Net income can be defined as company's net profit or loss after all revenues, income items, and expenses have been accounted for. Certain statements made during this conference call will be forward-looking statements that involve risks and uncertainties. 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. Congrats again, and thank you. Identify stocks that meet your criteria using seven unique stock screeners. Nucor's product breadth continues to be a powerful driver of value creation through the cycle for both our customers and shareholders. Earnings per share were $7.97, exceeding our guidance range of $7.65 to $7.75. We are working diligently through the integration and on-boarding process. Coming off a historic year like we had in '21. First of all, there is significant growth, I think Leon mentioned it earlier, in this controlled environmental facilities, e-commerce, data centers, food, medicine, furthermore, building codes across the country for commercial and industrial buildings, continue to be more stringent and insulated panels are one of the best solutions out there in the construction market to achieve those thermal requirements. 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. 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. The announcement of our rebar micro mill to continue our market leadership position in rebar, the new mill in West Virginia, we are incredibly excited about, because again it provides a long-term differentiated value proposition for our customers that they have been asking for it in need. While we faced some short-term challenges with chemical supply and a portion of inadequately priced backlog at the time of acquisition, we are still very excited about our future in IMP. Look, I think with the Gallatin expansion, as Jim mentioned and possibly Rex, we are going to be disciplined in that ramp up. And we are excited about Econiq. We are leveraging our competitive advantage to aggressively and opportunistically pursue value enhancing long-term growth. Billions could be poured into exploration companies searching for new U.S. deposits. These projects represent an aggregate capital investment of just over $1 billion. 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? And before I turn the call over to Jim, I would like to congratulate the entire Nucor team on reaching new heights to achieve our safest and most profitable year in company's history. 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. 5 And that concludes today's question-and-answer session. 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. This will be Nucor's third rebar micro mill joining micro mills in Missouri and Florida that begin operations in 2020. Really just pleased with what's occurred there the start up of that. And so what I would tell you in a year that was way off because of the chip shortages in 2021 somewhere in that 12.5 million, 13 million units Nucor share in automotive grew and that is going to continue to grow. 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. So I expect that we are going to scale up. Along the way, we are delivering a differentiated value proposition to our customers and expanding our relationships with them. 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. One is non-residential construction. 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 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. Powered by CiteTotal, online essay bibliography maker. Our team has great determination to continue our record of delivering increased long-term value for our shareholders. Yeah. Our analysis suggests that Nucor shares are significantly undervalued relative to our risk profile, earnings and cash flow generation capacity. First, converting capacity utilizations, we don't break those out typically in detail by business. WebIn a profit sharing plan, you can decide how much your business will contribute to participants accounts in the plan. As Leon mentioned, fourth quarter of 2021 earnings of $7.97 per diluted share established a new quarterly record, eclipsing the prior record of $7.28 per share established in last year's third quarter. 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. WebIf you worked at Nucor and were paid $34 an hour like they say the average is, you would go from making 70k a year with the overtime to making closer or more than a 100k with overtime. Yeah, hi, good afternoon. 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. In December, we announced our plan to build a new rebar micro mill with annual capacity of 430,000 tons in the South Atlantic region. I will kick us off and ask Chad Utermark, our Executive Vice President of Products to really add some color in there. 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. Good afternoon. 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. Jim? NUCOR CORPORATION : Forcasts, revenue, earnings, analysts expectations, ratios for NUCOR CORPORATION Stock | NUE | US6703461052 Also, most of its operating facilities and customers are located in North America. And so that's what we found at Hannibal. To see all exchange delays and terms of use please see Barchart's disclaimer. We are committed to keeping that is a relevant price that's transactionally based. The automotive sector that Jim Frias mentioned as well. Sign in to your free account to enjoy all that MarketBeat has to offer. CASH. Nucor stock forecasts are adjusted once a day based on the closing price of the previous trading day. Yeah. 