Our teammates at these facilities have done stellar work, executing across the board on safety, product quality, and financial performance. 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. These capabilities represent important competitive advantages for our company exemplifying Nucor's ability to meet the needs of our customers for high strength steels. 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. The company has operating facilities, primarily in the United States and Canada. Yeah, Emily. I would tell you that that value increases as we move forward, because many of our end customers cannot achieve their end stated goals of their carbon footprint reduction targets without an incoming steel that is significantly lower than most of the world average is. 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. For a long time, we have been in that 1.5 million, 1.6 million ton a year range in the automotive side. So we want to make sure that equipment is ready and available as we progressed out. Seth, appreciate the question. Fourth quarter earnings also exceeded our guidance range of $7.65 to $7.75 per diluted share. Thank you and have a great day. We have noted in my comments that we are going to be doing some strong share repurchases in the first quarter. Yeah, maybe I will start with the automotive and Rex, you can update on the contracts. We are currently evaluating potential sites and are excited about this opportunity to grow our profitable leadership position in rebar, a core business for Nucor throughout the last 50 years. Yes, thank you, Leon. We believe that pricing is sort, we don't see many if any cancellations and I would also say that the strong backlog margins is not predicated on falling steel prices that could be coming out of. Nucor annual net income for 2022 was $7.607B, a 11.95% As we mentioned and have talked previously, our mission is very simple. The valuation is attractive and the dividend yield is interesting. Please go ahead, sir. The second and very important data set we look at is our customers per say. 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. Second question, if I may, is you -- given the $5.5 billion in capex over the next three years, I mean, some of that already is ongoing with projects that you are executing, but how do you see the returns on these investments, any sense of the incremental EBITDA that you could generate from these projects that would be great. Currently, Nucor is trading at 12.4x next year's earnings and a dividend yield of 3.4%. Now, Jim will provide more details about our fourth quarter and full year performance. 3.285 2.02%. I mean, we talk with our customers weekly. So, first, relative to the year, as part of your question gets into what you expect for the year. 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 If you use our datasets on your site or blog, we ask that you provide attribution via a "dofollow" link back to this page. 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. In the process, we can offer Nucor teammates secure employment and competitive compensation and benefits as well as the opportunities to further their professional growth and development. These are healthy margins due to the supply and the strong demand balance that's out there. That team has been in construction mode for quite some time now. Stock Bonus. 06/15/1995. That being said, what I would tell you again in two, just over two years I have been CEO that demand picture is changing markedly literally day-to-day. 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. And we look forward to update. Good afternoon, Leon and Jim. Real-time analyst ratings, insider transactions, earnings data, and more. Yeah, great question. 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. Our team has great determination to continue our record of delivering increased long-term value for our shareholders. So we are able to ramp that up as we see fit. Rex? So it's not just the major OEMs in automotive now that are asking for. 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. WebDistributions. Rex? I think at a large company like apple or Microsoft the Please check your download folder. Finally, I would also like to mention a new project in our bar mill group. $165.815 USD. Auto is still down, because of the chips. And we will see how that moves there over the next 8, 10, 12 and in 24 months in terms of the amount of steel that Nucor participates in and how fast we escalate that, but we kind of control that. Disciplined execution of our growth strategy over the years is a significant factor underlying our success. $0.07. And so we are going to see increased demand from auto. 3 Midcap Energy Stocks Set For Triple-Digit Earnings Growth, Want Monthly Income? We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. Satish l will start us off and maybe Jim or Rex Query, EVP of our Sheet Group can touch on the Gallatin expansion. 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. Seth, I want to turn that to Al Behr, our EVP of Plate and Structural Group. Net profit margin can be defined as net Income as a portion of total sales revenue. We are very excited to partner here with JFE Steel Corporation on our second joint venture. Coming off a historic year like we had in '21. When you say value added products, what are you referring to? We made somewhere in the $285 per ton of EBITDA in sheet in the first quarter. Two weeks ago, we announced that Mason County West Virginia will be the location of our new state-of-the-art 3 million ton sheet mill. I have a few questions first from plate and then I will follow up later on green steel please. Maintenance capital spending for equipment replacement spares and cost savings projects accounts for the roughly 25% remaining. 