Welcome to our dedicated page for Nucor news (Ticker: NUE), a resource for investors and traders seeking the latest updates and insights on Nucor stock.
Nucor Corporation manufactures steel and steel products through steel mills, steel products and raw materials segments, with operating facilities in the United States, Canada and Mexico. Its recurring company updates cover quarterly earnings, shipment volumes, average selling prices, end-market demand, operating-segment performance, earnings guidance and conference-call materials.
Nucor news also includes capital return actions such as dividends and share repurchase authorizations, executive leadership and succession updates, and developments tied to carbon and alloy steel in bars, beams, sheet and plate; fabricated steel products; scrap processing; and raw-materials activities.
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.
Nucor Corporation (NYSE: NUE) announced the approval for a new rebar micro mill in the South Atlantic, marking its third facility of this kind. With a budget of $350 million and an annual capacity of 430,000 tons, the new mill aims to meet increasing rebar demand, particularly following the infrastructure spending bill. The company currently operates two other micro mills in Missouri and Florida, which opened in 2020. Nucor’s bar steel production capacity stands at approximately 9.5 million tons per year, serving various end markets across the U.S.
The Board of Directors of Nucor Corporation (NYSE: NUE) has announced a quarterly cash dividend increase to $0.50 per share, payable on February 11, 2022, to stockholders of record on December 31, 2021. This marks Nucor's 195th consecutive quarterly dividend and follows a tradition of annual increases for 49 years. Additionally, the company approved a new share repurchase program of up to $4.00 billion, replacing the previous $3.00 billion program, from which $2.33 billion had already been repurchased. Nucor has returned nearly $3.53 billion to stockholders year-to-date.
Nucor Corporation (NYSE: NUE) announced plans to add a blast and prime line to its new steel plate mill in Brandenburg, Kentucky. This addition will have an annual capacity of approximately 120,000 tons, enhancing the company's offerings for heavy plate products, especially for key markets such as military and infrastructure. The $1.7 billion investment is expected to create 400 jobs and will enable the mill to produce 97% of domestic plate products when it opens in Q4 2022.
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.
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