past performance. 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 . The second and very important data set we look at is our customers per say. Regarding the visibility we have good visibility. We had a -- the industry really catch up in terms of order entry rates and deliveries. Jim? We did not experience that as as a company. Adding this amount to teammate profit sharing over the course of the last five decades Nucor's Profit Sharing: Backlinks from other websites are the lifeblood of our site and a primary source of new traffic. [Operator Instructions]. Web16 Nucor reviews. Other significant uses of cash during the year were capital spending of $1.6 billion, expansion of working capital mainly receivables and inventory net of payables totaling approximately $3.3 billion and acquisitions of about $1.4 billion. So as we look and analyze that demand from this broad non-res construction base, we are very excited about what 2022 holds. The statutory federal tax rate for corporate profits is 21 percent. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. WebProfit Sharing. Reflecting this for 2021, our profit sharing totaled about $850 million. The benefits are terrible, that's why it always amazes me when people say great benefits. Currently, Nucor is trading at 12.4x next year's earnings and a dividend yield of 3.4%. 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. Thank you, Chad. Good luck in the year. Our talented, dedicated team members are Nucor's greatest value creators. 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. I want to thank each of my Nucor team members for your daily commitment to safety, looking out for one another and I look forward to an even safer year in 2022. By so many measures 2021 was an extraordinary year for Nucor. 87% 57% Source: Great Place To Work 2021 Global Employee Engagement Study. I will start Carlos. Thank you. A New Dividend King is Crowned 50 Years of Dividend Increases. And again just why IMP. One is non-residential construction. And if you combine that with our backlogs that are very robust and in some cases they are all time record backlogs, so that's one dataset that we look at. Which Dollar Store, If Any, is Worth Your Investment Dollars? We made somewhere in the $285 per ton of EBITDA in sheet in the first quarter. Once the $400 is distributed to the employee, the residual $600 is forfeited and no longer due to A.. Nucor's product breadth continues to be a powerful driver of value creation through the cycle for both our customers and shareholders. They have couple of operations California, Houston, the leadership we have had there really just spectacular, fit in well with our company. Thank you for your interest in Nucor. 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. That's an opportunity as that demand is increasing for some import to come in and that's what we have seen as we come in late in the year and we see some of that correction occurring. Rex? It's just a very solid demand picture. If there is any indication of weakness, it's around supply chain and that true consumption in demand at the OEMs. 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. January 30, 2019. So you saw demand increase, considerably pricing run off. For 2022, we project capital spending of approximately $2.3 billion. Medical and dental are just the beginning. 5 And we look forward to update. 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. When you say value added products, what are you referring to? And in fact I would tell you we had more requests for increase volume. Hannibal Industries, our first step into the racking side, obviously we look for companies that are successful is our first approach for Nucor. As we mentioned and have talked previously, our mission is very simple. This metric boils down to the overall profit that is left from the revenue that a company receives after taking out various operational line items like cost of goods sold, income tax expense, SG&A expense, etc. Becoming the world's safest steel company is a lofty goal and our team is now achieved back to back record years in safety. And at the end of the day, supply and demand will always be the drivers to how we price our products. 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. WebCurrent and historical net profit margin for Nucor (NUE) from 2010 to 2022. The green economy is being built on steel and the steel is built on matters. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. Like Nucor But when you think about the sheet market overall, our EBITDA for the year could approach the level we achieved last year, because our EBITDA ramped dramatically from the first quarter of last year to the end of last year. These investments meaningfully enhance Nucor sheet product capabilities. 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. 