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Steel News January 28, 2022 01:00:01 PM

Nucor Clocked Record Financial Performance in 2021

Paul Ploumis
ScrapMonster Author
The steel mill shipments in the fourth quarter of 2021 have decreased 10% as compared to the third quarter of 2021.

Nucor Clocked Record Financial Performance in 2021

SEATTLE (Scrap Monster): Nucor Corporation reported record quarterly and annual earnings for the fourth quarter and the year ended 2021.

The company announced consolidated net earnings of $2.25 billion, or $7.97 per diluted share, for the fourth quarter of 2021. This compares with consolidated net earnings of $2.13 billion, or $7.28 per diluted share, for the third quarter of 2021 and $398.8 million, or $1.30 per diluted share, for the fourth quarter of 2020.

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For the full year 2021, the company reported net earnings of $6.83 billion, or $23.16 per diluted share, compared with consolidated net earnings of $721.5 million, or $2.36 per diluted share, during the year before that. The consolidated annual sales of $36.48 billion surged higher significantly by 81% compared with consolidated net sales of $20.14 billion reported in 2020.

The steel mill shipments in the fourth quarter of 2021 have decreased 10% as compared to the third quarter of 2021. However, the shipments were marginally higher from the corresponding quarter in 2020. The total shipments to outside customers in 2021 stood at 28.247 million tons, higher by 11% from 2020.

Leon Topalian, President and CEO, Nucor noted that the company delivered incredible financial and operational results in 2021. Also, it reported record year in safety performance for the second straight year, he added.

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