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. Maintenance capital spending for equipment replacement spares and cost savings projects accounts for the roughly 25% remaining. 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. So firstly you could comment as to how you see capacity utilization in your different key products, particularly in Q1 and maybe how you see the progression into Q2 and the second half of the year if you have visibility given your with your backlog? Before getting too deep into this, Nucor deserves some credit for its recent financial results. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. We are also capitalizing on the opportunities to supply the sustainable steel that is building our 21st century economy. Certain statements made during this conference call will be forward-looking statements that involve risks and uncertainties. Finally, I would also like to mention a new project in our bar mill group. So, first, relative to the year, as part of your question gets into what you expect for the year. I think there's three things of Nucor's touched on over really the last year. Export data to Excel for your own analysis. Our visibility into that market is extremely good and the demand picture is very strong. 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. On December 16th, our Nucor Steel Arkansas Sheet Mill produced its first prime coil from its new generation 3 flexible galvanizing line. Today that's over a 110. If you think about just five years, six years ago, we had about 55 cases that were one in carbon steel. Thank you for your interest in Nucor. You have much to be proud of. What benefits are offered to employees? Press Tab to Move to Skip to Content Link Thanks Seth. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. Russia Ignites West's Battle for Energy Independence. Hey, a couple of questions on the market. Our crystal ball gets pretty fuzzy when we look out very much past the next month or so. Growth projects for improved product capabilities and expansion represent about 75% of our expected capital spending for this year. 21 June. 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. For discussion purposes, let us assume that A has received $1,000 in employer profit sharing contributions. Adding this amount to teammate profit sharing over the course of the last five decades Nucor's This will be Nucor's third rebar micro mill joining micro mills in Missouri and Florida that begin operations in 2020. We are leveraging our competitive advantage to aggressively and opportunistically pursue value enhancing long-term growth. 3.285 2.02%. 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. A Buying Opportunity? Now, Jim will provide more details about our fourth quarter and full year performance. We averaged $560 per ton in sheet last year. 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. I guess there are no other employers in their areas. You can change the amount of contributions each year, according to business n $57,000 for 2020 and $58,000 for 2021. Please go ahead, sir. 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. So that's going to be significant benefit to our earnings results for the year. 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. And as far as the margins and our backlog, there are solid. Back to NUE Overview. If you use our datasets on your site or blog, we ask that you provide attribution via a "dofollow" link back to this page. Okay. 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. And as Jim will share, we remain very well capitalized enable to pursue our objectives. 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. 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. 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. We currently expect capital expenditures over the next 3 years to total approximately $5.5 billion. For 2022, we project capital spending of approximately $2.3 billion. 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. Automotive is going to be significant portion of what we look for in that business for that. So we are able to ramp that up as we see fit. We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. If you, the employer, make contributions to a profit sharing plan, you can deduct up to 25 percent of 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. Thank you. WebProfit Sharing. Better than expected results for the month of December were achieved across a broad group of businesses. Nucor's liquidity also includes our undrawn $1.75 billion unsecured revolving credit facility. And so what we would be looking for, we are going to look at for that demand. Rex, you want to touch on contracts? Capital spending is only going to be up in the neighborhood of $700 million based on what we see today. That's Incremental free cash flow. WebDistributions. So, I'll go back and read our earnings releases that we published about each of the major projects and see that data. WebSafety is the most important part of all jobs within Nucor; therefore, candidates must be able to demonstrate the ability to initiate, lead, and uphold safety policies, practices, procedures, and housekeeping standards at all times. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. 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. 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. Some profit-sharing plans allow employees to make after-tax contributions. These returns were of course funded by our strong cash provided by operating activities, also a new record of $6.2 billion. Thanks for taking the question. 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. 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. 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. 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. Stock Bonus. Congratulations to the entire Nucor Arkansas team. So that's a step for sure into that and the new Midwest mill as Leon mentioned. Nucor Corporation is a leading producer of structural steel, steel bars, steel joists, steel deck and cold finished bars in the United States. CASH. 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. And our customers are overwhelmingly bullish on their 2022 demand. WebNucor Corporation Profit Sharing and Retirement Savings Plan is a multi-employer defined contribution corporate pension fund based in Charlotte, North Carolina. 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. Thank you for taking our questions today. 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. 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. 