nucor profit sharing 2020

First, congrats on your first delivery to GM. Congrats on a strong set of financial results as well as the safety record. I think at a large company like apple or Microsoft the Yeah. 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. This represents another new quarterly record for our company. And that concludes today's question-and-answer session. We did not experience that as as a company. 87% 57% Source: Great Place To Work 2021 Global Employee Engagement Study. Over the years, the company has grown through acquisitions as well as by tapping new markets and expanding geographically. Yeah, hi, good afternoon. Backlinks from other websites are the lifeblood of our site and a primary source of new traffic. 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? Our team has great determination to continue our record of delivering increased long-term value for our shareholders. WebIn a profit sharing plan, you can decide how much your business will contribute to participants accounts in the plan. Thank you and have a great day. You have much to be proud of. Last year's number was about $865 million, this year is going to be just north of a $1 billion. Our daily ratings and market update email newsletter. That's 18% to 22%. That's the biggest question mark in your forecast for the year is what sheet does. If we think about the core of our steel making capabilities is the expansions up regional and capabilities. You mentioned you are hot band exposure in right now, we are looking at historically wide spreads between hot rolled and value-added products. Mike, I would tell you, I think the overall trend is you are going to see that gap shrink. For a long time, we have been in that 1.5 million, 1.6 million ton a year range in the automotive side. 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. The insulated metal panel space has been attractive to Nucor for a long time and we were excited back in 2019 to purchase a start-up company called TrueCore and we are equally excited to welcome the Cornerstone IMP team into Nucor. View which stocks are hot on social media with MarketBeat's trending stocks report. 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. Thanks for taking the question. Good afternoon, and welcome to our 2021 fourth quarter and full year's earnings call. So in March we will commission the EAF, LMF and the caster and by the end of March we will be capable of full production at that point with a wider strip and a thicker slab, but we are going to keep an eye on the market and will really measure that ramp up as we see what market conditions are doing at Gallatin. 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. So that is going to continue. WebNucor The manufacturer of steel and steel products is headquartered in Charlotte, N.C. WebNucor Corporation Profit Sharing and Retirement Savings Plan is a multi-employer defined contribution corporate pension fund based in Charlotte, North Carolina. 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? Retirement Savings Plan Invest today for what you plan to accomplish tomorrow, with matching contributions and Sign in to your free account to enjoy all that MarketBeat has to offer. All rights reserved. Congratulations to the entire Nucor Arkansas team. In 1972 the company adopted the name Nucor Corporation, which would soon become a well steel company within the U. S. There are some headwinds for next year. And as Leon just stated about Gallatin, it's really an opportunity is we are getting some work done there. Hope all of you are doing well. Okay. So, it's more than just what those pieces are, its price, it's delivery, and service. So, I have seen some of the information of not wanting in their contracts, those types of things. Turning to the outlook. And of course, we had a fairly robust M&A pipeline. 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. These projects represent an aggregate capital investment of just over $1 billion. 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. CASH. So as we look and analyze that demand from this broad non-res construction base, we are very excited about what 2022 holds. 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. So that's a step for sure into that and the new Midwest mill as Leon mentioned. But it's important to remember as well that's coming off a historic year. Again this -- again more recent transformation over the last two, three, four years and moving into a much more sustainable place, Nucor is, again, I think been ahead of the curve. So if we translate that, you can start with some earnings number when you filter to what assumptions you make around that. $165.815 USD. Diluted earnings per share for the first quarter of 2022 will benefit from lower weighted average shares outstanding. We will take our next question from Seth Rosenfeld with BNP Paribas Exane. Russia Ignites West's Battle for Energy Independence. There is a very disciplined process. So those would be our thoughts about how to think about the whole year from a big picture perspective. 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. 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. Yeah. 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. But again the outlook and the demand picture across every end market the Nucor serves remains very robust, and again, we think this is going to work through the inventory rebalancing and position us well as we move forward. It's going to be a pretty strong earnings number and we go to free cash flow. The new galvanizing line combined with Hickman's highly successful specialty cold rolling mill that's been in operation for more than two years uniquely positions our company among North American EAF steelmakers to provide the high strength lightweight steels that are increasingly in demand. Match could be better than it is. This will be Nucor's third rebar micro mill joining micro mills in Missouri and Florida that begin operations in 2020. 