Nucor Stock Price, News & Analysis

Nucor Corporation (NYSE: NUE) announced the election of David A. Sumoski as Chief Operating Officer, effective January 1, 2021. Sumoski, who joined Nucor in 1995, has held various leadership roles within the company. Additional promotions include MaryEmily Slate to Executive Vice President of Commercial, K. Rex Query to Executive Vice President of Sheet and Tubular Products, Douglas J. Jellison to Executive Vice President overseeing The David J. Joseph Company and Logistics, and Gregory J. Murphy to Executive Vice President of Business Services and General Counsel. These changes aim to enhance Nucor’s operational effectiveness.

Nucor Corporation (NYSE: NUE) announced the results of its Exchange Offers, which expired on December 16, 2020. Eligible Holders could exchange existing debt securities for new 2.979% Notes due 2055 and cash. By the Early Participation Deadline, $439,153,000 in notes were accepted. After the expiration, an additional $100,000 of 2037 Notes and $64,000 of 2043 Notes were tendered. Settlement for these notes is expected on December 18, 2020. The newly issued notes come as the company continues to manage its debt obligations effectively.

Nucor Corporation (NYSE: NUE) expects fourth quarter 2020 earnings between $1.15 and $1.20 per diluted share, up from $0.63 in Q3 2020 and $0.35 in Q4 2019. This includes a net benefit of $39.7 million, or $0.13 per share, from state tax credits. Improved earnings are attributed to higher pricing in sheet and plate mills, and strong results from bar and structural mills. Despite uncertainty from COVID-19, positive momentum is anticipated to continue into Q1 2021.

Nucor Corporation (NYSE: NUE) has announced pricing terms for its Exchange Offers, allowing eligible holders to exchange certain debt securities for new 2.979% Notes due 2055 and cash. As of the Early Participation Deadline on December 3, 2020, Nucor accepted $439,153,000 in Existing Notes and will issue $439,153,000 of New Notes alongside $180,302,355.85 in cash. The Exchange Offers will remain open until December 16, 2020, unless extended. Key details include interest rates, acceptance percentages, and potential adjustments to the principal amounts exchanged.

Nucor Corporation (NYSE: NUE) announced an increase in its quarterly cash dividend to $0.405 per share, payable on February 11, 2021, for shareholders of record by December 31, 2020. This marks Nucor's 191st consecutive dividend and highlights the company’s commitment to returning value to its investors. Notably, Nucor has raised its base dividend for 48 consecutive years and has returned approximately $6 billion to shareholders through dividends and share repurchases over the past decade.

Nucor Corporation (NYSE: NUE) has announced the early tender results of its Exchange Offers, allowing Eligible Holders to exchange existing debt securities for new notes due in 2055, up to a limit of $650 million. As of the early participation deadline on December 2, 2020, a significant amount of existing notes, including $106.57 million of 6.400% notes due 2037 and $161.80 million of 5.200% notes due 2043, were validly tendered. The Exchange Offers expire on December 16, 2020.

Nucor Corporation (NYSE: NUE) has initiated Exchange Offers to eligible holders, proposing to exchange up to $650 million of existing debt securities for new notes due 2055. The process involves various series of existing notes with differing acceptance priority levels. Eligible holders who participate before the Early Participation Deadline can receive an Early Participation Premium of $30 per $1,000 of existing notes exchanged. The offers will expire on December 16, 2020, unless extended. The exchange is subject to conditions, including issuance limits and regulatory compliance.

Nucor Corporation (NYSE: NUE) has signed a 15-year Virtual Power Purchase Agreement with EDF Renewables for 250 MWac of solar energy in Texas. This marks Nucor's first VPPA and the largest for the steel sector. The project aims to reduce Nucor's carbon footprint and expand clean energy in the region, with construction starting in summer 2022 and expected electricity production beginning in 2023. The agreement reflects Nucor's commitment to sustainable practices and will support local job creation.

Nucor Corporation (NYSE: NUE) announced its acquisition of Precoat Metals Corporation's paint line facility in Armorel, Arkansas. This facility boasts a capacity of approximately 250,000 tons per year and is strategically located near Nucor's existing steel mill. The acquisition aligns with Nucor's strategy to streamline procurement and expand its product offerings in the pre-painted sheet market, enhancing its competitive positioning in various sectors, including construction and transportation. The move underscores Nucor's commitment to adding value for customers while leveraging existing capabilities.