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. WebSafety is the most important part of all jobs within Nucor; therefore, candidates must be able to demonstrate the ability to initiate, lead, and uphold safety policies, practices, procedures, and housekeeping standards at all times. How should we think about that balance going forward in 2022 and perhaps what does the next chapter of your growth strategy look like? The biggest one being the sheet price correction that's really tied mainly to imports. So in March we will commission the EAF, LMF and the caster and by the end of March we will be capable of full production at that point with a wider strip and a thicker slab, but we are going to keep an eye on the market and will really measure that ramp up as we see what market conditions are doing at Gallatin. The cumulative EBITDA generated by the Hickman specialty cold mill is nearing that project's capital investment. Got it. Before getting too deep into this, Nucor deserves some credit for its recent financial results. Two more major capital projects totaling just over $1 billion have entered start up in late 2021 and early 2022. We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. Established in 1985, the plan covers all the employees of Nucor, a US steel producer. 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. We have finished the year close to $800. Also, most of its operating facilities and customers are located in North America. So we see that as an opportunity. 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. 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. The 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. These are healthy margins due to the supply and the strong demand balance that's out there. That makes sense. We had going into it, some strength in the marketplace from a demand standpoint. And on behalf of myself and our entire executive team thank you. NUCOR CORPORATION : Forcasts, revenue, earnings, analysts expectations, ratios for NUCOR CORPORATION Stock | NUE | US6703461052 These include the Kentucky plate mill, the West Virginia sheet mill, the South Atlantic rebar micro mill, and Gallatin's tubular products facility. Copy to Clipboard Copied! CASH. So we want to make sure that equipment is ready and available as we progressed out. Our team has great determination to continue our record of delivering increased long-term value for our shareholders. These capabilities represent important competitive advantages for our company exemplifying Nucor's ability to meet the needs of our customers for high strength steels. by Jimmy Mengel. 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. 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. 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. We think about what's happening, and warehousing, data storage cold storage. That easily beat 2020s $721.5 million in net Diluted earnings per share for the first quarter of 2022 will benefit from lower weighted average shares outstanding. I will start off and thanks for the question. We have got two virtual power purchase agreements today that because of our balance sheet allow us to be able to do those things. 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. Rex, you want to touch on contracts? Yeah, maybe I will start and Rex maybe if you want to add some color. And so we are going to see increased demand from auto. Common employee benefits include health insurance, flexible spending accounts, and paid time off. Export data to Excel for your own analysis. 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. CSI is a flat rolled converter with annual capacity to produce more than 2 million tons of finished steel and steel products. Defined Contribution Pension Plan. But what's norm, right? Thank you. Adding this amount to teammate profit sharing over the course of the last five decades Nucor's allocated a total of about $3.8 billion in profit sharing to our team members. We are leveraging our competitive advantage to aggressively and opportunistically pursue value enhancing long-term growth. Thank you. So that team is working feverishly to bring its capability to where we need. I will also comment on Hannibal and the racking that leadership team and that includes the existing there and the ones we have added from Nucor. Raw materials will be down year-over-year and that's because in 2021 when raw material prices were rising, we had inventory in the supply chain when we captured value hence we made money in DRI, because of low iron ore prices that we had on the ground and in our contracts, we made money in scrap, because we had scrap in our scrap yards that was being priced higher every month and every quarter prices were rising. 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. Over the years, the company has grown through acquisitions as well as by tapping new markets and expanding geographically. I think at a large company like apple or Microsoft the Thank you. This could be another year of strong free cash flow where we return to a sizable amount of cash to our investors. We are starting out with a carbon intensity that is 3x or 4x lower than some of our integrated competitors. Our next question comes from Emily Chieng with Goldman Sachs. 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. Team let's keep up our focus in 2022 and of course for Nucor that begins with a value of safety. March 1, 2023 Real-time analyst ratings, insider transactions, earnings data, and more. March 1, 2023 Yeah, good morning, everyone. It's going to be an automotive capable and focused galv line with the additional or the extra high strength. 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. 