Welcome to our dedicated page for Nucor Corporation news (Ticker: NUE), a resource for investors and traders seeking the latest updates and insights on Nucor Corporation stock.
Nucor Corporation (NYSE: NUE) is a leading manufacturer of steel and steel products headquartered in Charlotte, North Carolina. With operations spanning the United States, Canada, and Mexico, Nucor is North America's largest recycler, having recycled approximately 19.2 million tons of scrap steel in 2012 alone.
Nucor's core business segments include steel mills, steel products, and raw materials. The steel mills segment, which generates the majority of the company's revenue, produces carbon and alloy steel in sheet, bars, structural, and plate forms. Besides steel manufacturing, Nucor operates international trading companies that buy and sell steel products globally.
In 2023, Nucor reported consolidated net earnings of $4.52 billion and demonstrated strong financial performance with a commitment to returning capital to stockholders. The company maintains a robust cash position, with $6.73 billion in liquidity at the end of the third quarter of 2023.
Nucor has made strategic acquisitions to expand its market presence and capabilities. Notable acquisitions include Skyline Steel LLC, Southwest Data Products, and Rytec Corporation. These acquisitions enable Nucor to diversify its product offerings, such as high-performance commercial doors and data center infrastructure, while enhancing its core steelmaking business.
On the sustainability front, Nucor has introduced Econiq™-RE, a steel product made with 100% renewable energy, aligning with its commitment to reducing greenhouse gas emissions. This innovation supports strategic partnerships, like the one with Mercedes-Benz, to deliver lower-embodied carbon steel.
Nucor's forward-looking growth strategy emphasizes investment in new product lines, maintaining high safety standards, and leveraging its market position to capitalize on steel-intensive megatrends. The company's ongoing projects and financial health position it well for sustained success and resilience in the evolving steel industry.
Nucor (NYSE: NUE) has provided guidance for Q4 2024, projecting earnings between $0.55 to $0.65 per diluted share, down from $1.05 in Q3 2024 and $3.16 in Q4 2023. The decline is primarily attributed to decreased earnings in the steel mills segment due to lower volumes and average selling prices. The steel products segment also expects decreased earnings, while the raw materials segment anticipates improvement.
The company has repurchased approximately 2.1 million shares at $149.81 per share in Q4, bringing the year-to-date total to 13.1 million shares at $168.75 per share. Nucor has returned over $2.73 billion to stockholders through share repurchases and dividends year-to-date.
Nucor (NYSE: NUE) has announced an increase in its regular quarterly cash dividend to $0.55 per share, payable on February 11, 2025, to stockholders of record on December 31, 2024. This marks Nucor's 207th consecutive quarterly dividend and represents the company's 52nd consecutive year of dividend increases since initiating dividend payments in 1973.
The company operates steel manufacturing facilities across the United States, Canada, and Mexico, producing a wide range of steel products including bars, beams, sheet, plate, and various construction materials. As North America's largest recycler, Nucor also engages in metal brokerage and scrap processing through its subsidiaries.
Nucor (NYSE: NUE) reported consolidated net earnings of $249.9 million, or $1.05 per diluted share, for the third quarter of 2024. Excluding non-cash impairment charges, adjusted net earnings were $353.0 million, or $1.49 per diluted share. Net sales decreased 8% to $7.44 billion compared to Q2 2024 and 15% compared to Q3 2023.
The company shipped approximately 6,196,000 tons to outside customers, a 1% decrease from both Q2 2024 and Q3 2023. Steel mill shipments decreased 3% compared to Q2 2024. The average scrap and scrap substitute cost per gross ton used was $378, down 5% from Q2 2024.
Nucor expects Q4 2024 earnings to decrease compared to Q3 2024, primarily due to lower average selling prices and decreased volumes in the steel mills segment. The company repurchased approximately 2.5 million shares during Q3 2024 and declared a cash dividend of $0.54 per share.
Nucor (NYSE: NUE) has announced its upcoming third quarter earnings conference call for 2024. The call, scheduled for October 22, 2024, at 10:00 a.m. Eastern Time, will be hosted by Leon Topalian, Nucor's Chair, President and Chief Executive Officer. The event will be accessible via webcast at https://app.webinar.net/ZWOgBAkj1mJ or https://nucor.com/.
