Nucor Corp Files Q3 2024 10-Q

TL;DR

Nucor's Q3 10-Q is in: financials and operations detailed for steel giant.

AI Summary

Nucor Corporation filed its 10-Q for the period ending September 28, 2024. The filing details financial performance and operational aspects of the steel and steel products manufacturer. Key financial data and segment information are presented, reflecting the company's activities in steel production, raw materials, and related businesses.

Why It Matters

This filing provides investors and analysts with the latest financial and operational details for Nucor, crucial for understanding the company's performance in the steel industry.

Risk Assessment

Risk Level: medium — As a major player in the cyclical steel industry, Nucor is subject to market fluctuations and economic conditions that can significantly impact its financial performance.

Key Numbers

• 2024-09-28 — Reporting Period End Date (Indicates the end of the fiscal quarter for this 10-Q filing.)
• 2024-11-06 — Filing Date (The date Nucor Corp submitted this 10-Q to the SEC.)

Key Players & Entities

• Nucor Corp (company) — Filer of the 10-Q
• 20240928 (date) — End of the reporting period
• STEEL WORKS, BLAST FURNACES ROLLING MILLS (COKE OVENS) [3312] (industry) — Standard Industrial Classification for Nucor Corp
• DE (location) — State of incorporation
• 1915 REXFORD RD (address) — Nucor Corp's business and mailing address
• CHARLOTTE (location) — City of Nucor Corp's business and mailing address
• NC (location) — State of Nucor Corp's business and mailing address
• 28211 (zip_code) — Zip code of Nucor Corp's business and mailing address
• 7043667000 (phone_number) — Nucor Corp's business phone number

FAQ

Key Financial Figures

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

Filing Documents

• nue-20240928.htm (10-Q) — 2666KB
• nue-ex31.htm (EX-31) — 11KB
• nue-ex31_1.htm (EX-31.1) — 11KB
• nue-ex32.htm (EX-32) — 6KB
• nue-ex32_1.htm (EX-32.1) — 6KB
• 0000950170-24-121863.txt ( ) — 13209KB
• nue-20240928.xsd (EX-101.SCH) — 1011KB
• nue-20240928_htm.xml (XML) — 3863KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) Condensed Consolidated Statements of Earnings – Three Months (13 Weeks) and Nine Months (39 Weeks) Ended September 28, 2024 and September 30, 2023 1 Condensed Consolidated Statements of Comprehensive Income – Three Months (13 Weeks) and Nine Months (39 Weeks) Ended September 28, 2024 and September 30, 2023 2 Condensed Consolidated Balance Sheets – September 28, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Cash Flows – Nine Months (39 Weeks) Ended September 28, 2024 and September 30, 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 17 Item 3

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 25 Item 4

Controls and Procedures

Controls and Procedures 27 Part II Other Information Item 1

Legal Proceedings

Legal Proceedings 28 Item 1A

Risk Factors

Risk Factors 28 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 29 Item 5 Other Information 29 Item 6 Exhibits 30

Signatures

Signatures 31 i Table of Contents

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 amounts) Three Months (13 Weeks) Ended Nine Months (39 Weeks) Ended September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Net sales $ 7,444,160 $ 8,775,734 $ 23,658,415 $ 27,008,970 Costs, expenses and other: Cost of products sold 6,686,226 6,854,934 20,183,246 20,588,294 Marketing, administrative and other expenses 244,657 385,768 883,132 1,229,051 Equity in (earnings) losses of unconsolidated affiliates ( 5,278 ) 1,083 ( 24,079 ) ( 3,671 ) Losses and impairments of assets 123,000 - 137,150 - Interest expense (income), net 7,282 ( 14,133 ) ( 32,811 ) 648 7,055,887 7,227,652 21,146,638 21,814,322 Earnings before income taxes and noncontrolling interests 388,273 1,548,082 2,511,777 5,194,648 Provision for income taxes 85,448 326,827 537,847 1,154,689 Net earnings before noncontrolling interests 302,825 1,221,255 1,973,930 4,039,959 Earnings attributable to noncontrolling interests 52,915 79,749 233,962 300,557 Net earnings attributable to Nucor stockholders $ 249,910 $ 1,141,506 $ 1,739,968 $ 3,739,402 Net earnings per share: Basic $ 1.05 $ 4.58 $ 7.23 $ 14.86 Diluted $ 1.05 $ 4.57 $ 7.22 $ 14.83 Average shares outstanding: Basic 236,462 248,504 239,701 250,752 Diluted 236,768 248,916 239,800 251,179 See notes to condensed consolidated financial statements. 1 Table of Contents Nucor Corporation Condensed Consolidated Sta tements of Comprehensive Income (Unaudited) (In thousands) Three Months (13 Weeks) Ended Nine Months (39 Weeks) Ended September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Net earnings before noncontrolling interests $ 302,82