Nucor Corporation announced consolidated net earnings attributable to stockholders of $287 million, or $1.22 per diluted share, for the fourth quarter of 2024. This represents an increase from $250 million, or $1.05 per diluted share, in the third quarter of 2024, but a decrease from $785 million, or $3.16 per diluted share, in the fourth quarter of 2023.
For the full year 2024, Nucor reported consolidated net earnings of $2.03 billion, or $8.46 per diluted share, a decline from $4.53 billion, or $18.00 per diluted share, in 2023. Consolidated net sales for Q4 2024 were $7.08 billion, and for the full year 2024, they were $30.73 billion, an 11% decrease from 2023. Average sales price per ton decreased 10% in 2024 compared to 2023.
The company's steel mills operated at 74% capacity in Q4 2024 and 76% for the full year. Nucor deployed approximately $164 million in pre-operating and start-up costs for growth projects in Q4, totaling $594 million for the full year. The company maintained a strong liquidity position with $4.14 billion in cash and short-term investments.
Nucor returned approximately $2.74 billion to stockholders in 2024 through share repurchases and dividend payments, including repurchasing 2.1 million shares in Q4. For the first quarter of 2025, Nucor expects earnings in the steel mills and steel products segments to be similar to Q4 2024, while raw materials segment earnings are projected to decrease. Higher corporate, administrative, and tax impacts are also anticipated.
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