Core Viewpoint - Berkshire Hathaway remains a compelling investment despite Warren Buffett stepping down as CEO, with quarterly data still reflecting his influence until the first-quarter results of 2026 are released [1] Group 1: Company Performance - Berkshire Hathaway missed significant gains by selling its position in Nu Holdings at the end of 2024, which has since outperformed other stocks in its portfolio [2][3] - Nu Holdings has shown remarkable stock performance, surpassing the top 10 stocks in Berkshire Hathaway's portfolio in 2025 [3] Group 2: Market Position and Growth - Nu Holdings is an all-digital bank operating in Brazil, Mexico, and Colombia, becoming the largest financial institution in Brazil by customer count, with 61% of the adult population on its platform [6] - The company has a growing presence in Mexico and Colombia, with 14% and 10% of the populations, respectively, using its services [6] - Nu is actively monetizing its Brazilian user base and plans to expand into new markets, including the U.S., with new offices opening in Miami, Palo Alto, and Washington, D.C. [8] Group 3: Stock Information - Nu Holdings has a current market capitalization of $85 billion, with a stock price of $17.75, reflecting a recent change of -5.38% [7]

Cleveland-Cliffs Inc. (NYSE:CLF) is one of the stocks Jim Cramer answered questions about. Mentioning that they have an outsized position in the stock, a caller asked if it is a buy, sell, or hold, and Cramer replied: Okay, my favorite is Nucor. I’m not going to recommend Cleveland-Cliffs over Nucor because I think Nucor is the superior operator and has been for some time now. You’re going to be able to buy Nucor at a discount. They reported a number of people didn’t like it, but it was at its 52-week hig ...

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On a segment basis, Nucor’s steel mill segment generated $516 million of pretax earnings , down roughly 35% from the prior quarter. Laxton attributed the decline to an 8% drop in shipment volumes due to seasonal effects, fewer shipping days in the fiscal fourth quarter, and planned and unplanned outages. Pricing was mixed: average realized pricing improved in bar and structural products, but those gains were more than offset by lower sheet and plate pricing, which management said reflected lagging sheet pri ...

Core Insights - Air quality is deteriorating globally due to rising emissions from transportation, heavy industry, and urbanization, leading to a focus on cleaner fuels and sustainable technologies [1] - Exxon Mobil Corporation (XOM) is expanding its carbon capture and storage (CCS) operations along the U.S. Gulf Coast as part of its Low-Carbon Business strategy [1][8] Group 1: Carbon Capture and Storage (CCS) Initiatives - XOM plans to launch multiple CCS projects in Texas and Louisiana by 2026, in partnership with Linde and Nucor [2][8] - The company aims to supply electricity for data centers using natural gas while capturing carbon emissions, with a decision on a low-carbon data center expected by the end of 2026 [3][8] Group 2: Industry Comparisons - Other energy companies like Chevron (CVX) and BP are also investing in low-carbon initiatives, with BP operating CCS facilities in the U.K. and CVX having major projects in Australia [4] - Chevron has injected over 11 million tons of CO2 into underground storage by November 2025 [4] Group 3: Financial Performance - XOM's shares have increased by 24.8% over the past year, outperforming the industry average of 17.2% [5] - The company's trailing 12-month enterprise value to EBITDA (EV/EBITDA) is 8.71X, higher than the industry average of 5.43X [6]

Key Takeaways NUE reported Q4 EPS of $1.73, missing estimates, while net sales rose 8.6% year over year.Steel Mills earnings fell sequentially on lower volumes and margin compression, mainly in sheet.Nucor expects Q1 earnings to rise, led by higher volumes and prices in Steel Mills.Nucor Corporation (NUE) reported earnings of $1.64 per share for the fourth quarter of 2025, up from $1.22 in the year-ago quarter.Barring one-time items, earnings were $1.73 per share for the quarter. It missed the Zacks Consens ...

Nucor (NYSE:NUE) Q4 2025 Earnings call January 27, 2026 10:00 AM ET Company ParticipantsAndrew Jones - Executive DirectorChris Jacobi - Director of Investor RelationsLeon Topalian - Chair and CEOPhil Gibbs - Managing DirectorSteve Laxton - President, COO, and CFONone - Company Representative 2None - Company RepresentativeConference Call ParticipantsBill Peterson - AnalystKatja Jancic - AnalystLawson Winder - AnalystTimna Tanners - AnalystTristan Gresser - AnalystOperatorGood morning, and welcome to Nucor's ...