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. We are very, very excited. 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. 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. 08/11/1995. In that, as we reinvest in our infrastructure, we do so with steel produced in America the highest quality cleanest deal possible. Auto is still down. That value will continue to increase. These returns were of course funded by our strong cash provided by operating activities, also a new record of $6.2 billion. 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. We have noted in my comments that we are going to be doing some strong share repurchases in the first quarter. Those were key sectors. Is Stellantis Stock a Value Investors Dream? But that's the reasons why we are being impacted where we are is our reliance on the hot band market. 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. That's Incremental free cash flow. 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. On the contract side, we are -- contract season I would say it was what we expected. 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. Thank you. As most of you know, we are committed to first investing for profitable growth, while maintaining our strong investment grade credit rating and returning capital to our shareholders through cash dividends and share repurchases, a minimum of 40% of net income over time. Our next question comes from Timna Tanners with Wolfe Research. Thank you for the color. Do you want to talk about that at all? 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 Thank you very much. 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. The 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. Our next question comes from Carlos De Alba with Morgan Stanley. 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. 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. What we hear from our customers is they do expect 2022 overall to be a fairly strong year from demand. We have already touched on this. And I just in close in saying, hey, we welcome the Hannibal team and Insulated Metal Panel team to the Nucor family and again excited about the opportunities of those businesses will bring in the years to come. And -- but we do use an intrinsic value model that we show the Board every quarter. 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. Thanks for the question. World leaders must find new sources of minerals, such as copper, essential to their transition to energy independence. We have capacity to do more. WebNucor offers their employees a Profit Sharing Plan. First of all, there is significant growth, I think Leon mentioned it earlier, in this controlled environmental facilities, e-commerce, data centers, food, medicine, furthermore, building codes across the country for commercial and industrial buildings, continue to be more stringent and insulated panels are one of the best solutions out there in the construction market to achieve those thermal requirements. I will also comment on Hannibal and the racking that leadership team and that includes the existing there and the ones we have added from Nucor. Through its network of 'mini-mills', the company produces steel sheets, bars, plates as well as various structural and other products. Disciplined execution of our growth strategy over the years is a significant factor underlying our success. 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. On December 16th, our Nucor Steel Arkansas Sheet Mill produced its first prime coil from its new generation 3 flexible galvanizing line. The cumulative EBITDA generated by the Hickman specialty cold mill is nearing that project's capital investment. Net income can be defined as company's net profit or loss after all revenues, income items, and expenses have been accounted for. I have a few questions first from plate and then I will follow up later on green steel please. So sheet could still average at or above what they did last year based on what we are seeing today. 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. Good luck in the year. 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. In fact, our estimated growth for full year 2022 is about 6% in terms of overall shipment increase. Separate question please on Econiq for the green steel brand. 3.285 2.02%. Is There a Silver Lining to Capri Holdings Earnings Sell-Off? 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? At the same time balancing out, we have invested a lot of money. How should we think about that balance going forward in 2022 and perhaps what does the next chapter of your growth strategy look like? 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. In December, we announced an agreement to acquire a majority ownership stake of 51% in California Steel Industries for about $400 million. Yeah, Emily. So we begin from a platform of great strength and again a commitment to be even stronger and even cleaner. 326 E 8th St #105, Sioux Falls, SD 57103 By creating a free account, you agree to our, Home Depot Stock Earnings Slide, Long Term Value Still There, AbbVie Stock Still a Solid Buy Despite Challenges, 7 Cash Rich Stocks That Offer Safety in Any Market, The Best Strategy For Your Small Trading Account, 7 Battery Stocks That Will Make You a Millionaire by 2030. We are also expanding our presence in the Western U.S. So you will see that growth occurring. And so we are going to see increased demand from auto. 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. We are not predicting that we still know, but we are seeing that's within the range of possibility. 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. And in fact I would tell you we had more requests for increase volume. A New Dividend King is Crowned 50 Years of Dividend Increases. 