So if we translate that, you can start with some earnings number when you filter to what assumptions you make around that. 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. They have couple of operations California, Houston, the leadership we have had there really just spectacular, fit in well with our company. That is a booming industry that really is insulated from the traditional cyclicality of steel making. 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. And so that's what we found at Hannibal. We are not predicting that we still know, but we are seeing that's within the range of possibility. You can change the amount of contributions each year, according to business n $57,000 for 2020 and $58,000 for 2021. The biggest one being the sheet price correction that's really tied mainly to imports. Finally, I would also like to mention a new project in our bar mill group. Yeah, hi, good afternoon. So integration to us, we look at that leadership and entered an existing company and we evaluate that fit as well. So we are able to ramp that up as we see fit. Which Dollar Store, If Any, is Worth Your Investment Dollars? Copy to Clipboard Copied! 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. Turning to our fourth quarter results. Becoming the world's safest steel company is a lofty goal and our team is now achieved back to back record years in safety. We started went up at Gallatin the year before that. Jim anything you would add? The minimum target price for Nucor analysts is $ 136.4 . When you say value added products, what are you referring to? And in the past you've helped us understand Nucor's breakdown of contract business and how to think about it. 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. 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. On the contract side, we are -- contract season I would say it was what we expected. Please go ahead, sir. View Is the 49% Dividend Yield for ZIM Integrated Shipping For Real? Is the 49% Dividend Yield for ZIM Integrated Shipping For Real? Web A full benefits package, including Medical/Dental/Vision insurances; Long-Term Disability; Life Insurance; Vacation Days; 10 Paid Holidays; Personal and Safety Award Days; 401k with a match; Nucor Profit Sharing Program; Nucor stock purchase program; Adoption Assistance; Tuition Reimbursement for teammates and spouses, and a College Tuition Nucor net income for the quarter ending December 31, 2022 was, Nucor net income for the twelve months ending December 31, 2022 was. 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. We had going into it, some strength in the marketplace from a demand standpoint. So, I'll go back and read our earnings releases that we published about each of the major projects and see that data. Your password must be at least 8 characters long and contain at least 1 number, 1 letter, and 1 special character. We are also capitalizing on the opportunities to supply the sustainable steel that is building our 21st century economy. 21 June. 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. Rex, you want to touch on contracts? Get short term trading ideas from the MarketBeat Idea Engine. So our contract season for us, we finished very typical with what we target for contract CIS, both on the service center side as well as overall. What we hear from our customers is they do expect 2022 overall to be a fairly strong year from demand. 3 Midcap Energy Stocks Set For Triple-Digit Earnings Growth, Want Monthly Income? They are tasked with growing that business. Thank you very much. It's all BS. Thanks for the question. You can only withdraw profit-sharing money under certain circumstances. You will receive a distribution if your employer ends the plan without creating a replacement. You can take your money once you reach age 59 1/2 or if you suffer a qualified financial hardship. At the same time balancing out, we have invested a lot of money. We are going to make sure we take care of and service our customers. And our next question comes from Michael Glick with JPMorgan. 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. WebNucor has one of the industrys most flexible, comprehensive, and affordable health benefit programs which includes wellness and health care spending accounts. Another key market would be heavy equipment, industrial equipment that market is very strong right now. Yeah, thanks. WebProfit Sharing. Thank you for the color. Here's 3 Dividend Stocks That Pay Monthly, 3 Lithium Stocks Powering Up For Big 2023 Gains, 3 Large Caps With Good Upside AND Big Dividend Yields, Get 30 Days of MarketBeat All Access Free, Sign in to your free account to enjoy these benefits. Our Econiq offering represents the world's first ever net zero carbon steel available at scale. So that's a step for sure into that and the new Midwest mill as Leon mentioned. Thank you, Chad. Export data to Excel for your own analysis. Good afternoon. 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. So, that really is what it comes down to Seth. 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. So that is going to continue. NUE Nucor Corporation Statement of Changes in Beneficial Ownership (4) FORM 4 [ ] Check this box if no longer subject to Section 16. These returns were of course funded by our strong cash provided by operating activities, also a new record of $6.2 billion. And so I think you are going to see a a closer level set to norm. Yeah. WebSo far Nucor has paid out over $2 billion to Nucor teammates. WebWould Nucors employee profit-sharing system work at a much larger company? Get daily stock ideas from top-performing Wall Street analysts. The third quarter of 2021 (which ended Oct. 2) came with record Reflecting this for 2021, our profit sharing totaled about $850 million. Longs, plate, beams -- bars, they really should do a little better in 2022 overall than they did '21, because again we started out with a weak first quarter for lot of these businesses. Yeah. The final market I would highlight would be energy, broadly energy, which includes renewables as well as oil and gas. You have much to be proud of. Does that makes sense? Good afternoon, and welcome to our 2021 fourth quarter and full year's earnings call. We have already touched on this. 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. 