Nucor Corporation (NYSE:NUE) Q4 2022 Earnings Call Transcript

Leon Topalian: The other thing I would add, John, and Tristan, just in closing that, the positioning of Lexington and the overall micromill strategy is to locate in the growing regions in the Atlantic post in that where Lexington, North Carolina sits is going to be very key in the growth of that sector in that market with proximity to the lowest price scrap and again, the customers that will be supplying that strategy, as John pointed out and has been incredibly important for Nucor. That will continue to help shape and again, provide the returns that we have seen in rebar and quite frankly, of our long products. The other piece is you asked about the Infrastructure Act. We will take meaningful shape, probably second, third, fourth quarter, certainly in the back half of the year.

But as Dan mentioned earlier, make no mistake, the order activity, the quotes, the interest in the bar group, our products Vulcraft for decking it is already begun. So we are already seeing the pre bids and activity already starting. So again, that is not just wishing and hoping we are seeing that activity. We are seeing some of the approvals in the bridge and highway programs actually get funding now, and that will have a meaningful and substantive impact. We estimate in most of the outside groups estimate for every $100 billion in infrastructure, there is going to be about five million tons of steel that will flow through. And again, the product breadth and offering that Nucor has today puts us in an incredibly advantageous position to serve that growing market.

Tristan Gresser: Alright. Thank you very much.

Operator: And this concludes our question-and-answer session. I would like to turn the conference back over to Mr. Leon Topalian for any closing remarks.

Leon Topalian: Thank you. In closing, I just want to thank our team for a historic year in delivering the safest and most profitable year of Nucor’s history. Thank you to our customers who enable our success. We appreciate the trust you place in Nucor with every order, and we will continue to work hard to earn your business. And finally, thank you to our shareholders. We take seriously the stewardship of the valuable shareholder capital that you entrust us with. Thank you for your interest in Nucor. Have a great day.

Operator: The conference has now concluded. Thank you very much for attending today’s presentation. You may now disconnect your lines.