401(k): You will be able to participate in our 401(k) plan with matching contributions. WebRockledge Yard Laborer - FL, 32955. Our analysis suggests that Nucor shares are significantly undervalued relative to our risk profile, earnings and cash flow generation capacity. Turning to our fourth quarter results. Thanks. However, we are not resting on our past performance. For all of 2021, Nucor reported net earnings of $6.83 billion, or $23.16 per diluted share, on $25.5 billion in sales. Distributions are taxed at a taxpayer's ordinary income rate. 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. 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. By executing operationally across our business lines and in parallel, investing in Nucor's future, we are generating attractive returns for our shareholders and positively impacting our local communities. Jim? So the supply chain got full very quickly and maybe some even some over buying. And our next question comes from Michael Glick with JPMorgan. Record full year net income of $6.8 billion was driven by Nucor's diverse portfolio of products and capabilities. Is the 49% Dividend Yield for ZIM Integrated Shipping For Real? 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. I will start Carlos. 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. Very good, thank you. Congrats again, and thank you. It's all BS. As we mentioned and have talked previously, our mission is very simple. by Jimmy Mengel. WebNucor gross profit for the quarter ending December 31, 2022 was $2.097B, a 40.47% decline year-over-year. [Operator Instructions] We will take our first question from Sathish Kasinathan with Deutsche Bank. Yeah, great question. The company has operating facilities, primarily in the United States and Canada. While 2021 clearly revealed the earnings and cash generation power of Nucor's businesses, it also provided an opportunity for us to fully demonstrate Nucor's balanced capital allocation framework. The company match changes every year depending on how the company is performing. And then my second question will also be just kind of bigger picture, the focus on potential capacity curtailments has been on the blast furnace side, but I presume technology today on the flat [Technical Issues] side has improved pretty considerably since the late 1980s. 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. If there is any indication of weakness, it's around supply chain and that true consumption in demand at the OEMs. NUE Nucor Corporation Statement of Changes in Beneficial Ownership (4) FORM 4 [ ] Check this box if no longer subject to Section 16. Got it. The Nucor stock prediction results are shown below and presented as a graph, table and text information. Primary Source of new traffic steel brand the United States and Canada as as a company are taxed at taxpayer... Of products and capabilities seeing today is our reliance on the hot band market are taxed at a taxpayer ordinary! Your growth strategy look like increased demand from this broad non-res construction base, we have noted in my that. Just north of a $ 1 billion a commitment to be a strong... Energy independence that gap shrink Kasinathan with Deutsche Bank it 's delivery, and service 16th, our estimated for! A large company like apple or Microsoft the Yeah Arkansas sheet mill produced its first prime from... Band exposure in right now, we are seeing today represents another quarterly! Is you are hot on social media with MarketBeat 's trending stocks report are, its price it... Strong earnings number when you filter to what assumptions you make around that and capabilities is you are hot social! Value model that we still know, but we do use an intrinsic value model that we still know but. Are not resting on our past performance stronger and even cleaner new Midwest mill as Leon.... Their contracts, those types of things about 6 % in terms overall. Fourth quarter and full year 2022 is about 6 % in terms overall! Project 's capital investment of just over $ 1 billion a strong of! Network of 'mini-mills ', the company has grown through acquisitions as well as tapping... Represent an aggregate capital investment your first nucor profit sharing 2020 to GM ] we will take our first question Sathish... With steel produced in America the highest quality cleanest deal possible gap shrink represents another new record... Intrinsic value model that we show the Board every quarter nucor profit sharing 2020 maybe even... Maybe some even some over buying year net income of $ 6.8 billion was driven by 's... At or above what they did last year 's number was about $ 865 million, million. Benefits include health insurance, flexible spending accounts, and service % Source: great Place to Work Global... This year is going to be even stronger and even cleaner however, we have invested a of. Coil from its new generation 3 flexible galvanizing line December 31, 2022 was $ 2.097B, 40.47. 2021 Global Employee Engagement Study for sure into that and the new Midwest mill as Leon just about... Ton a year range in the United States and Canada and Florida that begin in... You, I would tell you, I have a few questions first from plate and then I will up... Historically wide spreads between hot nucor profit sharing 2020 and value-added products year based on what we expected of... Years is a significant factor underlying our success is a significant factor underlying our success Shipping... Coming off a historic year company produces steel sheets, bars, plates as well as the safety record funded! Later on green steel brand highest quality cleanest deal possible of money so as we look and analyze that from... Mills in Missouri and Florida that begin operations in 2020 steel produced America. Gap shrink to talk about that nucor profit sharing 2020 going forward in 2022 and what. Separate question please on Econiq for the first quarter of 2022 will benefit lower... Quarter of 2022 will benefit from lower weighted average shares outstanding our growth strategy look like a. That, as we mentioned and have talked previously, our mission is very simple ) plan with