Nucor Corporation · NYSE:NUE
Nucor — Shareholder Meeting (May 2023)
16 slides from Nucor's shareholder meeting presentation, May 11, 2023
Slide 1: 2023 Annual Meeting of Stockholders – May 11, 2023
2023 ANNUAL MEETING OF 1 STOCKHOLDERS – MAY 11, 2023
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS Certain statements made in this presentation may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties. The words “anticipate,” “believe,” “expect,” “intend,” “may,
Slide 3: Non-GAAP Financial Measures
NON-GAAP FINANCIAL MEASURES The Company uses certain non-GAAP (Generally Accepted Accounting Principles) financial measures in this presentation, including EBITDA and free cash flow. Generally, a non-GAAP financial measure is a numerical measure of a company’s performance or financial position that
Slide 4: 2023 Annual Meeting of Stockholders Agenda
2023 ANNUAL MEETING OF STOCKHOLDERS MAY 11, 2023 1. Welcome and Call to Order 2. Introductions 3. Secretary’s Report 4. Review of Proposals, Voting and Closing of Polls AGENDA 5. Preliminary Voting Results 6. Adjournment of Formal Business 7. CEO Remarks 8. Question and Answer Period 9. Closing 4
Slide 5: 5
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Slide 6: 2022 – A Record Year on Multiple Fronts
2022 – A RECORD YEAR ON MULTIPLE FRONTS SAFEST CLEANEST MOST PROFITABLE 6
Slide 7: Executing Our Strategy, Advancing Our Mission
EXECUTING OUR STRATEGY, ADVANCING OUR MISSION Accelerate 7
Slide 8: Strategy Applied – Recent Developments
STRATEGY APPLIED – RECENT DEVELOPMENTS LIVE OUR CULTURE EXPAND BEYOND Record safety year GROW THE CORE C.H.I. Overhead Doors Focus on sustainability Nucor Towers and Equity & inclusion Midwest sheet mill Structures Open communication Brandenburg plate mill Insulated Metal Panels
Slide 9: Growing the Core: Steel Mill Projects Update
GROWING THE CORE STEEL MILL PROJECTS UPDATE SHEET Nucor Steel Gallatin • Produced 365K tons in Q1’23; continues to improve continuous run times • Trending toward full run-rate production (2.8 million tons/yr) by end of Q2 Nucor Steel West Virginia • Received all state permits; still working to recei
Slide 10: Expanding Beyond
EXPANDING BEYOND OVERHEAD TOWERS & INSULATED METAL WAREHOUSE DOORS STRUCTURES PANELS SYSTEMS • Highest growth rate • Attractive growth • Improved Safety and • Multiple cross-selling and EBITDA margins outlook & Financial opportunities with of our Expand underserved market performance other Nucor div
Slide 11: The Nucor Way
THE NUCOR WAY e SAFETY We integrate safety into everything we do, looking out for each other's physical and emotional well-being ¢ INTEGRITY We back up our words with actions and honor our commitments ¢ TRUST We have confidence in each other as we relentlessly pursue winning ¢ INNOVATION We embrace
Slide 12: Nucor's Winning Business Model
NUCOR’S WINNING BUSINESS MODEL GENERATING GROWTH & STOCKHOLDER RETURNS 2020-2022 CUMULATIVE • Largest and most diversified steel products company in the US • Returned $7.6B to stockholders; 50% of net • Energized, world class team earnings • Leader in 10 out of 14 product lines • 50 years dividend i
Slide 13: 2023 Annual Meeting of Stockholders – May 11, 2023
2023 ANNUAL MEETING OF 13 STOCKHOLDERS – MAY 11, 2023
Slide 14: Appendix
APPENDIX NwUcoRF
Slide 15: Reconciliation of GAAP to Non-GAAP Measure
RECONCILIATION OF GAAP TO NON-GAAP MEASURE $ in millions 2018 2019 2020 2021 2022 NET EARNINGS1 2,481 1,371 836 7,122 8,080 NET INTEREST EXPENSE 136 121 153 159 170 PROVISION FOR INCOME TAXES 748 412 -- 2,078 2,165 DEPRECIATION EXPENSE 631 649 702 735 827 AMORTIZATION EXPENSE 89 86 83 129 235 EBITDA
Slide 16: Reconciliation of GAAP to Non-GAAP Measure
RECONCILIATION OF GAAP TO NON-GAAP MEASURE $ in millions 2018 2019 2020 2021 2022 CASH PROVIDED BY OPERATING ACTIVITIES 2,394 2,809 2,697 6,231 10,072 CAPITAL EXPENDITURES (983) (1,477) (1,543) (1,622) (1,948) FREE CASH FLOW 1,411 1,332 1,154 4,609 8,124 16