One is non-residential construction. At this time, I will turn the conference back to Mr. Leon Topalian for any additional or closing remarks. 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. STOCK TRANSFERS, DIVIDEND DISBURSING & DIVIDEND REINVESTMENT. It's just a very solid demand picture. Turning to the outlook. Our expectation and our stated goals are to double that to around 3 million tons. 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. 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. 65 Day Avg Vol 1,846,352. Rex? However, we are not resting on our past performance. Rex, you want to touch on contracts? 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. As of 12/31/18, this particular employee is 40% vested, and therefore, entitled to $400 of the $1,000 balance. So the supply chain got full very quickly and maybe some even some over buying. Our crystal ball gets pretty fuzzy when we look out very much past the next month or so. 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. CASH. In 1972 the company adopted the name Nucor Corporation, which would soon become a well steel company within the U. S. I wanted to ask a bit about your visibility into the first quarter. If you look at our industry over the last 12, 18 to 24 months, there has been significant shifts in consolidation, rationalization and trade. With approximately half of Nucor's products going into the construction market, we stand ready to help our country meet its infrastructure needs. We are not seeing the benefits from the infrastructure believe that's still coming. Finally, I would also like to mention a new project in our bar mill group. Thank you. If you, the employer, make contributions to a profit sharing plan, you can deduct up to 25 percent of WebNucor offers their employees a Profit Sharing Plan. How much money do Nucor employees make? 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. That's 18% to 22%. 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. At year-end gross debt as a percentage of total capital was approximately 28%, while net debt was about 14% of total capital. 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 at the end of the day, supply and demand will always be the drivers to how we price our products. How should we think about that balance going forward in 2022 and perhaps what does the next chapter of your growth strategy look like? At what point does a company become too large for profit sharing to make a difference in employee motivation? We remain well capitalized with excellent liquidity. 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. They are tasked with growing that business. 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. The Nucor team is focused on maximizing our profitability and continuing to be great stewards of the valuable shareholder capital you entrust us with. And congratulations on the strong update today. Nucor had 16 divisions that went zero recordable injuries in 2021 and I look forward to the day when our entire company achieves that same goal. 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 so what we would be looking for, we are going to look at for that demand. I have a few questions first from plate and then I will follow up later on green steel please. The cumulative EBITDA generated by the Hickman specialty cold mill is nearing that project's capital investment. For a long time, we have been in that 1.5 million, 1.6 million ton a year range in the automotive side. Full -- there is additional work to be done, which is part of the plan. So those would be our thoughts about how to think about the whole year from a big picture perspective. 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. What we hear from our customers is they do expect 2022 overall to be a fairly strong year from demand. 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. 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. WebNucor Corp. NUE (U.S.: NYSE) View All companies. So, the acquisition of CSI for us and having JFE as a second partnership in California and again majority shareholder in that operation, it's really exciting for us. We averaged $560 per ton in sheet last year. The spread case's different, but obviously the door opened up with the the massive spread. 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. The company's earnings came in at $2.25 billion, or $7.97 per share. Get short term trading ideas from the MarketBeat Idea Engine. In-depth profiles and analysis for 20,000 public companies. 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. The reason for that is: 1. We hired a -- our shift to the general manager, existing general manager Nucor over that business, but we are really pulling that group in to get them to understand Nucor integrate and look at our production bonus system and how we incorporate that, but it's very much step in learn as much about their business as well. 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. Is Does Magna International Earnings Warning Bad for EV Sales? Yeah. Our visibility into that market is extremely good and the demand picture is very strong. 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? Putin's invasion of Ukraine has revealed the West's dependence on Russia for their energy needs. 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. We are going to make sure we take care of and service our customers. We started went up at Gallatin the year before that. Auto is still down. According to www.careerbliss.com, Nucor employees make an average of $70,000 annually. We are not just going to make steel and enforce in the marketplace if we can't sell it at a reasonable price. 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. Nucor's product breadth continues to be a powerful driver of value creation through the cycle for both our customers and shareholders. 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. Thank you very much. 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. If you use our datasets on your site or blog, we ask that you provide attribution via a "dofollow" link back to this page. 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. Jim? by Jimmy Mengel. 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. We are not predicting that we still know, but we are seeing that's within the range of possibility. Yes, Satish. It's going to be a pretty strong earnings number and we go to free cash flow. Currently, Nucor is trading at 12.4x next year's earnings and a dividend yield of 3.4%. There are some headwinds for next year. WebThe reward system in place at Nucor is also unique, and its employees may be the highest paid steelworkers in the world. Nucor Corporation is a leading producer of structural steel, steel bars, steel joists, steel deck and cold finished bars in the United States. 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? The Nucor stock prediction results are shown below and presented as a graph, table and text information. So we want to make sure that equipment is ready and available as we progressed out. I will kick us off and ask Chad Utermark, our Executive Vice President of Products to really add some color in there. CSI is a flat rolled converter with annual capacity to produce more than 2 million tons of finished steel and steel products. So, I have seen some of the information of not wanting in their contracts, those types of things. Copy to Clipboard Copied! An Overview of Blue Chips. This represents another new quarterly record for our company. And on behalf of myself and our entire executive team thank you. Competitive base pay and Nucor Profit Sharing Plan, with opportunities for merit increases based on performance A chance to grow your career with a stable company owned by Nucor, North Americas largest steel producer A full benefits package, including Medical/Dental/Vision insurances; Short-Term and Long-Term Disability; Life Insurance And so you are going to see Nucor continue to move and invest in projects where we can combine our culture, our strong balance sheet, and our investment strategy in deploying capital that will greatly exceed our cost of capital goals to return to our shareholders. Thank you, Chad. Backlinks from other websites are the lifeblood of our site and a primary source of new traffic. Got it. We value our teammates and offer benefits packages that also include paid time off, parental leave, profit sharing, So we recognize that that's a part of our portfolio that would perform better and we are quite so weighed to hot band. 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. Our next question comes from Timna Tanners with Wolfe Research. These investments meaningfully enhance Nucor sheet product capabilities. 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. So, it's more than just what those pieces are, its price, it's delivery, and service. Second question, if I may, is you -- given the $5.5 billion in capex over the next three years, I mean, some of that already is ongoing with projects that you are executing, but how do you see the returns on these investments, any sense of the incremental EBITDA that you could generate from these projects that would be great. View which stocks are hot on social media with MarketBeat's trending stocks report. Again, the next is going to be incremental benefits from the ramp of three major projects, the Hickman galvanized line, the Gallatin hot mill to the extent that there is enough sheet demand to ship some portion of that another 8,000 tons of extra capacity we will have for the year, and then finally the Kankakee, our merchant bar mill, we have been running parts of its capability, but not it's full range yet and so there's still some incremental capacity in Kankakee that we are not benefiting from that we will benefit from next year, so another positive for the years outlook. But relative to capex and benefits, we do -- when we announced each project, we generally give some sort -- when it's a major projects we give some sort of an EBITDA run rate. We should see some strong tailwind from lower input cost, so just any color you can provide. Our talented, dedicated team members are Nucor's greatest value creators. The company match changes every year depending on how the company is performing. Chips and auto won't ramp up till later this year. Zoetis, Pet-Med Specialist, Double-Digit Earnings Growth Ahead, 3 Mid-Cap Earnings Plays to Watch This Week. 2021 capital returns consisted of dividends of $483 million and share repurchases of just under $3.3 billion. 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