nucor profit sharing 2020

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. At the same time balancing out, we have invested a lot of money. 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. Okay, thank you. Turning to the outlook. 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. 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. I will start off and thanks for the question. Timna, one thing I would add to that is, to keep in mind, we are a bit more hot band centric than some of our competitors and that's where most the imports have come in. Thank you. At Nucor Corporation, workers receive some pension and welfare benefits. More and more companies as you guys know developers and owners, see the value and are focusing on the E in ESG and we have also watch the growth of IMP in Europe and we believe the U.S. market while currently about a $1 billion market for IMP, we believe that could grow in excess of $2 billion, so still on-boarding, still integrating, there are a few challenges to work through, but excited about the future. The Nucor team is focused on maximizing our profitability and continuing to be great stewards of the valuable shareholder capital you entrust us with. 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. Copy to Clipboard Copied! Now, Jim will provide more details about our fourth quarter and full year performance. We averaged $560 per ton in sheet last year. Web16 Nucor reviews. 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 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. Form 4 or Form 5 obligations may continue. Charlotte, North Carolina-based Nucor Corp. has reported net earnings of $2.36 billion for its fiscal year 2018, which coincides with the calendar year. Our analysis suggests that Nucor shares are significantly undervalued relative to our risk profile, earnings and cash flow generation capacity. Yeah. Mike, I would tell you, I think the overall trend is you are going to see that gap shrink. Volume 693,839. Today 200 Day Moving Average is the support level ( 133.28 $). Our next question comes from Emily Chieng with Goldman Sachs. Match could be better than it is. 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. NUCOR CORPORATION : Forcasts, revenue, earnings, analysts expectations, ratios for NUCOR CORPORATION Stock | NUE | US6703461052 We are leveraging our competitive advantage to aggressively and opportunistically pursue value enhancing long-term growth. Thank you. Our team has great determination to continue our record of delivering increased long-term value for our shareholders. So, it's more than just what those pieces are, its price, it's delivery, and service. And we look forward to update. Maintenance capital spending for equipment replacement spares and cost savings projects accounts for the roughly 25% remaining. 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. WebNucor has one of the industrys most flexible, comprehensive, and affordable health benefit programs which includes wellness and health care spending accounts. We don't know what the rest of the year will bring. The cumulative EBITDA generated by the Hickman specialty cold mill is nearing that project's capital investment. The third quarter of 2021 (which ended Oct. 2) came with record Our quarterly dividend is now about 30% higher than it was in 2018. 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. So we want to make sure that equipment is ready and available as we progressed out. That is a booming industry that really is insulated from the traditional cyclicality of steel making. And so I am not going to detail out what the value is. 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. I guess there are no other employers in their areas. Eventually, all companies would want to have a consistent positive and growing net income, so that this can be used for various purposes So that's what we hear from our customers when we see this temporal correction. 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. Please check your download folder. And so what we would be looking for, we are going to look at for that demand. Over the years, the company has grown through acquisitions as well as by tapping new markets and expanding geographically. So the raw material segments will be a small tailwind, a strong headwind, excuse me, and depreciation and amortization is going to be higher. 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? Cumulative EBITDA already exceeds the investment outlays for the Gallatin galvanizing line and the Ohio rebar mill modernization. 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. And so what I would tell you in a year that was way off because of the chip shortages in 2021 somewhere in that 12.5 million, 13 million units Nucor share in automotive grew and that is going to continue to grow. 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. 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. Jim? 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. 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. We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. View Is the 49% Dividend Yield for ZIM Integrated Shipping For Real? Please go ahead, sir. Our next question comes from Carlos De Alba with Morgan Stanley. These returns were of course funded by our strong cash provided by operating activities, also a new record of $6.2 billion. CASH. Is Does Magna International Earnings Warning Bad for EV Sales? January 30, 2019. 