Cision Distribution 888-776-0942 The guidance seems to suggest that it should be relatively in line with the second quarter. Curt, thank you for the question. Both Ray Long, chairman of the Morgan County Commission, and Decatur Mayor Tab Bowling said they are excited by the job opportunities being created by Nucors investment project. As youre also aware, we closed on C.H.I. of Nucor is North America's largest recycler. Details can be seen in Leon J Topalian's Latest Holdings Summary section. Please. Were proud to call them Nucor team members, and the growth that theyre going to bring in the coming years is something incredibly exciting for us. Leon J. Topalian is President, Chief Executive Officer & Director at Nucor Corp. The company also produces direct reduced iron for use in its steel mills. Steve? Most recently he sold Fri, Dec 9 20227:06 PM EST. Thank you for your interest in our company. Soon enough Kim had reached her second goal: 32 weeks. At this time, there are no further questions. I will ask Rex Query, our EVP of Sheet and Tubular, to give an update on Gallatin. Mr. Topalian began his career with Nucor as a project engineer at Nucor Steel-Berkeley in 1996 and was promoted to Cold Mill Production Supervisor in 1998. But well gauge that to what the market is doing off of that. But our market share position remains strong. Mr. Kearney has served in various positions at SPX FLOW, Inc. (a spin-off of SPX Corporation) from 2015 to 2017 (including as Non-Executive Chairman of its board of directors and as Chairman, President and Chief Executive Officer) and SPX Corporation from 1997 to 2015 (including as its Chairman, President and Chief Executive Officer, Vice President, Secretary and General Counsel and as a member of the board). And were incredibly proud of our team and achieving an incredible quarter, an incredible first half of the year at over $17 per diluted share. today. First thing, I want to acknowledge the great work that the mills in our raw materials group has done over the last six months, tremendous flexibility and execution to react to the changes in the supply chain. These . Good day, everyone, and welcome to the Nucor Corporation Second Quarter of 2022 Earnings Call. We said, Lord, if you allow us to have these babies, what a miracle it will be.. Reshoring semiconductor production here in America gives us a tremendous opportunity to unleash a manufacturing renaissance in the United States. In addition to that, were bringing on these new businesses in Expand Beyond. Learn More on Leon J. Topalian's trading history. sale Enter your email address below to get our daily insider buying and selling report. As of 20 Dec 2022 More information about the risks and uncertainties relating to these forward-looking statements may be found in Nucors latest 10-K and subsequently filed 10-Qs, which are available on the SECs and Nucors website. Nucor, which already has a significant presence in Alabama, has committed to creating 200 full-time jobs at the facility in Decatur. Learn More about insider trades at Nucor. All rights reserved. Nucor executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, Stocks and cryptocurrency portfolio tracker. Nucor Corp. has a long-standing manufacturing presence in Alabama, and its great to see the new Nucor Towers & Structures business unit commence operations in Decatur, said Greg Canfield, Secretary of the Alabama Department of Commerce. But yes, we are seeing, again, stable demand and growing in some cases. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. And Q2, we saw much of the same. The further out towards the coast you get, the market share has dropped off a little bit. So, at $1.1 billion of net earnings for our products group, they are setting an incredibly high bar and really operating on all cylinders. sale Mr. Topalian was named President and Chief Executive Officer effective January 1, 2020. You might contact Leon J Topalian via mailing address: 1915 Rexford Road, Charlotte Nc 28211. After spending three weeks in the NICU, the girls were eating and breathing well on their own. of 171,494 shares. Mr. Kearney founded Eagle Marsh Holdings, LLC in 2016 and has served as its managing partner since inception. Ill speak first -- well speak about the first half of the year. We are so excited to welcome our new team members into the Nucor family. Strong financial results were recorded by a number of our businesses, including bar, plate, sheet, structural, joist, deck, buildings, tubular and our raw material operations. From market futures to live price updates CNBC is the leader in business news worldwide. Thanks, Curt. Weve cut our pig use by about 50%, which also has led to a reduction in greenhouse gas emissions and has really been a key part of supporting our record earnings. revision of the 2016 edition. And as a group, though, in its entirety, the steel, joist and deck buildings, different segments that are contained in our steel products group had a record quarter in this past quarter. Name Total COMPENSATION; Christopher J. Kearney: Sold (or bought if negative) in USD Topalian Leon J HALL LADD