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HANGZHOU, China, Nov. 13, 2020 /PRNewswire/ — China Jo-Jo Drugstores, Inc. (NASDAQ: CJJD) (“Jo-Jo Drugstores” or the “Company”), a leading online and offline retailer, wholesale distributor of pharmaceutical and other healthcare products and healthcare provider in China, today announced its financial results for the second fiscal quarter ended September 30, 2020.

Mr. Lei Liu, Chairman and CEO of Jo-Jo Drugstores, commented, “We are pleased with our second quarter performance as we delivered another quarter of strong results. Our revenue and gross profit recorded $30.84 million and $7.01 million for the second fiscal quarter of 2021, up 8.8% and 4.8% compared to same period of fiscal year 2020. Revenue year-over-year from online pharmacy increased by 127.4%. We have always been deeply committed to our communities, and we have taken necessary measures to protect the safety and health of our customers and employees during the global COVID-19 pandemic while making solid progress on our transformation strategy of ‘Medical Linkage & Technology Empowerment’. The environment surrounding COVID-19 is accelerating our transformation, giving us new opportunities to demonstrate our capabilities and gain retail market share in China. We are building a strong foundation for sustainable growth and setting the platform to engage with consumers, and we are remaining focused on creating value for all our stakeholders.”  

Second Quarter of Fiscal 2021 Financial Highlights

• Revenue increased by 8.8% to $30.84 million for the three months ended September 30, 2020 from $28.35 million for the same period of last year.
• Gross profit increased by 4.8% to $7.01 million for the three months ended September 30, 2020 from $6.69 million for the same period of last year.
• Gross margin decreased slightly by 0.9 percentage points to 22.7% for the three months ended September 20, 2020 from 23.6% for the same period of last year.
• Net loss was $1.53 million, or $0.04 per basic and diluted share, for the three months ended September 30, 2020, compared to net loss of $1.35 million, or $0.04 per basic and diluted share, for the same period of last year.

Second Quarter of Fiscal 2021 Financial Results

Revenue

Revenue for the three months ended September 30, 2020 increased by $2.49 million, or 8.8%, to $30.84 million from $28.35 million for the same period of last year. The increase in revenue was primarily due to the growth in online pharmacy business.

Revenue from the retail drugstores business decreased slightly by $0.07 million, or 0.4%, to $17.93 million for the three months ended September 30, 2020 from $18.00 million for the same period of last year. The slight decrease was primarily due to the Company’s strategical abandoning of the sales of certain low-profit margin products reimbursed by National Healthcare Security Administration (“NHSA” hereafter) due to its overall budget, elimination of a variety of drugs off the list of drugs reimbursed by the local NHSA since September 1, 2020, and the negative effect on the overall economy from COVID-19.

Revenue from the online pharmacy business increased by $3.00 million, or 127.4%, to $5.35 million for the three months ended September 30, 2020 from $2.35 million for the same period of last year. The increase was primarily caused by an increase in sales of prescription drugs via e-commerce platforms such as Tmall. Prescription drugs used to be prohibited from sales online due to safety concern. However, because the nation has lifted the ban order, online prescription drug sales become popular. As a result, the sale of prescription drugs was $1.76 million in the three months ended September 30, 2020 as compared to none in the three month ended September 30, 2019. Additionally, the Company maintained a membership care program targeted at customers with chronic disease. The Company has closely interacted with its members via WeChat by providing healthcare knowledge and reminding them to refill medicine. By implementing a personalized customer care program, the Company was able to promote its sales.

Revenue from the wholesale business decreased by $0.44 million, or 5.5%, to $7.56 million for the three months ended September 30, 2020 from $8.00 million for the same period of last year. The decrease was primarily due to the fact that a key salesperson was sick, which slowed certain business with customers.