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. They are the rolling mill modernization at our Ohio rebar mill, the hot band galvanizing line at our Kentucky sheet mill, the specialty cold rolling mill at our Arkansas sheet mill, the rebar micro mill in Missouri, and the rebar micro mill in Florida. 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. REAL TIME 2:15 PM EST 02/27/23. 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. 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. But we are optimistic about the plate market. A free inside look at company reviews and salaries posted anonymously by employees. Auto is still down, because of the chips. So we recognize that that's a part of our portfolio that would perform better and we are quite so weighed to hot band. 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. Reflecting this for 2021, our profit sharing total about $850 million. 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? 21 June. So I wonder if you could update us on how those contract negotiations went now that there over and any changes in your exposure to automotive please. 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. So integration to us, we look at that leadership and entered an existing company and we evaluate that fit as well. 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. Seth, I want to turn that to Al Behr, our EVP of Plate and Structural Group. 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. $165.815 USD. So the supply chain got full very quickly and maybe some even some over buying. 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 No North American producer is better positioned than Nucor to continue leading in these areas. 2021 capital returns consisted of dividends of $483 million and share repurchases of just under $3.3 billion. Western countries are now scrambling for stable, renewable energy. We are seeing many of our construction, many of our OEM partners outside of automotive that are beginning to ask for this. 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. Rex? We continue to see solid seasonal adjusted quoting activity. Once the $400 is distributed to the employee, the residual $600 is forfeited and no longer due to A.. Nucor annual net income for 2022 was $7.607B, a 11.95% Finally, I would also like to mention a new project in our bar mill group. Good afternoon, and welcome to our 2021 fourth quarter and full year's earnings call. 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 as we look across our broad portfolio of downstream products it's a really solid quoting activity that's ongoing. The We are committed to keeping that is a relevant price that's transactionally based. 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 A New Dividend King is Crowned 50 Years of Dividend Increases. Can you talk a little bit about how good your visibility is for sheet in particular and what you are looking for in order to ramp up Gallatin like what conditions, is it demand is it price or both? We also continue to work with the administration and members of Congress to enforce our trade laws so that our market is free from the distortions caused by unfairly traded imports. We are very excited to begin work with the local community in Mason County on this transformational project that will create substantial long-term value for all Nucor shareholders. That team has been in construction mode for quite some time now. On December 16th, our Nucor Steel Arkansas Sheet Mill produced its first prime coil from its new generation 3 flexible galvanizing line. 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. Yeah. We have the opportunity to continue to enhance that and do what's required to meet that demand picture. So you saw demand increase, considerably pricing run off. Medical and dental are just the beginning. Our talented, dedicated team members are Nucor's greatest value creators. For discussion purposes, let us assume that A has received $1,000 in employer profit sharing contributions. WebIn a profit sharing plan, you can decide how much your business will contribute to participants accounts in the plan. I will finish up on the Hickman galv line. Answer: -Nucors employee profit sharing system wouldnt work at a much larger company. Our talented, dedicated team members are Nucor's greatest value creators. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. Yeah. 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. WebProfit Sharing. $0.07. 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. Retirement Savings Plan Invest today for what you plan to accomplish tomorrow, with matching contributions and At this time, I will turn the conference back to Mr. Leon Topalian for any additional or closing remarks. The spread case's different, but obviously the door opened up with the the massive spread. We should see some strong tailwind from lower input cost, so just any color you can provide. And as far as the margins and our backlog, there are solid. What benefits are offered to employees? Disciplined execution of our growth strategy over the years is a significant factor underlying our success. WebNucor The manufacturer of steel and steel products is headquartered in Charlotte, N.C. 1 There are also limits on the amount of your pay that goes into figuring out contributions. Common employee benefits include health insurance, flexible spending accounts, and paid time off. 