CHARLOTTE, N.C., Jan. 14, 2025 /PRNewswire/ -- In conjunction with Nucor's (NYSE: NUE) fourth quarter earnings release, you are invited to listen to its live conference call with host Leon Topalian, Nucor's Chair, President and Chief Executive Officer. This conference call will include a review of Nucor's results for the fourth quarter ended December 31, 2024, followed by a question-and-answer session. The event will be available on the internet on January 28, 2025, at 10:00 a.m. Eastern Time. What: Nuco ...

KEY TAKEAWAYSU.S. Steel shares jumped Monday on a report that Cleveland-Cliffs is teaming up with rival Nucor for a potential bid for the company.The news comes after Nippon Steel's $14.1 billion takeover of U.S. Steel was blocked by President Joe Biden earlier this month, although the Japanese firm received an extension over the weekend on a deadline for when it has to drop the bid.Despite Monday's gains, shares of U.S. Steel have lost more than a fifth of their value in the past 12 months. U.S. Steel (X) ...

Group 1 - Cleveland Cliffs is partnering with Nucor in a potential bid for U.S. Steel after the White House blocked Nippon Steel's takeover attempt [1][2] - The proposed offer for U.S. Steel is expected to be in the high $30s per share, with plans to sell off the Big River Steel subsidiary to Nucor [2] - U.S. Steel's headquarters will remain in Pittsburgh following the acquisition [2] Group 2 - U.S. Steel shares closed at $34.24 per share, indicating the market's current valuation prior to the potential acquisition [3] - President Biden's administration blocked Nippon Steel's over $14 billion bid for U.S. Steel due to national security concerns [3] - The deadline for Nippon Steel to cease its pursuit of U.S. Steel has been extended until June as both companies challenge the merger block [2]

Nucor Corporation (NUE) has stated that its Towers & Structures unit will construct its third cutting-edge utility structure production facility in Brigham City, UT. The company is currently finishing the construction of two utility structure production sites in Decatur, AL and Crawfordsville, IN. The new $200 million Utah plant will be built on Nucor's existing Brigham City location and is projected to employ 200 full-time workers.Nucor has a strong presence in the West, and establishing this new plant in ...

Company Expansion - Nucor Corporation announced the construction of a new $200 million utility structures production facility in Brigham City, Utah, expected to create 200 full-time jobs [1] - The new facility is part of Nucor's Towers & Structures business unit and will be located on the company's existing Brigham City campus [1] - Nucor is currently completing two other utility structures production facilities in Decatur, Alabama, and Crawfordsville, Indiana [1] Market Demand and Strategic Positioning - The new Utah facility positions Nucor to meet growing demand for utility infrastructure in the western U.S., driven by distributed energy projects, data centers, and population growth [2] - An expansive electric transmission buildout is planned in the western U.S., with local utilities forecasting strong load growth and increasing capital spending [2] - The Utah facility will benefit from a freight advantage compared to competitors outside the region and will receive raw materials via rail from Nucor steel mills [2] Business Unit and Operations - Nucor formed its Towers & Structures business unit in 2022 through the acquisition of Summit Utility Structures LLC, a producer of steel poles and structures for utility infrastructure [4] - The new facilities in Alabama, Indiana, and Utah will be highly automated, utilizing efficient straight-line production and advanced hot-dip galvanizing operations [4] - Production at the Alabama and Indiana facilities is expected to begin in the first and second half of 2025, respectively [4] Company Overview - Nucor and its affiliates are manufacturers of steel and steel products, with operations in the U.S., Canada, and Mexico [5] - The company produces a wide range of steel products, including carbon and alloy steel, hollow structural section tubing, electrical conduit, and utility structures [5] - Nucor is North America's largest recycler and also brokers ferrous and nonferrous metals, pig iron, and hot briquetted iron/direct reduced iron [5]

Private Placement - Nu E Power Corp. has closed the first tranche of its non-brokered private placement offering, issuing 1,766,666 units at a price of $0.30 per unit, resulting in gross proceeds of up to $530,000 [1][2] - Each unit consists of one common share and one common share purchase warrant, with warrants allowing the purchase of one common share at $0.35 for 24 months post-closing [1] Use of Proceeds - The net proceeds from the private placement will be allocated for general working capital and advancing solar projects in Canada [2] Debt Settlement - The company has issued shares to settle outstanding debt totaling $486,785, issuing 1,216,963 common shares at a price of $0.40 per share [4] - This debt settlement involves agreements with both non-arm's length and arm's length creditors [4] Shares for Services - An aggregate of 1,081,250 common shares has been issued at $0.40 per share to staff and directors in lieu of cash payments for past services and bonuses, totaling $432,500 [5] Related Party Transactions - The issuance of shares for debt and services to related parties is considered a "related party transaction" under Multilateral Instrument 61-101, exempt from minority approval and formal valuation requirements [6] Hold Period and Regulatory Approval - All common shares issued under the debt and services settlement are subject to a hold period of four months and one day from issuance, pending final acceptance by the Canadian Securities Exchange [7] Company Overview - Nu E Power Corp. focuses on developing, constructing, and operating clean and renewable energy infrastructure across North America, with a partnership aimed at developing up to 2GW of renewable energy projects in Canada by 2030 [8]

