Nucor Stock Price, News & Analysis

Nucor Corporation (NYSE: NUE) anticipates record-breaking earnings for Q2 2021, estimating earnings between $4.60 and $4.70 per diluted share, exceeding the previous record of $3.10 in Q1 2021. The steel mills and steel products segments are projected to show strong profitability due to high demand and rising prices. However, an estimated $42 million non-cash impairment charge will impact earnings. Nucor has repurchased 6.7 million shares this quarter, returning over $1.10 billion to shareholders in 2021.

Nucor Corporation (NYSE: NUE) announced a quarterly cash dividend of $0.405 per share, reflecting its commitment to returning value to shareholders. This dividend, marking the 193rd consecutive payment, is scheduled for August 11, 2021, to stockholders on record by June 30, 2021. Nucor, a leading manufacturer of steel products, operates in the U.S., Canada, and Mexico, producing a wide range of steel products and functioning as North America's largest recycler.

Nucor Corporation (NYSE: NUE) announced its acquisition of Cornerstone Building Brands' insulated metal panels (IMP) business for $1 billion, effectively $900 million after tax benefits. This strategic move aims to expand Nucor's product offerings in the growing non-residential market, particularly in energy-efficient IMP solutions. The transaction, expected to close later this year, enhances Nucor's strong financial position and integrates seven manufacturing facilities across North America. The demand for IMP products is projected to grow at double-digit rates, driven by trends in e-commerce and data center expansions.

Nucor Corporation (NYSE: NUE) has authorized a new share repurchase program of up to $3.00 billion, replacing the previous $2.00 billion plan. Approximately $1.55 billion of stock was repurchased under the former program since its inception in 2018. The company will conduct buybacks in the open market or through private transactions, with no expiration date for the new authorization. The timing and amount will depend on market conditions and share price.

Nucor Corporation (NYSE: NUE) announced a $58 million investment to upgrade its engineered bar mill in Nebraska, enhancing production capabilities for the automotive sector. The project includes a new reheat furnace and increased surface quality for engineered bar products, expected to be operational by Q4 2022. This upgrade aims to align product offerings with customer demand, further diversifying supply while reinforcing Nucor's leadership in the engineered bar market. The Nebraska facility has been operational since 1973, employing 500 workers.

Nucor Corporation (NYSE: NUE) reported a record quarterly consolidated net earnings of $942.4 million, or $3.10 per diluted share, for Q1 2021, significantly up from $398.8 million in Q4 2020 and $20.3 million in Q1 2020. Consolidated net sales rose 33% to $7.02 billion compared to Q4 2020. The company expects Q2 2021 earnings to surpass Q1 results, driven by improved pricing and solid demand across key markets. Nucor repurchased 5.4 million shares at an average price of $56.11 per share, maintaining a strong financial position with $2.98 billion in cash and equivalents.

Nucor invites stakeholders to its live conference call on April 22, 2021, at 2 p.m. Eastern Time, to discuss its first quarter earnings results ending April 3, 2021. The call, hosted by President and CEO Leon Topalian, will include a review of financial performance and a Q&A session. Participants can access the call via the Nucor website or through the provided link. An archive of the conference will also be available post-event. Nucor is a leading manufacturer of steel and steel products across North America.

Nucor Corporation (NYSE: NUE) announced the retirement of Raymond S. Napolitan, Jr., Executive Vice President of Engineered Bar Products and Digital, effective June 5, 2021. With 25 years at Nucor, Napolitan has significantly impacted the company's growth and profitability. He began his career in 1996, taking on various leadership roles, including President of American Buildings Company. Nucor's President and CEO, Leon Topalian, praised Napolitan's dedication to safety and leadership. A succession plan will be disclosed at a later date.