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Nucor Corporation - NUE STOCK NEWS

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.

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Nucor Corporation (NYSE: NUE) has been awarded the GM Supplier of the Year for the fourth consecutive year, alongside the GM Overdrive Award for their collaboration on Econiq™, a line of net-zero carbon steel products. The awards highlight Nucor's strong partnership with GM, particularly under challenging steel supply conditions. Nucor stands out as the only electric arc furnace steelmaker to receive the Supplier of the Year distinction. GM's awards focus on sustainability, performance, and innovation, with Nucor positioned to support GM's net-zero carbon goals.

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Nucor Corporation (NYSE: NUE) anticipates record first quarter earnings between $7.20 and $7.30 per diluted share, compared to $7.97 in Q4 2021 and $3.10 in Q1 2021. The steel mill segment is expected to see a decrease in earnings due to reduced profitability in sheet mills, despite strong demand. The steel products segment may see increased earnings, driven by strong nonresidential construction demand. Nucor has repurchased approximately 4.3 million shares at an average of $115.35.

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Nucor Corporation (NYSE: NUE) announced the retirement of CFO Jim Frias effective June 11, 2022, with Steve Laxton set to succeed him. Frias, who has been with Nucor since 1991 and CFO since 2010, played a key role in achieving record performance in 2021, including over $10 billion returned to shareholders through dividends and repurchases. Laxton, with 19 years at Nucor, is recognized for his strategic thinking and financial expertise. The transition reflects Nucor's commitment to succession planning for stable leadership.

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Nucor Corporation (NYSE: NUE) has declared a quarterly cash dividend of $0.50 per share, marking its 196th consecutive quarterly dividend. The dividend is payable on May 11, 2022 to stockholders of record by March 31, 2022. Nucor is recognized as North America's largest recycler and manufactures a wide range of steel and steel products across the U.S., Canada, and Mexico.

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Nucor Corporation (NYSE: NUE) has completed its acquisition of a majority stake in California Steel Industries (CSI), purchasing a 50% equity interest for $400 million. CSI can produce over two million tons of finished steel annually, serving key sectors like construction and energy. Nucor's Executive VP, Rex Query, emphasized that this acquisition strengthens their presence in the Western U.S. and expands their range of sheet products. This strategic move is expected to enhance Nucor's competitiveness in the steel industry.

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Nucor Corporation (NYSE: NUE) plans a $290 million investment to enhance its Crawfordsville, Indiana steel sheet mill by adding a construction-grade continuous galvanizing line and a prepaint line. This initiative is expected to create 80 jobs and will take approximately two years, contingent on various approvals. The new galvanizing line will have a capacity of 300,000 tons annually, while the prepaint line will produce 250,000 tons per year. This expansion supports Nucor's strategy to grow its steel business and enhance its prepaint capabilities.

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Nucor Corporation (NYSE: NUE) reported consolidated net earnings of $2.25 billion ($7.97 per diluted share) for Q4 2021, up from $2.13 billion ($7.28 per diluted share) in Q3 2021 and $398.8 million ($1.30 per diluted share) in Q4 2020. Full-year earnings reached $6.83 billion ($23.16 per diluted share) compared to $721.5 million ($2.36 per diluted share) in 2020. Consolidated net sales increased 81% to $36.48 billion in 2021. Nucor announced a cash dividend of $0.50 per share, marking its 195th consecutive quarterly dividend. Looking ahead, Q1 2022 expects slightly lower earnings due to decreased profitability in the steel mills segment.

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Nucor (NYSE: NUE) invites stakeholders to join its live conference call on January 27, 2022 at 2 p.m. Eastern Time, discussing its fourth quarter earnings for the period ending December 31, 2021. Hosted by Leon Topalian, the call will cover the company's performance and include a Q&A session. Participants can access the call via the company's website. Nucor is North America's largest recycler and produces a wide range of steel products across multiple countries. An archived version will be available on the website post-event.

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Nucor Corporation (NYSE: NUE) has announced plans to construct a new sheet mill in Mason County, West Virginia, expected to cost approximately $2.7 billion. This facility will enhance Nucor's ability to serve key markets, producing three million tons of steel annually with advanced capabilities, including a 76-inch tandem cold mill and galvanizing lines. The project is anticipated to create around 800 jobs and is set to have a lower carbon footprint than competitors. Construction is projected to take two years, pending regulatory approvals.

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FAQ

What is the current stock price of Nucor Corporation (NUE)?

The current stock price of Nucor Corporation (NUE) is $116.58 as of December 20, 2024.

What is the market cap of Nucor Corporation (NUE)?

The market cap of Nucor Corporation (NUE) is approximately 27.6B.

What is Nucor Corporation's primary business?

Nucor Corporation is a leading manufacturer of steel and steel products, including carbon and alloy steel in sheet, bars, structural, and plate forms.

What are Nucor's core business segments?

Nucor's core business segments include steel mills, steel products, and raw materials.

How does Nucor contribute to sustainability?

Nucor offers Econiq™-RE, a steel product made with 100% renewable energy, to help reduce greenhouse gas emissions and support sustainable development.

What recent acquisitions has Nucor made?

Recent acquisitions include Skyline Steel LLC, Southwest Data Products, and Rytec Corporation, which expand Nucor’s product offerings and market presence.

How does Nucor support its financial health?

Nucor maintains a robust cash position and has a strong credit rating. The company focuses on strategic investments and returning capital to stockholders.

Who are Nucor's strategic partners?

Nucor partners with companies like Mercedes-Benz to supply low-embodied carbon steel and support sustainable supply chains.

What is Nucor's recycling achievement?

Nucor is North America's largest recycler and recycled approximately 19.2 million tons of scrap steel in 2012.

What is Nucor's market outlook for 2024?

Nucor expects solid performance in 2024 with ongoing investments in growth projects and a focus on sustaining high safety and financial standards.

What financial results did Nucor report in 2023?

Nucor reported consolidated net earnings of $4.52 billion for the full year 2023, with a strong cash position and robust return on equity.

Where can I find Nucor's latest financial announcements?

Nucor's latest financial announcements can be accessed via the Investor Relations section on the Nucor website.

Nucor Corporation

NYSE:NUE

NUE Rankings

NUE Stock Data

27.60B
233.22M
0.52%
79.51%
2.48%
Steel
Steel Works, Blast Furnaces & Rolling Mills (coke Ovens)
Link
United States of America
CHARLOTTE