Nucor Stock Price, News & Analysis

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 An archived version of the call will be accessible later on Nucor's site for those unable to attend live.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 An archived version will also be available post-event for those unable to attend.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.

On February 21, 2023, Nucor Corporation (NYSE: NUE) announced a quarterly cash dividend of $0.51 per share, marking the company's 200th consecutive cash dividend. The dividend is payable on May 11, 2023 to shareholders of record by March 31, 2023. Nucor continues to demonstrate its commitment to returning value to shareholders while maintaining a robust operational presence across the U.S., Canada, and Mexico in the steel manufacturing sector. The company is recognized as North America's largest recycler, showcasing its dedication to sustainability and resource efficiency.

Nucor Corporation (NUE) reported record profits for 2022, achieving net earnings of $7.61 billion, or $28.79 per diluted share, marking a 24% increase from 2021. In Q4 2022, earnings were $1.26 billion, down from $1.69 billion in Q3 2022 and $2.25 billion in Q4 2021. The company returned $3.3 billion to shareholders through dividends and share repurchases, celebrating its 50th consecutive annual dividend increase. Despite a decrease in consolidated net sales by 17% in Q4, Nucor maintains strong financial health with $4.94 billion in liquidity and a stable outlook from major credit rating agencies.

Nucor Corporation (NYSE: NUE) will hold its fourth quarter earnings conference call on January 26, 2023, at 2:00 p.m. Eastern Time. The call, hosted by Chair and CEO Leon Topalian, will review the financial results for the quarter ended December 31, 2022, and include a Q&A session. Interested participants can access the live event at this link or via Nucor's website. An archive of the call will also be available after the live webcast for those unable to attend. Nucor operates across the U.S., Canada, and Mexico, specializing in steel and steel product manufacturing.

Nucor (NYSE: NUE) has introduced Elcyon™, a new sustainable heavy gauge steel plate product aimed at supporting the offshore wind energy sector. Produced at the $1.7 billion Nucor Brandenburg mill in Kentucky, Elcyon is designed to meet growing demands from wind energy producers, offering unique qualities such as improved weldability and fracture toughness. The facility aims to meet 97% of the domestic plate market and expects an annual output of 1.2 million tons. The recent Inflation Reduction Act enhances prospects for offshore wind, potentially leading to 7.5 million tons of steel demand. Nucor emphasizes its commitment to sustainability through recycled steel production.