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Message
Trump should get a big bonus from Nucor--CEO giddy over record year and tariffs
Posted on 1/29/19 at 5:56 pm
Posted on 1/29/19 at 5:56 pm
Nucor announced their fourth quarter earnings today and their earnings were a company record. A huge 24% increase in earnings!! BUT they did it on flat steel shipments.
Almost hidden in the financials is this statement
The tonnage numbers were left completely out of the investor power point presentation.
The average price their customers paid in the fourth quarter was $860 per ton compared to $674 per ton in the four quarter of 2017.
For the year Nucor had net after tax earnings of $2.3 billion compare to net profits of $1.3 billion in 2017. (who were the idiots here that said American steel companies were going out of business and needed tariffs so we would have steel made in America in case of war????)
Wilbur Ross and Nucor are screwing American steel users.
Almost hidden in the financials is this statement
quote:
Total tons shipped to outside customers were 6,687,000 tons in the fourth quarter of 2018, a 5% decrease from the third quarter of 2018 and an increase of 2% from the fourth quarter of 2017. Total fourth quarter steel mill shipments decreased 6% from the third quarter of 2018 and increased 2% from the fourth quarter of 2017. Fourth quarter downstream steel products shipments to outside customers decreased 10% from the third quarter of 2018 and decreased 1% from the fourth quarter of 2017.
The tonnage numbers were left completely out of the investor power point presentation.
The average price their customers paid in the fourth quarter was $860 per ton compared to $674 per ton in the four quarter of 2017.
For the year Nucor had net after tax earnings of $2.3 billion compare to net profits of $1.3 billion in 2017. (who were the idiots here that said American steel companies were going out of business and needed tariffs so we would have steel made in America in case of war????)
Wilbur Ross and Nucor are screwing American steel users.
9
Posted on 1/29/19 at 6:00 pm to I B Freeman
Oh--BTW mentioned in passing was their good performance in their mills in Trinidad and Mexico.
How do they do so well there where there are no Trump tariffs????
How do they do so well there where there are no Trump tariffs????
This post was edited on 1/29/19 at 6:01 pm
Posted on 1/29/19 at 6:01 pm to I B Freeman
I think you should get a visit from the Justice Department at 6 AM....as an unregistered Chinese Agent. At least 30 or so jackbooted thugs to tear your house apart and scare the hell out of whoever is there.
Posted on 1/29/19 at 6:02 pm to I B Freeman
You should get a big bonus from China.
Posted on 1/29/19 at 6:02 pm to antibarner
I might given how powerful the special interest steel industry is in the Trump administration. They may very well be able to get the government to silence the messengers about their outsized profits thanks to Trump.
Posted on 1/29/19 at 6:03 pm to Seldom Seen
quote:
You should get a big bonus from China.
Why should I?? Nobody in China pays our tariffs.
You understand don't you that we do not buy hardly any steel from China and these tariff are on all imports of steel including steel from Europe, Canada and Mexico and Brazil and Turkey and on and on??
This post was edited on 1/29/19 at 6:05 pm
Posted on 1/29/19 at 6:08 pm to I B Freeman
What was your bonus from Xi Jnping?
Posted on 1/29/19 at 6:09 pm to stat19
Maybe you would like Trump to take the steel tariffs up to 50%???
Posted on 1/29/19 at 6:11 pm to I B Freeman
So, answer the question.
Posted on 1/29/19 at 6:11 pm to I B Freeman
quote:
I might given how powerful the special interest steel industry is in the Trump administration. They may very well be able to get the government to silence the messengers about their outsized profits thanks to Trump.
They should make a movie about it. Right here in Baton Rouge. We could give the producers $30,000,000 in tax credits to shoot it here.
Posted on 1/29/19 at 6:13 pm to I B Freeman
quote:
they did it on flat steel shipments.
False, CEO said they had record shipments
Posted on 1/29/19 at 6:14 pm to Godfather1
Might as well given how many people here like the government helping special interest screw the rest of us. You can be the lead.
Posted on 1/29/19 at 6:15 pm to Thib-a-doe Tiger
Read the friggin press release. It is quoted in the OP.
He had record shipment in dollars--a twist of words.
They had record shipments in 2017 too before the tariffs.
He had record shipment in dollars--a twist of words.
They had record shipments in 2017 too before the tariffs.
This post was edited on 1/29/19 at 6:17 pm
Posted on 1/29/19 at 6:16 pm to I B Freeman
Posted on 1/29/19 at 6:19 pm to I B Freeman
quote:
He had record shipment in dollars--a twist of words.
Oh ok
quote:
shipped a record AMOUNT of steel
Posted on 1/29/19 at 6:19 pm to Thib-a-doe Tiger
this a doe read the press release. READ IT.
The point is they are not shipping hardly any more steel than before--up only 5% for the year and essentially flat in the fourth quarter---THEY ARE POCKETING THE MONEY!!!
Why try to argue about the GD press release!!!! Think!!!!! for yourself.
The point is they are not shipping hardly any more steel than before--up only 5% for the year and essentially flat in the fourth quarter---THEY ARE POCKETING THE MONEY!!!
Why try to argue about the GD press release!!!! Think!!!!! for yourself.
Posted on 1/29/19 at 6:21 pm to I B Freeman
You clipped a very small portion of the release and provided no link
Posted on 1/29/19 at 6:22 pm to Thib-a-doe Tiger
[quote]Total fourth quarter steel mill shipments decreased 6% from the third quarter of 2018 and increased 2% from the fourth quarter of 2017. Fourth quarter downstream steel products shipments to outside customers decreased 10% from the third quarter of 2018 and decreased 1% from the fourth quarter of 2017.[/quote]
They were up in raw steel only 2% but were down 1% downstream steel.
Posted on 1/29/19 at 6:23 pm to I B Freeman
I didn’t know that 4th quarter numbers comprised the entire year 
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