Announcing its Q4 and full-year earnings Thursday, the steelmaker said its 2022 net earnings rose to US$7.61 billion, or US$28.79 per diluted share, on net sales of US$41.5 billion. In the year prior, the company posted record net earnings of US$6.8 billion, or US$23.16 per diluted share, on net sales of US$36.5 billion. 
 
Additionally, 2022 marked the fourth consecutive year that Nucor exhibited record-breaking safety performance, it said. 

“These records are a testament of the world-class performance of the 31,000 Nucor teammates that live our culture every single day,” said Nucor chairman and chief executive Leon Topalian. 
 
Nucor benefited from higher average per-ton steel prices, which were up 26% over 2021. That helped to offset a 10% year-over-year decline in steel shipments to outside customers. Shipments fell to 25.5 million tons. 
 
Even so, the company is optimistic about 2023. 

“While we recognize there is uncertainty about the near-term U.S. economic outlook, we're starting to see a number of demand drivers gathering momentum, including the reshoring of manufacturing, large infrastructure investments and grid modernization,” Topalian said. “We believe Nucor's steel and steel products with lower greenhouse gas intensity will be essential building blocks to our nation's clean energy future, security, and productivity for years to come.”