Gross profit and gross margin

Total cost of goods sold increased by $2.17 million, or 10.0%, to $23.83 million for the three months ended September 30, 2020 from $21.66 million for the same period of last year. Gross profit increased by $0.32 million, or 4.8%, to $7.01 million for three months ended September 30, 2020 from $6.69 million for the same period of last year. Overall gross margin decreased slightly by 0.9 percentage points to 22.7% for the three months ended September 30, 2020, from 23.6% for the same period of last year.

Gross margins for retail drugstores, online pharmacy and wholesale were 31.3%, 11.3%, and 10.7%, respectively, for the three months ended September 30, 2020, compared to gross margins for retail drugstores, online pharmacy and wholesale of 30.7%, 13.6%, and 10.6%, respectively, for the same period of last year.

Loss from operations

Selling and marketing expenses decreased by $0.01 million, or 0.2%, to $6.48 million for the three months ended September 30, 2020 from $6.49 million for the same period of last year. The decrease in selling and marketing expenses was primarily due to the control of in-store advertising expense, offset by the increase in fee charged by various platforms as a result of sale increase in the Company’s online pharmacy.

General and administrative expenses increased by $0.24 million, or 13.0%, to $2.06 million for the three months ended September 30, 2020 from $1.82 million for the same period of last year. In the three months ended September 30, 2020, the Company reversed bad debt allowance of $304,397 as compared to an increase in bad debt allowance of $9,018 in the same period of last year. Excluding such effect, the general and administrative expenses increased by $551,039 period over period, which reflects the increase in staff and administration expense.

Loss from operations was $1.52 million for the three months ended September 30, 2020, compared to $1.62 million for the same period of last year. Operating margin was (4.9)% and (5.7)% for the three months ended September 30, 2020 and 2019 respectively.

Net loss

Net loss was $1.53 million, or $0.04 per basic and diluted share for the three months ended September 30, 2020, compared to net loss of $1.35 million, or $0.04 per basic and diluted share for the same period of last year.

Six Months Ended September 30, 2020 Financial Highlights

• Revenue increased by 15.4% to $61.90 million for the six months ended September 30, 2020 from $53.63 million for the same period of last year.
• Gross profit increased by 17.5% to $14.99 million for the six months ended September 30, 2020 from $12.75 million for the same period of last year.
• Gross margin increased by 0.4 percentage points to 24.2% for the six months ended September 20, 2020 from 23.8% for the same period of last year.
• Net loss was $1.92 million, or $0.05 per basic and diluted share, for the six months ended September 30, 2020, compared to net loss of $3.73 million, or $0.10 per basic and diluted share, for the same period of last year.

Six Months Ended September 30, 2020 Financial Results

Revenue

Revenue for the six months ended September 30, 2020 increased by $8.26 million, or 15.4%, to $61.90 million from $53.63 million for the same period of last year. The increase in revenue was primarily due to the increase in retail drugstores, online pharmacy and wholesale business.

Revenue from the retail drugstores business increased by $2.00 million, or 5.8%, to $36.74 million for the six months ended September 30, 2020 from $34.74 million for the same period of last year. The increase was primarily attributable to consumer-facing benefits such as emphasis on onsite medical care, chronic disease management services, incremental Direct-to-Patient (“DTP”) business caused by continuous hospital medical reform, partially offset by the decline in sale reimbursed by NHSA in the second quarter of fiscal 2021, and maturing of stores opened a year ago.

Revenue from the online pharmacy business increased by $5.47 million, or 114.0%, to $10.26 million for the six months ended September 30, 2020 from $4.79 million for the same period of last year. The increase was primarily caused by an increase in sales of prescription drugs via e-commerce platforms such as Tmall. Due to the same reason discussed above, the sale of prescription drugs was $3.63 million in the six months ended September 30, 2020 as compared to none in the six month ended September 30, 2019. Additionally, the Company maintained a membership care program targeted at customers with chronic disease. The Company has closely interacted with its members via WeChat by providing healthcare knowledge and reminding them to refill medicine. By implementing a personalized customer care program, the Company was able to promote its sales.

