NUE - Nucor Corporation (NUE) Q1 2024 Earnings Call Transcript
2024-04-23 13:44:08 ET
Nucor Corporation (NUE)
Q1 2024 Results Conference Call
April 23, 2024 10:00 AM ET
Company Participants
Jack Sullivan - General Manager and Investor Relations
Leon Topalian - Chair, President and CEO
Steve Laxton - Executive Vice President and CFO
Dave Sumoski - Chief Operating Officer
Noah Hanners - Executive Vice President, Raw Materials
Brad Ford - Executive Vice President, Fabricated Construction Products
John Hollatz - Executive Vice President, Bar and Rebar Fabrication
Al Behr - Executive Vice President, Plate and Structural Products
Chad Utermark - Executive Vice President, New Markets and Innovation
Dan Needham - Executive Vice President, Commercial
Rex Query - Executive Vice President, Sheet and Talent Resources
Doug Jellison - Corporate Strategy
Greg Murphy - Executive Vice President, Business Services, Sustainability and General Counsel
Conference Call Participants
Martin Englert - Seaport Research Partners
Curt Woodworth - UBS
Tristan Gresser - BNP Paribas
Timna Tanners - Wolfe Research
Bill Peterson - JPMorgan
Presentation
Operator
Good morning, and welcome to Nucor's First Quarter 2024 Earnings Call. [Operator Instructions] and today's call is being recorded. [Operator Instructions]
I would now like to introduce Jack Sullivan, General Manager of Nucor Investor relations. You may begin your call.
Jack Sullivan
Thank you, and good morning, everyone.
Welcome to Nucor's first quarter 2024 earnings review and business update. Leading our call today is Leon Topalian, Chair, President and CEO, along with Steve Laxton, Executive Vice President and CFO. We also have other members of Nucor's executive team with us, including Dave Sumoski, Chief Operating Officer; Al Behr, responsible for Plate and Structural Products; Brad Ford over Fabricated Construction Products; Noah Hanners, Raw Materials; John Hollatz, Bar and Rebar Fabrication; Doug Jellison, Corporate Strategy; Greg Murphy, Business Services, Sustainability and General Counsel; Dan Needham, Commercial; Rex Query, Sheet Products; and Chad Utermark, New Products and Innovation.
We have posted our first quarter earnings release and presentation to the Nucor Investor Relations website and we encourage you to access these materials as we will cover portions of them during the call.
Today's discussion will include the use of non-GAAP financial measures and forward-looking information within the meaning of securities laws. Actual results may be different than forward-looking statements and involve risks outlined in our Safe Harbor statement and disclosed in Nucor's SEC filings. The appendix of today's presentation includes supplemental information and disclosures, along with a reconciliation of non-GAAP financial measures.
So with that, let’s turn the call over to Leon.
Leon Topalian
Thanks, Jack and welcome everyone.
I'd like to begin by congratulating our 32,000 Nucor teammates for a safe and profitable start to 2024. In the first quarter, we generated EBITDA of approximately $1.5 billion and net earnings of $845 million or $3.46 per diluted share. For the quarter, we shipped a total of 6.2 million tons to outside customers, up 5% from the prior quarter and in line with our average quarterly shipments for 2023....
Nucor Corporation (NUE) Q1 2024 Earnings Call Transcript