Core Insights - Nucor Corp reported fourth-quarter revenue of $7.08 billion, exceeding analyst estimates of $6.76 billion, and earnings of $1.22 per share, surpassing expectations of 65 cents per share [1] - The CEO of Nucor indicated that while steel demand softened in 2024, market conditions are improving and expected to gain momentum into 2025, positioning Nucor favorably to meet steel-intensive megatrends in the U.S. economy [2] - Nucor anticipates first-quarter earnings in the steel mills and steel products segments to be similar to the first quarter of 2024, while earnings in the raw materials segment are expected to decline [3] Analyst Opinions - Jefferies analyst Christopher LeFemina maintained a Hold rating on Nucor and raised the price target from $125 to $135 [4] - JP Morgan analyst Bill Peterson maintained an Overweight rating on Nucor but lowered the price target from $152 to $150 [4] Stock Performance - Following the earnings announcement, Nucor shares increased by 3.8%, closing at $126.55 [3]

Group 1 - Nucor CEO Leon Topalian expressed optimism about President Trump's tariff policies, believing they will significantly impact the U.S. steel industry by addressing illegal dumping and currency manipulation [1] - The 25% tariff on steel imports imposed during Trump's first term aimed to curb dumping, which has created an unbalanced playing field for the U.S. steel industry [1] - Topalian indicated that Nucor is open to competition but emphasized that dumping has harmed the industry for decades [1] Group 2 - Nucor previously considered acquiring assets from U.S. Steel but refrained due to valuation concerns, stating they will not overpay for assets [2] - Topalian criticized U.S. Steel's leadership for failing to recognize technological innovations and emerging competitors, describing the company as "a shell of itself" [2] - Nucor's net earnings significantly surpass those of its competitors, suggesting a strong market position [2]

FOURTH QUARTER AND YEAR-END 2024 EARNINGS CALL LEON TOPALIAN Chair, President and CEO STEVE LAXTON Executive Vice President and CFO January 28, 2025 FORWARD-LOOKING STATEMENTS Certain statements made in this presentation may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties. The words "anticipate," "believe," "expect," "intend," "may," "project," "will," "should," "could" and similar expressions ...

Core Viewpoint - Nucor Corporation reported a significant decline in earnings for the fourth quarter of 2024, primarily due to lower prices and volumes in its steel segments, despite exceeding consensus estimates for both earnings and net sales [1][2][6]. Financial Performance - Earnings per share for Q4 2024 were $1.22, down from $3.16 in the same quarter last year, but above the Zacks Consensus Estimate of 64 cents [1]. - Net sales for Q4 2024 were $7,076 million, a decrease of approximately 8.2% year over year, yet surpassing the Zacks Consensus Estimate of $6,598 million [2]. - For the full year 2024, Nucor reported net earnings of $2.03 billion or $8.46 per share, compared to $4.52 billion or $18 per share in 2023 [6]. Operational Metrics - Total sales tons to outside customers for steel mills in Q4 2024 were 4,580,000 tons, an increase of 4% year over year, exceeding the estimate of 4,202,000 tons [3]. - The overall operating rate for steel mills was 74% in Q4 2024, consistent with Q4 2023 and slightly down from 75% in Q3 2024 [3]. Segment Performance - Earnings from the steel mills unit fell 71% year over year due to lower average selling prices and volumes [4]. - The steel products segment saw a 49.8% decline in earnings year over year, attributed to lower volumes and average selling prices [4]. - The raw materials segment reported earnings of $57 million, a recovery from a loss of $14 million a year ago [4]. Financial Position - At the end of Q4 2024, Nucor had cash and cash equivalents and short-term investments totaling $4.14 billion, with an undrawn revolving credit facility of $1.75 billion set to expire in November 2026 [5]. Future Outlook - The company anticipates that earnings in the steel mills and steel products segments for Q1 2025 will be comparable to Q4 2024, while earnings in the raw materials segment are expected to decline [7]. - Increased corporate, administrative, and tax impacts are projected for Q1 2025, which may lead to lower net earnings overall [7]. Stock Performance - Nucor's shares have decreased by 31% over the past year, compared to a 24.4% decline in the industry [8].

