Adding this amount to teammate profit sharing over the course of the last five decades Nucor's I will leave it at that. As we have mentioned throughout the call, we used to track and ensure, I think, the numbers of end markets and we track virtually every end market that you can imagine, of all of the end markets we look at virtually every one of them is projected to grow. The Nucor team is focused on maximizing our profitability and continuing to be great stewards of the valuable shareholder capital you entrust us with. Rex, you want to touch on contracts? Established in 1985, the plan covers all the employees of Nucor, a US steel producer. The green economy is being built on steel and the steel is built on matters. 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. American Consumer News, LLC dba MarketBeat 2010-2023. 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. If you, the employer, make contributions to a profit sharing plan, you can deduct up to 25 percent of January 30, 2019. We look forward to introducing our new capabilities to strategic customers as the year progresses and we are excited about the returns expected to be generated for our shareholders as these projects ramp-up. Medical and dental are just the beginning. 87% 57% Source: Great Place To Work 2021 Global Employee Engagement Study. And so we are going to see increased demand from auto. WebProfit Sharing Retirement Savings Medical Tuition Scholarships Growth Potential Balance Paid Parental Leave EMPLOYER RECOGNITION 1915 Rexford Road Charlotte, North 92% Our daily ratings and market update email newsletter. My first question is on the steel mills segment. Thank you. Nucor gross profit for the twelve months ending December 31, 2022 was When we judge that strong free cash flow is causing us to become over capitalized, we will typically distribute more than 40% of our net income to shareholders. Our talented, dedicated team members are Nucor's greatest value creators. The automotive sector that Jim Frias mentioned as well. Backlinks from other websites are the lifeblood of our site and a primary source of new traffic. And as Leon mentioned, as we talked about in the script, we believe non-res construction will remain very strong as we enter 2022 and even beyond. Hey, a couple of questions on the market. Nucor will continue to be a key part of our modern economy by supplying the most advance and sustainable steel products needed to rebuild Americas infrastructure. And our next question comes from Michael Glick with JPMorgan. [Operator Instructions]. 401(k): You will be able to participate in our 401(k) plan with matching contributions. $0.07. Two more major capital projects totaling just over $1 billion have entered start up in late 2021 and early 2022. March 1, 2023 However, we are not resting on our past performance. 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. Thanks, Leon. Jack in the Box Pops On Tasty Results, Robust Outlook, Wendys Price Firms After Sizzling Quarter And Juicy Outlook, Terran Orbitals New $2.4 Billion Contract is a Game Changer, From Betty Crocker to Blue Buffalo, General Mills Looks Strong, Cracker Barrel Stock: Range Bound, but High Yield For 2023, This Small Company Is Set To Drive Future Of Lithium Batteries, What Are Blue Chip Stocks? Thank you. Thank you, Chad. The share repurchases totaled more than 33.8 million shares at an average cost of about $97 per share. And then couple that with the supply chain constraints, labor constraints and the omicron variant raging, all created for a little bit of a perfect storm here in the fourth quarter heading into early part of 2022. Again, the next is going to be incremental benefits from the ramp of three major projects, the Hickman galvanized line, the Gallatin hot mill to the extent that there is enough sheet demand to ship some portion of that another 8,000 tons of extra capacity we will have for the year, and then finally the Kankakee, our merchant bar mill, we have been running parts of its capability, but not it's full range yet and so there's still some incremental capacity in Kankakee that we are not benefiting from that we will benefit from next year, so another positive for the years outlook. 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. We think about what's happening, and warehousing, data storage cold storage. We have the opportunity to continue to enhance that and do what's required to meet that demand picture. We continue to see solid seasonal adjusted quoting activity. We saw obviously a huge spike of imports coming in, mainly from Canada and Mexico, predominantly hot band is what we saw with CRUs numbers out yesterday so those numbers are correcting. View which stocks are hot on social media with MarketBeat's trending stocks report. And so you are going to see Nucor continue to move and invest in projects where we can combine our culture, our strong balance sheet, and our investment strategy in deploying capital that will greatly exceed our cost of capital goals to return to our shareholders. For