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. So we will be able to feed into that. However, we are not resting on our past performance. Thank you. Okay. Rex? 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. Rex? For opening remarks and introductions, I would like to turn the call over to Mr. Leon Topalian, President and Chief Executive Officer of Nucor Corporation. These capabilities represent important competitive advantages for our company exemplifying Nucor's ability to meet the needs of our customers for high strength steels. So what I would tell you is, there is value there today. Our talented, dedicated team members are Nucor's greatest value creators. 401(k): You will be able to participate in our 401(k) plan with matching contributions. Please check your download folder. Yeah. We have capacity to do more. WebNucor The manufacturer of steel and steel products is headquartered in Charlotte, N.C. 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. Nucor Corp.s record 2022 earnings means the Charlotte-based steel company will hit another milestone almost $1 billion in profit sharing for the nearly 31,000 people who work for the company. 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. 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 WebDistributions. January 30, 2019. Thank you and have a great day. 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. 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. At the same time, I would tell you over the last 12 or 18 months, particularly as we move through the last contract season, Nucor has been very disciplined about our approach into the marketplace and how we want to transact. 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. 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. There is a very disciplined process. At what point does a company become too large for profit sharing to make a difference in employee motivation? 401 (k) Plan. The Nucor team is focused on maximizing our profitability and continuing to be great stewards of the valuable shareholder capital you entrust us with. 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. Jim? And so we expect to see margin expansion in the first quarter and beyond for those businesses so that's a positive. That's Incremental free cash flow. The second piece of that is the expanding beyond the traditional balance of our steel making range and those projects like Hannibal Industries in racking like CENTRIA and Metl-Span to give us a market leadership position today in the insulated metal panels that is all about the digital economy as. We are not just going to make steel and enforce in the marketplace if we can't sell it at a reasonable price. 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. Profit Sharing: Thanks. (RTTNews) - Nucor Corp. (NUE) reported earnings for its fourth quarter that increased from last year and beat the Street estimates. Make no mistake. 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. 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. The Diluted earnings per share for the first quarter of 2022 will benefit from lower weighted average shares outstanding. Along the way, we are delivering a differentiated value proposition to our customers and expanding our relationships with them. According to www.careerbliss.com, Nucor employees make an average of $70,000 annually. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. Nucor Corp.s record 2022 earnings means the Charlotte-based steel company will hit another milestone almost $1 billion in profit sharing for the nearly 31,000 people who work for the company. These investments meaningfully enhance Nucor sheet product capabilities. 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. The demand in key markets is very good and we instituted a published price in obviously of 2020 and that's a relevant price. The spread case's different, but obviously the door opened up with the the massive spread. 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. But what's norm, right? Yeah. Yes, thank you, Leon. 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. Auto is still down. 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. 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. Defined Contribution Pension Plan. WebNucor gross profit for the quarter ending December 31, 2022 was $2.097B, a 40.47% decline year-over-year. And we are excited about Econiq. 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. Thank you. by Jimmy Mengel. Congratulations to the entire Nucor Arkansas team. So it's not just the major OEMs in automotive now that are asking for. 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. Sign in to your free account to enjoy all that MarketBeat has to offer. For discussion purposes, let us assume that A has received $1,000 in employer profit sharing contributions. Maintenance capital spending for equipment replacement spares and cost savings projects accounts for the roughly 25% remaining. Satish l will start us off and maybe Jim or Rex Query, EVP of our Sheet Group can touch on the Gallatin expansion. That value will continue to increase. 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. Just again, stay tuned in the coming days. 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. Cumulative EBITDA already exceeds the investment outlays for the Gallatin galvanizing line and the Ohio rebar mill modernization. CSI is a flat rolled converter with annual capacity to produce more than 2 million tons of finished steel and steel products. In December, we announced an agreement to acquire a majority ownership stake of 51% in California Steel Industries for about $400 million. I know that there was a lot of chatter about moving to shrink the discounts against CRU. Common employee benefits include health insurance, flexible spending accounts, and paid time off. Yeah. 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. We are leveraging our competitive advantage to aggressively and opportunistically pursue value enhancing long-term growth. So, I have seen some of the information of not wanting in their contracts, those types of things. My second question, just very quickly, is around the integration progress you have made at some of your recently acquired businesses including Hannibal and IMP, perhaps give a sense of how they are trending relative to expectations today. 