Core Viewpoint - Nucor (NUE) reported quarterly earnings of $1.22 per share, significantly exceeding the Zacks Consensus Estimate of $0.64 per share, but down from $3.16 per share a year ago, indicating a 90.63% earnings surprise [1][2] Financial Performance - Nucor's revenues for the quarter ended December 2024 were $7.08 billion, surpassing the Zacks Consensus Estimate by 7.24%, although this represents a decline from $7.7 billion in the same quarter last year [2] - Over the last four quarters, Nucor has exceeded consensus EPS estimates three times and topped revenue estimates four times [2] Stock Performance - Nucor shares have increased approximately 4.7% since the beginning of the year, outperforming the S&P 500's gain of 3.7% [3] Future Outlook - The company's earnings outlook will be crucial for assessing future stock performance, with current consensus EPS estimates at $1.06 for the upcoming quarter and $7.76 for the current fiscal year [4][7] - The Zacks Rank for Nucor is currently 3 (Hold), indicating expected performance in line with the market in the near future [6] Industry Context - The Steel - Producers industry, to which Nucor belongs, is currently ranked in the bottom 31% of over 250 Zacks industries, suggesting potential challenges ahead [8] - Another competitor in the industry, United States Steel (X), is expected to report a quarterly loss of $0.15 per share, reflecting a significant year-over-year decline of 122.4% [9]

Financial Performance - Nucor reported consolidated net earnings of $287 million, or $1.22 per diluted share, for Q4 2024, an increase from $250 million, or $1.05 per diluted share, in Q3 2024[2]. - For the full year 2024, consolidated net earnings were $2.03 billion, or $8.46 per diluted share, down from $4.53 billion, or $18.00 per diluted share, in 2023[3]. - Nucor's net sales for Q4 2024 were $7,076 million, a decrease of 8% from $7,705 million in Q4 2023[38]. - The net earnings attributable to Nucor stockholders for the full year 2024 were $2,027 million, down 55% from $4,525 million in 2023[38]. - Nucor's average diluted earnings per share for 2024 was $8.46, a decline of 53% from $18.00 in 2023[38]. Sales and Shipments - Consolidated net sales for Q4 2024 were $7.08 billion, a decrease of 5% from $7.44 billion in Q3 2024 and an 8% decrease from $7.71 billion in Q4 2023[8]. - Total tons shipped to outside customers in 2024 were approximately 24,767,000 tons, a decrease of 2% from 2023, with an average sales price per ton decreasing by 10%[9]. - Total shipments from steel mills increased by 2% in Q4 2024 to 5,650 thousand tons compared to 5,513 thousand tons in Q4 2023[35]. - The company experienced a 6% decrease in bar shipments for the full year 2024, totaling 7,730 thousand tons compared to 8,193 thousand tons in 2023[35]. - The company reported a 35% increase in plate shipments in Q4 2024, totaling 502 thousand tons compared to 373 thousand tons in Q4 2023[35]. Costs and Expenses - The average scrap and scrap substitute cost per gross ton used in Q4 2024 was $381, a 1% increase from Q3 2024 and a 4% decrease from Q4 2023[10]. - Capital expenditures for 2024 were $3,173 million, an increase from $2,214 million in 2023[44]. Cash and Debt - Nucor had $4.14 billion in cash and cash equivalents at the end of Q4 2024, with a $1.75 billion undrawn revolving credit facility[15]. - Cash and cash equivalents at the end of 2024 were $3,558 million, down from $6,387 million at the end of 2023[44]. - Nucor's long-term debt decreased to $5,683 million in 2024 from $6,649 million in 2023[40]. Dividends and Shareholder Returns - The company returned approximately $2.74 billion to stockholders in 2024 through share repurchases and dividends[18]. - Nucor's Board declared a cash dividend of $0.55 per share, marking the 207th consecutive quarterly cash dividend[16]. Future Outlook - Nucor expects earnings in the steel mills and steel products segments to remain similar in Q1 2025 compared to Q4 2024, while raw materials segment earnings are expected to decrease[20]. Operational Metrics - Nucor's operating rates for Q4 2024 were 74%, unchanged from Q4 2023, while the full year 2024 rate decreased to 76% from 78% in 2023[13]. - Nucor's total assets decreased to $33,940 million in 2024 from $35,340 million in 2023[40].

Core Insights - Nucor Corporation reported consolidated net earnings of $287 million, or $1.22 per diluted share, for Q4 2024, an increase from $250 million, or $1.05 per diluted share, in Q3 2024 [1][2] - For the full year 2024, Nucor's consolidated net earnings were $2.03 billion, or $8.46 per diluted share, down from $4.53 billion, or $18.00 per diluted share, in 2023 [2] - The company experienced a decrease in steel demand throughout 2024 but anticipates improving market conditions moving into 2025 [3] Financial Performance - Nucor's consolidated net sales for Q4 2024 were $7.08 billion, a decrease of 5% from $7.44 billion in Q3 2024 and an 8% decline from $7.71 billion in Q4 2023 [5][6] - The average sales price per ton in Q4 2024 decreased by 3% from Q3 2024 and by 10% from Q4 2023 [5] - Total tons shipped to outside customers in 2024 were approximately 24.77 million tons, a 2% decrease from 2023 [6] Segment Performance - Earnings from the steel mills segment in Q4 2024 were $169 million, down from $588 million in Q4 2023, while steel products segment earnings were $329 million, down from $656 million [4] - The raw materials segment saw earnings of $57 million in Q4 2024, compared to a loss of $14 million in Q4 2023 [4] - Overall operating rates at Nucor's steel mills were 74% in Q4 2024, unchanged from Q4 2023 [10] Cost and Expenses - The average scrap and scrap substitute cost per gross ton used in Q4 2024 was $381, a 1% increase from Q3 2024 but a 4% decrease from Q4 2023 [7] - Pre-tax, pre-operating, and start-up costs related to growth projects were approximately $164 million in Q4 2024, slightly down from $168 million in Q3 2024 [8][9] Capital Management - Nucor had $4.14 billion in cash and cash equivalents at the end of Q4 2024, with a $1.75 billion revolving credit facility remaining undrawn [11] - The company declared a cash dividend of $0.55 per share, marking its 207th consecutive quarterly cash dividend [13] - Nucor repurchased approximately 2.1 million shares of common stock at an average price of $149.81 per share during Q4 2024 [14] Outlook - Earnings in the steel mills and steel products segments are expected to remain similar in Q1 2025 compared to Q4 2024, while earnings in the raw materials segment are anticipated to decrease [17]

