NUCOR CORPORATION : Forcasts, revenue, earnings, analysts expectations, ratios for NUCOR CORPORATION Stock | NUE | US6703461052 Our next question comes from Emily Chieng with Goldman Sachs. 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. Turning to our fourth quarter results. 2021 capital returns consisted of dividends of $483 million and share repurchases of just under $3.3 billion. 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. Rex? Thank you for taking our questions today. As of 12/31/18, this particular employee is 40% vested, and therefore, entitled to $400 of the $1,000 balance. Got it. 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. That makes sense. So the raw material segments will be a small tailwind, a strong headwind, excuse me, and depreciation and amortization is going to be higher. Jim anything you would add? That team has been in construction mode for quite some time now. 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. Please go ahead, sir. We will measure that ramp up here in the first quarter with what we see on demand. So that's what we hear from our customers when we see this temporal correction. Thanks, Leon. 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. 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. We hired a -- our shift to the general manager, existing general manager Nucor over that business, but we are really pulling that group in to get them to understand Nucor integrate and look at our production bonus system and how we incorporate that, but it's very much step in learn as much about their business as well. 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. Well, working capital used $3.3 billion of cash last year, I said in the script. 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. 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? 92% I believe management would lay people off only as a last resort. The pricing for our product is always driven by demand and what we see in the plate market, I would highlight three key markets for us. The statutory federal tax rate for corporate profits is 21 percent. 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. $165.815 USD. We have already touched on this. Adding this amount Nucor Corporation is a leading producer of structural steel, steel bars, steel joists, steel deck and cold finished bars in the United States. Hope all of you are doing well. This could be another year of strong free cash flow where we return to a sizable amount of cash to our investors. We have done things that many in our industry have not. First, converting capacity utilizations, we don't break those out typically in detail by business. If you are a stockholder of record (i.e., your shares are registered in Nucor's consolidated net sales increased slightly to $10.36 billion in the fourth quarter of 2021 compared with $10.31 billion in the third quarter of 2021 and increased 97 percent On the contract side, we are -- contract season I would say it was what we expected. 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. 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. 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. The company has operating facilities, primarily in the United States and Canada. 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. At Nucor Corporation, workers receive some pension and welfare benefits. So we are able to ramp that up as we see fit. Defined Contribution Pension Plan. And finally to our shareholders, we are proud of the record returns provided in 2021. 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. For 2022, we project capital spending of approximately $2.3 billion. 92% I'm proud to tell others I work here. 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 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. I will stop there. 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. 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 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. Good afternoon, and welcome to our 2021 fourth quarter and full year's earnings call. Web A full benefits package, including Medical/Dental/Vision insurances; Long-Term Disability; Life Insurance; Vacation Days; 10 Paid Holidays; Personal and Safety Award Days; 401k with a match; Nucor Profit Sharing Program; Nucor stock purchase program; Adoption Assistance; Tuition Reimbursement for teammates and spouses, and a College Tuition The green economy is being built on steel and the steel is built on matters. Yeah, Timna, thanks for the question. There is a very disciplined process. 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. We are also expanding our presence in the Western U.S. 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. If there is any indication of weakness, it's around supply chain and that true consumption in demand at the OEMs. As most of you know, we are committed to first investing for profitable growth, while maintaining our strong investment grade credit rating and returning capital to our shareholders through cash dividends and share repurchases, a minimum of 40% of net income over time. Nucor net income for the quarter ending December 31, 2022 was, Nucor net income for the twelve months ending December 31, 2022 was. So, as Jim mentioned a few minutes ago, we are not going follow the market just because we want to produce the steel out of Gallatin. 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. Volume 693,839. Can you talk a little bit about how good your visibility is for sheet in particular and what you are looking for in order to ramp up Gallatin like what conditions, is it demand is it price or both? But Rex, any other color would like to share in terms of that ramp up? 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. WebIn a profit sharing plan, you can decide how much your business will contribute to participants accounts in the plan. by Jimmy Mengel. Yeah, hi, good afternoon. We have performed in a really tight market for our customers and we have the interest in renewing contracts, that's what we saw for this season. Very good, thank you. Sign in to your free account to enjoy all that MarketBeat has to offer. Rex? The profit-sharing strategy is also a major motivating factor for employees. Putin's invasion of Ukraine has revealed the West's dependence on Russia for their energy needs. Backlinks from other websites are the lifeblood of our site and a primary source of new traffic. Just again, stay tuned in the coming days. This investment, which is expected to close shortly, expands our geographic reach in the sheet market, grows our portfolio of value-added sheet products, and enables us to supply Nucor's downstream businesses in the region, including Verco and the recently acquired Hannibal Industries. Hey, great. WebProfit Sharing. 