Nucor Stock Price, News & Analysis

Nucor Corporation (NYSE: NUE) reported record net earnings of $2.13 billion, or $7.28 per diluted share, for Q3 2021, up from $1.51 billion in Q2 2021 and $193.4 million in Q3 2020. Year-to-date, earnings reached $4.58 billion, significantly higher than $322.6 million in the same period last year. Consolidated net sales increased 17% to $10.31 billion compared to Q2 2021 and 109% compared to Q3 2020. The company repurchased 8.2 million shares and declared a cash dividend of $0.405 per share, marking its 194th consecutive quarterly dividend.

Nucor (NYSE: NUE) will host a live conference call for its third quarter earnings on October 21, 2021, at 2:00 p.m. Eastern Time. The call will provide an overview of its financial performance for the quarter ending on October 2, 2021, followed by a Q&A session. Interested participants can join the call via the provided web link. Additionally, an archive of the call will be available later on Nucor's website. Nucor is a leading steel manufacturer in North America, known for its extensive recycling operations and diverse metal products.

Brown Gibbons Lang & Company announces the sale of Grossman Iron and Steel Company to The David J. Joseph Company (DJJ), a subsidiary of Nucor Corporation (NUE). Although the specific transaction terms remain undisclosed, BGL's Metals & Metals Processing team served as the exclusive financial advisor. Grossman is a significant scrap metal processor in the Midwestern U.S., leveraging strategic, river-adjacent facilities. With a strong reputation built over 101 years, the company aims to maintain its position due to solid consumer and supplier relationships.

Nucor invites stakeholders to its third quarter earnings conference call on October 21, 2021, at 2 p.m. Eastern Time. The call, featuring President and CEO Leon Topalian, will review financial results for the period ending October 2, 2021, and include a Q&A session. Participants can access the live webcast through Nucor's website. An archive of the call will be available afterward on the same platform. Nucor is recognized as North America's largest recycler, focusing on steel production and related products.

Nucor Corporation (NYSE: NUE) announced the acquisition of a coil processing facility in Shelbyville, Indiana, expanding its Nucor Fastener division. This facility features an automated clean and coat line, STC furnaces, and wire drawing capabilities. Approximately 33 jobs will be created initially, with potential to double. The addition of bolt-making equipment aims to enhance offerings for automotive and industrial markets. Nucor continues to prioritize sustainability, with its fasteners made from 97% recycled content, significantly reducing greenhouse gas emissions compared to traditional methods.

Nucor Corporation (NYSE: NUE) announced two acquisitions through The David J. Joseph Company, enhancing its recycling capacity by 10%. Advantage Metals Recycling acquired Grossman Iron and Steel in St. Louis, Missouri, expanding its facilities to twelve. Trademark Metals Recycling is set to purchase Garden Street Iron & Metal in Fort Myers, Florida, increasing its facilities to twenty-six. These strategic moves aim to bolster Nucor's regional recycling platforms, aligning with its growth strategy to support rising steelmaking capacity along key river systems.

Nucor Corporation (NYSE: NUE) announced plans to build a $100 million melt shop at an existing bar mill in the Western United States, aimed at producing 600,000 tons of steel annually. This project will create approximately 140 new jobs and is expected to commence operations in 2024. The initiative is intended to bolster Nucor's market-leading position in steel bar production and address anticipated customer demand in the region. Nucor currently operates 15 bar mills across the U.S., with an annual production capacity of about 9.5 million tons.

Nucor Corporation (NYSE: NUE) has announced plans to construct a new three-million-ton sheet mill, aiming to serve customers in the Midwest and Northeast. The mill is estimated to cost $2.7B and will feature advanced capabilities, including an automotive galvanizing line. This expansion aligns with Nucor's strategy for profitable growth and aims to enhance service quality while maintaining a lower carbon footprint compared to competitors. Construction is expected to take two years following necessary approvals.