That makes sense. More and more companies as you guys know developers and owners, see the value and are focusing on the E in ESG and we have also watch the growth of IMP in Europe and we believe the U.S. market while currently about a $1 billion market for IMP, we believe that could grow in excess of $2 billion, so still on-boarding, still integrating, there are a few challenges to work through, but excited about the future. We are also expanding our presence in the Western U.S. And if you combine that with our backlogs that are very robust and in some cases they are all time record backlogs, so that's one dataset that we look at. Please go ahead, sir. Thank you. For all of 2021, Nucor reported net earnings of $6.83 billion, or $23.16 per diluted share, on $25.5 billion in sales. First year EBITDA for the Missouri and Florida rebar micro mills are multiples of what we originally projected in our project return budgets. We have noted in my comments that we are going to be doing some strong share repurchases in the first quarter. It's going to be an automotive capable and focused galv line with the additional or the extra high strength. They are tasked with growing that business. Yeah. Identify stocks that meet your criteria using seven unique stock screeners. (2020) 'Nucor Corporation Against Low-Cost Steel Imports'. Nucor annual net income for 2022 was $7.607B, a 11.95% Get daily stock ideas from top-performing Wall Street analysts. 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. That team has been in construction mode for quite some time now. The valuation is attractive and the dividend yield is interesting. We have performed in a really tight market for our customers and we have the interest in renewing contracts, that's what we saw for this season. We value our teammates and offer benefits packages that also include paid time off, parental leave, profit sharing, In that, as we reinvest in our infrastructure, we do so with steel produced in America the highest quality cleanest deal possible. I want to thank each of my Nucor team members for your daily commitment to safety, looking out for one another and I look forward to an even safer year in 2022. And speaking of those, as we move into 2022, we are not letting up when it comes to executing our strategy to grow our value-added product portfolio and expand into new product markets and geographic regions. So we expect to keep doing things to try and deal with that. We're proud to have been able to provide cash returns via dividends and share repurchases totaling about $3.8 billion in 2021 and in December to increase our regular quarterly dividend for the 49th year in a row this year by 23% to a rate of $0.50 per quarter. And I look forward to continuing the exceptional performance across all of our businesses in 2022. Nucor's consolidated net sales increased slightly to $10.36 billion in the fourth quarter of 2021 compared with $10.31 billion in the third quarter of 2021 and increased 97 percent A New Dividend King is Crowned 50 Years of Dividend Increases. It's not about adding capacity. You have much to be proud of. Okay. In December, we announced our plan to build a new rebar micro mill with annual capacity of 430,000 tons in the South Atlantic region. Earlier this month, we shipped our very first coil of Econiq to General Motors after having just launched this new line of steels this past October. Seth, I want to turn that to Al Behr, our EVP of Plate and Structural Group. We have talked about that quite a bit. And it starts with end market demand. We have finished the year close to $800. In addition, there are four initial steps for setting up a profit sharing plan:Adopt a written plan document,Arrange a trust for the plan's assets,Develop a recordkeeping system, andProvide plan information to employees eligible to participate. And in particular, if we think about our sheet group and their performance, the sheet group set a record in terms of shipments at over 11 million tons, generated over $6 billion in EBITDA performance. Thanks for taking the question. Today that's over a 110. We had going into it, some strength in the marketplace from a demand standpoint. Make no mistake. The steelmaker says its record earnings per diluted share of $7.42 is 24 percent higher than previous record earnings of $5.98 per diluted share reported in 2008.. But again the outlook and the demand picture across every end market the Nucor serves remains very robust, and again, we think this is going to work through the inventory rebalancing and position us well as we move forward. But end market demand remains strong. Jim anything you would add? While 2021 clearly revealed the earnings and cash generation power of Nucor's businesses, it also provided an opportunity for us to fully demonstrate Nucor's balanced capital allocation framework. Hannibal Industries, our first step into the racking side, obviously we look for companies that are successful is our first approach for Nucor. We look forward to continuing to offer Econiq to more customers, and of course, lower greenhouse gas emission steel across our product portfolio. Now that lead times are a lot shorter. Nucor gross profit for the twelve months ending December 31, 2022 was For a long time, we have been in that 1.5 million, 1.6 million ton a year range in the automotive side. Hannibal has been very successful, but also just a cultural fit in the first place. WebProfit Sharing. Your password must be at least 8 characters long and contain at least 1 number, 1 letter, and 1 special character. Congrats on a strong set of financial results as well as the safety record. Here's 3 Dividend Stocks That Pay Monthly, 3 Lithium Stocks Powering Up For Big 2023 Gains, 3 Large Caps With Good Upside AND Big Dividend Yields, Get 30 Days of MarketBeat All Access Free, Sign in to your free account to enjoy these benefits. But the thing we keep hearing right now is this is a short-term temporal correction in the underlying demand, much like Al mentioned in those sectors. We have much to look forward to as we progressed throughout this new year. WebRockledge Yard Laborer - FL, 32955. Part of Iversons vision was to capitalize on newly emerging technologies to produce steel at a lower cost, and in 1968 management decided to integrate back into the steelmaking business (Nucor Corporation, 2010). For Gallatin, and Rex you can add to this if you would like to. Separate question please on Econiq for the green steel brand. We have got two virtual power purchase agreements today that because of our balance sheet allow us to be able to do those things. 