The conference call will cover Nucor's financial results for the third quarter ended September 28, 2024, followed by a Q&A session. For those unable to attend the live webcast, an archived version will be available at http://www.nucor.com.
Nucor is a leading manufacturer of steel and steel products with facilities across the United States, Canada, and Mexico. The company produces a wide range of products, including carbon and alloy steel, hollow structural section tubing, electrical conduit, and more. Nucor is also recognized as North America's largest recycler.
Nucor (NYSE: NUE) has announced its upcoming third quarter earnings conference call for 2024. The event will take place on October 22, 2024, at 10:00 a.m. Eastern Time. Hosted by Leon Topalian, Nucor's Chair, President and CEO, the call will review the company's results for the quarter ended September 28, 2024, followed by a Q&A session.
Investors and interested parties can access the live webcast through Nucor's website or a dedicated webinar link. For those unable to attend, an archived version will be available on Nucor's website. Nucor, North America's largest recycler, is a major manufacturer of steel and steel products with facilities across the United States, Canada, and Mexico. The company produces a wide range of steel products and also operates in metal brokerage and scrap processing through its affiliates.
Nucor (NYSE: NUE) has announced guidance for its third quarter of 2024, expecting earnings to be in the range of $0.87 to $0.97 per diluted share. After adding back one-time non-cash charges of approximately $0.43 per diluted share, adjusted earnings are expected to be $1.30 to $1.40 per diluted share. This represents a significant decrease from $2.68 in Q2 2024 and $4.57 in Q3 2023.
The decrease is primarily due to lower average selling prices in the steel mills and steel products segments, as well as lower volumes in the steel products segment. Nucor has repurchased approximately 2.5 million shares at an average price of $156.07 per share during Q3, bringing the year-to-date total to 11.0 million shares at an average price of $172.36.
Nucor (NYSE: NUE) has announced its 206th consecutive quarterly cash dividend. The Board of Directors declared a regular quarterly cash dividend of $0.54 per share on Nucor's common stock. This dividend will be payable on November 8, 2024, to stockholders of record on September 27, 2024.
Nucor is a leading manufacturer of steel and steel products, with operations in the United States, Canada, and Mexico. The company produces a wide range of steel products, including carbon and alloy steel in various forms, as well as related products like steel fasteners and metal building systems. Notably, Nucor is recognized as North America's largest recycler.
Nucor (NYSE: NUE) reported consolidated net earnings of $645.2 million, or $2.68 per diluted share, for Q2 2024. This represents a decrease from $844.8 million in Q1 2024 and $1.46 billion in Q2 2023. Net sales decreased 1% to $8.08 billion compared to Q1 2024 and 15% compared to Q2 2023. The company's average sales price per ton decreased 2% from Q1 2024 and 11% from Q2 2023. Nucor shipped approximately 6,289,000 tons to outside customers, a 1% increase from Q1 2024 but a 5% decrease from Q2 2023. The company's cash position remains strong with $5.43 billion in cash and cash equivalents. Nucor continues to focus on its long-term growth strategy and has returned over $1.7 billion to investors through June 2024.
Nucor (NYSE: NUE), North America's largest recycler and a leading steel manufacturer, has announced its second quarter earnings conference call for 2024. The event, hosted by Chair, President, and CEO Leon Topalian, is scheduled for July 23, 2024, at 10:00 a.m. Eastern Time.
The call will review Nucor's results for the quarter ended June 29, 2024, followed by a Q&A session. Investors and interested parties can access the live webcast through Nucor's website or a dedicated webinar link. An archived version will be available for those unable to attend the live event.
Nucor operates facilities across the United States, Canada, and Mexico, producing a wide range of steel products including bars, beams, sheet, plate, tubing, and more. The company also engages in metal brokerage and scrap processing through its subsidiaries.
Nucor (NYSE: NUE) invites stakeholders to its live conference call on July 23, 2024, at 10:00 a.m. Eastern Time, hosted by CEO Leon Topalian. The call will review Nucor's financial results for the second quarter ending June 29, 2024, and will include a Q&A session. Participants can access the event online via the provided links. An archived version will be available for those who cannot attend live. Nucor, North America's largest recycler, manufactures a wide range of steel products and operates in the U.S., Canada, and Mexico. The company also brokers ferrous and nonferrous metals and processes scrap material.
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