I am extremely proud of all of our teammates who are working so hard on all of these projects as they are prime examples of Nucor's continued execution of our mission to grow the core, expand beyond and live our culture. View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. The location along the Ohio River provides Nucor with important transportation and logistics advantages in serving the country's two largest sheet steel consuming regions in, the Midwest and Northeast, two areas where Nucor is currently under-represented. As we mentioned and have talked previously, our mission is very simple. We are also expanding our presence in the Western U.S. As we conclude our call today, I just want to thank the entire Nucor family for delivering the safest year in our history and the most profitable year in our history. Thanks Seth. So you saw demand increase, considerably pricing run off. Our team delivered incredible financial and operating results over the course of the year, while working safely and responsibly. Yes, thank you, Leon. Net income for 2021 was $6.8 billion and full year earnings per share was $23.16, which were both notable increases over the prior records we'd set in 2018 with $2.4 billion of net income and an EPS of $7.42. If you use our chart images on your site or blog, we ask that you provide attribution via a "dofollow" link back to this page. But when you think about the sheet market overall, our EBITDA for the year could approach the level we achieved last year, because our EBITDA ramped dramatically from the first quarter of last year to the end of last year. I know that there was a lot of chatter about moving to shrink the discounts against CRU. So the raw material segments will be a small tailwind, a strong headwind, excuse me, and depreciation and amortization is going to be higher. That easily beat 2020s $721.5 million in net 3.285 2.02%. As of 2022, the contribution limit for a company sharing its profits may not exceed the lesser of 100% of your compensation or $61,000. The steel product segment is expected to achieve further margin expansion and profitability in the first quarter of 2022 as backlog pricing continues to improve. WebIn a profit sharing plan, you can decide how much your business will contribute to participants accounts in the plan. And if you think about Nucor's 55% return on equity, a large piece of that was attributable because of the sheet group. No North American producer is better positioned than Nucor to continue leading in these areas. Thank you, Chad. That value will continue to increase. And of course, we had a fairly robust M&A pipeline. Congrats again, and thank you. At the same time, I would tell you over the last 12 or 18 months, particularly as we move through the last contract season, Nucor has been very disciplined about our approach into the marketplace and how we want to transact. Adding this amount to teammate profit sharing over the course of the last five decades Nucor's allocated a total of about $3.8 billion in profit sharing to our team members. Our visibility into that market is extremely good and the demand picture is very strong. The limit on employee elective deferrals (for traditional and safe harbor plans) is: $22,500 in 2023 ($20,500 in 2022, $19,500 in 2021 and 2020; and $19,000 in 2019), subject to cost-of-living adjustments. I will also comment on Hannibal and the racking that leadership team and that includes the existing there and the ones we have added from Nucor. And so we would expect that we need to keep investing and returning capital to investors both and we have the capacity to both as we go forward. We are not seeing the benefits from the infrastructure believe that's still coming. And then my second question will also be just kind of bigger picture, the focus on potential capacity curtailments has been on the blast furnace side, but I presume technology today on the flat [Technical Issues] side has improved pretty considerably since the late 1980s. Yeah, thanks, Emily. So in March we will commission the EAF, LMF and the caster and by the end of March we will be capable of full production at that point with a wider strip and a thicker slab, but we are going to keep an eye on the market and will really measure that ramp up as we see what market conditions are doing at Gallatin. With our team's disciplined focus on execution and Nucor's financial and operational strengths, we expect to realize very attractive returns on our investments. Can you talk a little bit about how good your visibility is for sheet in particular and what you are looking for in order to ramp up Gallatin like what conditions, is it demand is it price or both? But the way the market is right now, we are going to start out at a much slower pace in the first quarter and it's going to depend on market demand. Yeah. Thank you. You mentioned you are hot band exposure in right now, we are looking at historically wide spreads between hot rolled and value-added products. The tax-avoiding companies represent various industries and collectively enjoyed almost $40.5 billion in U.S. pretax income in 2020, according to their annual financial reports. Please check your download folder. These