Every one of those buildings has somewhere between 4 and 12 to 15 doors on every building. So, that was how we handled that, took care of customers through supply from other mills. Isabella and Sophia were delivered at McLeod Regional Medical Center on March 25, 2009, by Dr. Kelly Rainwater with assistance from Bridges. 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. There are 1 executives at Nucor getting paid more, with JamesFrias having the highest compensation of $6,145,810. So, having C.H.I. As a reminder, todays call is being recorded. They serve growing markets and leverage Nucors core manufacturing capabilities and our safety and team-focused, incentive-driven, entrepreneurial culture. Number one, weve been making some changes in our businesses through the years, and weve talked about some of those, from restructuring some of our business to bringing on a construction solutions team, even alignment within our groups to better, more effective commercial practices and expectations that drive higher EBITDA margins. The further out towards the coast you get, the market share has dropped off a little bit. Ive got two points on raw material strategy, please. So just a big shout-out to all of our downstream product groups. For example, our Nucor Steel Gallatin modernization and expansion project is now fully operational, having completed the last of their project-related outage work on June 6th. Doug? And you asked about 2023. Mr Topalian is 53, he's been the Pres and CEO & Director of Nucor since . Prior to that time, he held various leadership positions at Nucor,. John J. Ferriola retired at the end of 2019, and was succeeded by longtime Nucor executive Topalian as CEO and president from January 2020.[1]. This is a game-changing mill in the U.S. plate market that will firmly establish us as the market leader in plate. But as we start to put the mill through its paces, well go wider and wider. There are 1 executives at Nucor getting paid more, with James Frias having the highest compensation of $6,145,810. acquisition, look, in our minds, we acquired the very best company out there in that space, period, bar none. Click here to see the complete history of Leon J Topalians form 4 insider trades. Learn More on Leon J. Topalian's trading history. Learn More about Leon J. Topalian's net worth. a net Leon Topalian presided over a record-shattering year at Nucor Corp. in 2021, and the company is on pace to beat that this year, despite some slowing in the third quarter. He appears on "Balance of Power." Watch or read the transcript below. Nucor can also be reached via phone at (704) 366-7000 and via email at [emailprotected] Learn More on Leon J. Topalian's contact information. 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. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Thanks, Emily. I want to thank our 31,000 teammates for these fantastic results. LEON TOPALIAN is Chair, President and Chief Executive Officer of Nucor Corporation. Its Steel Products segment offers hollow structural section steel tubing products, electrical conduits, steel racking, steel joists and joist girders, steel decks, fabricated concrete reinforcing steel products, cold finished steel products, steel fasteners, metal building systems, insulated metal panels, steel grating and expanded metal products, and wire and wire mesh products primarily for use in nonresidential construction applications. Leon J Topalian made Operating profits were stronger than we anticipated for all three segments. And again, if we look at our most recent order books, sheets strong. Good afternoon and welcome to our second quarter earnings call. 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. Leon Topalian is CEO of Nucor Corp. Alabama offers world-class companies like Nucor all the advantages they need to find success, including a skilled workforce, a pro-business environment and a solid support system, said Governor Ivey. Hannibal Industries is in doing that. As Leon mentioned, we have multiple businesses from joist and deck, rebar fab, steel piling, racking, tubing, insulated panel, grading. Yes. Yes. Nucor, which already has a significant presence in Alabama, has committed to creating 200 full-time jobs at the facility in Decatur. The nurses already knew who we were, Leon said. The largest trade he's ever made was exercising 47,581 units of NUE stock on 26 Mar 2021. Learn More about Leon J. Topalian's net worth. This record performance was driven by strength across our diversified portfolio of businesses. side will be mostly organic growth from here. 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. 