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. Jim? 92% 06/30/1995. WebRockledge Yard Laborer - FL, 32955. Hannibal Industries, our first step into the racking side, obviously we look for companies that are successful is our first approach for Nucor. We should see some strong tailwind from lower input cost, so just any color you can provide. The We have done things that many in our industry have not. Our team has great determination to continue our record of delivering increased long-term value for our shareholders. 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. 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? 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 mean, we talk with our customers weekly. 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. Putin's invasion of Ukraine has revealed the West's dependence on Russia for their energy needs. So you will see that growth occurring. 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. Nucor stock forecasts are adjusted once a day based on the closing price of the previous trading day. Adding this amount And I think there's two important areas to think about; one is what our earnings going to be; and one is what our free cash flow going to be and that's -- those are the things that I think interest you most. Secondly, you have touched on and others have touched on this already, we have got the largest downstream products businesses of any steel companies and there we are getting margin squeezed for all of last year and pricing is finally starting to catch up. In December, we announced an agreement to acquire a majority ownership stake of 51% in California Steel Industries for about $400 million. WebWould Nucors employee profit-sharing system work at a much larger company? These capabilities represent important competitive advantages for our company exemplifying Nucor's ability to meet the needs of our customers for high strength steels. Our expectation and our stated goals are to double that to around 3 million tons. 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. Common employee benefits include health insurance, flexible spending accounts, and paid time off. 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? 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. The statutory federal tax rate for corporate profits is 21 percent. 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. Nucor's product breadth continues to be a powerful driver of value creation through the cycle for both our customers and shareholders. WebNucor Corp. NUE (U.S.: NYSE) View All companies. 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. Is Stellantis Stock a Value Investors Dream? I have a few questions first from plate and then I will follow up later on green steel please. 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. And it's -- the heart of it is non-res construction biggest user steel, but we are still not benefiting yet. WebProfit Sharing Retirement Savings Medical Tuition Scholarships Growth Potential Balance Paid Parental Leave EMPLOYER RECOGNITION 1915 Rexford Road Charlotte, North Yeah. How much money do Nucor employees make? 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.. So if we translate that, you can start with some earnings number when you filter to what assumptions you make around that. That's the biggest question mark in your forecast for the year is what sheet does. And -- but we do use an intrinsic value model that we show the Board every quarter. Get daily stock ideas from top-performing Wall Street analysts. If you use our chart images on your site or blog, we ask that you provide attribution via a "dofollow" link back to this page. 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. WebNucor net income for the twelve months ending December 31, 2022 was $7.581B, a 11.56% increase year-over-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 Our cash, short-term investments and restricted cash holdings totaled about $2.8 billion at year-end. Along the way, we are delivering a differentiated value proposition to our customers and expanding our relationships with them. Good luck in the year. The forward-looking statements made in this conference call speak only as of this date and Nucor does not assume any obligation to update them either as a result of new information, future events or otherwise. 1 There are also limits on the amount of your pay that goes into figuring out contributions. In 1972 the company adopted the name Nucor Corporation, which would soon become a well steel company within the U. S. View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. We did not experience that as as a company. 5 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 Two more major capital projects totaling just over $1 billion have entered start up in late 2021 and early 2022. 92% I believe management would lay people off only as a last resort. We are very excited to partner here with JFE Steel Corporation on our second joint venture. Rex? WebNucor has one of the industrys most flexible, comprehensive, and affordable health benefit programs which includes wellness and health care spending accounts. Just like Rex said about Hannibal, but especially in the IMP space and Leon mentioned about that space and I want to actually to talk a little bit more about it, but we are excited about the Cornerstone IMP acquisition, the team that we now have. I will leave it at that. 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. 87% 57% Source: Great Place To Work 2021 Global Employee Engagement Study. We are very, very excited. In that, as we reinvest in our infrastructure, we do so with steel produced in America the highest quality cleanest deal possible. 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. CSI is a flat rolled converter with annual capacity to produce more than 2 million tons of finished steel and steel products. 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. Okay. Distributions from a profit-sharing plan are taxable income and must be reported on an individual's tax return. We are working diligently through the integration and on-boarding process. And if you think about Nucor's 55% return on equity, a large piece of that was attributable because of the sheet group. 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. Congrats again, and thank you. 06/28/1995. But end market demand remains strong. On the contract side, we are -- contract season I would say it was what we expected. Seth, I want to turn that to Al Behr, our EVP of Plate and Structural Group. 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. Thank you for the color. Yeah. 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 Year is what sheet does site: your image export is now complete to the year indices get. Value model that we published about each of the major projects and see that.. Solely for informational purposes, let us assume that a has received $ 1,000 employer... 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