Nucor (NYSE:NUE) Q4 2025 Earnings call January 27, 2026 10:00 AM ET Company ParticipantsAndrew Jones - Executive DirectorChris Jacobi - Director of Investor RelationsLeon Topalian - Chair and CEOPhil Gibbs - Managing DirectorSteve Laxton - President, COO, and CFONone - Company Representative 2None - Company RepresentativeConference Call ParticipantsBill Peterson - AnalystKatja Jancic - AnalystLawson Winder - AnalystTimna Tanners - AnalystTristan Gresser - AnalystOperatorGood morning, and welcome to Nucor's ...

Financial Data and Key Metrics Changes - Adjusted earnings for Q4 2025 were $1.73 per share, with full-year earnings at $7.71 per share, reflecting a strong performance despite challenges [6][16] - EBITDA for Q4 totaled $918 million, with approximately $4.2 billion for the full year, indicating robust profitability [6][16] - The company returned $1.2 billion to shareholders through dividends and share buybacks, representing about 70% of net earnings [7] Business Line Data and Key Metrics Changes - The steel mill segment generated pretax earnings of $516 million in Q4, down roughly 35% from the prior quarter, with an 8% decline in shipment volumes [17] - Steel products segment earnings were $230 million, down from $319 million in Q3, with volume declines attributed to seasonal trends [17][18] - The raw material segment saw pretax earnings of approximately $24 million, down from $43 million, primarily due to scheduled outages [18] Market Data and Key Metrics Changes - The foreign import share of the U.S. finished steel market dropped from approximately 25% to 16% year-over-year, indicating a positive impact from trade policies [11][12] - Domestic steel demand is expected to be slightly up relative to 2025, supported by strong backlogs, which are up nearly 40% year-over-year in the steel mill segment [14][15] Company Strategy and Development Direction - The company is focused on balancing long-term growth with shareholder returns, having reinvested $3.4 billion in 2025 and planning for $2.5 billion in CapEx for 2026 [7][19] - Nucor aims to enhance its product mix towards higher-margin products and expand into steel-adjacent businesses, capitalizing on strong demand trends [8][11] - The company is committed to maintaining a strong balance sheet while pursuing disciplined capital allocation and growth strategies [19][20] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about 2026, expecting higher consolidated earnings across all segments due to improved demand and seasonal trends [20][21] - The company anticipates that the full impact of Section 232 tariffs will continue to lower levels of imported steel, benefiting domestic producers [12][14] - Management highlighted the importance of trade policy and its role in supporting the U.S. steel industry, advocating for continued enforcement of existing tariffs [12][56] Other Important Information - Nucor achieved the lowest injury and illness rate in its history in 2025, marking eight consecutive years of improvement in safety performance [4] - The company has a strong liquidity position with $2.7 billion in cash, providing ample support for growth objectives [7] Q&A Session Summary Question: CapEx outlook for 2027 and ongoing non-expansionary CapEx - Management indicated that CapEx for 2027 is expected to be around $800 million for maintenance, with West Virginia's project absorbing most of the 2026 CapEx [26][34] Question: Potential expansionary projects - Management noted that growth opportunities are being explored in data centers, energy infrastructure, and towers and structures, with a focus on lower CapEx projects [35][36] Question: EBITDA expectations relative to previous guidance - Management clarified that while the $6.7 billion EBITDA target remains a long-term goal, it may not be achievable in 2027 due to ramp-up complexities [41][46] Question: Spare capacity and market share - Management stated that Nucor operates at about 85% utilization across sheet mills, providing opportunities to capture market share from imports [46] Question: Pricing policy and import risks - Management emphasized that pricing is driven by demand profiles and supply chain conditions, with a robust economy supporting current pricing levels [81][85] Question: M&A strategy and focus areas - Management confirmed that future M&A efforts will focus on adjacencies with steel centricity, targeting sectors like energy and data centers for growth [76][78]