Nucor CEO expects 2023 to be ‘another very profitable year’

"We had a very strong quarter, driven by solid performance in our steel products segment and increased demand for steel at our mills," said Leon Topalian, Nucor’s Chair, President, and CEO. "Demand from nonresidential construction, our largest end market, continues to be robust driven by strength in infrastructure and manufacturing investment. Average steel mill utilization rates and profit margins were both up in the first quarter compared to the fourth quarter, with sheet and plate mills seeing some of the largest gains. This, coupled with year-over-year gains in automotive and stability in energy, gives us confidence that 2023 will be another very profitable year for Nucor. My thanks to our 31,000 teammates for their dedication to safely meeting our customers’ needs while executing our strategic growth agenda."