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. This became Kims goal. , Although Nucor believes they are based on reasonable assumptions, there can be no assurance that future events will not affect their accuracy. So, its 60% higher than what we did in 2018. John Hollatz was promoted to Executive Vice President of Bar, Engineered Bar and Rebar Fabrication. It has an affiliated registered investment adviser, which serves as the subadviser to an exchange traded fund. 69-year-old suffered stroke in his N.C. home; Realtor showing house left him there. In his past career he held the position of General Manager at Nucor-Yamato Steel Co., General Manager for Nucor Steel Kankakee, Inc., Manager-Melting & Casting at Nucor Steel-South Carolina and Project Engineer at Nucor Steel Berkeley. Thank you all for your participation. Marjorie Matthews died aged 90 on February 8 after a battle with cancer. And then, if I may squeeze another one. 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 automotive is a good example. You dont have to worry about doors or joist or deck or grading or anything else. Great. Based on ownership reports from SEC filings, as the reporting owner, Leon J Topalian owns 1 companies in total, including While we recognize there is considerable economic uncertainty right now, demand appears stable and resilient across our key end-use markets. Okay, Carlos. the Chair, President and CEO of Nucor Corp and owns about 128,107 shares of Nucor Corp (NUE) stock worth over $22 Million. And Id say thats just not chasing the cheap tons. 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 . Strike.Market does not provide financial advice or recommendations. And while thats the forecast and its easy to say that, I truly believe that. Truck and railcar availability remains a bit challenged and probably slowed up a few tons. But how are market participants acting now? The largest trade he's Groundbreaking for the project will happen later this year. Nucor is North America's largest recycler. Our order book improved when we talk about project work from bridges from infrastructure, which we expect to mainly hit in 2023 but is starting to strengthen even today. Other transactions such as conversion of derivative security or exercise of options are not included. now in the portfolio continues to differentiate Nucor as a one-stop differentiated supplier that can take care of all the needs. ICYMI: Leon Topalian, Nucor Corporation CEO and Chairman of AISI discussed WTO's ruling against U.S. steel tariffs on CNBC's Mad Money: Mihai Pirlog Jerry Inzerillo, GCEO at #DGDA, came forward to congratulate and honor the sales center team that completed their training program in the history Bottom line in some of our business is downstream, we needed to get better. In the face of these discouraging statistics, Kim turned to her friends, her family, and her faith for support. Leon joined Nucor in 1996 as a project engineer at Nucor Steel - Berkeley in Huger, South Carolina and was promoted to Cold Mill Production Supervisor in 1998. Leon J Topalian is the Executive Vice President of Nucor Corp. Between this past December and this year-end, we expect to have completed three major organic growth projects that will substantially enhance the competitive position of our steel mills segment. But equally, that drop in 19% for 2023 is 60% higher than what we saw our previous record year, which was 2018 prior to 2021. 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 . Finally, todays headlines are full of concerns regarding inflation, interest rate hikes and whether well experience a recession. The operations include international trading and sales companies that buy and sell steel and steel products manufactured by the company and others. Fri, Dec 9 20227:06 PM EST. Thanks for the questions, Seth. Nucor Corporation was incorporated in 1958 and is based in Charlotte, North Carolina. CHARLOTTE, N.C., Dec. 13, 2019 /PRNewswire/ -- Nucor Corporation (NYSE: NUE) announced today that its Board of Directors has elected Leon J. Topalian as a director and John H. Walker to serve as . Formerly of Topalian's Newsagents, Grange . 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. And Al, I wont steal all your thunder, but we couldnt be more excited about the shift and whats moving in plate. Over his 23-year Nucor career, he has served in our Joist and Deck, Building Systems and Flat-rolled businesses. And weve got, I think, good questions on the Gallatin front. Our metal margins decreased by about 5% from the first quarters $941 per ton to a still robust $895 per ton. Speakers include: Reliance's Karla Lewis and Nucor's Leon Topalian on diversity, equity, and inclusion The Honorable Paul Ryan former speaker of the U.S. House of Representatives, where Nucor has a long history and presence throughout the state," said Leon Topalian, Chair, President and CEO of Nucor Corp. "As America's most diverse industrial manufacturer of steel products, we will be able to . While this is a positive development, unfairly traded imports remain a concern for our industry. 