Nucor(US:NUE)2024-01-30 19:15Financial Performance - Nucor reported Q4 2023 EBITDA of $14 billion[8] and full year 2023 EBITDA of $74 billion[8] - Net earnings for Q4 2023 were $785 million or $316 diluted EPS[8], while full year 2023 net earnings reached $45 billion or $1800 diluted EPS[8] - Nucor returned approximately $21 billion to shareholders in 2023, representing about 46% of the year's net earnings[8] - Capital expenditures for 2023 totaled $22 billion[8] Segment Results (Q4 2023) - The Steel Mills segment experienced a modest decrease in shipments and lower realized pricing, resulting in EBT of $588 million[19], a 14% increase compared to the prior year[19] - The Steel Products segment saw lower shipments and pricing, with EBT at $656 million[21], a 39% decrease compared to the prior year[21] - The Raw Materials segment reported an EBT loss of $14 million[20], but adjusted EBT improved by 70% compared to the prior year[20] Capital Allocation and Balance Sheet - Nucor's total debt stood at $6842 billion with net debt at ($292) million as of December 31, 2023[26] - The company's total equity and non-controlling interest amounted to $22124 billion[26], representing 76% of total book capitalization[26] - Projected capital expenditures for 2024 are approximately $35 billion[28], including $24 billion for the West Virginia sheet mill[28] Outlook - Nucor anticipates increased profitability in the Steel Mills segment for Q1 2024 due to higher average selling prices and shipments[29] - The Steel Products segment is expected to experience decreased profitability in Q1 2024 due to lower average selling prices[29] - The Raw Materials segment expects increased earnings in Q1 2024 due to higher operating rates at DRI facilities and scrap processing[29]