Company Overview

Nucor Corporation, founded in 1905, is the largest and most diversified steel and steel products company in North America. The company produces approximately a quarter of all raw steel in the U.S. Based in Charlotte, North Carolina, Nucor has grown significantly from its origins to become a leading steel manufacturer and recycler in the continent.

Business Segments

Nucor operates through three primary business segments: Steel Mills, Steel Products, and Raw Materials.

Steel Mills Segment

This segment is responsible for producing a wide range of steel products. This includes hot-rolled, cold-rolled, and galvanized sheet steel; plate steel; wide-flange beams, beam blanks, and H-piling structural steel products; and bar steel products such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products. The segment also encompasses steel trading and rebar distribution. Its products are supplied to steel service centers, fabricators, and manufacturers across the United States, Canada, and Mexico.

Steel Products Segment

The Steel Products segment manufactures and distributes a diverse array of steel products. These include steel joists and joist girders, steel decks, and galvanized torque tubes for solar arrays. It also produces hollow structural section steel tubing, electrical conduit, fabricated concrete reinforcing steel, cold finished steel, steel fasteners, steel grating and expanded metal, wire and wire mesh, metal building systems, insulated metal panels, steel racking, overhead doors, and utility towers and structures for communications and energy transmission. This segment also participates in the piling distribution business.

Raw Materials Segment

This segment focuses on the production and sourcing of raw materials essential for steel manufacturing. It produces direct reduced iron (DRI), brokers ferrous and nonferrous metals, pig iron, hot briquetted iron, and DRI. The segment also supplies ferro-alloys, processes ferrous and nonferrous scrap metal, and is involved in natural gas production and the industrial gas business. Ferrous scrap is sold to electric arc furnace steel mills and foundries, while nonferrous scrap metal is supplied to aluminum can producers, secondary aluminum smelters, steel mills, and other processors.

Market Position and Financial Strength

Nucor holds a significant market position as North America's largest steel producer. As of September 18, 2025, the company's market capitalization stood at $32.78 billion. Nucor maintains the strongest credit ratings in the North American steel sector, holding ratings of A-/A-/Baa1 with stable outlooks from Standard & Poor's and Fitch Ratings, and a positive outlook from Moody's.

As of Q4 2024, Nucor reported $4.14 billion in cash and cash equivalents and short-term investments. The company's $1.75 billion revolving credit facility remained undrawn and was set to expire in November 2026, underscoring its robust liquidity.

Recent Financial Performance

Q4 2024 Results

For the fourth quarter of 2024, Nucor announced consolidated net earnings attributable to its stockholders of $287 million, or $1.22 per diluted share. Net sales for the fourth quarter of 2024 were $7.08 billion, contributing to a full-year net sales figure of $30.73 billion. Diluted earnings per share (EPS) for the fourth quarter were $1.22, with the full-year EPS reaching $8.46.

The company reported net earnings before noncontrolling interests of $345 million for Q4 2024 and $2.32 billion for the full year 2024. EBITDA for the fourth quarter was $751 million, and for the full year, it was $4.37 billion.

Commitment to Shareholders

Nucor demonstrates a strong dedication to returning capital to its shareholders. Throughout the full year 2024, Nucor returned approximately $2.74 billion to stockholders through share repurchases and dividend payments. On December 11, 2024, Nucor's Board of Directors declared a cash dividend of $0.55 per share, payable on February 11, 2025, to stockholders of record as of December 31, 2024. This marked Nucor's 207th consecutive quarterly cash dividend. Notably, Nucor has increased its regular, or base, dividend for 52 consecutive years, a streak that began in 1973.

Operational Excellence and Leadership

"I want to thank our teammates for making 2024 the safest year in Nucor history, during an active year of construction projects and ramp-ups that are advancing our growth strategy," stated Leon Topalian, Chair, President, and Chief Executive Officer. As America's largest and most diversified steel producer, Nucor is exceptionally well-positioned to meet the growing steel demands driven by several steel-intensive megatrends impacting the U.S. economy.

Looking Forward

While steel demand experienced softness throughout 2024, market conditions are showing signs of improvement and are expected to gain momentum into 2025. Nucor's strategic presence with manufacturing facilities across the United States, Canada, and Mexico positions it favorably to capitalize on future growth opportunities within the North American market.