returns were of course funded by our strong cash provided by operating activities, also a new record of $6.2 billion. WebProfit Sharing Retirement Savings Medical Tuition Scholarships Growth Potential Balance Paid Parental Leave EMPLOYER RECOGNITION 1915 Rexford Road Charlotte, North 06/15/1995. How should we think about that balance going forward in 2022 and perhaps what does the next chapter of your growth strategy look like? Just again, stay tuned in the coming days. Billions could be poured into exploration companies searching for new U.S. deposits. It's all BS. We are not looking to move to 20% or 25% of our overall mix in automotive, but to be in that 10% to 12% range I think is probably about the right number today. Western countries are now scrambling for stable, renewable energy. The limit is $305,000 for the 2022 tax year, up from $290,000 in 2021. I think there's three things of Nucor's touched on over really the last year. Along the way, we are delivering a differentiated value proposition to our customers and expanding our relationships with them. Got it. (2020) 'Nucor Corporation Against Low-Cost Steel Imports'. And with the correction that we are seeing right now on the sheet side with with what you have seen in some of the pricing what led up to that is we entered 2020 with COVID and things started to contract and shut down and 2021 was the recovery so to speak from that standpoint. It's eight word, is to grow core, expand beyond and live our culture. While our 2021 performance unquestionably benefited from an exceptionally strong steel industry up cycle, Nucor's results were also fueled by our team's focus and commitment to safely meeting our customers' needs. In the past we seen a great tight relationship in plate and hot rolled, do you think that could break out right now or is there a reason to be bit more concerned looking into the middle of the year are for plate? View which stocks are hot on social media with MarketBeat's trending stocks report. Our teammates at these facilities have done stellar work, executing across the board on safety, product quality, and financial performance. You mentioned that you expect earnings to decline due to the lower flat roll margins, but was just wondering if you could talk about the order entry rate in January and how you see the volumes for the first quarter. Although Nucor believes they are based on reasonable assumptions, there can be no assurance that future events will not affect their accuracy. $0.07. In December, we announced an agreement to acquire a majority ownership stake of 51% in California Steel Industries for about $400 million. Yes, Satish. Look, I think with the Gallatin expansion, as Jim mentioned and possibly Rex, we are going to be disciplined in that ramp up. 401 (k) Plan. Over the years, the company has grown through acquisitions as well as by tapping new markets and expanding geographically. Hannibal Industries, our first step into the racking side, obviously we look for companies that are successful is our first approach for Nucor. And before I leave this topic, I just want to note that we believe we are seeing an acceleration of a transformation in our industry that has been underway for decades, forces driving economic efficiency and lower emissions in steel making. So, first, relative to the year, as part of your question gets into what you expect for the year. Of course, we are also mindful of our responsibility to shareholders. I will leave it at that. 21 June. Is Stellantis Stock a Value Investors Dream? They are tasked with growing that business. Yeah. Our next question comes from Carlos De Alba with Morgan Stanley. According to www.careerbliss.com, Nucor employees make an average of $70,000 annually. We are leveraging our competitive advantage to aggressively and opportunistically pursue value enhancing long-term growth. WebRockledge Yard Laborer - FL, 32955. The Two more major capital projects totaling just over $1 billion have entered start up in late 2021 and early 2022. Export data to Excel for your own analysis. So as we look and analyze that demand from this broad non-res construction base, we are very excited about what 2022 holds. And congratulations on the strong update today. Diluted earnings per share for the first quarter of 2022 will benefit from lower weighted average shares outstanding. So we are in the 80% range in overall target for us, so fairly typical from a volume standpoint as we finish up contract season for heading into 2022. This metric boils down to the overall profit that is left from the revenue that a company receives after taking out various operational line items like cost of goods sold, income tax expense, SG&A expense, etc. It'll be much closer to zero. And so we expect to see margin expansion in the first quarter and beyond for those businesses so that's a positive. They are the rolling mill modernization at our Ohio rebar mill, the hot band galvanizing line at our Kentucky sheet mill, the specialty cold rolling mill at our Arkansas sheet mill, the rebar micro mill in Missouri, and the rebar micro mill in Florida. My first question is on the steel mills segment. 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