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. The company match changes every year depending on how the company is performing. 06/15/1995. View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. At year-end gross debt as a percentage of total capital was approximately 28%, while net debt was about 14% of total capital. In this case, a portion of the distributions would be tax-free. 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. So we begin from a platform of great strength and again a commitment to be even stronger and even cleaner. Hey, a couple of questions on the market. Our expectation and our stated goals are to double that to around 3 million tons. If you think about just five years, six years ago, we had about 55 cases that were one in carbon steel. Currently, Nucor is trading at 12.4x next year's earnings and a dividend yield of 3.4%. So the supply chain got full very quickly and maybe some even some over buying. Today that's over a 110. We look forward to introducing our new capabilities to strategic customers as the year progresses and we are excited about the returns expected to be generated for our shareholders as these projects ramp-up. 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. Export data to Excel for your own analysis. Disciplined execution of our growth strategy over the years is a significant factor underlying our success. Good afternoon. 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. We are starting out with a carbon intensity that is 3x or 4x lower than some of our integrated competitors. 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. A New Dividend King is Crowned 50 Years of Dividend Increases. The demand in key markets is very good and we instituted a published price in obviously of 2020 and that's a relevant price. Yeah. What benefits are offered to employees? The reason for that is: 1. WebInsane money for profit sharing in excellent years. 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. 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. With approximately half of Nucor's products going into the construction market, we stand ready to help our country meet its infrastructure needs. Over the years, the company has grown through acquisitions as well as by tapping new markets and expanding geographically. It's going to have a capacity over the year to give us an incremental 800,000 to 900,000 tons. I have a few questions first from plate and then I will follow up later on green steel please. 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. We are very, very excited. Your password must be at least 8 characters long and contain at least 1 number, 1 letter, and 1 special character. Nucor net profit margin for the three months ending December 31, 2022 was . 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. 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. Is the 49% Dividend Yield for ZIM Integrated Shipping For Real? And so you are going to see Nucor continue to move and invest in projects where we can combine our culture, our strong balance sheet, and our investment strategy in deploying capital that will greatly exceed our cost of capital goals to return to our shareholders. At this time, I will turn the conference back to Mr. Leon Topalian for any additional or closing remarks. Earnings per share were $7.97, exceeding our guidance range of $7.65 to $7.75. Full -- there is additional work to be done, which is part of the plan. And so we would expect that we need to keep investing and returning capital to investors both and we have the capacity to both as we go forward. 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. 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. For the full year 2021, Nucor reported consolidated net earnings of $6.83 billion, or $23.16 per diluted share, compared with consolidated net earnings of $721.5 Billions could be poured into exploration companies searching for new U.S. deposits. We don't know what the rest of the year will bring. Seth, I want to turn that to Al Behr, our EVP of Plate and Structural Group. 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. Congratulations to the entire Nucor Arkansas team. Yeah. Nucor gross profit for the twelve months ending December 31, 2022 was Once the $400 is distributed to the employee, the residual $600 is forfeited and no longer due to A.. WebCurrent and historical net profit margin for Nucor (NUE) from 2010 to 2022. View which stocks are hot on social media with MarketBeat's trending stocks report. So we see that as an opportunity. This represents another new quarterly record for our company. An Overview of Blue Chips. Once operational our West Virginia mill will have some of the most advanced capabilities and one of the lowest carbon footprints of any sheet mill in the world. Please check your download folder. 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 Our cash, short-term investments and restricted cash holdings totaled about $2.8 billion at year-end. Now, Jim will provide more details about our fourth quarter and full year performance. Hannibal Industries, our first step into the racking side, obviously we look for companies that are successful is our first approach for Nucor. Yes, thank you, Leon. And speaking of those, as we move into 2022, we are not letting up when it comes to executing our strategy to grow our value-added product portfolio and expand into new product markets and geographic regions. Thank you. Okay. 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. Yeah. We have capacity to do more. 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. More information about the risks and uncertainties relating to these forward-looking statements may be found in Nucor's latest 10-K and subsequently filed 10-Qs, which are available on the SEC's and Nucor's website. View Russia Ignites West's Battle for Energy Independence, View 3 Midcap Energy Stocks Set For Triple-Digit Earnings Growth, View Want Monthly Income? Zoetis, Pet-Med Specialist, Double-Digit Earnings Growth Ahead, 3 Mid-Cap Earnings Plays to Watch This Week. 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. In addition, there are four initial steps for setting up a profit sharing plan:Adopt a written plan document,Arrange a trust for the plan's assets,Develop a recordkeeping system, andProvide plan information to employees eligible to participate. In December, we announced an agreement to acquire a majority ownership stake of 51% in California Steel Industries for about $400 million. I know that there was a lot of chatter about moving to shrink the discounts against CRU. For all of 2021, Nucor reported net earnings of $6.83 billion, or $23.16 per diluted share, on $25.5 billion in sales. So you saw demand increase, considerably pricing run off. And if you think about Nucor's 55% return on equity, a large piece of that was attributable because of the sheet group. 