Nucor Corp. Files 10-Q for Period Ending March 30, 2024

TL;DR

<b>Nucor Corp. has filed its quarterly report (10-Q) for the period ending March 30, 2024, detailing financial performance across its key business segments.</b>

AI Summary

NUCOR CORP (NUE) filed a Quarterly Report (10-Q) with the SEC on May 8, 2024. Nucor Corp. filed a 10-Q report for the period ending March 30, 2024. The filing covers financial information for Nucor Corp. and its subsidiaries. Key segments mentioned include Steel Products, Building Systems, Steel Mills, and Raw Materials. The report details financial data as of March 30, 2024, and comparative periods. Information on common stock, retained earnings, and noncontrolling interests is included.

Why It Matters

For investors and stakeholders tracking NUCOR CORP, this filing contains several important signals. This filing provides investors with the latest financial snapshot of Nucor Corp., crucial for understanding its current operational health and financial position. The detailed segment information allows for analysis of performance drivers within Nucor's diverse steel and steel products businesses.

Risk Assessment

Risk Level: low — NUCOR CORP shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not indicate any unusual or significant events that would elevate the risk profile.

Analyst Insight

Monitor Nucor's upcoming earnings calls and investor presentations for management's commentary on the financial results and outlook presented in this 10-Q.

Key Numbers

• 2024-03-30 — Period End Date (Conformed period of report)
• 2024-05-08 — Filing Date (Filed as of date)
• 1231 — Fiscal Year End (Fiscal year end)
• 3312 — SIC Code (Standard Industrial Classification)

Key Players & Entities

• NUCOR CORP (company) — Filer name
• 2024-03-30 (date) — Period of report
• 2024-05-08 (date) — Filed as of date
• STEEL WORKS, BLAST FURNACES ROLLING MILLS (COKE OVENS) [3312] (industry) — Standard Industrial Classification
• DE (location) — State of incorporation
• 1915 REXFORD RD (address) — Business street address
• CHARLOTTE (location) — Business city
• NC (location) — Business state

FAQ

Industry Context

Nucor Corp. operates in the steel industry, specifically in steel works, blast furnaces, and rolling mills.

Regulatory Implications

The filing is a standard 10-Q report under the Securities Exchange Act of 1934.

What Investors Should Do

1. Review the detailed financial statements within the 10-Q for specific revenue, expense, and balance sheet figures.
2. Analyze the segment information to understand the performance of Steel Products, Building Systems, Steel Mills, and Raw Materials.
3. Compare the financial data presented in this 10-Q with previous filings to identify trends and changes in Nucor's financial health.

Year-Over-Year Comparison

This is the initial filing analyzed for the period ending March 30, 2024. Comparative data from previous periods will be found within the document itself.

Key Financial Figures

• $0.40 — ch registered Common Stock, par value $0.40 per share NUE New York Stock Exchan

Filing Documents

• nue-20240330.htm (10-Q) — 1732KB
• nue-ex31.htm (EX-31) — 11KB
• nue-ex31_1.htm (EX-31.1) — 11KB
• nue-ex32.htm (EX-32) — 7KB
• nue-ex32_1.htm (EX-32.1) — 6KB
• 0000950170-24-055144.txt (&nbsp;) — 9108KB
• nue-20240330.xsd (EX-101.SCH) — 1032KB
• nue-20240330_htm.xml (XML) — 2230KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) Condensed Consolidated Statements of Earnings – Three Months (13 Weeks) Ended March 30, 2024 and April 1, 2023 1 Condensed Consolidated Statements of Comprehensive Income – Three Months (13 Weeks) Ended March 30, 2024 and April 1, 2023 2 Condensed Consolidated Balance Sheets – March 30, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Cash Flows – Three Months (13 Weeks) Ended March 30, 2024 and April 1, 2023 4 Notes to Condensed Consolidated Financial Statements 5 Item 2

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 15 Item 3

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 22 Item 4

Controls and Procedures

Controls and Procedures 23 Part II Other Information Item 1

Legal Proceedings

Legal Proceedings 24 Item 1A

Risk Factors

Risk Factors 24 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 24 Item 5 Other Information 24 Item 6 Exhibits 25

FINANCI AL INFORMATION

PART I. FINANCI AL INFORMATION

Financ ial Statements

Item 1. Financ ial Statements Nucor Corporation Condensed Consolidat ed Statements of Earnings (Unaudited) (In thousands, except per share data) Three Months (13 Weeks) Ended March 30, 2024 April 1, 2023 Net sales $ 8,137,083 $ 8,709,980 Costs, expenses and other: Cost of products sold 6,613,903 6,711,778 Marketing, administrative and other expenses 345,395 389,895 Equity in (earnings) losses of unconsolidated affiliates ( 9,769 ) 1,340 Interest (income) expense, net ( 37,787 ) 10,183 6,911,742 7,113,196 Earnings before income taxes and noncontrolling interests 1,225,341 1,596,784 Provision for income taxes 266,379 365,155 Net earnings before noncontrolling interests 958,962 1,231,629 Earnings attributable to noncontrolling interests 114,121 95,087 Net earnings attributable to Nucor stockholders $ 844,841 $ 1,136,542 Net earnings per share: Basic $ 3.46 $ 4.47 Diluted $ 3.46 $ 4.45 Average shares outstanding: Basic 243,098 253,608 Diluted 243,497 254,397 See notes to condensed consolidated financial statements. 1 Nucor Corporation Condensed Consolidated Sta tements of Comprehensive Income (Unaudited) (In thousands) Three Months (13 Weeks) Ended March 30, 2024 April 1, 2023 Net earnings before noncontrolling interests $ 958,962 $ 1,231,629 Other comprehensive loss: Net unrealized loss on hedging derivatives, net of income taxes of $( 1,700 ) and $( 7,800 ) for the first quarter of 2024 and 2023, respectively ( 5,241 ) ( 24,575 ) Reclassification adjustment for settlement of hedging derivatives included in net earnings, net of income taxes of $ 1,800 and $ 100 for the first quarter of 2024 and 2023, respectively 5,341 175 Foreign currency translation gain (loss), net of income taxes of $ 0 for the first quarter of 2024 and 2023 ( 15,468 ) ( 3,441 ) ( 15,368 ) ( 27,841 ) Comprehensive