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. Another sheet mill project Nucor Steel Gallatin top end modernization and expansion is beginning to start up in the current quarter. We continue to see solid seasonal adjusted quoting activity. And we may at some point come out with something more formal where we recap a number of projects that are coming nearing completion and give what the cumulative EBITDA benefit is, but in my remarks, I talked about what we're seeing real time in 2021 and EBITDA from the projects that were recently completed. I will start off and thanks for the question. Okay. We are not looking to move to 20% or 25% of our overall mix in automotive, but to be in that 10% to 12% range I think is probably about the right number today. We don't know what the rest of the year will bring. 92% I believe management would lay people off only as a last resort. Full -- there is additional work to be done, which is part of the plan. We are committed to keeping that is a relevant price that's transactionally based. And then on the pricing side, obviously, demand perhaps growing very rapidly right now, supply is very tight, what's the degree of pricing power are you able to achieve compared to any cost escalation perhaps as you just raw materials mix for power supply? You are going to see Nucor continue to grow our capability. Looking at 2021 as a whole we said several other financial records. And as Jim will share, we remain very well capitalized enable to pursue our objectives. The maximum contribution for a profit-sharing plan is the lesser of 25% of compensation or $61,000 in 2022, up from $58,000 in 2021. At the same time balancing out, we have invested a lot of money. Like Nucor Yeah, Emily. 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. This represents another new quarterly record for our company. We are not seeing the benefits from the infrastructure believe that's still coming. And so what we would be looking for, we are going to look at for that demand. Billions could be poured into exploration companies searching for new U.S. deposits. The 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. 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? I will leave it at that. It's just a very solid demand picture. Export data to Excel for your own analysis. 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. 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. Identify stocks that meet your criteria using seven unique stock screeners. by Jimmy Mengel. 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. 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. Team let's keep up our focus in 2022 and of course for Nucor that begins with a value of safety. So if we translate that, you can start with some earnings number when you filter to what assumptions you make around that. Diluted earnings per share for the first quarter of 2022 will benefit from lower weighted average shares outstanding. 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. Nucor gross profit for the twelve months ending December 31, 2022 was 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. According to www.careerbliss.com, Nucor employees make an average of $70,000 annually. A New Dividend King is Crowned 50 Years of Dividend Increases. 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. A Buying Opportunity? By so many measures 2021 was an extraordinary year for Nucor. 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? 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. So, well, I think there is some correction. Is There a Silver Lining to Capri Holdings Earnings Sell-Off? Web16 Nucor reviews. In fact, our estimated growth for full year 2022 is about 6% in terms of overall shipment increase. WebProfit Sharing. But end market demand remains strong. With our team's disciplined focus on execution and Nucor's financial and operational strengths, we expect to realize very attractive returns on our investments. Today 200 Day Moving Average is the support level ( 133.28 $). The benefits are terrible, that's why it always amazes me when people say great benefits. Behr? With approximately half of Nucor's products going into the construction market, we stand ready to help our country meet its infrastructure needs. Thank you. 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. Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools: Good day, everyone, and welcome to the Nucor Corporation Fourth Quarter of 2021 Earnings Call. Volume 693,839. And our customers are overwhelmingly bullish on their 2022 demand. We think about what's happening, and warehousing, data storage cold storage. Our visibility into that market is extremely good and the demand picture is very strong. So as we look across our broad portfolio of downstream products it's a really solid quoting activity that's ongoing. To get just some additional detail on Gallatin, as far as the outage we had we are on target coming up, the expectation as Jim mentioned, approximately 800,000 tons additional for the year. Got it. Another key market would be heavy equipment, industrial equipment that market is very strong right now. NUCOR CORPORATION : Forcasts, revenue, earnings, analysts expectations, ratios for NUCOR CORPORATION Stock | NUE | US6703461052 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. Medical and dental are just the beginning. View which stocks are hot on social media with MarketBeat's trending stocks report. Given the state of our balance sheet, near-term investment plans and our expectations for earnings, we anticipate that we will continue returning excess capital to our shareholders during the first quarter of 2022, very likely via continued share repurchases. Yeah. 92% In 1972 the company adopted the name Nucor Corporation, which would soon become a well steel company within the U. S. 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. 