Revenue from the wholesale business increased by $0.80 million, or 5.6%, to $14.90 million for the six months ended September 30, 2020 from $14.10 million for the same period of last year. The increase was primarily a result of the Company’s ability to resell certain products, which the Company sold in large quantities at its retail stores, to other vendors at competitive prices.

Gross profit and gross margin

Total cost of goods sold increased by $6.02 million, or 14.7%, to $46.90 million for the six months ended September 30, 2020 from $40.88 million for the same period of last year. Gross profit increased by $2.24 million, or 17.5%, to $14.99 million for the six months ended September 30, 2020 from $12.75 million for the same period of last year. Overall gross margin increased by 0.4 percentage points to 24.2% for the six months ended September 30, 2020, from 23.8% for the same period of last year.

Gross margins for retail drugstores, online pharmacy and wholesale were 32.7%, 12.5%, and 11.4%, respectively, for the six months ended September 30, 2020. This compared to gross margins for retail drugstores, online pharmacy and wholesale of 30.5%, 13.9%, and 10.7%, respectively, for the same period of last year.

Loss from operations

Selling and marketing expenses increased by $0.30 million, or 2.4%, to $12.75 million for the six months ended September 30, 2020 from $12.45 million for the same period of last year. The increase in selling and marketing expenses was primarily due to increase in fee charged by various platforms as a result of sale increase in the Company’s online pharmacy.

General and administrative expenses decreased by $0.50 million, or 10.6%, to $4.18 million for the six months ended September 30, 2020 from $4.68 million for the same period of last year. In the six months ended September 30, 2020, the Company reversed bad debt allowance of $286,076 as compared to an increase in bad debt allowance of $767,249 in the same period of last year. Excluding such an effect, the general and administrative expenses increased by $559,503 period over period, which reflects the increases in staff and administration expense as the Company’s online business grew. 

Loss from operations was $1.94 million for the six months ended September 30, 2020, compared to $4.38 million for the same period of last year. Operating margin was (3.1)% and (8.2)% for the six months ended September 30, 2020 and 2019 respectively .

Net loss

Net loss was $1.92 million, or $0.05 per basic and diluted share for the six months ended September 30, 2020, compared to net loss of $3.73 million, or $0.10 per basic and diluted share for the same period of last year.

Financial Condition

As of September 30, 2020, the Company had cash of $21.65 million, compared to $16.18 million as of March 31, 2020. Net cash used in operating activities was $0.35 million for the six months ended September 30, 2020, compared to net cash provided by operating activities of $0.97 million for the same period of last year. Net cash used in investing activities was $1.76 million for the six months ended September 30, 2020, compared to $1.45 million for the same period of last year. Net cash provided by financing activities was $4.55 million for the six months ended September 30, 2020, compared to $6.38 million for the same period of last year.

About China Jo-Jo Drugstores, Inc.

China Jo-Jo Drugstores, Inc. (“Jo-Jo Drugstores” or the “Company”), is a leading online and offline retailer and wholesale distributor of pharmaceutical and other healthcare products and a provider of healthcare services in China. Jo-Jo Drugstores currently operates an online pharmacy and retail drugstores with licensed doctors on site for consultation, examination and treatment of common ailments at scheduled hours. It is also a wholesale distributor of products similar to those carried in its pharmacies. For more information about the Company, please visit http://jiuzhou360.com. The Company routinely posts important information on its website.

Forward-Looking Statements

This press release contains information about the Company’s view of its future expectations, plans and prospects that constitute forward-looking statements. Actual results may differ materially from historical results or those indicated by these forward-looking statements as a result of a variety of factors including, but not limited to, risks and uncertainties associated with its ability to raise additional funding, its ability to maintain and grow its business, variability of operating results, its ability to maintain and enhance its brand, its development and introduction of new products and services, the successful integration of acquired companies, technologies and assets into its portfolio of products and services, marketing and other business development initiatives, competition in the industry, general government regulation, economic conditions, dependence on key personnel, the ability to attract, hire and retain personnel who possess the technical skills and experience necessary to meet the requirements of its clients, and its ability to protect its intellectual property. The Company’s encourages you to review other factors that may affect its future results in the Company’s annual reports and in its other filings with the Securities and Exchange Commission.

