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Nucor 8-K Report, Financial Results (Jan 27, 2025)

Reports
Earnings & Results·Regulation FD·Exhibits & Filings
Filing Date
Filed January 27, 2025
Period End
January 27, 2025
Security
NUE
In the record · 2016–202610-K1110-Q328-K111

NUE filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 111 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Apr ’18Apr ’18
  2. Material agreement8-K · May ’20May ’20
  3. Leadership change8-K · Aug ’22Aug ’22
  4. Leadership change8-K · Jun ’26Jun ’26

01—Abstract

Summary

Summary of the 8-K filed January 27, 2025. Cited figures are marked; the original filing is the authoritative source.

Nucor Corporation (NYSE: NUE) reported fourth-quarter and full-year 2024 results in a news release furnished as Exhibit 99.1, alongside an investor presentation furnished as Exhibit 99.2.

For Q4 2024, consolidated net earnings attributable to Nucor stockholders were $287 milliona, or $1.22 per diluted share, versus $250 million, or $1.05 per diluted share, in Q3 2024 (adjusted $1.49 excluding Q3 impairment charges) and $785 million, or $3.16 per diluted share, in Q4 2023. Net sales were $7.08 billion in Q4 2024, down 8% from Q4 2023, and $30.73 billion for full year 2024, down 11% from $34.71 billion in 2023. Full-year 2024 net earnings attributable to Nucor stockholders were $2.03 billion, or $8.46 per diluted share, compared with $4.53 billion, or $18.00 per diluted share, in 2023.

Management stated that steel demand softened through 2024 but that market conditions are starting to improve and should gain momentum into 2025. For the first quarter of 2025, Nucor expects steel mills and steel products segment earnings to be similar to Q4 2024, raw materials earnings to decrease, and higher corporate, administrative and tax impacts that may result in lower overall net earnings. Growth project pre-operating and start-up costs were approximately $594 millionb, or $1.89 per diluted share, for full-year 2024.

At year-end 2024, Nucor reported $4.14 billionc of cash, cash equivalents and short-term investments, an undrawn $1.75 billion revolving credit facility, and a $1.11 billion remaining share repurchase authorization. The company declared a $0.55 per share quarterly dividend payable February 11, 2025. The investor presentation also outlines projected 2025 capital expenditures of approximately $3.0 billion.

02—Key points

Key Highlights

  1. Q4 2024 diluted EPS of $1.22 on net earnings attributable to Nucor stockholders of $287 million, compared with $3.16 in Q4 2023 and $1.05 in Q3 2024 (adjusted $1.49 excluding impairments).
  2. Full-year 2024 net sales of $30.73 billion, down 11% from $34.71 billion in 2023; full-year diluted EPS of $8.46 versus $18.00 in 2023.
  3. Q4 2024 EBITDA of $751 million; full-year 2024 EBITDA of $4.37 billion, versus $7.41 billion in 2023.
  4. Full-year 2024 losses and impairments of assets of $137 million, and pre-operating and start-up costs for growth projects of about $594 million ($1.89 per diluted share).
  5. Year-end 2024 liquidity of $4.14 billion in cash and short-term investments with an undrawn $1.75 billion revolving credit facility; credit ratings A-/A-/Baa1.
  6. Returned approximately $2.74 billion to stockholders in 2024 through share repurchases and dividends; $0.55 quarterly dividend declared for February 2025 payment.
  7. Q1 2025 outlook: steel mills and steel products earnings expected similar to Q4 2024, raw materials earnings lower, and higher corporate and tax impacts that may lower net earnings.

03—Questions

Frequently Asked Questions

  1. How did Nucor perform in the fourth quarter of 2024?

    Nucor reported net earnings attributable to Nucor stockholders of $287 million, or $1.22 per diluted share, on net sales of $7.08 billion. This compares with $785 million, or $3.16 per diluted share, in the fourth quarter of 2023 and $250 million, or $1.05 per diluted share, in the third quarter of 2024.

  2. What is the outlook for the first quarter of 2025?

    Nucor expects earnings in the steel mills and steel products segments to be similar to the fourth quarter of 2024, and raw materials segment earnings to decrease. It also expects higher corporate, administrative and tax impacts, which may result in lower overall net earnings.

  3. How much did Nucor return to shareholders in 2024?

    Nucor returned approximately $2.74 billion to stockholders in 2024 through share repurchases and dividend payments. In the fourth quarter, it repurchased about 2.1 million shares at an average price of $149.81, and $1.11 billion remained authorized for repurchases at year-end.

  4. What is Nucor's financial position at year-end 2024?

    Nucor had $4.14 billion in cash, cash equivalents and short-term investments and a $1.75 billion revolving credit facility that remained undrawn and does not expire until November 2026. Its credit ratings were A-/A-/Baa1, with stable outlooks at S&P and Fitch and a positive outlook at Moody's.

  5. What are Nucor's planned capital expenditures for 2025?

    The accompanying investor presentation projects 2025 capital expenditures of approximately $3.0 billion, including a West Virginia sheet mill with an estimated $1.4 billion cost and completion expected in late 2026.

04—Continue

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