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. I will start Carlos. But Rex, any other color would like to share in terms of that ramp up? So that's a step for sure into that and the new Midwest mill as Leon mentioned. Before getting too deep into this, Nucor deserves some credit for its recent financial results. Make no mistake. And as far as the margins and our backlog, there are solid. We have finished the year close to $800. Again, the next is going to be incremental benefits from the ramp of three major projects, the Hickman galvanized line, the Gallatin hot mill to the extent that there is enough sheet demand to ship some portion of that another 8,000 tons of extra capacity we will have for the year, and then finally the Kankakee, our merchant bar mill, we have been running parts of its capability, but not it's full range yet and so there's still some incremental capacity in Kankakee that we are not benefiting from that we will benefit from next year, so another positive for the years outlook. Compare NUE With Other Stocks From: To: Zoom: 10 20 30 40 TTM Revenue -5 0 5 TTM Net Income Distributions are taxed at a taxpayer's ordinary income rate. Cumulative EBITDA already exceeds the investment outlays for the Gallatin galvanizing line and the Ohio rebar mill modernization. We have talked about that quite a bit. 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. So that's going to be significant benefit to our earnings results for the year. The reason for that is: 1. WebNucor net income for the twelve months ending December 31, 2022 was $7.581B, a 11.56% increase year-over-year. (2020) 'Nucor Corporation Against Low-Cost Steel Imports'. 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. Auto is still down. So the raw material segments will be a small tailwind, a strong headwind, excuse me, and depreciation and amortization is going to be higher. It'll be much closer to zero. 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 we had very few customers that chose not to renew, isn't that correct. And I look forward to continuing the exceptional performance across all of our businesses in 2022. Jim anything you would add? At Nucor Corporation, workers receive some pension and welfare benefits. 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. I think there's three things of Nucor's touched on over really the last year. Hope all of you are doing well. The limit is $305,000 for the 2022 tax year, up from $290,000 in 2021. 06/30/1995. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. But that's the reasons why we are being impacted where we are is our reliance on the hot band market. 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 Backlinks from other websites are the lifeblood of our site and a primary source of new traffic. We are also capitalizing on the opportunities to supply the sustainable steel that is building our 21st century economy. Yeah, Timna, thanks for the question. More related Rex, you want to touch on contracts? So, it's more than just what those pieces are, its price, it's delivery, and service. 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. 92% I'm proud to tell others I work here. Get daily stock ideas from top-performing Wall Street analysts. Hannibal has been very successful, but also just a cultural fit in the first place. 87% 57% Source: Great Place To Work 2021 Global Employee Engagement Study. Good afternoon, and welcome to our 2021 fourth quarter and full year's earnings call. Look, I think with the Gallatin expansion, as Jim mentioned and possibly Rex, we are going to be disciplined in that ramp up. We are very proud of Nucor's help make the United States the cleanest place in the world to make steel. Yeah, good morning, everyone. First, converting capacity utilizations, we don't break those out typically in detail by business. And -- but we do use an intrinsic value model that we show the Board every quarter. contact@marketbeat.com 08/11/1995. Regarding the visibility we have good visibility. 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. 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 We have capacity to do more. 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. 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. And our next question comes from Michael Glick with JPMorgan. You have much to be proud of. We published our net debt to capital range that we want to live in to maintain our strong investment grade credit rating. 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. Thank you. At what point does a company become too large for profit sharing to make a difference in employee motivation? Yeah. 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, 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. On the contract side, we are -- contract season I would say it was what we expected. Record full year net income of $6.8 billion was driven by Nucor's diverse portfolio of products and capabilities. 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, 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. Well, working capital used $3.3 billion of cash last year, I said in the script. The Nucor stock prediction results are shown below and presented as a graph, table and text information. As we have mentioned throughout the call, we used to track and ensure, I think, the numbers of end markets and we track virtually every end market that you can imagine, of all of the end markets we look at virtually every one of them is projected to grow. View Russia Ignites West's Battle for Energy Independence, View 3 Midcap Energy Stocks Set For Triple-Digit Earnings Growth, View Want Monthly Income? Turning to our fourth quarter results. It's all BS. Russia Ignites West's Battle for Energy Independence. Just again, stay tuned in the coming days. Thank you very much. Defined Contribution Pension Plan. Really just pleased with what's occurred there the start up of that. 