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. Very good, thank you. I have a few questions first from plate and then I will follow up later on green steel please. NUE Nucor Corporation Statement of Changes in Beneficial Ownership (4) FORM 4 [ ] Check this box if no longer subject to Section 16. On December 16th, our Nucor Steel Arkansas Sheet Mill produced its first prime coil from its new generation 3 flexible galvanizing line. Oil and gas has been a bit weaker in the last couple of years and that with oil prices today is growing by the day. Volume 693,839. So we will be able to feed into that. At the same time, I would tell you over the last 12 or 18 months, particularly as we move through the last contract season, Nucor has been very disciplined about our approach into the marketplace and how we want to transact. In-depth profiles and analysis for 20,000 public companies. It's eight word, is to grow core, expand beyond and live our culture. Do you want to talk about that at all? Separate question please on Econiq for the green steel brand. Nucor Corporation is a leading producer of structural steel, steel bars, steel joists, steel deck and cold finished bars in the United States. WebNucor Corp. NUE (U.S.: NYSE) View All companies. 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. Please go ahead, sir. We published our net debt to capital range that we want to live in to maintain our strong investment grade credit rating. More related And so as we move forward the short-term inflection that we are seeing both in pricing as well as some of the volumes that we think are a short-term factors are based on imports and obviously what we saw in the third quarter in terms of buying patterns are the spread between HRC domestically and internationally was at a all-time high. The company's earnings came in at $2.25 billion, or $7.97 per share. Thanks for taking the question. Put the employee bonus plan in writing. Base the bonus on results that are measurable or quantifiable. Give incentives to employees to meet goals. Be clear on the WHAT, the WHY, and the HOW. Make sure everybody gets something. Make the financial reward a strong enough incentive. That value will continue to increase. 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. Net profit margin can be defined as net Income as a portion of total sales revenue. If you are a stockholder of record (i.e., your shares are registered in Reflecting this for 2021, our profit sharing total about $850 million. Thank you and have a great day. So sheet could still average at or above what they did last year based on what we are seeing today. Is There a Silver Lining to Capri Holdings Earnings Sell-Off? The Nucor team is focused on maximizing our profitability and continuing to be great stewards of the valuable shareholder capital you entrust us with. 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. Now, Jim will provide more details about our fourth quarter and full year performance. Look, I think with the Gallatin expansion, as Jim mentioned and possibly Rex, we are going to be disciplined in that ramp up. On the plate market, obviously plate prices have been remarkably resilient last couple of weeks, even a sheet has followed accelerating rate, can you just give us a bit of color on what you are seeing specifically supporting the plate market today, what's unique in that supply demand balance, how sustainable is that. Through its network of 'mini-mills', the company produces steel sheets, bars, plates as well as various structural and other products. View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. So, I'll go back and read our earnings releases that we published about each of the major projects and see that data. Thanks, Leon. We are very proud of Nucor's help make the United States the cleanest place in the world to make steel. 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. That's very helpful. So as we look across our broad portfolio of downstream products it's a really solid quoting activity that's ongoing. Along the way, we are delivering a differentiated value proposition to our customers and expanding our relationships with them. American Consumer News, LLC dba MarketBeat 2010-2023. But that's the reasons why we are being impacted where we are is our reliance on the hot band market. Retirement Savings Plan Invest today for what you plan to accomplish tomorrow, with matching contributions and Today 200 Day Moving Average is the support level ( 133.28 $). Congrats on a strong set of financial results as well as the safety record. WebInsane money for profit sharing in excellent years. 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. You have much to be proud of. Nucor net profit margin for the three months ending December 31, 2022 was . We are going to have a very measured approach and a very deliberate approach into the marketplace. So we are able to ramp that up as we see fit. 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.. It's not a price standpoint, it's the demand. Yeah, Emily. I think there's three things of Nucor's touched on over really the last year. I will kick us off and ask Chad Utermark, our Executive Vice President of Products to really add some color in there. 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. That's Incremental free cash flow. Thank you. So, I have seen some of the information of not wanting in their contracts, those types of things. Although Nucor believes they are based on reasonable assumptions, there can be no assurance that future events will not affect their accuracy. We have the opportunity to continue to enhance that and do what's required to meet that demand picture. Jim anything you would add? 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 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.

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