For more information, please contact:

Company Contact: 

Frank Zhao

Chief Financial Officer
+86-571-88077108
[email protected]

Steve Liu

Investor Relations Director
[email protected]

Investor Relations Contact:

Tina Xiao

Ascent Investor Relations LLC
+1-917-609-0333
[email protected]

 

 

 

 

 

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SOURCE China Jo-Jo Drugstores, Inc.

CAMDEN, N.J., Nov. 13, 2020 /PRNewswire/ — Holiday plans look different for many Americans this year, with reduced travel – only 6% plan to fly – and gatherings limited to close circles of people. According to a 2020 Thanksgiving survey by Campbell Soup Company, there will be an influx of first-time hosts and nervous cooks this Thanksgiving due to smaller, more intimate holiday get-togethers.

Notable findings from the survey include:

• Small but mighty. Compared to a typical year, more than half of consumers will celebrate Thanksgiving with fewer people.
• Home sweet home. Nearly two thirds (65%) of consumers will celebrate Thanksgiving in the comfort of their own home.
• Rookie host with the most. More than 1 in 5 (22%) will be first time Thanksgiving hosts.
• Sides are the stars. More than three quarters (77%) of consumers said mashed potatoes are one of their favorite Thanksgiving side dishes.
• No-Fail “GBC.” 41% of first-time hosts rated Green Bean Casserole as top “no fail” holiday dishes.

With so many first-time Thanksgiving hosts, many are nervous they may experience a mishap with their beloved traditional dishes. Manhattanites in particular are feeling the pressure, with numerous transplants not returning home for the holidays this year. Over 1 in 3 Manhattanites (35%) will be first-time hosts, with 67% saying they will celebrate with fewer people than usual and 66% of survey respondents dreading the possibility of an epic cooking fail.                        

Enter Campbell’s Dinner Insurance – a holiday side dish solution hub where first-time hosts can find easy, no-fail holiday recipes. And, if your dish still doesn’t go as planned on Thanksgiving, Campbell’s has you covered. In partnership with Instacart, the North American leader in online grocery delivery, all Manhattan residents will receive the opportunity to insure their Campbell’s side dish ingredient purchases. In this Dinner Insurance pilot program, Instacart cooks can submit a claim to receive a gourmet replacement side dish with same-day delivery on Thanksgiving.

“We know Thanksgiving will look and feel differently this year – with so many first timers assuming the responsibility of cooking their favorite holiday meals for a smaller gathering,” says Linda Lee, Chief Marketing Officer of Meals and Beverages, Campbell Soup Company. “We also know that while we look forward to that centerpiece turkey, our mouths water when anticipating the classic side dishes of the Thanksgiving table. Our goal with Dinner Insurance is to remind everyone that even in the toughest of times, Campbell’s is here to make holidays easier and more delicious with our no-fail classic side recipes.”

In addition to no-fail recipes, consumers are looking to make this year as stress-free as possible. 80% of consumers use online grocery shopping services and nearly a quarter plan to use them more than last year for Thanksgiving shopping in 2020. The brand’s partnership with Instacart provides access to millions of consumers who are actively shopping for Thanksgiving.

“Dinner Insurance is a ‘first to market’ program in many ways,” says Seth Dallaire, Chief Revenue Officer, Instacart. “This partnership has allowed us to pilot new consumer marketing and co-branded tactics that will truly drive sales and awareness. We are thrilled to join Campbell’s on a unique program that not only unlocks added value and engagement for their growing customer base, but truly helps those during an unprecedented holiday.”

No-fail side dishes offered through Dinner Insurance include Campbell’s Green Bean Casserole, Pepperidge Farm Savory Stuffing, Swanson Double Stock Mashed Potatoes and Pepperidge Farm Baked Brie.

