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Nucor Corporation is a leading manufacturer of steel and steel products, primarily operating in North America. The company is organized into three main segments: steel mills, steel products, and raw materials, with the steel mills segment being the largest contributor to sales . Nucor is recognized as North America's largest recycler, utilizing scrap steel as the primary raw material for its steel production . The company has developed specialized product lines such as AEOSTM high-strength steel beams, ECONIQTM net zero carbon steel, and ElcyonTM sustainable heavy gauge steel plate, catering to markets like construction, automotive, and wind energy .
- Steel Mills - Produces carbon and alloy steel in various forms such as sheet, bars, structural, and plate, and involves steel trading and rebar distribution businesses.
- Steel Products - Offers a wide range of products including steel joists and girders, steel deck, fabricated concrete reinforcing steel, cold finished steel, precision castings, metal building systems, insulated metal panels, and utility structures.
- Raw Materials - Involves the processing and brokerage of ferrous and nonferrous metals, as well as the production of direct reduced iron (DRI) used in steel mills.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Leon J. Topalian ExecutiveBoard | Chair, President, and Chief Executive Officer | Chair of the World Steel Association; Board Member of the National Association of Manufacturers | Leon J. Topalian has over 27 years of experience at Nucor, holding various leadership roles. He has been President and CEO since January 2020 and Chair since September 2022. | View Report → |
Daniel R. Needham Executive | Executive Vice President of Commercial | N/A | Daniel R. Needham began his career at Nucor in 2000 and has held various leadership roles, including EVP of Bar, Engineered Bar, and Rebar Fabrication Products. | |
David A. Sumoski Executive | Chief Operating Officer | N/A | David A. Sumoski has been with Nucor since 1995 and became COO in January 2021. He has held several key positions within Nucor. | |
K. Rex Query Executive | Executive Vice President of Sheet Products and Talent Resources | N/A | K. Rex Query joined Nucor in 1990 and has held numerous leadership roles. He became EVP of Sheet Products and Talent Resources in January 2021. | |
Stephen D. Laxton Executive | Chief Financial Officer, Treasurer, and Executive Vice President | N/A | Stephen D. Laxton oversees the financial operations of Nucor Corporation. He is currently serving as CFO, Treasurer, and EVP. | |
Christopher J. Kearney Board | Lead Director | Director of Otis Worldwide Corporation; Managing Partner of Eagle Marsh Holdings, LLC | Christopher J. Kearney has been a member of Nucor's Board since 2008 and was appointed Lead Director in 2022. | |
Laurette T. Koellner Board | Director | Director at The Goodyear Tire & Rubber Company, Papa John’s International, Inc., and Celestica Inc. | Laurette T. Koellner has been a director at Nucor since 2015. She brings extensive international and financial expertise. | |
Michael W. Lamach Board | Director | Director at PPG Industries, Inc.; Board of Trustees at Johnson C. Smith University | Michael W. Lamach joined Nucor's Board in 2022. He has significant expertise in leadership and corporate governance. | |
Nadja Y. West Board | Director | Director of Johnson & Johnson and Tenet Healthcare Corporation | Nadja Y. West has been a director at Nucor since 2019. She is a retired Lieutenant General from the U.S. Army. | |
Nicholas C. Gangestad Board | Director | Senior Vice President and Chief Financial Officer of Rockwell Automation, Inc. | Nicholas C. Gangestad joined Nucor's Board in 2023. He has over three decades of financial expertise and leadership experience. | |
Norma B. Clayton Board | Director | Director at The Goodyear Tire & Rubber Company; Chair of the Board of Trustees at Tuskegee University | Norma B. Clayton has been a director at Nucor since 2021. She has extensive experience in business management and manufacturing operations. | |
Patrick J. Dempsey Board | Director | N/A | Patrick J. Dempsey has been a director at Nucor since 2016. He brings extensive experience in business management and technology leadership. |
- Given your planned capital expenditures of around $3 billion annually over the next few years, how confident are you that these heavy investments will generate the expected returns, especially considering potential market softness and uncertainties in demand across your key segments?
- With additional capacities coming online from projects like West Virginia, Lexington, and Kingman, how do you plan to prevent potential oversupply in the market, and are you considering optimizing your existing footprint or idling older capacity if demand doesn't materialize as expected?
- You've indicated that the impact of government initiatives like the IIJA and IRA on your order books has been less than anticipated so far; how does this affect your strategic planning, especially with potential policy changes after the upcoming election, and what measures are you taking to adjust to these uncertainties?
- Given the surge in imported high-emissions steel and the intense competition in coated products, particularly in lighter gauge markets, how confident are you in the success of your trade cases, and what is your strategy to enhance competitiveness in these segments if trade relief is delayed or insufficient?
- Regarding your investments in decarbonization efforts, nuclear energy with NuScale and Helion, and carbon capture projects, can you provide specific timelines and expected financial outcomes for these initiatives, and how do you address shareholder concerns about the uncertain returns and long-term payback periods associated with these emerging technologies?
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
EAF-based steel producers are sensitive to increases in scrap prices but tend to have lower capital and fixed operating costs compared with large integrated steel producers. They also typically emit fewer GHGs per ton of steel produced than integrated steel producers. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Rytec Corporation | 2024 | Nucor acquired Rytec for an all-cash purchase of $565 million, representing about 12.5x estimated 2024 EBITDA, with integration into Nucor Door Technologies and the addition of $274 million in goodwill and $215 million in intangible assets to drive cross-selling and portfolio expansion. |
Southwest Data Products | 2024 | Nucor acquired Southwest Data Products to accelerate its entry into the data center market, leveraging SWDP’s capabilities in cabinets, racks, and caging systems along with its high EBITDA margins (20%+) and a skilled team of 147, providing significant cross-selling opportunities with existing steel-adjacent products. |
California Steel Industries (CSI) | 2022 | Nucor secured a 51% controlling interest in CSI for approximately $400 million (plus adjustments and a 1% stake from JFE Steel), enhancing its presence in the Western US and expanding its value-added sheet products through CSI’s diverse product lines. |
C.H.I. Overhead Doors | 2022 | Acquired on June 24, 2022 for approximately $3.0 billion (net of cash) at about 13x trailing EBITDA, this acquisition added $1.04 billion in goodwill, integrating C.H.I. into Nucor’s steel products segment and strengthening its market position in residential and commercial overhead doors. |
Summit Utility Structures LLC | 2022 | Acquired to enter the electrical utility tower space as part of Nucor’s Expand Beyond initiative, this deal targets market growth from grid hardening and renewables, leveraging operational synergies to expand from a current 2% market share into a business projected to generate $700 million in EBITDA annually. |
Recent press releases and 8-K filings for NUE.
- Earnings guidance for Q1 2025 is projected at $0.45 to $0.55 per diluted share, which adjusts to $0.50 to $0.60 after adding back one-time charges of approximately $0.05 per share.
- The guidance notes that the steel mills segment is expected to perform in line with Q4 2024, while the steel products and raw materials segments are forecast to see declines due to lower selling prices and margins.
- Nucor has repurchased around 2.3 million shares at an average price of $133.17 and returned approximately $428 million to shareholders through share repurchases and dividend payments.
- Nucor Corp entered into its Fifth Amended and Restated Multi-Year Revolving Credit Agreement on March 11, 2025, aimed at increasing its borrowing capacity from $1.75 billion to $2.25 billion.
- The updated facility extends the maturity date to March 11, 2030, and involves key financial institutions including Bank of America, JPMorgan Chase, U.S. Bank, and Wells Fargo.