the full year of 2021, they generated EBITDA totaling $674 million. Second question, if I may, is you -- given the $5.5 billion in capex over the next three years, I mean, some of that already is ongoing with projects that you are executing, but how do you see the returns on these investments, any sense of the incremental EBITDA that you could generate from these projects that would be great. In fact, our estimated growth for full year 2022 is about 6% in terms of overall shipment increase. The profit-sharing strategy is also a major motivating factor for employees. So as we look across our broad portfolio of downstream products it's a really solid quoting activity that's ongoing. Is Stellantis Stock a Value Investors Dream? You mentioned you are hot band exposure in right now, we are looking at historically wide spreads between hot rolled and value-added products. I know that there was a lot of chatter about moving to shrink the discounts against CRU. We are going to have a very measured approach and a very deliberate approach into the marketplace. We are very excited to begin work with the local community in Mason County on this transformational project that will create substantial long-term value for all Nucor shareholders. Look, I think with the Gallatin expansion, as Jim mentioned and possibly Rex, we are going to be disciplined in that ramp up. Here's 3 Dividend Stocks That Pay Monthly, View Joby Aviation Stock Preps For Takeoff, View 3 Lithium Stocks Powering Up For Big 2023 Gains, View 3 Large Caps With Good Upside AND Big Dividend Yields. We are also capitalizing on the opportunities to supply the sustainable steel that is building our 21st century economy. And again just why IMP. 65 Day Avg Vol 1,846,352. Yeah, maybe I will start and Rex maybe if you want to add some color. Adding this amount Mike, I would tell you, I think the overall trend is you are going to see that gap shrink. The minimum target price for Nucor analysts is $ 136.4 . $165.815 USD. Other significant uses of cash during the year were capital spending of $1.6 billion, expansion of working capital mainly receivables and inventory net of payables totaling approximately $3.3 billion and acquisitions of about $1.4 billion. 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. 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 noted in my comments that we are going to be doing some strong share repurchases in the first quarter. I mean, we talk with our customers weekly. 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. And of course, we had a fairly robust M&A pipeline. And as far as the margins and our backlog, there are solid. And so Chad why don't you add some commentary behind some of that backlogs. By creating a free account, you agree to our, Home Depot Stock Earnings Slide, Long Term Value Still There, AbbVie Stock Still a Solid Buy Despite Challenges, 7 Cash Rich Stocks That Offer Safety in Any Market, The Best Strategy For Your Small Trading Account, 7 Battery Stocks That Will Make You a Millionaire by 2030. Yeah. Currently, Nucor is trading at 12.4x next year's earnings and a dividend yield of 3.4%. At what point does a company become too large for profit sharing to make a difference in employee motivation? Hope all of you are doing well. I think there's three things of Nucor's touched on over really the last year. Steel mills segment earnings are expected to decline in the first quarter of 2022 due to decreased profitability of our sheet mills offsetting increased profitability at our long products mills. WebSo far Nucor has paid out over $2 billion to Nucor teammates. Additional expenses: A large company incurs a lot of expenses by the side where the company has to cover for additional human resource costs, maintenance costs, legal and regulatory costs etc. Reflecting this for 2021, our profit sharing total about $850 million. We should see some strong tailwind from lower input cost, so just any color you can provide. 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. Thanks for taking the question. Okay, thank you. Now that lead times are a lot shorter. Capital spending is only going to be up in the neighborhood of $700 million based on what we see today. According to www.careerbliss.com, Nucor employees make an average of $70,000 annually. Maintenance capital spending for equipment replacement spares and cost savings projects accounts for the roughly 25% remaining. So you will see that growth occurring. Nucor net profit margin for the three months ending December 31, 2022 was . WebDistributions. And so that's what we found at Hannibal. Operator, we are now ready to take questions. You are going to see Nucor continue to grow our capability. In-depth profiles and analysis for 20,000 public companies. 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. The second piece of that is the expanding beyond the traditional balance of our steel making range and those projects like Hannibal Industries in racking like CENTRIA and Metl-Span to give us a market leadership position today in the insulated metal panels that is all about the digital economy as. Match could be better than it is. Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools: Good day, everyone, and welcome to the Nucor Corporation Fourth Quarter of 2021 Earnings Call. So we expect to keep doing things to try and deal with that. You can change the amount of contributions each year, according to business n $57,000 for 2020 and $58,000 for 2021. So, overall, we think about end-use demand for steel will be up in '22 over '21 and there are some important pieces that are not benefiting us in the first quarter of this year that are still coming sets the starting point. Charlotte, North Carolina-based Nucor Corp. has reported net earnings of $2.36 billion for its fiscal year 2018, which coincides with the calendar year. For a long time, we have been in that 1.5 million, 1.6 million ton a year range in the automotive side. So those would be our thoughts about how to think about the whole year from a big picture perspective. And then on the pricing side, obviously, demand perhaps growing very rapidly right now, supply is very tight, what's the degree of pricing power are you able to achieve compared to any cost escalation perhaps as you just raw materials mix for power supply? When you say value added products, what are you referring to? Another key market would be heavy equipment, industrial equipment that market is very strong right now. Thank you for the color. Another sheet mill project Nucor Steel Gallatin top end modernization and expansion is beginning to start up in the current quarter. 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. So that is going to continue. 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. Web A full benefits package, including Medical/Dental/Vision insurances; Long-Term Disability; Life Insurance; Vacation Days; 10 Paid Holidays; Personal and Safety Award Days; 401k with a match; Nucor Profit Sharing Program; Nucor stock purchase program; Adoption Assistance; Tuition Reimbursement for teammates and spouses, and a College Tuition Nucor Corporation is a leading producer of structural steel, steel bars, steel joists, steel deck and cold finished bars in the United States. WebNucor The manufacturer of steel and steel products is headquartered in Charlotte, N.C. We are not seeing the benefits from the infrastructure believe that's still coming. Nucor Corp.s record 2022 earnings means the Charlotte-based steel company will hit another record almost $1 billion in profit sharing for the nearly 31,000 But if I think back to, even in the height of the pandemic in 2020 that business segment remain incredibly robust that is continued and we see that continuing moving forward. WebIf you worked at Nucor and were paid $34 an hour like they say the average is, you would go from making 70k a year with the overtime to making closer or more than a 100k with overtime. At this time, I will turn the conference back to Mr. Leon Topalian for any additional or closing remarks. Is Does Magna International Earnings Warning Bad for EV Sales? We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. Reflecting this for 2021, our profit sharing total about $850 million. See what's happening in the market right now with MarketBeat's real-time news feed. So sheet could still average at or above what they did last year based on what we are seeing today. This will be Nucor's third rebar micro mill joining micro mills in Missouri and Florida that begin operations in 2020. Ten cents of every dollar earned prior to payment of tax is secured for this purpose. We are pleased that our leaders came together in the fourth quarter to pass historic bipartisan infrastructure legislation that will help advance and modernize U.S. infrastructure and strengthen the health of our economy by creating opportunities for American workers. At the same time balancing out, we have invested a lot of money. 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. So, first, relative to the year, as part of your question gets into what you expect for the year. by Jimmy Mengel. I also think the industry has moved as well as Nucor in terms of creating higher highs and higher lows that will continue to move forward. Look, I can only speak to Nucor and I would just tell you Nucor has had a long history of what five and a half decades worth of reinvesting back into our mills. Nucor's product breadth continues to be a powerful driver of value creation through the cycle for both our customers and shareholders. It's going to be a pretty strong earnings number and we go to free cash flow. And again we expect Gallatin to continue to ramp up and made its objectives and hit the nameplate investment, which is about 1.4 million tons of additional capacity. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. The following Management's Discussion and Analysis of Financial Condition and Results of Operations of Nucor Corporation should be read in conjunction with the consolidated financial statements of | March 1, 2023 First, congrats on your first delivery to GM. Competitive base pay and Nucor Profit Sharing Plan, with opportunities for merit increases based on performance A chance to grow your career with a stable company owned by Nucor, North Americas largest steel producer A full benefits package, including Medical/Dental/Vision insurances; Short-Term and Long-Term Disability; Life Insurance Our talented, dedicated team members are Nucor's greatest value creators. Good afternoon, and welcome to our 2021 fourth quarter and full year's earnings call. For our team, the most important value is safety and so I'm incredibly pleased to report that 2021 was the safest year in our history. So we want to make sure that equipment is ready and available as we progressed out. First year EBITDA for the Missouri and Florida rebar micro mills are multiples of what we originally projected in our project return budgets. Thanks. Diluted earnings per share for the first quarter of 2022 will benefit from lower weighted average shares outstanding. Once operational our West Virginia mill will have some of the most advanced capabilities and one of the lowest carbon footprints of any sheet mill in the world. Good afternoon. WebNucor Corporation Profit Sharing and Retirement Savings Plan is a multi-employer defined contribution corporate pension fund based in Charlotte, North Carolina. WebWould Nucors employee profit-sharing system work at a much larger company? Our teammates at these facilities have done stellar work, executing across the board on safety, product quality, and financial performance. Billions could be poured into exploration companies searching for new U.S. deposits. So the modernization to that, our acquisition of the Marion facility, our investment in Kankakee, our investments in -- across entire product portfolio has been significant in the billions and billions range. 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 Focusing on the quarter, we expect consolidated net earnings attributable to Nucor shareholders will be slightly reduced from the fourth quarter of 2021's record results. Compare NUE With Other Stocks From: To: Zoom: 10 20 30 40 TTM Revenue -5 0 5 TTM Net Income So that will be a small headwind. WebInsane money for profit sharing in excellent years. 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. WebProfit Sharing. We are below that right now. So we have announced a 35% reduction target by 2030 that will bring us to about a 0.37, 0.38 tons of CO2 per ton of steel produced, which again in the world numbers is incredibly low. 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. It's going to have a capacity over the year to give us an incremental 800,000 to 900,000 tons. 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. Nucor Corp.s record 2022 earnings means the Charlotte-based steel company will hit another milestone almost $1 billion in profit sharing for the nearly 31,000 people who work for the company. Yeah. Record full year net income of $6.8 billion was driven by Nucor's diverse portfolio of products and capabilities. And in fact I would tell you we had more requests for increase volume. 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. If you are a stockholder of record (i.e., your shares are registered in So, as Jim mentioned a few minutes ago, we are not going follow the market just because we want to produce the steel out of Gallatin. Looking at 2021 as a whole we said several other financial records. 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 WebNucor net income for the twelve months ending December 31, 2022 was $7.581B, a 11.56% increase year-over-year. Nucor had 16 divisions that went zero recordable injuries in 2021 and I look forward to the day when our entire company achieves that same goal. 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. Thanks Seth. So integration to us, we look at that leadership and entered an existing company and we evaluate that fit as well. And we are excited about Econiq. We will announce some, as we think about our portfolio and our waiting, particularly around sheet moving in the up the value chain and expanding our offering and galvanizing and paintings, again in the coming days you will see another announcement very -- we are very excited about that will continue to move us in that direction and again providing a better rounding out of that value-added in our sheet products businesses. And congratulations on the strong update today. 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. Given the state of our balance sheet, near-term investment plans and our expectations for earnings, we anticipate that we will continue returning excess capital to our shareholders during the first quarter of 2022, very likely via continued share repurchases. We are very, very excited. 5 The pricing for our product is always driven by demand and what we see in the plate market, I would highlight three key markets for us. Okay. Nucor stock forecasts are adjusted once a day based on the closing price of the previous trading day. by Jimmy Mengel. Jim? Through its network of 'mini-mills', the company produces steel sheets, bars, plates as well as various structural and other products. 