Nucor (NUE) FY2024 10-K Annual Report
Nucor (NUE) 10-K annual report for fiscal year 2024, filed with SEC EDGAR on Feb 27, 2025. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Nucor FY2024 10-K Analysis
Business Overview
- • Core business model: North America’s largest recycler and EAF steel producer supplying diverse steel products chiefly for nonresidential construction and industrial markets
- • New investments: $860M approved in 2024 to build a Pacific Northwest rebar micro mill; recent acquisitions include Rytec (high-speed doors) and Southwest Data Products for expanded data center racking
Management Discussion & Analysis
- • Operating rates decreased to 76% in 2024 vs 78% in 2023, reflecting softened steel market demand
- • Global crude steel production overcapacity expected to rise from 632M net tons in 2024 to 710M in 2025
Risk Factors
- • IRS audit risk: 2015, 2019, 2020 US federal income tax returns under IRS examination; 2015-2021 Canadian returns examined by Canada Revenue Agency
- • US steel market slowdown: 2024 sales down 11%, avg price/ton down 10%, volumes down 2%, lower metal margins constraining profitability
Nucor FY2024 Key Financial MetricsXBRL
Revenue
$30.7B
▼ -11.5% YoY
Net Income
$2.0B
▼ -55.2% YoY
Gross Margin
2.0%
▼ -197bp YoY
Net Margin
6.6%
▼ -644bp YoY
ROE
10.0%
▼ -1162bp YoY
Total Assets
$33.9B
▼ -4.0% YoY
EPS (Diluted)
$8.46
▼ -53.0% YoY
Operating Cash Flow
$4.0B
▼ -44.1% YoY
Source: XBRL data from Nucor FY2024 10-K filing on SEC EDGAR. All figures in USD.
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