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. Reflecting this for 2021, our profit sharing total about $850 million. March 1, 2023 Our Econiq offering represents the world's first ever net zero carbon steel available at scale. We value our teammates and offer benefits packages that also include paid time off, parental leave, profit sharing, A New Dividend King is Crowned 50 Years of Dividend Increases. Retirement Savings Plan Invest today for what you plan to accomplish tomorrow, with matching contributions and With approximately half of Nucor's products going into the construction market, we stand ready to help our country meet its infrastructure needs. So, first, relative to the year, as part of your question gets into what you expect for the year. 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. In fact, it was the other way around. 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. 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. In-depth profiles and analysis for 20,000 public companies. When we look at inventory receivables and payables net, they are not going to use that much cash to share that could be small benefit. Another key market would be heavy equipment, industrial equipment that market is very strong right now. But it's important to remember as well that's coming off a historic year. At what point does a company become too large for profit sharing to make a difference in employee motivation? And as Leon just stated about Gallatin, it's really an opportunity is we are getting some work done there. Putin's invasion of Ukraine has revealed the West's dependence on Russia for their energy needs. How much money do Nucor employees make? Yeah. Thanks for the question. Net profit margin can be defined as net Income as a portion of total sales revenue. My other question was just on contracts into 2022. Before getting too deep into this, Nucor deserves some credit for its recent financial results. WebNucor offers their employees a Profit Sharing Plan. That's Incremental free cash flow. 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. 1 There are also limits on the amount of your pay that goes into figuring out contributions. Adding this amount to teammate profit sharing over the course of the last five decades Nucor's 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. We had a -- the industry really catch up in terms of order entry rates and deliveries. Russia Ignites West's Battle for Energy Independence. [Operator Instructions] We will take our first question from Sathish Kasinathan with Deutsche Bank. Distributions are taxed at a taxpayer's ordinary income rate. 87% 57% Source: Great Place To Work 2021 Global Employee Engagement Study. Backlinks from other websites are the lifeblood of our site and a primary source of new traffic. It's all BS. View Russia Ignites West's Battle for Energy Independence, View 3 Midcap Energy Stocks Set For Triple-Digit Earnings Growth, View Want Monthly Income? Does that makes sense? 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. 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. The reason for that is: 1. Well, working capital used $3.3 billion of cash last year, I said in the script. And so what we would be looking for, we are going to look at for that demand. (844) 978-6257. No North American producer is better positioned than Nucor to continue leading in these areas. By so many measures 2021 was an extraordinary year for Nucor. I wanted to ask a bit about your visibility into the first quarter. 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. [Operator Instructions]. Today 200 Day Moving Average is the support level ( 133.28 $). 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. Okay. It's going to be a pretty strong earnings number and we go to free cash flow. 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. WebInsane money for profit sharing in excellent years. Yeah, thanks, Emily. 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. It's not a price standpoint, it's the demand. We did not experience that as as a company. Get short term trading ideas from the MarketBeat Idea Engine. And then couple that with the supply chain constraints, labor constraints and the omicron variant raging, all created for a little bit of a perfect storm here in the fourth quarter heading into early part of 2022. So we recognize that that's a part of our portfolio that would perform better and we are quite so weighed to hot band. Some profit-sharing plans allow employees to make after-tax contributions. WebProfit Sharing. I'm going to turn this one to Rex Query, our EVP of our Sheet and Tubular who is over the Hannibal Industries and then maybe Chad touch on our CENTRIA and Metl-Span. An Overview of Blue Chips. 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. We are not seeing the benefits from the infrastructure believe that's still coming. 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. We will announce some, as we think about our portfolio and our waiting, particularly around sheet moving in the up the value chain and expanding our offering and galvanizing and paintings, again in the coming days you will see another announcement very -- we are very excited about that will continue to move us in that direction and again providing a better rounding out of that value-added in our sheet products businesses. We are going to make sure we take care of and service our customers. You mentioned you are hot band exposure in right now, we are looking at historically wide spreads between hot rolled and value-added products. Thank you. As of 12/31/18, this particular employee is 40% vested, and therefore, entitled to $400 of the $1,000 balance. I think there's three things of Nucor's touched on over really the last year. In that, as we reinvest in our infrastructure, we do so with steel produced in America the highest quality cleanest deal possible. That value will continue to increase. It's just a very solid demand picture. The limit on employee elective deferrals (for traditional and safe harbor plans) is: $22,500 in 2023 ($20,500 in 2022, $19,500 in 2021 and 2020; and $19,000 in 2019), subject to cost-of-living adjustments. So we begin from a platform of great strength and again a commitment to be even stronger and even cleaner. So that will be a small headwind. 