Nucor Stock Price, News & Analysis

On April 26, 2023, a coalition led by Nucor Corporation (NYSE: NUE) announced the draft of a global standard for measuring carbon emissions in the steel industry. The Steel Climate Standard, developed by the Global Steel Climate Council (GSCC), aims to provide a uniform protocol for steel producers worldwide. Nucor, recognized as a leader in reducing greenhouse gas emissions, reported significant achievements in emissions control, with GHG intensity less than half the global average.

Nucor emphasizes that utilizing recycled steel can reduce emissions substantially. The company advocates for a single emissions standard to facilitate investments in low-emission technologies, countering proposals that might favor traditional, more polluting methods of steel production.

Nucor Corporation (NYSE: NUE) reported strong financial results for the first quarter of 2023, with net earnings attributable to stockholders of $1.14 billion or $4.45 per diluted share. This marks a decrease from $1.26 billion ($4.89 per share) in Q4 2022 and $2.10 billion ($7.67 per share) in Q1 2022. Net sales reached $8.71 billion, similar to the previous quarter but down 17% year-over-year. Steel mill segment earnings improved, driven by higher margins and volumes, while steel products segment earnings decreased due to reduced pricing. The company anticipates increased earnings in Q2 2023, primarily from improved steel mill margins. Nucor maintains a strong financial position with $4.70 billion in cash and cash equivalents and plans to return capital to stockholders through share repurchases and dividends.

Nucor (NYSE: NUE) has scheduled a conference call to discuss its first quarter earnings for 2023, which ended on April 1, 2023. The call will occur on April 20, 2023, at 2:00 p.m. Eastern Time, hosted by Chair, President, and CEO Leon Topalian. Participants can join the call via a web link or through Nucor's official website. An archived version of the call will be accessible later on Nucor's site for those unable to attend live. Nucor is a major player in the steel industry and North America's largest recycler, manufacturing a variety of steel products and brokering metals and scrap materials.

Nucor Corporation (NYSE: NUE) has announced its first quarter 2023 conference call scheduled for April 20, 2023, at 2:00 p.m. Eastern Time. The event will feature an earnings review for the quarter ending April 1, 2023, hosted by Chair, President, and CEO Leon Topalian, followed by a Q&A session. Interested parties can access the live call via a provided link or through Nucor's official website. An archived version will also be available post-event for those unable to attend.

Nucor Corporation (NYSE: NUE) provided its earnings guidance for Q1 2023, anticipating earnings between $3.70 and $3.80 per diluted share. This marks a decline from Q4 2022's net earnings of $4.89 and Q1 2022's $7.67. The steel mills segment is expected to see increased profitability due to higher margins and volumes, particularly in sheet mills, while the steel products segment might experience a decrease in profitability due to slower construction activity. Consolidated net earnings are projected to decrease compared to Q4 2022 due to unfavorable intercompany eliminations and the absence of state tax benefits.

Nucor Corporation (NYSE: NUE) announced a one-year update on its West Virginia sheet steel mill project, now with an estimated net cash outlay of $3.1 billion, up from $2.7 billion due to inflation and additional infrastructure needs. The mill, expected to produce 3 million tons of sheet steel annually, will employ 800 full-time workers and 2,000 construction jobs. It aims to meet demands for sustainable, high-quality steel, especially in the Midwest and Northeast regions. Construction is set for 2-3 years post-permitting, with all state permits secured and federal permits underway.

Nucor Corporation (NYSE: NUE) announced plans to construct a new transmission tower production plant in Decatur, Alabama. This facility, adjacent to Nucor Steel Decatur, will mark the first of two planned plants, creating 200 full-time jobs. The plant will be highly automated and includes advanced galvanizing operations, enhancing Nucor's capabilities in utility infrastructure. This expansion aligns with increasing demand for utility infrastructure due to factors like renewable energy projects and federal government funding. Last year, Nucor established its Towers & Structures unit following the acquisition of Summit Utility Structures.