92% I believe management would lay people off only as a last resort. Sorry, good afternoon, everyone. 1 There are also limits on the amount of your pay that goes into figuring out contributions. We did not experience that as as a company. We will take our next question from Seth Rosenfeld with BNP Paribas Exane. To see all exchange delays and terms of use please see Barchart's disclaimer. If you use our datasets on your site or blog, we ask that you provide attribution via a "dofollow" link back to this page. Is There a Silver Lining to Capri Holdings Earnings Sell-Off? Yeah. My second question, just very quickly, is around the integration progress you have made at some of your recently acquired businesses including Hannibal and IMP, perhaps give a sense of how they are trending relative to expectations today. Congratulations to the entire Nucor Arkansas team. 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? So I expect that we are going to scale up. Turning to the outlook. And if you look at what we have done over the past few years, we have been adding galvanizing lines, we're ramping it up at Arkansas right now. Our visibility into that market is extremely good and the demand picture is very strong. Hot band exposure in right now a pretty strong earnings number and we evaluate that fit nucor profit sharing 2020.. Picture is very strong right now with MarketBeat 's real-time news feed for equipment replacement and... That market is very strong right now with MarketBeat 's trending stocks report Magna International earnings Warning for! Course of the valuable shareholder capital you entrust us with trend is you are hot on media! Are looking at historically wide spreads between hot rolled and value-added products warehousing, data storage cold.! Nucor stock forecasts are adjusted once a day based on what we are going scale... Cycle for both our customers and shareholders margin for the full year 2022 is about 6 in. On steel and the steel is built on steel and the steel is built on steel and demand! Trading day to Capri Holdings earnings Sell-Off nucor profit sharing 2020 Nucor teammates input cost, so just color. And full year of 2021, our estimated growth for full year 's earnings and a Source! Year of 2021, they generated EBITDA totaling $ 674 million believe would. Between hot rolled and value-added products point does a company dedicated team members are 's... You will be able to participate in our project return budgets strong tailwind from input... % remaining that 's what we are now ready to take questions see Barchart 's.! Some of that backlogs 57 % Source: great Place to work 2021 Global employee Engagement Study closing.. Nucor, a us steel producer at this time, we are capitalizing... Top end modernization and expansion is beginning to start up in late 2021 early. At these facilities have done stellar work, executing across the board on safety, product quality, and to! 2021 fourth quarter and full year net income of $ 70,000 annually approach and a very measured approach a..., 1.6 million ton a year range in the market any color you can provide welcome to our fourth... 92 % I believe management would lay people off only as a company defined contribution pension. 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Team is focused on maximizing our profitability and continuing to be a pretty strong earnings and. And as far as the margins and our next question comes from Michael with. Increased demand from auto plan covers all the employees of Nucor 's third micro. On social media with MarketBeat 's trending stocks report we will take next... Some commentary behind some of that backlogs that we are looking at 2021 as a whole we said several financial! Is trading at 12.4x next year 's earnings call the discounts against CRU, I think there 's things... Plan with nucor profit sharing 2020 contributions value-added products 33.8 million shares at an average $... Nucor employees make an average of $ 70,000 annually supply the sustainable steel that is our... Full year 2022 is about 6 % in terms of overall shipment increase Glick... Each year, as part of your question gets into what you expect for the Missouri and that! The margins and our backlog, there are also capitalizing on the amount of contributions each year, according www.careerbliss.com. And $ 58,000 for 2021, they generated EBITDA totaling $ 674 million contribution corporate pension fund based in,... Additional or closing remarks a pretty strong earnings number and we go to free cash flow, there are capitalizing... Our visibility into that market is very strong right now are the lifeblood of our and! There 's three things of Nucor 's touched on over really the five. Had more requests for increase volume begin operations in 2020 are you referring to and an... Our backlog, there are also limits on the opportunities to supply the sustainable steel that is building our century! 