R DARSEY JAM. Ill ask Doug Jellison, our EVP of Raw Materials and Logistics, really to provide some background in how that flow-through impact of the DRI pricing into the mills works and explain that in a little more detail. The company's Raw Materials segment produces direct reduced iron (DRI); brokers ferrous and nonferrous metals, pig iron, hot briquetted iron, and DRI; supplies ferro-alloys; and processes ferrous and nonferrous scrap metal, as well as engages in the natural gas drilling operations. Enter the email address you signed up with and we'll email you a reset link. Youre asking about pig iron. For industrial furnaces for steel strip treatment in erection, pre-commissioning and commissioning activities for more than 6 years. It has been an honor to work with him in his role as Non-Executive Chairman these past few years, and I have benefitted from his experience and perspective. [1] References [ edit] ^ Henderson, Bruce (6 September 2019). The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. Turning to policy issues. Operating profits were stronger than we anticipated for all three segments. Our utilization in Q2 was improved from Q1. Its very exciting. And Ill let you take a best guess at that. It was a shock, especially the twin part. Mr. Kearney founded Eagle Marsh Holdings, LLC in 2016 and has served as its managing partner since inception. On average, Nucor executives and independent directors trade stock every 53 days with the average trade being worth of $2,586,382. With her new goal in distant sight, Kim settled into her room on the Antepartum Unit for the next 53 days. We want the transfer price to reflect the market price into the steel mills, so that will reflect in those segment reporting. Our team is focused on enhancing our capabilities, not simply adding capacity, and on delivering a differentiated value proposition for our customers by reliably and safely providing a broad offering of the most environmentally responsible steels and steel products found anywhere in the world. MONTGOMERY - Governor Kay Ivey today announced that Nucor Corp. plans to invest approximately $125 million to open an advanced manufacturing facility in Alabama where a new business unit, Nucor Towers & Structures, will produce transmission towers. After the tour, Dr. Bridges sat down with us and went over the statistical facts of survival rates. "I am honored to have been chosen by my fellow directors to serve as Lead Director of the Board and welcome the opportunity to serve the Board and all Nucor teammates in this new role," Kearney said. Click Here for Your Free Ultimate Dividend Package. Leon J Topalian made Charlotte, North Carolina-based Nucor established the new business unit after its 2022 acquisition of Summit Utility Structures LLC and Sovereign Steel Manufacturing LLC, which produces metal poles and other steel structures for utility infrastructure and highway signage. And then, my follow-up is just on the steel mill side. With respect to Gallatin, can you just give us an update on progress there and what your commercial expectations are for volumes in the fourth quarter? So, service centers is a big product segment. Is it possible to get an update on how you see CapEx for the remainder of the year, maybe first look at 2023? What is the salary of Mr Topalian? Hey. We continue to want to be great stewards and great shepherds to return that valuable shareholder capital. We came through so much, but they are here because of answered prayers.. So thanks for the question. As a reminder, todays call is being recorded. side will be mostly organic growth from here. Thank you for your hard work and dedication and commitment to delivering exceptional customer service. Leon J. Topalian Chair, President and Chief Executive Officer + Stephen D. Laxton Chief Financial Officer, Treasurer and Executive Vice President + David A. Sumoski Chief Operating Officer + Al Behr Executive Vice President Plate and Structural Products + Noah Hanners Executive Vice President Raw Materials + John Hollatz Executive Vice President And Steve, do you want to touch on sort of our CapEx for the balance of the year and how were looking? So, you would look right at that 3 million ton run rate annualized. John Hollatz was promoted to Executive Vice President of Bar, Engineered Bar and Rebar Fabrication. Get notified the next time Leon J. Topalian buys or sells Nucor stock. Details can be seen in Leon J Topalian's Latest Holdings Summary section. Officials in Morgan County welcome Nucors growth plans in the North Alabama community. Have a great day. I would just say we would expect continued robust markets. . Chad, why dont you just kind of break through a little bit of that split and how thats looking, whats our forecasting into Q3 and Q4? This segment sells its products to steel service centers, fabricators, and manufacturers in the United States, Canada, and Mexico. We are a one-stop shop and can solve the entity and entirety of their steel needs. And as a result, you are seeing higher highs and higher lows. Overhead Doors in June. So, that was how we handled that, took care of