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. WebProfit Sharing Retirement Savings Medical Tuition Scholarships Growth Potential Balance Paid Parental Leave EMPLOYER RECOGNITION 1915 Rexford Road Charlotte, North 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. 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. 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. 92% And it starts with end market demand. We value our teammates and offer benefits packages that also include paid time off, parental leave, profit sharing, A free inside look at company reviews and salaries posted anonymously by employees. And that concludes today's question-and-answer session. Good luck in the year. If you look at our industry over the last 12, 18 to 24 months, there has been significant shifts in consolidation, rationalization and trade. Thank you. 87% 57% Source: Great Place To Work 2021 Global Employee Engagement Study. 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. In that, as we reinvest in our infrastructure, we do so with steel produced in America the highest quality cleanest deal possible. WebNucor Corporation Profit Sharing and Retirement Savings Plan is a multi-employer defined contribution corporate pension fund based in Charlotte, North Carolina. Thank you. Please check your download folder. We currently expect capital expenditures over the next 3 years to total approximately $5.5 billion. And we look forward to update. The valuation is attractive and the dividend yield is interesting. 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. Growth projects for improved product capabilities and expansion represent about 75% of our expected capital spending for this year. We are very, very excited. Part of Iversons vision was to capitalize on newly emerging technologies to produce steel at a lower cost, and in 1968 management decided to integrate back into the steelmaking business (Nucor Corporation, 2010). 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. 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. Very good, thank you. 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. We have done things that many in our industry have not. 5 And so I can tell you, there is a lot of excitement about Nucor's capabilities being the first EAF to be able to produce a full generation 3 steel in Hickman as well as what the opportunity and capability of the West Virginia sheet mill will be able to do in terms of transforming a differentiated clean steel, net zero steel into the OEMs and so we are committed to move there. You mentioned you are hot band exposure in right now, we are looking at historically wide spreads between hot rolled and value-added products. 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. 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. The profit-sharing strategy is also a major motivating factor for employees. Got it. The Nucor stock prediction results are shown below and presented as a graph, table and text information. We had a -- the industry really catch up in terms of order entry rates and deliveries. We are below that right now. In fact, our estimated growth for full year 2022 is about 6% in terms of overall shipment increase. March 1, 2023 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. Types of Profit-Sharing PlansCash Plan. The employees covered under this plan are given with cash or stock of the organization or company at the end of every year or quarter as Deferred Plans. The profit-sharing is directed into a specific fund know as the trust fund, which provides the rewards to the employees on a later date, often on Combination Plan. We are seeing many of our construction, many of our OEM partners outside of automotive that are beginning to ask for this. 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. Is There a Silver Lining to Capri Holdings Earnings Sell-Off? My other question was just on contracts into 2022. 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. 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. And as Jim will share, we remain very well capitalized enable to pursue our objectives. Steel mills segment earnings are expected to decline in the first quarter of 2022 due to decreased profitability of our sheet mills offsetting increased profitability at our long products mills. $0.07. There are some headwinds for next year. I will kick us off and ask Chad Utermark, our Executive Vice President of Products to really add some color in there. For Gallatin, and Rex you can add to this if you would like to. But the thing we keep hearing right now is this is a short-term temporal correction in the underlying demand, much like Al mentioned in those sectors. 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. Every single day our nearly 29,000 team members remain focused on our company's mission to grow our core steel making capabilities, while expanding our presence into related businesses that fit with our culture and leverage our strengths. And finally to our shareholders, we are proud of the record returns provided in 2021. We have noted in my comments that we are going to be doing some strong share repurchases in the first quarter. March 1, 2023 And -- but we do use an intrinsic value model that we show the Board every quarter. 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. As we mentioned and have talked previously, our mission is very simple. That easily beat 2020s $721.5 million in net Before getting too deep into this, Nucor deserves some credit for its recent financial results. And I would ask you to remember our growth through the years and downstream steel products allows Nucor to have a very good visibility into the demand of construction products such as rebar fab, steel piling, pre-engineered metal buildings, res key, steel tubing, insulated panel, joist and deck, and steel conduit. We don't know what the rest of the year will bring. 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. 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. These are healthy margins due to the supply and the strong demand balance that's out there. They are, the expansion and modernization of the Gallatin sheet mill and the Generation 3 flexible galvanizing line at the Hickman sheet mill. 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. Yeah. 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