For classic, no-fail Thanksgiving recipes and to learn more about the Manhattan Dinner Insurance pilot program, visit Campbells.com/DinnerInsurance.

About Campbell Soup Company


Campbell (NYSE: CPB) is driven and inspired by our Purpose, “Real food that matters for life’s moments.” For generations, people have trusted Campbell to provide authentic, flavorful and affordable snacks, soups and simple meals, and beverages. Founded in 1869, Campbell has a heritage of giving back and acting as a good steward of the planet’s natural resources. The company is a member of the Standard and Poor’s 500 and the FTSE4Good Index. For more information, visit www.campbellsoupcompany.com or follow company news on Twitter via @CampbellSoupCo.

About Instacart

Instacart is the North American leader in online grocery delivery. Instacart shoppers offer same-day delivery and pickup services to bring fresh groceries and everyday essentials to busy people and families across the U.S. and Canada. Instacart has partnered with more than 500 beloved national, regional and local retailers to deliver from nearly 40,000 stores across more than 5,500 cities in North America. Instacart’s delivery service is available to more than 85% of U.S. households and 70% of Canadian households. The company’s cutting-edge enterprise technology also powers the ecommerce platforms of some of the world’s biggest retail players, supporting their white-label websites, applications and delivery solutions. Instacart offers an Instacart Express membership for unlimited free delivery on orders over $35. For more information, visit www.instacart.com. For anyone interested in becoming an Instacart shopper, visit https://shoppers.instacart.com/.

Media Contact:

Colleen Baker, MSL
312-438-6482
[email protected]

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SOURCE Campbell’s

MOUNTAIN VIEW, Calif., Nov. 13, 2020 /PRNewswire/ — Portworx by Pure Storage, the industry’s most complete Kubernetes Data Services Platform, today announced it was named a leader in the GigaOm Radar for Kubernetes Data Protection, which examines the effectiveness of twelve different Kubernetes data protection solutions across ten key criteria and evaluation metrics. According to the report, Portworx provides “a highly scalable and flexible solution for Kubernetes data storage and management that works seamlessly across different on-premises and cloud environments” Portworx also received top marks on all five evaluation metrics including flexibility, scalability, performance, ease of use, and TCO/ROI.

Today’s report inclusion marks the second time this year Portworx has been included in a GigaOm Radar Report. In March (and a subsequent update in July), Portworx was labeled the category leader in the GigaOm Radar for Data Storage for Kubernetes after ranking the company as a “strong focus and perfect fit” on 9 out of 11 evaluation criteria and key capabilities.

“Portworx’s continued presence in GigaOm Radar Reports for Kubernetes is testament to the strength of capabilities when it comes to Kubernetes data protection and data storage,” said Enrico Signoretti, senior data storage analyst, GigaOm. “Features like PX-Backup and PX-DR support highly scalable workflows across both on-premise and cloud environments, and Portworx by Pure Storage provides application owners and DevOps teams with the tools they need to simplify data management processes.”

“This positioning signifies industry-wide recognition of Portworx’s ability to deliver scalable and consistent Kubernetes data protection and storage to enterprises everywhere,”said Murli Thirumale, co-founder and VP, GM cloud native business unit at Portworx by Pure Storage. “We’re pleased to be ranked so highly alongside our peers in today’s GigaOm Radar Report for Kubernetes Data Protection.”

For more information about Portworx’s leadership in data protection around Kubernetes, visit Portworx.com to download the report.

About the

Learn More

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  Leading companies use Portworx
  
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  Portworx on Twitter
  
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About Pure Storage
Pure Storage (NYSE: PSTG) helps modern organizations turn data into business advantage. Pure solutions enable a unified data experience that can adapt as customer needs evolve. One of the fastest-growing enterprise IT companies in history, Pure Storage helps customers put data to use while reducing the complexity and expense of managing the infrastructure behind it. Pure Storage provides a modern data experience that creates a common operating environment across multiple data centers and clouds, easing operations via APIs and intelligent AI-driven automation. And with a certified NPS customer satisfaction score in the top one percent of B2B companies, Pure’s ever-expanding list of customers are among the happiest in the world.