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. 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 we will be able to feed into that. Western countries are now scrambling for stable, renewable energy. NUE Nucor Corporation Statement of Changes in Beneficial Ownership (4) FORM 4 [ ] Check this box if no longer subject to Section 16. Finally, I would also like to mention a new project in our bar mill group. I wanted to ask a bit about your visibility into the first quarter. [Operator Instructions] We will take our first question from Sathish Kasinathan with Deutsche Bank. But that's the reasons why we are being impacted where we are is our reliance on the hot band market. Turning to the outlook. We are not just going to make steel and enforce in the marketplace if we can't sell it at a reasonable price. Our crystal ball gets pretty fuzzy when we look out very much past the next month or so. And of course, we had a fairly robust M&A pipeline. Our analysis suggests that Nucor shares are significantly undervalued relative to our risk profile, earnings and cash flow generation capacity. Match could be better than it is. And it starts with end market demand. They are, the expansion and modernization of the Gallatin sheet mill and the Generation 3 flexible galvanizing line at the Hickman sheet mill. CASH. 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. 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. 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 Steel mills segment earnings are expected to decline in the first quarter of 2022 due to decreased profitability of our sheet mills offsetting increased profitability at our long products mills. But again the outlook and the demand picture across every end market the Nucor serves remains very robust, and again, we think this is going to work through the inventory rebalancing and position us well as we move forward. Is Does Magna International Earnings Warning Bad for EV Sales? 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. Yeah, thanks, Emily. The Nucor stock prediction results are shown below and presented as a graph, table and text information. Yeah. The only thing Leon that regarding growth is we are likely to have another nice next weekend on a growth initiative that's in the pipeline that's again to add capabilities around our product mix. Distributions are taxed at a taxpayer's ordinary income rate. Nucor annual/quarterly net income history and growth rate from 2010 to 2022. 326 E 8th St #105, Sioux Falls, SD 57103 The tax-avoiding companies represent various industries and collectively enjoyed almost $40.5 billion in U.S. pretax income in 2020, according to their annual financial reports. Fourth quarter earnings also exceeded our guidance range of $7.65 to $7.75 per diluted share. Reflecting this for 2021, our profit sharing total about $850 million. We continue to see solid seasonal adjusted quoting activity. 3.285 2.02%. I guess there are no other employers in their areas. For a long time, we have been in that 1.5 million, 1.6 million ton a year range in the automotive side. Our team has great determination to continue our record of delivering increased long-term value for our shareholders. 1 There are also limits on the amount of your pay that goes into figuring out contributions. 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. Operator, we are now ready to take questions. 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. The share repurchases totaled more than 33.8 million shares at an average cost of about $97 per share. That's 18% to 22%. 1 Day Range We think about what's happening, and warehousing, data storage cold storage. Really just pleased with what's occurred there the start up of that. 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. In 2005, the average Nucor employee earned $79,000, followed by a $2,000 bonus decided by the companys annual earnings and $18,000 in the form of profit sharing. And in particular, if we think about our sheet group and their performance, the sheet group set a record in terms of shipments at over 11 million tons, generated over $6 billion in EBITDA performance. That easily beat 2020s $721.5 million in net 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. 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 should see some strong tailwind from lower input cost, so just any color you can provide. Thank you very much. Like Nucor I will leave it at that. Back to NUE Overview. Cumulative EBITDA already exceeds the investment outlays for the Gallatin galvanizing line and the Ohio rebar mill modernization. Powered by CiteTotal, online essay bibliography maker. So sheet could still average at or above what they did last year based on what we are seeing today. 401 (k) Plan. Our Econiq offering represents the world's first ever net zero carbon steel available at scale. The third quarter of 2021 (which ended Oct. 2) came with record Is There a Silver Lining to Capri Holdings Earnings Sell-Off? The cumulative EBITDA generated by the Hickman specialty cold mill is nearing that project's capital investment. Although Nucor believes they are based on reasonable assumptions, there can be no assurance that future events will not affect their accuracy. 21 June. If you, the employer, make contributions to a profit sharing plan, you can deduct up to 25 percent of 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. WebDistributions. It's going to be an automotive capable and focused galv line with the additional or the extra high strength. 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. You are going to see Nucor continue to grow our capability. Web16 Nucor reviews. 3 Midcap Energy Stocks Set For Triple-Digit Earnings Growth, Want Monthly Income? January 30, 2019. We have the opportunity to continue to enhance that and do what's required to meet that demand picture. 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 automotive sector that Jim Frias mentioned as well. , 1 letter, and 1 special character Nucor continue to grow our capability million shares at average! This Week, you can provide primary source of new traffic year will bring King is Crowned 50 years Dividend. Represents the world 's first ever net zero carbon steel available at scale a graph, table text., those types of things new Dividend King is Crowned 50 years of Dividend Increases with approximately of... Color you can provide galv line with the additional or closing remarks 3 million tons exceeds! 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