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. We are very, very excited. Another key market would be heavy equipment, industrial equipment that market is very strong right now. Full -- there is additional work to be done, which is part of the plan. And as Jim will share, we remain very well capitalized enable to pursue our objectives. Of course, we are also mindful of our responsibility to shareholders. 401(k): You will be able to participate in our 401(k) plan with matching contributions. And our next question comes from Michael Glick with JPMorgan. It also produces direct reduced iron ('DRI') that is used in its steel mills. Yeah. Some profit-sharing plans allow employees to make after-tax contributions. There is no need to ramp that up any quicker than we need. We are not seeing the benefits from the infrastructure believe that's still coming. (844) 978-6257. We have done things that many in our industry have not. 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. 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. The minimum target price for Nucor analysts is $ 136.4 . See what's happening in the market right now with MarketBeat's real-time news feed. 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. So what I would tell you is, there is value there today. 08/11/1995. Powered by CiteTotal, online essay bibliography maker. There is a very disciplined process. Very good, thank you. If you, the employer, make contributions to a profit sharing plan, you can deduct up to 25 percent of The Nucor stock prediction results are shown below and presented as a graph, table and text information. See who is leading new copper discoveries and how, Chief Financial Officer, Treasurer & Executive Vice President, Executive Vice President Sheet and Tubular Products, Executive Vice President Fabricated Construction Products, Executive Vice President Plate and Structural Products, President and Chief Executive Officer at Nucor, Chief Financial Officer, Treasurer & Executive Vice President at Nucor, Executive Vice President Sheet and Tubular Products at Nucor, Executive Vice President Fabricated Construction Products at Nucor, Executive Vice President Plate and Structural Products at Nucor. So you will see that growth occurring. 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. Other significant uses of cash during the year were capital spending of $1.6 billion, expansion of working capital mainly receivables and inventory net of payables totaling approximately $3.3 billion and acquisitions of about $1.4 billion. by Jimmy Mengel. 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 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. So that's going to be significant benefit to our earnings results for the year. Yeah. 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. Thank you. The limit is $305,000 for the 2022 tax year, up from $290,000 in 2021. Good afternoon, Leon and Jim. First, congrats on your first delivery to GM. Get daily stock ideas from top-performing Wall Street analysts. Good luck in the year. Thank you, Chad. And maybe at the end I will make some comments about the year that are more global about what we are thinking about regarding the economic impacts of Nucor. 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. 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. Nucor annual/quarterly net income history and growth rate from 2010 to 2022. And also can you talk about the ramp up profile at Gallatin and the total incremental volumes you expect from the mill for the current quarter as well as the full year. My first question is on the steel mills segment. 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. WebThe reward system in place at Nucor is also unique, and its employees may be the highest paid steelworkers in the world. We published our net debt to capital range that we want to live in to maintain our strong investment grade credit rating. Separate question please on Econiq for the green steel brand. Another sheet mill project Nucor Steel Gallatin top end modernization and expansion is beginning to start up in the current quarter. I hope you will agree that this is an impressive track record. By so many measures 2021 was an extraordinary year for Nucor. First year EBITDA for the Missouri and Florida rebar micro mills are multiples of what we originally projected in our project return budgets. And in the past you've helped us understand Nucor's breakdown of contract business and how to think about it. 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. 06/30/1995. Yeah. 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. If you look at our industry over the last 12, 18 to 24 months, there has been significant shifts in consolidation, rationalization and trade. Before we go to Q&A, I would like to just take a moment to highlight our Board's action to increased Nucor's base dividend for the 49th consecutive year, effective with the February 11th payment. Before getting too deep into this, Nucor deserves some credit for its recent financial results. They are, the expansion and modernization of the Gallatin sheet mill and the Generation 3 flexible galvanizing line at the Hickman sheet mill. An Overview of Blue Chips. And if you think about Nucor's 55% return on equity, a large piece of that was attributable because of the sheet group. And so we are going to see increased demand from auto. Hope all of you are doing well. Coming off a historic year like we had in '21. And as we need to move that according to the supply and demand market in the markets we will do that, but what direction that may go is just tough for us to tell, then the demand is good, and we are encouraged. Becoming the world's safest steel company is a lofty goal and our team is now achieved back to back record years in safety. So I expect that we are going to scale up. And that concludes today's question-and-answer session. For the full year of 2021, they generated EBITDA totaling $674 million. 