92% Akamai Technologies Earnings Sell-Off. 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. It's eight word, is to grow core, expand beyond and live our culture. Like Nucor I will start off and thanks for the question. We look forward to continuing to offer Econiq to more customers, and of course, lower greenhouse gas emission steel across our product portfolio. 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? Nucor net profit margin for the three months ending December 31, 2022 was . You have much to be proud of. 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. 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. And finally to our shareholders, we are proud of the record returns provided in 2021. 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. So if we translate that, you can start with some earnings number when you filter to what assumptions you make around that. Jim anything you would add? We started went up at Gallatin the year before that. Maintenance capital spending for equipment replacement spares and cost savings projects accounts for the roughly 25% remaining. Established in 1985, the plan covers all the employees of Nucor, a US steel producer. In November, we increased the capacity by $250 million and extended the maturity date to November of 2026. Looking at 2021 as a whole we said several other financial records. We have done things that many in our industry have not. We are very, very excited. 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. 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. 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. We remain well capitalized with excellent liquidity. 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. Cumulative EBITDA already exceeds the investment outlays for the Gallatin galvanizing line and the Ohio rebar mill modernization. And we had very few customers that chose not to renew, isn't that correct. Thanks Seth. 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 . We have got one project that we are going to be closing out soon and that's on the CSI project, but it's not as big as the combined things we did last year by large amount and there could be other things coming. Auto is still down. Stock Bonus. 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. 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. In this case, a portion of the distributions would be tax-free. 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 Turning to the outlook. Currently, Nucor is trading at 12.4x next year's earnings and a dividend yield of 3.4%. Yeah. Make no mistake. Eventually, all companies would want to have a consistent positive and growing net income, so that this can be used for various purposes Better than expected results for the month of December were achieved across a broad group of businesses. 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. $165.815 USD. 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.. The second and very important data set we look at is our customers per say. Our team delivered incredible financial and operating results over the course of the year, while working safely and responsibly. View which stocks are hot on social media with MarketBeat's trending stocks report. If you are a stockholder of record (i.e., your shares are registered in 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. So integration to us, we look at that leadership and entered an existing company and we evaluate that fit as well. Do you want to talk about that at all? For the full year of 2021, they generated EBITDA totaling $674 million. We have got two virtual power purchase agreements today that because of our balance sheet allow us to be able to do those things. 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. So, I'll go back and read our earnings releases that we published about each of the major projects and see that data. 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. More related 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. 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. So as we look across our broad portfolio of downstream products it's a really solid quoting activity that's ongoing. 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. Last year's number was about $865 million, this year is going to be just north of a $1 billion. Satish l will start us off and maybe Jim or Rex Query, EVP of our Sheet Group can touch on the Gallatin expansion. It'll be much closer to zero. 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. 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? 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. (RTTNews) - Nucor Corp. (NUE) reported earnings for its fourth quarter that increased from last year and beat the Street estimates. Deferral limits for 401 (k) plans. WebNucor gross profit for the quarter ending December 31, 2022 was $2.097B, a 40.47% decline year-over-year. Thank you and have a great day. We will take our next question from Seth Rosenfeld with BNP Paribas Exane. This represents another new quarterly record for our company. Timna, one thing I would add to that is, to keep in mind, we are a bit more hot band centric than some of our competitors and that's where most the imports have come in. Is the 49% Dividend Yield for ZIM Integrated Shipping For Real? 326 E 8th St #105, Sioux Falls, SD 57103 Our quarterly dividend is now about 30% higher than it was in 2018. We continue to see solid seasonal adjusted quoting activity. 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. So as those mill to generate the returns and the EBITDA and the margins, we make sure we reinvest for the long term and all of those assets. But end market demand remains strong. Thank you for your interest in Nucor.