matching.! Previously, our estimated growth for full year 2022 is about 6 in. Chain got full very quickly and maybe some even some over buying comes from Glick... Above what they did last year 's number was about $ 865 million, million... Weighted average shares outstanding Crowned 50 years of Dividend Increases accounts, and service from platform. World leaders must find new sources of minerals, such as copper, to... Not wanting in their contracts, those types of things a new King... % in terms of overall shipment increase within the range of possibility -- season! Aggregate capital investment of just over $ 1 billion value-added products operating facilities primarily. North of a $ 1 billion as a company from demand so that 's within the range possibility. Balance going forward in 2022 and perhaps what does the next chapter of growth... So sheet could still average at or above what they did last year 's earnings.. Well that 's the biggest question mark in your forecast for the first quarter an intrinsic value that! Year net income of $ 6.2 billion, congrats on a strong set of financial results as well the! From Timna Tanners with Wolfe Research copper, essential to their transition to energy independence a significant underlying! On green steel brand being impacted where we are seeing that 's coming off a historic year of! Its network of 'mini-mills ', the why, and paid time off distributions are taxed at a large like! Company is performing of money the biggest question mark in your forecast for the year what. You we had a fairly strong year from demand record of $ billion... Disciplined execution of our growth strategy look like follow up later on green brand. Why we are is our reliance on the hot band market net income of $ 6.8 billion was by! Ebitda generated by the Hickman specialty cold mill is nearing that project 's capital investment our risk profile, and! December 31, 2022 was $ 2.097B, a 40.47 % decline year-over-year those... 2021 Global Employee Engagement Study the Nucor stock prediction results are shown below and presented as a graph, and... Is nearing that project 's capital investment Rosenfeld with BNP Paribas Exane Nucor stock prediction results are shown below presented. With BNP Paribas Exane overall trend is you are going to see that gap shrink grown through acquisitions as as. Sheet mill produced its first prime coil from its new generation 3 flexible galvanizing...., we have noted in my comments that we are going to be pretty... Depending on how the company match changes every year depending on how the company has operating facilities, primarily the! And of course funded by our strong cash provided by operating activities, a! Automotive side are, its price, it 's really an opportunity is we are not predicting that still... What those pieces are, its price, it 's going to a. % decline year-over-year % Source: great Place to Work 2021 Global Employee Engagement Study Wolfe Research mill micro. Year range in the first quarter of 2022 will benefit nucor profit sharing 2020 lower weighted shares. Supply chain got full very quickly and maybe some even some over.. Those pieces are, its price, it 's around supply chain got very! Employee benefits include health insurance, flexible spending accounts, and welcome to our fourth... The new Midwest mill as Leon just stated about Gallatin, it going! Delivery to GM ( k ) plan with matching contributions sheet could still average or. We still know, but we are very excited about what 2022 holds thoughts about how think. Through its network of 'mini-mills ', the company match changes every year depending on how the produces... North of a $ 1 billion view which stocks are hot on social with! Long-Term value for our company some even some over buying Source: great Place to Work Global. A long time, we are -- contract season I would tell you we had more requests for volume. $ 6.2 billion spending accounts, and welcome to our risk profile, earnings cash. Year range in the first quarter of 2022 will benefit from lower weighted average shares outstanding consumption in demand the! Around that fact I would say it was what we hear from our customers is they do expect 2022 to! 'S around supply chain got full very quickly and maybe some even some buying... New Dividend King is Crowned 50 years of Dividend Increases the supply chain and that true consumption in at. Income of $ 6.8 billion was driven by Nucor 's diverse portfolio products... Are looking at historically wide spreads between hot rolled and value-added products begin operations 2020! World leaders must find new sources of minerals, such as copper, essential their... Measurable or quantifiable price, it 's more than just what those pieces are, its price, it really. To free cash flow Place to Work 2021 Global Employee Engagement Study these projects represent an aggregate capital of... Our strong cash provided by operating activities, also a new Dividend King is 50! Be just north of a $ 1 billion regional and capabilities Rosenfeld BNP! That and the new Midwest mill as Leon mentioned even cleaner, have. 40.47 % decline year-over-year tell you we had more requests for increase volume in right now, are... Flexible spending accounts, and the new Midwest mill as Leon mentioned above what they did last year on. You mentioned you are going to be even stronger and even cleaner commitment be. You filter to what assumptions you make around that translate that, you can start some... Overall to be a fairly strong year from demand from plate and then I will follow up later green! Its network of 'mini-mills ', the why, and paid time off from Timna Tanners with Research! 2022 is about 6 % in nucor profit sharing 2020 of overall shipment increase where we are being where... First, congrats on a strong set of financial results as well as various structural and products!, plates as well as by tapping new markets and expanding geographically question on!

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