customers through supply from other mills. Leon Topalian is CEO of Nucor Corp. Thu, Jan 26 20236:56 PM EST. Thank you all for your participation. And thats how were thinking about it as we move forward and the types of businesses Chad will be responsible for in the Expand Beyond category. The result is that today, we are the leading North American manufacturer of a diverse array of steels and steel products providing essential solutions for construction, infrastructure, energy, transportation, automotive, capital goods and consumer-durable market applications. Hannibal Industries is in doing that. And automotive is a good example. The estimated net worth of Mr. Leon J. Topalian is at least $50,405,624 as of 20 Dec 2022. As we execute on our mission statement, to grow the core, expand beyond and live our culture, these investments are excellent examples of what we look for and expand beyond businesses. Education and Research (BMBF), Germany Non-industry 119 11,409 95.9 104 28 Journal of Clinical Oncology (14), Blood (10), Diabetes Care (9) . They serve growing markets and leverage Nucors core manufacturing capabilities and our safety and team-focused, incentive-driven, entrepreneurial culture. We look forward to working with them to make sure this venture is successful, said Long. I have served Harris Rebar Colombo (Pvt) Ltd as a Rebar detailer using RebarCAD software (Canada & USA) for 5+ years (from 2014 to 2020) and handled projects as a group leader in USA. "I am honored to have been chosen by my fellow directors to serve as Lead Director of the Board and welcome the opportunity to serve the Board and all Nucor teammates in this new role," Kearney said. The corporate mailing address for Mr. Topalian and other Nucor executives is 1915 REXFORD ROAD, CHARLOTTE NC, 28211. ( View post) Feb 23. from 8 AM - 9 PM ET. With regard to plate, I would say weve made several changes on how we market that product, how we take it to market, how we price it and how we lowered our order books. But as Chad mentioned, and I think its an incredibly important part, our industry is shifted and it shifted substantially through reconciliations, through consolidation and through trade. We have world-class manufacturing talent, and we are making the right investments to continue our track record of outperformance. And we remain really excited about the opportunities in structural as we talk to fabricators and we talk to the what I call the consumptive demand part of the market, the folks that are buying our steel and making something out of it is still really strong. And you asked about 2023. Thanks, Curt. I think the underlying demand, the consumable spending appetite in this country still remains fairly high. stock. And in May, the State of West Virginia approved the air quality permit for our new sheet mill in Mason County. If we just look, for example, at the warehousing space, forecast by Dodge for 2023 is down about 19%. Nucor has an additional $3.6 billion of approved and in-process organic growth investments that will be completed by 2025. As we evaluate growth initiatives, either in our core business or by expanding beyond, we focused on driving incremental value by leveraging our capabilities and existing positions of strength as we have done for the last 5.5 decades throughout our history. What does that mean for your cost of inventory today? Topalian will take over as CEO on Jan. 1. Its just a tremendous outcome, and again, something that we and the entire executive team could not be more proud of the 30,000 men and women who make up the Nucor family. You have permission to edit this article. "I want to thank John for his numerous contributions to Nucor. This Expand Beyond piece over the last 2.5 years driven really by Steve Laxton before he became CFO and Alex Hoffman is really about finding those companies that provide a differentiated value proposition and moving us sort of that one standard deviation outside of the normal and traditional steelmaking lane that have direct steel adjacency, but like C.H.I. Its delivering uncompromising results in every area of our business and doing that while maintaining the safety, health and wellbeing of our team. It has an affiliated registered investment adviser, which serves as the subadviser to an exchange traded fund. This is Steve. Good afternoon and welcome to our second quarter earnings call. Yes. We also remain committed to our regular quarterly dividend, something Nucor has paid and grown consistently over the last half century. a net One of the finest books about Catholic social teaching The real social teachings of the Church developed over centuries by a long line of popes saints and approved . The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. The expansion will add about 1.4 million. This will be the cleanest offshore-powered steel that exists in the world, and we stand in a perfect position to serve that market. I will turn the call back over to Leon for any additional or closing comments. Once in the hospital, the couple and Kims physicians decided that they would deliver by caesarean section if she made it to 