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Key Takeaways XOM plans to expand CCS along the U.S. Gulf Coast with new projects planned for 2026.ExxonMobil expects to carry out CCS operations in partnership with Linde and Nucor.XOM plans natural gas power with captured emissions and will decide on a low-carbon data center by 2026-end.Air quality is deteriorating across many regions due to rising emissions from transportation, heavy industry, and urbanization, posing serious risks to public health and the environment. As a result, improving air quality ...

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]

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FOURTH QUARTER 2025 EARNINGS CALL LEON TOPALIAN Chair and CEO STEVE LAXTON President, COO and CFO January 27, 2026 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 are intended to identify forward-l ...

Nucor (NUE) came out with quarterly earnings of $1.73 per share, missing the Zacks Consensus Estimate of $1.82 per share. This compares to earnings of $1.22 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -5.15%. A quarter ago, it was expected that this steel company would post earnings of $2.15 per share when it actually produced earnings of $2.63, delivering a surprise of +22.33%.Over the last four quarters, the company has ...

Financial Performance - Nucor reported consolidated net earnings of $378 million, or $1.64 per diluted share, for Q4 2025, down from $607 million, or $2.63 per diluted share, in Q3 2025[2]. - Adjusted net earnings for Q4 2025 were $400 million, or $1.73 per diluted share, after excluding impairment charges of $21 million related to facility closures[2][3]. - Net earnings attributable to Nucor stockholders for the year ended December 31, 2025, were $1,744 million, down from $2,027 million in 2024, reflecting a decrease of 14%[34]. - Net earnings attributable to Nucor stockholders for Q4 2025 were $378 million, or $1.64 per diluted share, down from $1.74 billion, or $7.52 per diluted share in Q4 2024[44]. - Adjusted net earnings attributable to Nucor stockholders for the full year 2025 were $1,789 million, or $7.71 per diluted share, compared to $2,130 million, or $8.90 per diluted share in 2024[44]. Sales and Revenue - Net sales for Q4 2025 totaled $7.69 billion, reflecting a decrease compared to previous quarters[6]. - Net sales for Q4 2025 were $7,687 million, a decrease of 10% from $8,521 million in Q3 2025, but an increase of 9% compared to $7,076 million in Q4 2024[37]. - The average sales price per ton for external customers in Q4 2025 was $1,242, a 1% decrease from $1,258 in Q3 2025, but a 6% increase from $1,168 in Q4 2024[37]. Segment Performance - The steel mills segment earnings decreased to $516 million in Q4 2025 from $793 million in Q3 2025, primarily due to lower volumes and margin compression[5][8]. - Steel mills segment total shipments in Q4 2025 were 5,906 thousand tons, an 8% decrease from 6,428 thousand tons in Q3 2025, but a 5% increase from 5,650 thousand tons in Q4 2024[37]. - Total shipments from steel mills decreased by 8% to 5,906 thousand tons in Q4 2025 compared to 6,428 thousand tons in Q3 2025, but increased by 9% from 5,650 thousand tons in Q4 2024[39]. - Steel mill shipments of sheet products decreased by 7% to 2,804 thousand tons in Q4 2025 compared to 3,030 thousand tons in Q3 2025, while shipments increased by 3% from 2,714 thousand tons in Q4 2024[39]. - The company reported a 12% increase in bar shipments for the full year 2025, totaling 8,635 thousand tons compared to 7,730 thousand tons in 2024[39]. - The company experienced a 30% increase in plate shipments for the full year 2025, totaling 2,329 thousand tons compared to 1,797 thousand tons in 2024[39]. Cash and Assets - Nucor had $2.70 billion in cash and cash equivalents at the end of Q4 2025, with a $2.25 billion undrawn revolving credit facility[9]. - Total current assets decreased to $11,765 million in 2025 from $12,475 million in 2024, primarily due to a reduction in cash and cash equivalents[31]. - Nucor's total assets increased to $35,104 million in 2025 from $33,940 million in 2024, reflecting growth in property, plant, and equipment[31]. Liabilities and Expenses - Total liabilities increased to $12,980 million in 2025 from $12,523 million in 2024, driven by an increase in long-term debt and finance lease obligations[31]. - Cash provided by operating activities for the year was $3,234 million, down from $3,979 million in 2024, indicating a decrease of 19%[34]. - Capital expenditures for 2025 were $3,422 million, an increase from $3,173 million in 2024, reflecting ongoing investments in growth[34]. - Nucor's depreciation expense for Q4 2025 was $316 million, up from $304 million in Q3 2025 and $285 million in Q4 2024[42]. - Interest expense for the full year 2025 was $59 million, compared to a net income of $30 million in 2024, indicating a significant change in financial costs[42]. Future Outlook - Looking ahead to Q1 2026, Nucor expects earnings to increase across all segments, driven by higher volumes and prices in the steel mills segment[13]. - The company continues to focus on executing growth projects and maintaining strong returns for shareholders amid robust demand in key markets[5]. Shareholder Returns - The company repurchased approximately 0.7 million shares at an average price of $145.23 per share during Q4 2025, totaling about 5.4 million shares for the full year[10]. - Nucor declared a cash dividend of $0.56 per share, marking its 211th consecutive quarterly cash dividend, with a history of increasing dividends for 53 consecutive years[11]. - For the full year 2025, Nucor returned approximately $1.2 billion to stockholders through share repurchases and dividends[12].