Company Overview - Nucor Corporation (NUE) is scheduled to release its fourth-quarter 2024 results on January 27 [1] Earnings Performance - Nucor has surpassed the Zacks Consensus Estimate in three of the last four quarters, with an average earnings surprise of 7.4% [2] - The company reported a 6.4% earnings surprise in the last quarter [2] - For the fourth quarter, Nucor anticipates earnings in the range of 55-65 cents per share, a decline from $1.05 per share in the prior quarter and $3.16 per share in the fourth quarter of 2023 [8] Revenue Expectations - The Zacks Consensus Estimate for Nucor's fourth-quarter consolidated revenues is $6,598 million, reflecting a year-over-year decline of 14.4% [9] Factors Affecting Performance - Lower profitability in the steel mills segment is expected to negatively impact Nucor's performance due to reduced volumes and average selling prices [10] - U.S. steel prices have sharply declined in 2024, influenced by a slowdown in demand and oversupply, with benchmark hot-rolled coil (HRC) prices dropping over 40% from $1,200 per short ton at the start of 2024 [11] - Current HRC prices are around $700 per short ton, with a modest recovery not expected in the near term due to weak manufacturing and demand [12] Sales and Production Metrics - The estimated average sales price per ton for Nucor's steel mills unit is $928, indicating an 8.6% year-over-year decrease and a 4% sequential decline [13] - Total sales tons to outside customers for steel mills are projected at 4,202,000 tons for the fourth quarter, suggesting an 8.8% decline from the prior quarter and a 4.4% year-over-year decrease [13]

Core Viewpoint - Nucor (NUE) is expected to report a significant decline in quarterly earnings and revenues, with analysts predicting earnings of $0.67 per share, a 78.8% decrease year-over-year, and revenues of $6.6 billion, down 14.3% from the previous year [1]. Earnings Projections - The consensus EPS estimate has been revised down by 13.9% over the last 30 days, indicating a collective reevaluation by analysts [2]. - Changes in earnings projections are crucial for predicting investor reactions, as empirical studies show a strong correlation between earnings estimate trends and short-term stock price movements [3]. Revenue Estimates - Analysts estimate 'Net sales to external customers - Steel products' at $2.09 billion, reflecting a 25.5% decrease from the prior-year quarter [5]. - 'Net sales to external customers - Steel mills' are projected to reach $4.04 billion, indicating a 9.4% decline year-over-year [5]. - 'Net sales to external customers - Raw materials' are expected to be $476.87 million, suggesting a 7.3% increase compared to the previous year [5]. Sales Volume Predictions - Total steel sales to outside customers from steel mills are estimated at 4,325.15 KTon, down from 4,396 KTon reported in the same quarter last year [6]. - Total steel product sales in tons are expected to be 917.55 KTon, compared to 1,011 KTon in the same quarter last year [6]. Price Estimates - The average steel product price per ton is projected to be $2,279.32, down from $2,776 per ton in the same quarter last year [7]. - The average sales price per ton for total steel mills is expected to be $917.82, compared to $1,015 per ton in the same quarter last year [7]. Specific Product Sales Estimates - Sales tons for steel sheets are estimated at 2,196.75 KTon, slightly down from 2,239 KTon year-over-year [8]. - Sales tons for steel bars are projected at 1,342.43 KTon, down from 1,402 KTon in the same quarter last year [9]. - Sales tons for steel plates are expected to reach 365.52 KTon, up from 341 KTon in the same quarter last year [10]. Market Performance - Nucor shares have shown a return of +6.5% over the past month, outperforming the Zacks S&P 500 composite, which increased by +2.1% [11].

Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? Nucor (NUE) , which belongs to the Zacks Steel - Producers industry, could be a great candidate to consider.This steel company has an established record of topping earnings estimates, especially when looking at the previous two reports. The company boasts an average surprise for the past two quarters of 11.22%.For the most recent quarter, Nucor was exp ...