About Portworx by Pure Storage
Portworx, acquired by Pure Storage in October 2020, is the container storage company enterprises rely on to manage mission critical data services in containers. By enabling data availability, data security, backup and disaster recovery for Kubernetes-based applications running on-prem or across clouds, Portworx has helped dozens of Global 2000 companies such as Carrefour, Comcast, GE Digital, Lufthansa, T-Mobile, and SAIC run containerized data services in production. Based in Los Altos, Portworx partners with Amazon, Cisco, Google, HPE, IBM, Pivotal, VMware, and other leading enterprise software companies to accelerate container adoption. For more information, visit portworx.com or follow @portwx.

Analyst Recognition
Pure Storage has been named a Leader in the 2019 Gartner Magic Quadrant for General Purpose Storage. Additionally, Portworx was recognized as the leader in GigaOm’s inaugural 2020 Radar Report for Data Storage for Kubernetes

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SOURCE Portworx

REDWOOD SHORES, Calif., Nov. 13, 2020 /PRNewswire/ — Texas Children’s Hospital, the largest children’s hospital in North America, has selected Oracle Fusion Cloud Applications to support its mission to provide world-class health care to children and women everywhere. By seamlessly integrating its finance, supply chain and human resource processes in the cloud, Texas Children’s aims to improve employee engagement, integrate and simplify processes, and increase adaptability.

Founded in 1954, Texas Children’s is recognized as one of the nation’s top children’s hospitals and one of the largest and most comprehensive pediatric and women’s health care organizations in the world. To support growth and enable staff to spend more time creating a healthier future for children and women and less time on administration, Texas Children’s is replacing its existing business applications that required custom integrations, which added cost and complexity and slowed down information flow. After careful evaluation, Texas Children’s selected Oracle Cloud Applications.

With Oracle Fusion Cloud Enterprise Resource Planning (ERP), Oracle Fusion Cloud Human Capital Management (HCM), and Oracle Fusion Cloud Supply Chain Management (SCM), Texas Children’s will be able to manage finance, HR and supply chain data on a single platform to automate repetitive, everyday tasks, simplify operations, and empower employees to make more informed decisions. To realize the benefits faster and ensure adoption of best practices, Texas Children’s also selected Oracle Consulting as its strategic implementation partner.

“As one of the leading children’s hospitals, Texas Children’s Hospital has no shortage of empathy – which can add to the complexity when embarking on a cloud implementation of this scale,” said Beth Boettcher, senior vice president of North America applications consulting, Oracle. “For example, it requires delicate and strategic communication to tell a finance person that the ERP customization that has helped them perform a task for the last 10 years won’t be supported in a more standardized cloud environment. The Texas Children’s Hospital team is embracing this opportunity to rethink the core applications that support their operations, and we are excited to support them as they embrace the benefits of the cloud.”

“The healthcare industry is going through significant changes, and the challenges of 2020 have forced many organizations to reallocate resources and change business processes,” said Steve Miranda, executive vice president of applications development, Oracle. “Managing business processes in the cloud gives organizations like Texas Children’s Hospital the flexibility to respond to changing market dynamics to improve service offerings, and drive growth now and into the future.”  

About Oracle

The Oracle Cloud offers a complete suite of integrated applications for Sales, Service, Marketing, Human Resources, Finance, Supply Chain and Manufacturing, plus Highly Automated and Secure Generations 2 Infrastructure featuring the Oracle Autonomous Database. For more information about Oracle (NYSE: ORCL), please visit us at oracle.com.

Trademarks

Oracle and Java are registered trademarks of Oracle and/or its affiliates. Other names may be trademarks of their respective owners.