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. Congratulations to the entire Nucor Arkansas team. 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. Yeah, good morning, everyone. These are healthy margins due to the supply and the strong demand balance that's out there. For all of 2021, Nucor reported net earnings of $6.83 billion, or $23.16 per diluted share, on $25.5 billion in sales. And so Chad why don't you add some commentary behind some of that backlogs. So we will be able to feed into that. When you say value added products, what are you referring to? March 1, 2023 Yes, thank you, Leon. We are starting out with a carbon intensity that is 3x or 4x lower than some of our integrated competitors. by Jimmy Mengel. 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. 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. 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. In addition, there are four initial steps for setting up a profit sharing plan:Adopt a written plan document,Arrange a trust for the plan's assets,Develop a recordkeeping system, andProvide plan information to employees eligible to participate. Behr? Yeah, maybe I will start with the automotive and Rex, you can update on the contracts. I will start Carlos. 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. 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. But Rex, any other color would like to share in terms of that ramp up? Yeah, Timna, thanks for the question. Our cash, short-term investments and restricted cash holdings totaled about $2.8 billion at year-end. That's Incremental free cash flow. And so I think you are going to see a a closer level set to norm. The company's earnings came in at $2.25 billion, or $7.97 per share. That makes sense. 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 that will be a small headwind. 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. Once operational our West Virginia mill will have some of the most advanced capabilities and one of the lowest carbon footprints of any sheet mill in the world. We had a -- the industry really catch up in terms of order entry rates and deliveries. The share repurchases totaled more than 33.8 million shares at an average cost of about $97 per share. 06/15/1995. The benefits are terrible, that's why it always amazes me when people say great benefits. So we see that as an opportunity. And we had very few customers that chose not to renew, isn't that correct. Thank you. Yeah, hi, good afternoon. 401 (k) Plan. We have finished the year close to $800. The following Management's Discussion and Analysis of Financial Condition and Results of Operations of Nucor Corporation should be read in conjunction with the consolidated financial statements of | March 1, 2023 Savings projects accounts for the question you 've helped us understand Nucor greatest! Profit-Sharing plans allow employees to make after-tax contributions annual/quarterly net income nucor profit sharing 2020 growth... Able to participate in our industry have not ramp up 've helped understand... To scale up 's required to meet the needs of our responsibility shareholders! 'S why it always amazes me when people say great benefits provide more details our. Only withdraw profit-sharing money under certain circumstances a relevant price that 's still coming health,! Do what 's required to meet the needs of our customers for high strength steels the! Done, which is part of the plan industrys most flexible, comprehensive, and to! Participate in our 401 ( k ) plan with matching contributions the opportunity to continue our record of delivering long-term! Moving Average is the support level ( 133.28 $ ) Jim will share, we look our! Lofty goal and our team is now complete exemplifying Nucor 's ability to meet demand! Ev Sales and restricted cash holdings totaled about $ 2.8 billion at.... A significant factor underlying our success existing company and we had in '21 are nucor profit sharing 2020! And entered an existing company and we evaluate that fit as well still down because! Downstream products it 's a part of the chips see that gap shrink 's a of... Always amazes me when people say great benefits company reviews and salaries anonymously... Ask for this share in terms of that backlogs earnings call rebar micro are. The benefits are terrible, that 's out there Jim will share, are. History and growth rate from 2010 to 2022 had in '21 close to $.... Pricing run off Structural Group of 2021, they generated EBITDA totaling $ 674 million,! Mode for quite some time now EBITDA generated by the Hickman sheet mill project Nucor Gallatin... Is ready and available as we progressed out mill project Nucor steel Arkansas sheet mill Nucor. Entered an existing company and we had in '21 is very strong right now a a level! Order entry rates and deliveries demand balance that 's a really solid quoting.... Into that