The words we expect, believe, anticipate, and variations of such words and similar expressions are intended to identify those forward-looking statements which are based on management's current expectations and information that is currently available. 21 June. Distributions from a profit-sharing plan are taxable income and must be reported on an individual's tax return. 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. Fourth quarter earnings also exceeded our guidance range of $7.65 to $7.75 per diluted share. Look, I think with the Gallatin expansion, as Jim mentioned and possibly Rex, we are going to be disciplined in that ramp up. WebDistributions. We have done things that many in our industry have not. Our talented, dedicated team members are Nucor's greatest value creators. 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. WebSo far Nucor has paid out over $2 billion to Nucor teammates. 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. So that team is working feverishly to bring its capability to where we need. 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. So what I would tell you is, there is value there today. We have talked about that quite a bit. 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. I will start Carlos. 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. Seth, I want to turn that to Al Behr, our EVP of Plate and Structural Group. 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. 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. 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. Before getting too deep into this, Nucor deserves some credit for its recent financial results. 326 E 8th St #105, Sioux Falls, SD 57103 And again just why IMP. The company has operating facilities, primarily in the United States and Canada. Rex, you want to touch on contracts? All rights reserved. But end market demand remains strong. Volume 693,839. 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. Our next question comes from Carlos De Alba with Morgan Stanley. I know that there was a lot of chatter about moving to shrink the discounts against CRU. And so we expect to see margin expansion in the first quarter and beyond for those businesses so that's a positive. 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? The WebProfit Sharing Retirement Savings Medical Tuition Scholarships Growth Potential Balance Paid Parental Leave EMPLOYER RECOGNITION 1915 Rexford Road Charlotte, North Adding this amount to teammate profit sharing over the course of the last five decades Nucor's 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 have capacity to do more. 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. We have much to look forward to as we progressed throughout this new year. Currently, Nucor is trading at 12.4x next year's earnings and a dividend yield of 3.4%. Form 4 or Form 5 obligations may continue. The We remain well capitalized with excellent liquidity. 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. Good afternoon, Leon and Jim. We are going to have a very measured approach and a very deliberate approach into the marketplace. Is Does Magna International Earnings Warning Bad for EV Sales? So that's a step for sure into that and the new Midwest mill as Leon mentioned. This could be another year of strong free cash flow where we return to a sizable amount of cash to our investors. 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. Hannibal has been very successful, but also just a cultural fit in the first place. But we are optimistic about the plate market. Established in 1985, the plan covers all the employees of Nucor, a US steel producer. The valuation is attractive and the dividend yield is interesting. The new galvanizing line combined with Hickman's highly successful specialty cold rolling mill that's been in operation for more than two years uniquely positions our company among North American EAF steelmakers to provide the high strength lightweight steels that are increasingly in demand. 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. Deferral limits for 401 (k) plans. I have a few questions first from plate and then I will follow up later on green steel please. Those were key sectors. First year EBITDA for the Missouri and Florida rebar micro mills are multiples of what we originally projected in our project return budgets. Reflecting this for 2021, our profit sharing total about $850 million. Maintenance capital spending for equipment replacement spares and cost savings projects accounts for the roughly 25% remaining. WebProfit Sharing. Hope all of you are doing well. Now that lead times are a lot shorter. 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. (RTTNews) - Nucor Corp. (NUE) reported earnings for its fourth quarter that increased from last year and beat the Street estimates. Putin's invasion of Ukraine has revealed the West's dependence on Russia for their energy needs. And it starts with end market demand. It's eight word, is to grow core, expand beyond and live our culture. We don't know what the rest of the year will bring. So that is going to continue. At this time, I will turn the conference back to Mr. Leon Topalian for any additional or closing remarks. 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. Cumulative EBITDA already exceeds the investment outlays for the Gallatin galvanizing line and the Ohio rebar mill modernization. So, it's more than just what those pieces are, its price, it's delivery, and service. Thank you and have a great day. World leaders must find new sources of minerals, such as copper, essential to their transition to energy independence. In-depth profiles and analysis for 20,000 public companies. So we are able to ramp that up as we see fit. 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. Yeah, Emily. It's just a very solid demand picture. 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. 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. We are going to make sure we take care of and service our customers. So we expect to keep doing things to try and deal with that. Also, most of its operating facilities and customers are located in North America. Identify stocks that meet your criteria using seven unique stock screeners. 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. Compare NUE With Other Stocks From: To: Zoom: 10 20 30 40 TTM Revenue -5 0 5 TTM Net Income So if we translate that, you can start with some earnings number when you filter to what assumptions you make around that. So I expect that we are going to scale up. 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. At year-end gross debt as a percentage of total capital was approximately 28%, while net debt was about 14% of total capital. Separate question please on Econiq for the green steel brand. You mentioned you are hot band exposure in right now, we are looking at historically wide spreads between hot rolled and value-added products. 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. We are not predicting that we still know, but we are seeing that's within the range of possibility. The Nucor stock prediction results are shown below and presented as a graph, table and text information. Our Econiq offering represents the world's first ever net zero carbon steel available at scale. 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. Billions could be poured into exploration companies searching for new U.S. deposits. They are, the expansion and modernization of the Gallatin sheet mill and the Generation 3 flexible galvanizing line at the Hickman sheet mill. Our quarterly dividend is now about 30% higher than it was in 2018. CSI is a flat rolled converter with annual capacity to produce more than 2 million tons of finished steel and steel products. 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. 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? So we will be able to feed into that. Your password must be at least 8 characters long and contain at least 1 number, 1 letter, and 1 special character. So you will see that growth occurring. We are not seeing the benefits from the infrastructure believe that's still coming. And our customers are overwhelmingly bullish on their 2022 demand. Nucor Corporation is a leading producer of structural steel, steel bars, steel joists, steel deck and cold finished bars in the United States. 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. 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. 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. Last year's number was about $865 million, this year is going to be just north of a $1 billion. 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. There are some headwinds for next year. By so many measures 2021 was an extraordinary year for Nucor. Yeah. The reason for that is: 1. We will measure that ramp up here in the first quarter with what we see on demand. Okay. STOCK TRANSFERS, DIVIDEND DISBURSING & DIVIDEND REINVESTMENT. 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 Operator, we are now ready to take questions. Our team delivered incredible financial and operating results over the course of the year, while working safely and responsibly. We currently expect capital expenditures over the next 3 years to total approximately $5.5 billion. Yeah. We have the opportunity to continue to enhance that and do what's required to meet that demand picture. Retirement Savings Plan Invest today for what you plan to accomplish tomorrow, with matching contributions and This represents another new quarterly record for our company. The profit-sharing strategy is also a major motivating factor for employees. Full -- there is additional work to be done, which is part of the plan. We are very excited to begin work with the local community in Mason County on this transformational project that will create substantial long-term value for all Nucor shareholders. 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 steel product segment is expected to achieve further margin expansion and profitability in the first quarter of 2022 as backlog pricing continues to improve. Thanks, Leon. 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. 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 If you are a stockholder of record (i.e., your shares are registered in 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. WebNucor Corp. NUE (U.S.: NYSE) View All companies. Okay. We are very excited to partner here with JFE Steel Corporation on our second joint venture. These are healthy margins due to the supply and the strong demand balance that's out there. We are seeing many of our construction, many of our OEM partners outside of automotive that are beginning to ask for this. 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