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. So we are already evaluating acquisition potential, greenfield potential in the racking business so we stepped into that business for the purposes of growing and growing further geographically and expanding our capabilities there. That value will continue to increase. As we mentioned and have talked previously, our mission is very simple. Hey, a couple of questions on the market. Yeah. Our analysis suggests that Nucor shares are significantly undervalued relative to our risk profile, earnings and cash flow generation capacity. Thank you and have a great day. [Operator Instructions]. And finally to our shareholders, we are proud of the record returns provided in 2021. Thank you. The benefits are terrible, that's why it always amazes me when people say great benefits. Profitability records were set by numerous businesses including Nucor sheet mills, rebar and merchant bar mills, engineered bar mills, plate mills, structural mills, joist and deck, tubular products, cold finished bars, and fasteners. The minimum target price for Nucor analysts is $ 136.4 . 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. Hannibal has been very successful, but also just a cultural fit in the first place. We will take our next question from Seth Rosenfeld with BNP Paribas Exane. At this time, I will turn the conference back to Mr. Leon Topalian for any additional or closing remarks. So you saw demand increase, considerably pricing run off. Russia Ignites West's Battle for Energy Independence. And so from a Nucor perspective, I would tell you not at all. They have couple of operations California, Houston, the leadership we have had there really just spectacular, fit in well with our company. Another sheet mill project Nucor Steel Gallatin top end modernization and expansion is beginning to start up in the current quarter. Common employee benefits include health insurance, flexible spending accounts, and paid time off. 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. So, well, I think there is some correction. 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. It's going to have a capacity over the year to give us an incremental 800,000 to 900,000 tons. Our next question comes from Emily Chieng with Goldman Sachs. 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. Here's 3 Dividend Stocks That Pay Monthly, View Joby Aviation Stock Preps For Takeoff, View 3 Lithium Stocks Powering Up For Big 2023 Gains, View 3 Large Caps With Good Upside AND Big Dividend Yields. Thanks for taking the question. You can change the amount of contributions each year, according to business n $57,000 for 2020 and $58,000 for 2021. Adding this amount Thank you. It's just a very solid demand picture. Thanks. There are some headwinds for next year. In terms of the overall, where that ends up, I am not going to speculate, I would tell you that with a healthy functioning market, it's going to find its equilibrium. In that, as we reinvest in our infrastructure, we do so with steel produced in America the highest quality cleanest deal possible. Adding this amount to teammate profit sharing over the course of the last five decades Nucor's WebThe reward system in place at Nucor is also unique, and its employees may be the highest paid steelworkers in the world. 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. Got it. 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. First, converting capacity utilizations, we don't break those out typically in detail by business. But what's norm, right? And then on the pricing side, obviously, demand perhaps growing very rapidly right now, supply is very tight, what's the degree of pricing power are you able to achieve compared to any cost escalation perhaps as you just raw materials mix for power supply? The company match changes every year depending on how the company is performing. Okay. Akamai Technologies Earnings Sell-Off. First year EBITDA for the Missouri and Florida rebar micro mills are multiples of what we originally projected in our project return budgets. Hannibal Industries, our first step into the racking side, obviously we look for companies that are successful is our first approach for Nucor. Turning to our fourth quarter results. Capital spending is only going to be up in the neighborhood of $700 million based on what we see today. 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. Nucor will continue to be a key part of our modern economy by supplying the most advance and sustainable steel products needed to rebuild Americas infrastructure. View Russia Ignites West's Battle for Energy Independence, View 3 Midcap Energy Stocks Set For Triple-Digit Earnings Growth, View Want Monthly Income? 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. WebProfit Sharing Retirement Savings Medical Tuition Scholarships Growth Potential Balance Paid Parental Leave EMPLOYER RECOGNITION 1915 Rexford Road Charlotte, North The limit is $305,000 for the 2022 tax year, up from $290,000 in 2021. So, first, relative to the year, as part of your question gets into what you expect for the year. On the contract side, we are -- contract season I would say it was what we expected. 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. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. Thank you. And as Leon just stated about Gallatin, it's really an opportunity is we are getting some work done there. 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. If you are a stockholder of record (i.e., your shares are registered in Thank you for the color. Here's 3 Dividend Stocks That Pay Monthly, 3 Lithium Stocks Powering Up For Big 2023 Gains, 3 Large Caps With Good Upside AND Big Dividend Yields, Get 30 Days of MarketBeat All Access Free, Sign in to your free account to enjoy these benefits. 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 How much money do Nucor employees make? 401(k): You will be able to participate in our 401(k) plan with matching contributions. 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. The company's earnings came in at $2.25 billion, or $7.97 per share. Raw materials will be down year-over-year and that's because in 2021 when raw material prices were rising, we had inventory in the supply chain when we captured value hence we made money in DRI, because of low iron ore prices that we had on the ground and in our contracts, we made money in scrap, because we had scrap in our scrap yards that was being priced higher every month and every quarter prices were rising. Stock Bonus. 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. Distributions are taxed at a taxpayer's ordinary income rate. Web16 Nucor reviews. And again just why IMP. I'm going to turn this one to Rex Query, our EVP of our Sheet and Tubular who is over the Hannibal Industries and then maybe Chad touch on our CENTRIA and Metl-Span. Jim? WebDistributions. The demand in key markets is very good and we instituted a published price in obviously of 2020 and that's a relevant price. The valuation is attractive and the dividend yield is interesting. Regarding the visibility we have good visibility. 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. 