Nucor Stock Price, News & Analysis

Nucor Corporation (NYSE: NUE) announced an equity investment in Electra, a Colorado-based start-up focused on carbon-free iron production. Electra's innovative process uses renewable energy to refine low-grade iron ore into high-purity iron with zero carbon emissions. This investment aligns with Nucor's commitment to sustainability, as it aims to reduce greenhouse gas emissions in steelmaking. Nucor, a leader in electric arc furnace steel production, continues to invest in opportunities that further its sustainability goals and enhance its position in the steel industry.

Electra, a green iron startup, has partnered with Nucor Corporation (NYSE: NUE), the largest steel producer in the U.S., to enhance green steel production. This collaboration will scale Electra's Low-Temperature Iron (LTI) solution, which emits zero carbon dioxide using low-grade ores and renewable electricity. Nucor aims to lower its carbon emissions as part of its commitment to reducing greenhouse gas intensity by 35% by 2030. Doug Jellison from Nucor has also joined Electra's advisory board to support this initiative.

Nucor Corporation (NYSE: NUE) has joined the United Nations 24/7 Carbon-Free Energy Global Compact, becoming the first major industrial company to commit to this initiative aimed at accelerating global decarbonization of electricity systems. CEO Leon Topalian emphasized Nucor's legacy of producing low-carbon steel and its commitment to clean energy sources like wind, solar, and nuclear. The company is investing in projects to access 24/7 clean energy at its steel mills, including a strategic investment in NuScale Power Corporation (NYSE: SMR) for developing zero-carbon nuclear energy solutions.

Trane Technologies (NYSE: TT) is partnering with Nucor Corporation (NYSE: NUE) and U.S. Steel (NYSE: X) to purchase low-carbon steel for its HVAC solutions. This move aims to significantly reduce carbon emissions, with an annual reduction expectation of nearly 16,000 metric tons, equivalent to powering over 55,000 homes for a year. The steel purchased represents 20% of Trane's annual steel needs, and is 80% less carbon intensive than traditional steel. Trane aims for 50% net-zero steel procurement by 2030 and 100% by 2050.

Nucor Corporation (NYSE: NUE) will host an Investor Day on November 8, 2022, at 9:00 AM in New York City. The event will feature a live webcast available on Nucor's investor relations website, including presentation materials. A replay of the webcast will be accessible for 60 days post-event. Due to capacity limitations, in-person attendance is by invitation only, and institutional investors can request registration details via email. Nucor is a leading manufacturer of steel products in North America, with operations in the U.S., Canada, and Mexico.

Nucor Corporation (NYSE: NUE) announced third-quarter 2022 consolidated net earnings of $1.69 billion, or $6.50 per diluted share, down from $2.56 billion and $9.67 per diluted share in the previous quarter. Year-to-date earnings reached $6.35 billion compared to $4.58 billion in 2021. Net sales decreased by 11% to $10.50 billion, yet up 2% from the prior year. Shipments decreased 8% from the previous quarter. Economic uncertainty may impact future earnings, but Nucor aims for record annual earnings.

Nucor invites stakeholders to its third-quarter earnings conference call scheduled for October 20, 2022, at 2 p.m. Eastern Time. Hosted by Leon Topalian, the call will discuss Nucor's financial results for the quarter ending October 1, 2022, followed by a question-and-answer session. To participate, listeners can log onto the provided web links. An archive of the call will be available for those unable to attend live. Nucor is recognized as North America's largest recycler and a major manufacturer of steel products.

Nucor Corporation (NYSE: NUE) will host an Investor Day on November 8, 2022, at 9:00 AM in New York City. The event will feature remarks from Leon Topalian, Nucor’s Chair and CEO, along with insights on the company's strategy and updated mid-term financial targets. Due to limited capacity, in-person attendance is by invitation only. A live webcast will be available on Nucor's investor relations website, with a replay accessible for 60 days following the event. Further registration details will also be provided on the website.

Nucor Corporation (NYSE: NUE) announced plans to construct a new galvanizing line at its Steel Berkeley facility in South Carolina, with a total investment of $425 million. This project aims to enhance Nucor's capabilities in the automotive and consumer durables sectors, creating over 50 new jobs, and will have an annual capacity of approximately 500,000 tons. Construction is expected to commence by mid-2025. Additionally, Nucor plans another galvanizing line in the western United States, further diversifying its operations.