Core Insights - Nucor operates as a steel maker utilizing electric arc mini-mills, which are more flexible and environmentally friendly compared to traditional blast furnace methods, leading to higher margins throughout the steel cycle [1] - The company produces specialty products internally, such as industrial garage doors and data center racks, which have different demand cycles and higher margins, supporting long-term profitability [2] - Nucor's management views industry downturns as opportunities for growth, often increasing capital investments during these periods to strengthen the company for future recovery [7] Financial Performance - Nucor's stock has experienced significant pullbacks, including a current decline of approximately 40%, which is consistent with historical trends in the cyclical steel industry [3][8] - The company has a modest debt-to-equity ratio of around 0.33, indicating a solid balance sheet that provides financial flexibility during downturns [4] - Nucor's fourth quarter 2024 earnings guidance is projected to be between $0.55 and $0.65 per share, down from $3.16 a year ago, yet the company remains profitable, contrasting with peers like Cleveland-Cliffs, which is expected to incur losses [10] Dividend and Investment Opportunity - Nucor is recognized as a Dividend King, having increased its dividend for over 50 consecutive years, showcasing a strong business model despite operating in a cyclical industry [13] - The current pullback in stock price presents a potential buying opportunity for long-term investors, as historical sell-offs have often led to gains in the long run [14][15] - The company's dividend yield is around 1.8%, and its reliable dividend payments make it an attractive option for investors looking for stability in a volatile sector [15] Strategic Diversification - Nucor has focused on a broad product portfolio and geographic expansion, which helps mitigate the cyclical nature of the steel industry [16] - The company has also expanded its offerings in specialty steel products, further enhancing its profitability and resilience [16]

Core Viewpoint - Nucor's stock has experienced significant declines recently, with expectations of poor earnings performance in the upcoming report, indicating a challenging outlook for the company and the steel industry overall [1][2][3]. Group 1: Stock Performance - Nucor's shares closed at $115.78, down 1.85% from the previous trading day, underperforming the S&P 500's loss of 0.09% [1]. - Over the last month, Nucor's stock has decreased by 20.39%, significantly worse than the Basic Materials sector's decline of 7.73% and the S&P 500's loss of 0.29% [1]. Group 2: Earnings Expectations - Analysts expect Nucor to report earnings of $0.90 per share, reflecting a year-over-year decline of 71.52% [2]. - The consensus estimate for revenue is $6.7 billion, which is a decrease of 13% compared to the same quarter last year [2]. Group 3: Annual Forecast - For the entire year, Zacks Consensus Estimates predict earnings of $8.47 per share and revenue of $30.33 billion, indicating declines of 52.94% and 12.62%, respectively, from the previous year [3]. Group 4: Analyst Estimates and Stock Ratings - Recent changes to analyst estimates for Nucor are crucial as they reflect short-term business trends, with positive revisions seen as a good sign for the company's outlook [3][4]. - The Zacks Rank system currently rates Nucor as 5 (Strong Sell), with a 0.54% decrease in the consensus EPS projection over the past 30 days [5]. Group 5: Valuation Metrics - Nucor is trading at a Forward P/E ratio of 13.92, which is a premium compared to its industry's Forward P/E of 11.85 [6]. - The Steel - Producers industry, part of the Basic Materials sector, has a Zacks Industry Rank of 215, placing it in the bottom 15% of over 250 industries [6].

Core Viewpoint - Nucor Corporation (NUE) anticipates a significant decline in fourth-quarter 2024 earnings, projecting between 55 and 65 cents per share, down from $1.05 in the previous quarter and $3.16 in the same quarter last year [1][2]. Financial Performance - Nucor reported non-cash charges of $83 million (27 cents per share) and $40 million (17 cents per share) for asset impairments in the raw materials and steel products segments, respectively, during the third quarter of 2024 [1]. - The steel mills segment is expected to experience lower earnings due to decreased volumes and average selling prices, contributing to the overall decline in profitability [2]. Shareholder Returns - In the fourth quarter, Nucor repurchased approximately 2.1 million shares at an average price of $149.81 per share, returning over $2.73 billion to shareholders through share repurchases and dividends this year [3]. - Nucor's shares have declined by 32% over the past year, compared to a 27.9% decline in the industry [3]. Market Position - Nucor currently holds a Zacks Rank of 5 (Strong Sell), indicating a challenging market position [3]. - In contrast, other companies in the basic materials sector, such as Carpenter Technology Corporation (CRS) and New Gold Inc. (NGD), have shown stronger performance and higher rankings [4][5].

Core Viewpoint - Nucor Corporation anticipates a decline in fourth quarter earnings for 2024, projecting earnings per diluted share between $0.55 and $0.65, down from $1.05 in the third quarter of 2024 and $3.16 in the fourth quarter of 2023 [1][3]. Earnings Guidance - The expected decrease in earnings is primarily driven by reduced earnings in the steel mills segment due to lower volumes and average selling prices [3]. - The steel products segment is also expected to see a decrease in earnings compared to the third quarter of 2024, attributed to similar factors [3]. - Conversely, the raw materials segment is projected to experience an increase in earnings in the fourth quarter of 2024, excluding the impairment charge from the third quarter [3]. Share Repurchase and Return to Shareholders - Nucor has repurchased approximately 2.1 million shares at an average price of $149.81 per share during the fourth quarter, totaling about 13.1 million shares year-to-date at an average price of $168.75 per share [4]. - The company has returned over $2.73 billion to shareholders through share repurchases and dividends year-to-date [4]. Upcoming Earnings Release - Nucor will release its fourth quarter earnings after market close on January 27, 2025, followed by a conference call on January 28, 2025, at 10:00 a.m. Eastern Time [5]. Company Overview - Nucor Corporation is a leading manufacturer of steel and steel products, operating in the United States, Canada, and Mexico, producing a wide range of steel products including carbon and alloy steel, structural tubing, and various fabricated steel products [6]. - The company is also recognized as North America's largest recycler, engaging in the brokerage of ferrous and nonferrous metals [6].