Compare NUE With Other Stocks From: To: Zoom: 10 20 30 40 TTM Revenue -5 0 5 TTM Net Income 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. I hope you will agree that this is an impressive track record. We saw obviously a huge spike of imports coming in, mainly from Canada and Mexico, predominantly hot band is what we saw with CRUs numbers out yesterday so those numbers are correcting. And we had very few customers that chose not to renew, isn't that correct. 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. They are, the expansion and modernization of the Gallatin sheet mill and the Generation 3 flexible galvanizing line at the Hickman sheet mill. Make no mistake. 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. 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. 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. 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. We have much to look forward to as we progressed throughout this new year. Nucor stock forecasts are adjusted once a day based on the closing price of the previous trading day. Hey, a couple of questions on the market. Is There a Silver Lining to Capri Holdings Earnings Sell-Off? Switching to the plate market, our Brandenburg, Kentucky greenfield mill is on track to begin rolling its first steel plate product in the fourth quarter of this year with a capability to manufacture nearly all the different types of plate products consumed in the United States, Brandenburg will position Nucor as the supplier of choice in the domestic plate market, which includes applications in offshore wind, heavy equipment, construction and military. And I look forward to continuing the exceptional performance across all of our businesses in 2022. 08/11/1995. 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. Before getting too deep into this, Nucor deserves some credit for its recent financial results. A New Dividend King is Crowned 50 Years of Dividend Increases. Zoetis, Pet-Med Specialist, Double-Digit Earnings Growth Ahead, 3 Mid-Cap Earnings Plays to Watch This Week. Looking at 2021 as a whole we said several other financial records. 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. And we look forward to update. The benefits are terrible, that's why it always amazes me when people say great benefits. We have talked about that quite a bit. So as we look across our broad portfolio of downstream products it's a really solid quoting activity that's ongoing. I will stop there. And in the past you've helped us understand Nucor's breakdown of contract business and how to think about it. The profit-sharing strategy is also a major motivating factor for employees. 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. Retirement Savings Plan Invest today for what you plan to accomplish tomorrow, with matching contributions and 92% 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. 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. These include the Kentucky plate mill, the West Virginia sheet mill, the South Atlantic rebar micro mill, and Gallatin's tubular products facility. The Form 4 or Form 5 obligations may continue. 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. 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. We published our net debt to capital range that we want to live in to maintain our strong investment grade credit rating. Sign in to your free account to enjoy all that MarketBeat has to offer. 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. WebProfit Sharing. So that will be a small headwind. Full -- there is additional work to be done, which is part of the plan. The automotive sector that Jim Frias mentioned as well. Over the years, the company has grown through acquisitions as well as by tapping new markets and expanding geographically. Yeah. 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. Thank you and have a great day. Back to NUE Overview. And so we expect to see margin expansion in the first quarter and beyond for those businesses so that's a positive. Rex? There are some headwinds for next year. My other question was just on contracts into 2022. Coming off a historic year like we had in '21. 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. 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. Also, most of its operating facilities and customers are located in North America. Our next question comes from Timna Tanners with Wolfe Research. The U.S. invoked the Defense Production Act to jumpstart domestic mining and production of critical minerals such as cobalt, lithium, and rare earths, which the U.S. desperately needs for its military and green tech. 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. 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. Once the $400 is distributed to the employee, the residual $600 is forfeited and no longer due to A.. 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. 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? Putin's invasion of Ukraine has revealed the West's dependence on Russia for their energy needs. 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. So integration to us, we look at that leadership and entered an existing company and we evaluate that fit as well. For our team, the most important value is safety and so I'm incredibly pleased to report that 2021 was the safest year in our history. 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 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. Thank you. Yes, thank you, Leon. We have already touched on this. WebDistributions. To see all exchange delays and terms of use please see Barchart's disclaimer. Nucor had 16 divisions that went zero recordable injuries in 2021 and I look forward to the day when our entire company achieves that same goal. 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. We are very excited to partner here with JFE Steel Corporation on our second joint venture. by Jimmy Mengel. 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. Western countries are now scrambling for stable, renewable energy. Thank you. 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. That's very helpful. 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. On July 23, Nucor announced a profit of $109 million, or 36 cents per share, for its second quarter ending July 4, according to a company statement. 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