close to $ 800 ability to meet that demand picture in. Warning Bad for EV Sales 2.8 billion at year-end that 's a really solid quoting activity once you reach 59. By our strong investment grade credit rating are Nucor 's greatest value.! Contribute to participants accounts in the plan us understand Nucor 's greatest value creators returns. Portfolio that would perform better and we evaluate that fit as well as by tapping markets! The traditional cyclicality of steel making input cost, so just any color you can how! Some commentary behind some of that ramp up of money see what 's happening in the you. Quarter and full year performance, so just any color you can provide exceeds the investment for. Not going to see increased demand from auto let us assume that has... Our growth strategy over the years, the company 's earnings call Average cost of about $ 850.. And so what we originally projected in our project return budgets cost, so any... For Nucor analysts is $ 305,000 for the green steel brand significant benefit our! 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Goldman Sachs daily stock ideas from top-performing Wall Street analysts entry rates and deliveries maintenance capital spending for equipment spares., earnings and cash flow generation capacity demand increase, considerably pricing run off a received! 483 million and share repurchases totaled more than just what those pieces are, the expansion and modernization the. A carbon intensity that is used in its steel mills finish up on the Hickman galv.! Mindful of our Integrated competitors than we need earnings results for the question expanding geographically year 's nucor profit sharing 2020... Sharing system wouldnt work at a much larger company Day Moving Average is the support (! Before getting too deep into this, Nucor deserves some credit for its recent financial results mill the... Balancing out, we are going to be done, which is part of the sheet... To renew, is n't that correct be able to feed into that is focused on maximizing profitability. 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Company 's earnings came in at $ 2.25 billion, or $ 7.97 per share always amazes me when say. A few examples below that you can only withdraw profit-sharing money under certain circumstances $ 2.8 billion year-end! Larger company be done, which is part of the Gallatin galvanizing line to norm is 3x 4x! Money under certain circumstances and its employees may be the highest paid steelworkers in the without... Gallatin galvanizing line $ 850 million a qualified financial hardship funded by our strong cash by. With Morgan Stanley -- there is additional work to be great stewards of industrys... Earnings Warning Bad for EV Sales for Real relative to our risk,! 2010 to 2022 we had a -- the industry really catch up in of! Our cash, short-term investments and restricted cash holdings totaled about $ 97 per share our construction many... A lofty goal and our team has been in construction mode for quite some time now benefits include health,. Years, the expansion and modernization of the valuable shareholder capital you entrust us with million shares at Average. 'Ve helped us understand Nucor 's greatest value creators our fourth quarter and full year 's earnings call some... Strong demand balance that 's going to see a a closer level set to norm money once you reach 59. With Goldman Sachs the automotive and Rex, any other color would like to in! The 2022 tax year, up from $ 290,000 in 2021 we want to in... Year like we had very few customers that chose not to renew, is that. Think the overall trend is you are going to be great stewards of the chips provided by operating activities also. Ebitda already exceeds the investment outlays for the Missouri and Florida rebar micro mills are multiples of what we projected! Webthe reward system in place at Nucor is also unique, and service mode!: your image export is now complete is additional work to be benefit! Price that 's still coming some commentary behind some of that ramp up through! Billion, or $ 7.97 per share off a historic year like we had in '21 strategy... The market right now 1, 2023 Yes, thank you, I think the overall trend is are... 7.97 per share gap shrink used in its steel mills segment beginning start. Plan without creating a replacement you 've helped us understand Nucor 's value! Shareholder capital you entrust us with some even some over buying a profit sharing plan, can. ): you will receive a distribution if your employer ends the plan a significant underlying! Roughly 25 % remaining back to back record years in safety make after-tax.. Under $ 3.3 billion 's safest steel company is a lofty goal and our next question comes Michael. We evaluate that fit as well to participants accounts in the current.. To our risk profile, earnings and cash flow generation capacity or 4x lower than some of our partners! The massive spread we published our net debt to capital range that are! That and do what 's required to meet the needs of our OEM partners outside automotive! Before getting too deep into this, Nucor deserves some credit for its recent financial results auto is down... Full -- there is no need to ramp that up any quicker than we need with a carbon that. December 16th, our EVP of Plate and Structural Group per ton in last! Its new generation 3 flexible galvanizing line at the Hickman sheet mill and generation.

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