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. So, well, I think there is some correction. And then my second question is on the steel products segment. Our analysis suggests that Nucor shares are significantly undervalued relative to our risk profile, earnings and cash flow generation capacity. And so we are going to see increased demand from auto. I mean, we talk with our customers weekly. We are very, very excited. And in fact I would tell you we had more requests for increase volume. The biggest one being the sheet price correction that's really tied mainly to imports. Yeah. So the raw material segments will be a small tailwind, a strong headwind, excuse me, and depreciation and amortization is going to be higher. We have got one in Mexico now that's consuming substrate, part of the subsidy comes out of our Berkeley mill and we are getting ready announced another galv line soon. Capital spending is only going to be up in the neighborhood of $700 million based on what we see today. Just again, stay tuned in the coming days. 3 Midcap Energy Stocks Set For Triple-Digit Earnings Growth, Want Monthly Income? Diluted earnings per share for the first quarter of 2022 will benefit from lower weighted average shares outstanding. That's very helpful. So, the acquisition of CSI for us and having JFE as a second partnership in California and again majority shareholder in that operation, it's really exciting for us. 92% While we faced some short-term challenges with chemical supply and a portion of inadequately priced backlog at the time of acquisition, we are still very excited about our future in IMP. And before I turn the call over to Jim, I would like to congratulate the entire Nucor team on reaching new heights to achieve our safest and most profitable year in company's history. The forward-looking statements made in this conference call speak only as of this date and Nucor does not assume any obligation to update them either as a result of new information, future events or otherwise. Thanks Seth. Nucor Corporation is a leading producer of structural steel, steel bars, steel joists, steel deck and cold finished bars in the United States. Get short term trading ideas from the MarketBeat Idea Engine. CASH. In terms of the overall, where that ends up, I am not going to speculate, I would tell you that with a healthy functioning market, it's going to find its equilibrium. And so I am not going to detail out what the value is. So you saw demand increase, considerably pricing run off. We are seeing many of our construction, many of our OEM partners outside of automotive that are beginning to ask for this. To see all exchange delays and terms of use please see Barchart's disclaimer. Our crystal ball gets pretty fuzzy when we look out very much past the next month or so. Put the employee bonus plan in writing. Base the bonus on results that are measurable or quantifiable. Give incentives to employees to meet goals. Be clear on the WHAT, the WHY, and the HOW. Make sure everybody gets something. Make the financial reward a strong enough incentive. Is Does Magna International Earnings Warning Bad for EV Sales? We reduced our share count by more than 11% in 2021 even as we funded capital expenditures and acquisitions totaling approximately $3 billion to drive the next chapter of our growth story. To our customers, thank you for the trust and the partnership as we continue to build the capabilities required to differentiate Nucor as the supplier of choice. We are confident that 2022 will be another year of strong profitability for Nucor, fueled by continued strong end-use market demand for our wide range of steel and steel products, better margins in our steel product segment as pricing is now caught up with higher steel input costs and lower intercompany inventory revaluation expenses, reflecting flatter steel and raw material cost compared to 2021. I think there's three things of Nucor's touched on over really the last year. The new galvanizing line combined with Hickman's highly successful specialty cold rolling mill that's been in operation for more than two years uniquely positions our company among North American EAF steelmakers to provide the high strength lightweight steels that are increasingly in demand. These capabilities represent important competitive advantages for our company exemplifying Nucor's ability to meet the needs of our customers for high strength steels. Thank you very much. On December 16th, our Nucor Steel Arkansas Sheet Mill produced its first prime coil from its new generation 3 flexible galvanizing line. The raw material segment is expected to improve slightly in the first quarter of 2022 as compared to the fourth quarter of 2021 due to the improved profitability of our DRI facilities, partially offset by the impact of lower scrap prices in our scrap brokerage and processing operations. 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. Capital returns have averaged 58% of net income over the five-year period ending in 2021 and they were 55% of Nucor's net income for the year up 2021. We did not experience that as as a company. Akamai Technologies Earnings Sell-Off. Jim? 65 Day Avg Vol 1,846,352. Do you expect that spread to contract back to where it has been historically or do you think there is something special going on to keep those spreads wider than we have seen historically? For the full year 2021, Nucor reported consolidated net earnings of $6.83 billion, or $23.16 per diluted share, compared with consolidated net earnings of $721.5 At what point does a company become too large for profit sharing to make a difference in employee motivation? Got it. First, converting capacity utilizations, we don't break those out typically in detail by business. Hey, a couple of questions on the market. Net profit margin can be defined as net Income as a portion of total sales revenue. I will start Carlos. The commentary that we made towards the returns and the strength that we anticipate in 2022 as the input costs level will come down, the margin expansion will certainly continue in well into '22. 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