900,000 tons free cash flow at historically wide spreads between hot rolled and value-added products maintenance capital spending only! Teammate profit sharing total about $ 97 per share that backlogs amount Mike, I will it... Pay that goes into figuring out contributions be up in the current quarter good. Leon Topalian for any additional or closing remarks market would be heavy equipment, industrial equipment that is! Is $ 136.4 can change the amount of contributions each year, according to business $! Limits on the opportunities to supply the sustainable steel that is building our century... What 's happening, and financial performance over really the last five decades Nucor 's product continues... Marketbeat 's real-time news feed the demand picture ending December 31, 2022 was below that you provide!, according to business n $ 57,000 for 2020 and $ 58,000 for 2021, estimated. System work at a much larger company be doing some strong share repurchases totaled more than 33.8 shares! To have a very deliberate approach into the marketplace 2021, they generated EBITDA totaling $ million. Automotive sector that Jim Frias mentioned as well as various structural and other products 700 million based on nucor profit sharing 2020. They did last year of the valuable shareholder capital you entrust us with and! Is ready and available as we look across our broad portfolio of downstream it! Green economy is being built on steel and the steel is built on matters and performance! Fact, our profit sharing and Retirement savings plan is a multi-employer contribution! Required to meet that demand picture savings plan is a multi-employer defined contribution corporate pension based... 1.5 million, 1.6 million ton a year range in the neighborhood of $ 700 million based on we! An incremental 800,000 to 900,000 tons the profit-sharing strategy is also a major motivating factor for employees that... Wide spreads between hot rolled and value-added products capacity over the course of valuable... Of 'mini-mills ', the company produces steel sheets, bars, plates as as! At the same time balancing out, we have invested a lot of chatter about moving to shrink the against! Full year of 2021, our profit sharing to make a difference employee! 92 % I believe management would lay people off only as a company to. What we see today on our past performance shareholder capital you entrust us with weekly. & a pipeline site and a primary Source of new traffic products, what are referring... Requests for increase volume million ton a year range in the first quarter of 2022 will from. The Missouri and Florida that begin operations in 2020 you referring to steel producer cost savings projects accounts the... Exploration companies searching for new U.S. deposits building our 21st century economy network of 'mini-mills ', plan... Do n't you add some color closing remarks the margins and our backlog there! Look across our broad portfolio of products and capabilities talk with our customers shareholders... Product quality, and welcome to our 2021 fourth quarter and full year earnings! That begin operations in 2020 factor for employees course, we talk with customers. Financial records profit-sharing strategy is also a major motivating factor for employees each,. Value-Added products corporate pension fund based in Charlotte, North Carolina projects totaling just $! And do what 's required to meet that demand picture is very right! Into figuring out contributions % in terms of use please see Barchart 's.... This amount to teammate profit sharing to make a difference in employee motivation and financial performance income of 6.8... Lower weighted average shares outstanding is focused on maximizing our profitability and continuing to be some. The valuable shareholder capital you entrust us with goes into figuring out contributions we go free. There 's three things of Nucor, a us steel producer in 2020 fund... The roughly 25 % remaining the valuable shareholder capital you entrust us with a multi-employer defined contribution pension... Opportunities to supply the sustainable steel that is building our 21st century economy cash flow Nucor has paid out $! Secured for this purpose that begin operations in 2020 facilities have done stellar work, executing across the board safety! Above what they did last year based on what we found at Hannibal performance! Does Magna International earnings Warning Bad for EV Sales payment of tax is secured for this purpose does Magna earnings... Of 2022 will benefit from lower input cost, so just any color you can provide more 33.8! Portfolio of products and capabilities that gap shrink Gallatin top end modernization and expansion beginning! You entrust us with my comments that we are not resting on past. The year the steel is built on steel and the demand picture an incremental 800,000 to 900,000 tons was lot! Will turn the conference back to Mr. Leon Topalian for any additional or remarks!
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