Nucor Stock Price, News & Analysis

Nucor Corporation (NYSE: NUE) has completed its acquisition of a majority stake in California Steel Industries (CSI), purchasing a 50% equity interest for $400 million. CSI can produce over two million tons of finished steel annually, serving key sectors like construction and energy. Nucor's Executive VP, Rex Query, emphasized that this acquisition strengthens their presence in the Western U.S. and expands their range of sheet products. This strategic move is expected to enhance Nucor's competitiveness in the steel industry.

Nucor Corporation (NYSE: NUE) plans a $290 million investment to enhance its Crawfordsville, Indiana steel sheet mill by adding a construction-grade continuous galvanizing line and a prepaint line. This initiative is expected to create 80 jobs and will take approximately two years, contingent on various approvals. The new galvanizing line will have a capacity of 300,000 tons annually, while the prepaint line will produce 250,000 tons per year. This expansion supports Nucor's strategy to grow its steel business and enhance its prepaint capabilities.

Nucor Corporation (NYSE: NUE) reported consolidated net earnings of $2.25 billion ($7.97 per diluted share) for Q4 2021, up from $2.13 billion ($7.28 per diluted share) in Q3 2021 and $398.8 million ($1.30 per diluted share) in Q4 2020. Full-year earnings reached $6.83 billion ($23.16 per diluted share) compared to $721.5 million ($2.36 per diluted share) in 2020. Consolidated net sales increased 81% to $36.48 billion in 2021. Nucor announced a cash dividend of $0.50 per share, marking its 195th consecutive quarterly dividend. Looking ahead, Q1 2022 expects slightly lower earnings due to decreased profitability in the steel mills segment.

Nucor (NYSE: NUE) invites stakeholders to join its live conference call on January 27, 2022 at 2 p.m. Eastern Time, discussing its fourth quarter earnings for the period ending December 31, 2021. Hosted by Leon Topalian, the call will cover the company's performance and include a Q&A session. Participants can access the call via the company's website. Nucor is North America's largest recycler and produces a wide range of steel products across multiple countries. An archived version will be available on the website post-event.

Nucor Corporation (NYSE: NUE) has announced plans to construct a new sheet mill in Mason County, West Virginia, expected to cost approximately $2.7 billion. This facility will enhance Nucor's ability to serve key markets, producing three million tons of steel annually with advanced capabilities, including a 76-inch tandem cold mill and galvanizing lines. The project is anticipated to create around 800 jobs and is set to have a lower carbon footprint than competitors. Construction is projected to take two years, pending regulatory approvals.

Nucor (NYSE: NUE) will host its fourth quarter earnings conference call on January 27, 2022 at 2 p.m. Eastern Time. The call will feature a review of Nucor's results for the quarter ending December 31, 2021, followed by a Q&A session. Interested participants can listen live via webcast at the provided links. Nucor is a leading manufacturer of steel products, with operations across the U.S., Canada, and Mexico, and is recognized as North America's largest recycler.

Nucor Corporation (NYSE: NUE) expects fourth quarter earnings to reach between $7.65 and $7.75 per diluted share, marking the highest quarterly earnings in its history, surpassing the previous record of $7.28 set in Q3 2021. Despite lower volumes caused by seasonal factors, the steel mills segment remains strong, while the steel products segment is projected to increase earnings due to robust demand in nonresidential construction. Raw materials earnings may decline due to margin compression. Nucor has repurchased 13.5 million shares at an average price of $111.63 per share thus far.

Nucor Corporation (NYSE: NUE) has announced it will acquire a majority ownership stake in California Steel Industries (CSI) through a $400 million cash deal for 50% equity from Vale and 1% from JFE Steel. This acquisition enhances Nucor's presence in the West Coast sheet steel market, aiming to increase internal shipments and expand its product portfolio. CSI produces over two million tons of finished steel annually, serving key industries such as construction and energy. This will be Nucor's second joint venture with JFE, following a collaboration in Mexico.