My first question is just around the capital allocation and I think last year churn that you have been able to execute both growth and a significant amount of capital returns. You mentioned you are hot band exposure in right now, we are looking at historically wide spreads between hot rolled and value-added products. by Jimmy Mengel. 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. Of course, we are also mindful of our responsibility to shareholders. I think at a large company like apple or Microsoft the Nucor annual/quarterly net income history and growth rate from 2010 to 2022. Growth projects for improved product capabilities and expansion represent about 75% of our expected capital spending for this year. 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. 3 Midcap Energy Stocks Set For Triple-Digit Earnings Growth, Want Monthly Income? CSI is a flat rolled converter with annual capacity to produce more than 2 million tons of finished steel and steel products. 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 Over the years, the company has grown through acquisitions as well as by tapping new markets and expanding geographically. We are also expanding our presence in the Western U.S. 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. 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. So that team is working feverishly to bring its capability to where we need. 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. While our 2021 performance unquestionably benefited from an exceptionally strong steel industry up cycle, Nucor's results were also fueled by our team's focus and commitment to safely meeting our customers' needs. Our team has great determination to continue our record of delivering increased long-term value for our shareholders. 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. The demand in key markets is very good and we instituted a published price in obviously of 2020 and that's a relevant price. Currently, Nucor is trading at 12.4x next year's earnings and a dividend yield of 3.4%. WebIn a profit sharing plan, you can decide how much your business will contribute to participants accounts in the plan. Nucor annual net income for 2022 was $7.607B, a 11.95% So, well, I think there is some correction. An Overview of Blue Chips. Thank you. Yeah. Nucor gross profit for the twelve months ending December 31, 2022 was On December 16th, our Nucor Steel Arkansas Sheet Mill produced its first prime coil from its new generation 3 flexible galvanizing line. Is the 49% Dividend Yield for ZIM Integrated Shipping For Real? Last year's number was about $865 million, this year is going to be just north of a $1 billion. But end market demand remains strong. Real-time analyst ratings, insider transactions, earnings data, and more. Some of our oldest mills are the highest generating returns that we have in our entire portfolio and it's because we do a great job of reinvesting our teams, do an amazing job of keeping the maintenance and up keep and staying on the latest trends for the improvements in technology to implement to ensure not only the safest delivery of that steel, but also the lowest cost output to those steel products for our customers. And before I turn the call over to Jim, I would like to congratulate the entire Nucor team on reaching new heights to achieve our safest and most profitable year in company's history. Thanks for the question. And -- but we do use an intrinsic value model that we show the Board every quarter. No North American producer is better positioned than Nucor to continue leading in these areas. So integration to us, we look at that leadership and entered an existing company and we evaluate that fit as well. Yeah. 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. That's 18% to 22%. And so I am not going to detail out what the value is. Okay. 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. We have got two virtual power purchase agreements today that because of our balance sheet allow us to be able to do those things. 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 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. Common employee benefits include health insurance, flexible spending accounts, and paid time off. The second and very important data set we look at is our customers per say. 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. By so many measures 2021 was an extraordinary year for Nucor. And we are excited about Econiq. And as Leon just stated about Gallatin, it's really an opportunity is we are getting some work done there. The company match changes every year depending on how the company is performing. And in the past you've helped us understand Nucor's breakdown of contract business and how to think about it. 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. For example, five major greenfield projects completed commissioning and startup over the 2019 through 2020 time period. 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. I will kick us off and ask Chad Utermark, our Executive Vice President of Products to really add some color in there. As we conclude our call today, I just want to thank the entire Nucor family for delivering the safest year in our history and the most profitable year in our history. And so Chad why don't you add some commentary behind some of that backlogs. Nucor net profit margin for the three months ending December 31, 2022 was . 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? And of course, we had a fairly robust M&A pipeline. World leaders must find new sources of minerals, such as copper, essential to their transition to energy independence. Hope all of you are doing well. 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. 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. Okay, thank you. A New Dividend King is Crowned 50 Years of Dividend Increases. Net income for 2021 was $6.8 billion and full year earnings per share was $23.16, which were both notable increases over the prior records we'd set in 2018 with $2.4 billion of net income and an EPS of $7.42. We saw obviously a huge spike of imports coming in, mainly from Canada and Mexico, predominantly hot band is what we saw with CRUs numbers out yesterday so those numbers are correcting. Also, most of its operating facilities and customers are located in North America. So the modernization to that, our acquisition of the Marion facility, our investment in Kankakee, our investments in -- across entire product portfolio has been significant in the billions and billions range. View which stocks are hot on social media with MarketBeat's trending stocks report. So what I would tell you is, there is value there today. So that will be a small headwind. In 2005, the average Nucor employee earned $79,000, followed by a $2,000 bonus decided by the companys annual earnings and $18,000 in the form of profit sharing. Turning to our fourth quarter results. Nucor stock forecasts are adjusted once a day based on the closing price of the previous trading day. The spread case's different, but obviously the door opened up with the the massive spread. I have a few questions first from plate and then I will follow up later on green steel please. If there is any indication of weakness, it's around supply chain and that true consumption in demand at the OEMs. Really just pleased with what's occurred there the start up of that. The minimum target price for Nucor analysts is $ 136.4 . Yeah. 87% 57% Source: Great Place To Work 2021 Global Employee Engagement Study. We are starting out with a carbon intensity that is 3x or 4x lower than some of our integrated competitors. If you use our datasets on your site or blog, we ask that you provide attribution via a "dofollow" link back to this page. I know that there was a lot of chatter about moving to shrink the discounts against CRU. Auto is still down, because of the chips. Better than expected results for the month of December were achieved across a broad group of businesses. Good afternoon. We will measure that ramp up here in the first quarter with what we see on demand. And I look forward to continuing the exceptional performance across all of our businesses in 2022. 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? 326 E 8th St #105, Sioux Falls, SD 57103 This will be Nucor's third rebar micro mill joining micro mills in Missouri and Florida that begin operations in 2020. Distributions are taxed at a taxpayer's ordinary income rate. Our talented, dedicated team members are Nucor's greatest value creators. So those would be our thoughts about how to think about the whole year from a big picture perspective. Distributions from a profit-sharing plan are taxable income and must be reported on an individual's tax return. There are some headwinds for next year. 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. Yeah. All rights reserved. First, converting capacity utilizations, we don't break those out typically in detail by business. Jim anything you would add? It's going to be a pretty strong earnings number and we go to free cash flow. Cumulative EBITDA already exceeds the investment outlays for the Gallatin galvanizing line and the Ohio rebar mill modernization. First year EBITDA for the Missouri and Florida rebar micro mills are multiples of what we originally projected in our project return budgets. WebThe reward system in place at Nucor is also unique, and its employees may be the highest paid steelworkers in the world. Chips and auto won't ramp up till later this year. Yeah, Emily. We averaged $560 per ton in sheet last year. The biggest one being the sheet price correction that's really tied mainly to imports.