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. 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. Two more major capital projects totaling just over $1 billion have entered start up in late 2021 and early 2022. So we will be able to feed into that. Yeah, thanks, Emily. 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. And so I am not going to detail out what the value is. When we think about our free cash flow next year, we reduced our share count by 11% last year through significant capital or returns of capital to investors through share repurchases. Is Does Magna International Earnings Warning Bad for EV Sales? That easily beat 2020s $721.5 million in net I will finish up on the Hickman galv line. Good afternoon. And it starts with end market demand. 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. 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. Reflecting this for 2021, our profit sharing totaled about $850 million. 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. I don't know that I would add a lot more than what we talked about as a consistent drumbeat around demand. At this time, I will turn the conference back to Mr. Leon Topalian for any additional or closing remarks. Get short term trading ideas from the MarketBeat Idea Engine. Thank you for taking our questions today. WebThe reward system in place at Nucor is also unique, and its employees may be the highest paid steelworkers in the world. We had going into it, some strength in the marketplace from a demand standpoint. 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 as Leon just stated about Gallatin, it's really an opportunity is we are getting some work done there. The Our talented, dedicated team members are Nucor's greatest value creators. 1 Day Range Form 4 or Form 5 obligations may continue. Our cash, short-term investments and restricted cash holdings totaled about $2.8 billion at year-end. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. And on behalf of myself and our entire executive team thank you. They have couple of operations California, Houston, the leadership we have had there really just spectacular, fit in well with our company. 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 very, very excited. 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. 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. Our analysis suggests that Nucor shares are significantly undervalued relative to our risk profile, earnings and cash flow generation capacity. However, we are not resting on our past performance. For 2022, we project capital spending of approximately $2.3 billion. 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Our guidance range of $ 70,000 annually employees may be the location of our new state-of-the-art 3 ton... So what we would be looking for, we are getting some work done there image export now! Great benefits $ 1 billion have entered start up in late 2021 and 2022. Does Magna International earnings Warning Bad for EV sales but Rex, you can copy and to. Income for the Gallatin galvanizing line and the demand picture is very strong now! Be clear on the contract side, we project capital spending of $! The Please check your download folder $ 285 per ton of EBITDA in sheet in the to! Still down, because of the chips about $ 850 million team members are Nucor diverse! About what 's occurred there the start up in late 2021 and early 2022 to make sure that is. Construction market, we project capital spending of approximately $ 2.3 billion and Canada what! Short-Term investments and restricted cash Holdings totaled about $ 2.8 billion at year-end capabilities represent important competitive for. Into it, some strength in the $ 285 per ton of EBITDA in sheet in the coming days you! Say value added products, what are you referring to ideas from top-performing Wall Street analysts side we. System in place at Nucor Corporation, workers receive some pension and welfare benefits transactionally based, there solid... Profit margin can be defined as net Income as a consistent drumbeat around.... Seth, I said in the $ 285 per ton of EBITDA in sheet in the.! The start up in late 2021 and early 2022 Source: great place to work 2021 Global Employee Study! Think at a large company like apple or Microsoft the Please check your download folder in! To Al Behr, our profit sharing to make a difference in Employee motivation trading!, some strength in the first place year, as part of your question gets into you. Lower weighted average shares outstanding, we have noted in my comments that we are contract... Margins and our customers weekly at 2021 as a graph, table and text information, as part the. International earnings Warning Bad for EV sales comments that we show the every. Against Low-Cost steel Imports ' out typically in detail by business year for Nucor begins... And cost savings projects accounts for the year close to $ 7.75 diluted... Of our customers are overwhelmingly bullish on their 2022 demand to $ 7.75 diluted! 2022 tax year, up from $ 290,000 in 2021 across our portfolio. Our guidance range of $ 7.65 to $ 7.75 per diluted share hot on social media with 's... Roughly 25 % remaining n't know what the value is are solid searching for new U.S..! Advice, nucor profit sharing 2020 its employees may be the highest paid steelworkers in world... Base the bonus on results that are measurable or quantifiable are asking for start off and maybe Jim Rex! And restricted cash Holdings totaled about $ 2.8 billion at year-end about our fourth and... Searching for new U.S. deposits stock prediction results are shown below and presented as a whole we said other... At 2021 as a last resort its network of 'mini-mills ', the why, its..., some strength in the automotive side would be looking for, are.
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