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SOURCE Oracle

CHARLOTTE, N.C., Nov. 13, 2020 /PRNewswire/ — Nucor Corporation (NYSE: NUE) announced today that it has signed a 15-year Virtual Power Purchase Agreement (VPPA) with EDF Renewables North America (EDFR) for 250 megawatts (MWac) of new solar energy in Texas.  The agreement, which will enable EDFR to add more clean energy to the region’s power grid, is Nucor’s first VPPA and the largest of its kind for the steel industry.

“Nucor is one of the most efficient and cleanest steel producers in the world, and we are always looking for ways to reduce our carbon footprint. That is why we are proud to make our production process even cleaner by supporting the development of this solar energy project,” said Leon Topalian, President & Chief Executive Officer of Nucor Corporation. “We are already North America’s largest recycler, and supporting the addition of more clean power to the regional grid via this agreement further demonstrates Nucor’s commitment to sustainable steelmaking.”

Construction on EDFR’s solar project is expected to begin in the summer of 2022 with production of electricity estimated to begin in 2023. Once completed, the expected annual output of the solar facility will be the equivalent of the electricity consumed by nearly 50,000 average Texas homes.  

“EDF Renewables is pleased to partner with Nucor and help them with their sustainability initiatives in a cost-effective manner,” said Ryan Pfaff, Executive Vice President, Grid-Scale Power at EDF Renewables.  “Nucor’s decision to procure solar energy allows this project to move forward into construction, which will provide an economic boost to the local economy through new construction jobs and expanded tax base.”

GreenFront Energy Partners, an alternative energy advisory firm based in Richmond, Virginia, acted as Nucor’s financial adviser on this transaction.  WattTime, a clean energy-focused subsidiary of the Rocky Mountain Institute, assisted Nucor with evaluating the avoided emissions impact of the agreement.

Nucor and its affiliates are manufacturers of steel and steel products, with operating facilities in the United States, Canada and Mexico. Products produced include: carbon and alloy steel — in bars, beams, sheet and plate; hollow structural section tubing; electrical conduit; steel piling; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; precision castings; steel fasteners; metal building systems; steel grating; and wire and wire mesh. Nucor, through The David J. Joseph Company, also brokers ferrous and nonferrous metals, pig iron and hot briquetted iron / direct reduced iron; supplies ferro-alloys; and processes ferrous and nonferrous scrap. Nucor is North America’s largest recycler

Certain statements contained in this news release are “forward-looking statements” that involve risks and uncertainties. The words “anticipate,” “believe,” “expect,” “project,” “may,” “will,” “should,” “could” and similar expressions are intended to identify those forward-looking statements. These forward-looking statements reflect the Company’s best judgment based on current information, and although we base these statements on circumstances that we believe to be reasonable when made, there can be no assurance that future events will not affect the accuracy of such forward-looking information. As such, the forward-looking statements are not guarantees of future performance, and actual results may vary materially from the projected results and expectations discussed in this news release. Factors that might cause the Company’s actual results to differ materially from those anticipated in forward-looking statements include, but are not limited to: (1) competitive pressure on sales and pricing, including pressure from imports and substitute materials; (2) U.S. and foreign trade policies affecting steel imports or exports; (3) the sensitivity of the results of our operations to prevailing steel prices and changes in the supply and cost of raw materials, including pig iron, iron ore and scrap steel; (4) market demand for steel products, which, in the case of many of our products, is driven by the level of nonresidential construction activity in the United States, as well as prevailing domestic prices for oil and gas; (5) energy costs and availability; and (6) the impact of the COVID-19 pandemic. These and other factors are discussed in Nucor’s regulatory filings with the Securities and Exchange Commission, including those in “Item 1A. Risk Factors” of Nucor’s Annual Report on Form 10-K for the year ended December 31, 2019 and in “Item 1A. Risk Factors” of Nucor’s Quarterly Report on Form 10-Q for the quarter ended October 3, 2020. The forward-looking statements contained in this news release speak only as of this date, and Nucor does not assume any obligation to update them, except as may be required by applicable law.

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SOURCE Nucor Corporation