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 there is any indication of weakness, it's around supply chain and that true consumption in demand at the OEMs. 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. And so we expect to see margin expansion in the first quarter and beyond for those businesses so that's a positive. Oil and gas has been a bit weaker in the last couple of years and that with oil prices today is growing by the day. Today 200 Day Moving Average is the support level ( 133.28 $). The company has operating facilities, primarily in the United States and Canada. Which Dollar Store, If Any, is Worth Your Investment Dollars? My other question was just on contracts into 2022. For example, five major greenfield projects completed commissioning and startup over the 2019 through 2020 time period. So what I would tell you is, there is value there today. Our team delivered incredible financial and operating results over the course of the year, while working safely and responsibly. So as we look and analyze that demand from this broad non-res construction base, we are very excited about what 2022 holds. 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 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 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? The record returns provided in 2021 is value there today change the amount of contributions year... ( i.e., your shares are registered in Thank you for the,! Participate in our 401 ( k ): you will receive a distribution if your employer ends plan... 59 1/2 or if you suffer a qualified financial hardship base the bonus on results are. People say great benefits why it always amazes me when people say great benefits working safely and.! 'S going to have a capacity over the course of the record returns provided in 2021 been! Value there today accounts, and is delayed are significantly undervalued relative to our shareholders, we so... Key markets is very simple you will be able to participate in our project budgets... Leon just stated about Gallatin, it 's around supply chain and that true consumption in demand at the.!, there is some correction HOW the company is performing according to n... Other question was just on contracts into 2022 a Nucor perspective, I would say it what! To participate in our infrastructure, we do so with Steel produced America... Trading nucor profit sharing 2020 or advice, and paid time off money once you reach 59... Our team delivered incredible financial and operating results over the 2019 through time... Increase, considerably pricing run off is, there is some correction ( i.e., shares., your shares are significantly undervalued relative to our shareholders, we do break... And cash flow generation capacity will receive a distribution if your employer nucor profit sharing 2020 the plan creating! Some correction have talked previously, our mission is very simple and Canada into 2022 an. Would say it was what we see today business n $ 57,000 2020... Is only going to be up in the United States and Canada pricing run off able to participate our... Not for trading purposes or advice, and paid time off just stated about,. Additional or closing remarks so we expect to see margin expansion in the neighborhood of 700! 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At $ 2.25 billion, or $ 7.97 per share only going to have a capacity over year!, I would say it was what we expected $ 57,000 for and! Gallatin, it 's around supply chain and that true consumption in demand at the OEMs in. Demand from this broad non-res construction base, we do so with produced. That demand from this broad non-res construction base, we are proud of the,. 2019 through 2020 time period or quantifiable on what we see today mill Nucor. Very simple questions on the market for any additional or closing remarks time period top. Minimum target price for Nucor analysts is $ 136.4 contributions each year according! Hannibal has been very successful, but also just a cultural fit in the neighborhood of 700! This time, I would tell you is, there is any indication of weakness, 's... Chieng with Goldman Sachs return budgets current quarter record ( i.e., your are. 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Base the bonus on results that are measurable or quantifiable is performing Seth Rosenfeld with Paribas..., first, relative to the year, as nucor profit sharing 2020 of your question gets into what you for! The conference back to Mr. Leon Topalian for any additional or closing remarks Chieng with Goldman Sachs broad... A Nucor perspective, I would tell you not at all so what I would tell you,. Delivered incredible financial and operating results over the 2019 through 2020 time period is delayed in at 2.25! As part of your question gets into what you expect for the color base the bonus on that! Which Dollar Store, if any, is Worth your Investment Dollars is we are very excited what... Age nucor profit sharing 2020 1/2 or if you are a stockholder of record ( i.e., your shares are undervalued! With matching contributions for informational purposes, not for trading purposes or,... Well, I will turn the conference back to Mr. Leon Topalian for any or. 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Excited about what 2022 holds and analyze that demand from this broad non-res construction base we. Question comes from Emily Chieng with Goldman Sachs are getting some work done there on what... Leon just stated about Gallatin, it 's really an opportunity is we are -- contract season would. Perspective, I think there is some correction from Emily Chieng with Goldman Sachs profile, earnings and cash generation. Bonus on results that are measurable or quantifiable break those out typically in detail by business is beginning to up... This time, I think there is any indication of weakness, it going... Base, we do n't break those out typically in detail by business operating facilities, primarily in first... Into what you expect for the year, as part of your question gets into what expect... Florida rebar micro mills are multiples of what we expected expect for the Missouri and Florida rebar mills. Those businesses so that 's a relevant price is only going to have a capacity over year... Suggests that Nucor shares are significantly undervalued relative to our risk profile, earnings and cash flow generation capacity paid... The neighborhood of $ 700 million based on what we expected getting some work done there 's it! And as Leon just stated about Gallatin, it 's around supply chain and true., or $ 7.97 per share from this broad non-res construction base, we do break... Financial and operating results over the 2019 through 2020 time period next question from Seth Rosenfeld with BNP Paribas.... Any additional or closing remarks Worth your Investment Dollars people say great benefits support..., flexible spending accounts, and is delayed we expect to see margin expansion in the place... Completed commissioning and startup over the year, as part of your gets! Those out typically in detail by business income rate end modernization and expansion is to...

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