32 weeks. Our people are our strength in Morgan County, said state Sen. Arthur Orr, who serves as chairman of the Morgan County Economic Development Association. Leon J. Topalian Chair, President, and Chief Executive Officer Stephen D. Laxton Chief Financial Officer, Treasurer, and Executive Vice President David A. Sumoski Chief Operating Officer Gregory J. Murphy General Counsel and Executive Vice President - Business Services John Hollatz Finally, todays headlines are full of concerns regarding inflation, interest rate hikes and whether well experience a recession. In this new role, Chad will focus on our continued growth into new markets and integrating new businesses into the core operations of Nucor. While this is a positive development, unfairly traded imports remain a concern for our industry. We have also grown our workforce from 1,800 team members back in 1972 to more than 31,000 team members today and in the process created a huge amount of shareholder value. You dont have to worry about doors or joist or deck or grading or anything else. That segment produced $1.1 billion in operating profits for the quarter. And congrats on the exceptional quarter. On Day One upon becoming Nucor's CEO, I let our 30,000 teammates know. How do you see margins? About NucorNucor and its affiliates are manufacturers of steel and steel products, with operating facilities in the United States, Canada and Mexico. We are not atrading platform and do not offer tobuy stock or sell any security. Our ramp-up also in what we produce will be determined also by whats going on in the marketplace. Sign up and learn more about the CNBC Investing Club with Jim Cramer https://cnb.cx/3Ei22n4 Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision Subscribe to CNBC: https://cnb.cx/SubscribeCNBCTurn to CNBC TV for the latest stock market news and analysis. 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. Please note GuruFocus will not track the insiders transaction performance if he/she does not have buying transactions. As part of this reorganization, Chad Utermark has been appointed to the newly created role of Executive Vice President of New Markets and Innovation. As we announced in May, MaryEmily Slate retired on June 11th. So, having C.H.I. We absolutely expect in the fourth quarter to run at really nameplate capacity. Timna, where we see, maybe a little more color. He began his career with Nucor as a project engineer at Nucor Steel-Berkeley in 1996 and was promoted to Cold Mill Production Supervisor in 1998. For the third quarter, we expect lower earnings from our steel mills segment relative to Q2, and we expect continued strength in steel products and raw materials with performance roughly in line with the second quarter. That -- the new equipment, were capable of 73.5 inches. the Chair, President and CEO of Nucor Corp and owns about 128,107 shares of Nucor Corp (NUE) stock worth over $22 Million. Nucor and its affiliates are manufacturers of steel and steel products, with operating facilities in the United States, Canada and Mexico. We achieved record second quarter earnings per share of $9.67 and record first half earnings of $17.30. The positions, which have an average annual compensation of $75,000, will be filled over a four-year period. This is a game-changing mill in the U.S. plate market that will firmly establish us as the market leader in plate. We expect these investments to generate at least $370 million of combined annual EBITDA, once fully ramped up at mid-cycle performance and considerably more in robust market conditions, like the ones were seeing now. He has earned $13,035,624 Thanks a lot. Although Nucor believes they are based on reasonable assumptions, there can be no assurance that future events will not affect their accuracy. But how much of Gallatin was in the second quarter? Nucor Corp. engages in the manufacturing of steel and steel products. Nucor Corporation was incorporated in 1958 and is based in Charlotte, North Carolina. So the pipeline is rich. Since entering the steel business, we have focused on growing long-term earnings power and shareholder value. But do you see other opportunities to make downstream acquisitions? Thank you. Leon J. Topalian is the Pres, CEO & Director at Nucor. Mr. Kearney was also director of Polypore International, Inc. from 2012 to 2015. now in the portfolio continues to differentiate Nucor as a one-stop differentiated supplier that can take care of all the needs. from insider trading and has received compensation worth at least Strike.Market does not provide financial advice or recommendations. Cash provided by operating activities during the quarter was $2.3 billion, enabling both continued investment to grow Nucors future earnings power and the return of approximately $900 million of our shareholders valuable capital via dividends and share repurchases. Steel racking, steel towers, and obviously, the overhead steel doors with the acquisition of C.H.I., all these should positively impact our profitability as we fully utilize and integrate these products into our Construction Solutions portfolio. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. And look, I would tell you that right now, theres a lot of dialogue going on. Prior to that time, he held various leadership positions at Nucor, including President and Chief Operating Officer in 2019, Executive Vice President from 2017 to 2019, and Vice President from 2013 to 2017. Leon J. Topalian has not been actively trading shares of Nucor during the last quarter. Can you explain what would drive that given the weaker scrap and pig iron prices that were seeing in the spot market Q-over-Q? Mr. Topalian has been President and Chief Executive Officer of Nucor and a member of its Board of Directors since 2020. Other key executives at Nucor Corp include This is a great company with a great reputation for working with us to make Morgan County a better place to live. He also serves as a director of Otis Worldwide Corporation (having previously served as Executive Chairman of the Otis board of directors from 2020 to 2022) and served as a director of UTC from 2018 to 2020, prior to the spin-off of Otis from UTC. Also joining me today on the call are members of the Nucors executive team, including Dave Sumoski, our Chief Operating Officer; Steve Laxton, our Chief Financial Officer; Al Behr, responsible for Plate and Structural Products; Doug Jellison, responsible for Raw Materials and Logistics, Greg Murphy, responsible for Business Services and our General Counsel; and Rex Query, responsible for Sheet and Tubular Products. sale With the outages, we were a little bit under that at Gallatin, but we augmented that with other sheet mills in our group. So, our utilization may have ticked down just slightly in the structural side. The election and announcement took place at AISI's board of directors meeting held at AISI headquarters, as well as virtually. As of 20 December 2022 he still owns at least 126,809 units of Nucor stock. The largest trade he's ever made was exercising 47,581 units of NUE stock on 26 Mar 2021. So, you have an opportunity -- or we have an opportunity to really grow that business with what we have today. Yes. Again, fabricators are a big part of that plate business. Nucor CEO Leon Topalian on Q3 earnings and the company's outlook 2,450 views Oct 21, 2021 Leon Topalian, Nucor president and CEO, joins 'Squawk on the Street' to discuss Nucor's Q3 earnings. Her impact on our teams across the enterprise contributed greatly to Nucors success and profitable growth. 2004-2023 GuruFocus.com, LLC. $1,000 invested in Nucor when we were first listed would be worth over $1.6 million today. Learn More on Leon J. Topalian's contact information. 3,000 shares on December 20, 2022, which In summary, during the past 3 months, insiders sold 57,932 shares of Nucor Corp (NUE) in total and bought 0 shares, with a net CHARLOTTE, N.C., Feb. 22, 2023 /PRNewswire/ -- Nucor Corporation (NYSE: NUE) announced today that the Company's Towers & Structures business unit will build a new state-of-the-art transmission tower production plant in Decatur, Alabama.The new plant will be located adjacent to the Nucor Steel Decatur sheet steel mill and will be the first of two new tower production plants the Company plans to . Certain statements made during the conference will be forward-looking statements that involve risks and uncertainties. Oh, Im sorry. Weve made progress, and Im proud of where the team is at and where were headed. And importantly, we remain committed to additional direct returns to shareholders in times of strong performance with an overall payout ratio of at least 40% of net earnings. The company's Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling products; and bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products. Lebanese American University page 58 The following grants were established to support the Financial Aid program to needy and deserving students under the President's Fund: A.M. Qattan Foundation President's Fund Ali A. Tamimi Co. President's Fund Emily Nasrallah President's Fund Fredrico Senno President's Fund George Faris President's Fund George Zakhem President's Fund Georges . The quarters earnings of $9.67 per diluted share exceeded our prior quarterly record of $7.97 per share by more than 20%. Leon J. Topalian Chair, President & CEO Join to edit Mr. Topalian was named President and Chief Operating Officer on September 5, 2019. Above is the net worth, insider trading, and ownership report for Leon J Topalian. Before we get to our second quarter results, I want to highlight some changes weve made to our executive leadership team. Were proud of them already. Specifically to your question on structural and plate, Ill let Al Behr, our EVP of Plate and Structural, touch on it. When I took over in January of 2020, our eight-word mission statement is alive and well, and thats Grow Our Core, Expand Beyond and Live Our Culture. Really grow that business with what we have focused on growing long-term earnings power leon topalian education shareholder.! Or closing comments traded imports remain a concern for our industry Holdings Summary section Nucor. 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