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. Her parents moved into the Topalians home in Florence to take care of the household while Leon was in Charlotte for work during the weekdays. Also, increased federal government support for electric infrastructure and clean energy projects will drive additional demand. Our local economic development office along with its numerous partners continue to work hard to bring new industries and quality jobs to Decatur. Nucor's board named Leon Topalian, 51, president and chief operating officer effective Thursday. "I want to thank John for his numerous contributions to Nucor. [Operator Instructions] And well first hear from Curt Woodworth of Credit Suisse. The operating business segments are: steel mills, steel products and raw materials, the steel mills segment derives maximum revenue. Pepperoni Grill. Next, well hear from Emily Chieng of Goldman Sachs. So, a big shout-out to the team and a thank you. Fundamental company data provided by Morningstar, updated daily. Also during the second quarter, we completed our purchase of C.H.I. Nucor is North America's largest recycler. Mr. Leon J. Topalian has made 14 insider trades between 2017-2022, according to the Form 4 filled with the SEC.Most recently he sold 200 units of NUE stock worth $26,947 on 20 Dec 2022.. The words we expect, believe, anticipate, and variations of such words and similar expressions are intended to identify those forward-looking statements, which are based on managements current expectations and information that is currently available. He also receives $1,670,000 And then, Steve, if you would, on the CapEx? Learn More on Leon J. Topalian's contact information. Look, I think so. [1] References [ edit] ^ Henderson, Bruce (6 September 2019). ICYMI: Leon Topalian, Nucor Corporation CEO and Chairman of AISI discussed WTO's ruling against U.S. steel tariffs on CNBC's Mad Money: Shared by Alix Virgona Our teammates at Nucor Steel. and Nucor Corporation. Please disable your ad-blocker and refresh. We wanted two more children and the fact that God gave us two at one time was a real blessing.. of 13,387 shares made by Allen C Behr But, were not seeing any real movement in terms of material orders. The oldest executive at Nucor Corp. is JosephRupp, 69, who is the Director. These orders are critical to market stability and industry performance and are an important part of our governments trade enforcement toolkit. It also engages in the steel trading and rebar distribution businesses. As Leon mentioned, this years second quarter was the best quarterly financial performance in our companys history. Yes. The estimated net worth of Mr. Leon J. Topalian is at least $50,405,624 as of 20 Dec 2022. While we are all aware of these factors, Nucors sustainable and flexible business model gives me great confidence in our ability to continue to grow and create value for our shareholders. So, when we talk about the buildup to the start-up of Brandenburg by the end of this year in the markets, it will start to serve and open up for us in renewables like offshore wind and some, even specialty pipe work. 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. During the second quarter, Nucor funded $520 million in capital expenditures and $3.1 billion in acquisitions. 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. And in May, the State of West Virginia approved the air quality permit for our new sheet mill in Mason County. Section 2.2 as "other steel, iron, or. Our energy cost per ton of steel produced was up approximately 50% year-over-year. of 48,302 shares made by D. Chad Utermark We are also thankful for the approximately $125 million investment and the 200 jobs created with a compensation of around $75,000, added Bowling. ( View post) Feb 23. And thinking about the longer term, with balance sheet strength and product diversity that is unparalleled in our industry, coupled with our highly variable and adaptive business model, we remain confident that Nucor is well positioned to deliver on our commitments to our team, our customers and our shareholders over time. The ITC is conducting several more five-year sunset reviews this year off key trade orders on flat-rolled products. We are grateful for the excellent job they do for employers like Nucor and others across the area.. I look forward to working closely with Chris and the rest of Board to continue to build on Nucor's success.". Next, well hear from Michael Leshock of KeyBanc Capital Markets. Sold (or bought if negative) in USD Topalian Leon J HALL LADD R DARSEY JAM. Oh, Im sorry. The Topalians were also told they could expect a 50 percent survival rate. You have permission to edit this article. "I feel very privileged to take on this role at Nucor and thank the Board for its confidence in me," Topalian said. Joseph Company, also brokers ferrous and nonferrous metals, pig iron and hot, ; and processes ferrous and nonferrous scrap. And Steve, do you want to touch on sort of our CapEx for the balance of the year and how were looking? NewsBreak provides latest and breaking news about Leon Topalian. Kurt, thank you. Mr. Topalian has been President and Chief Executive Officer of Nucor and a member of its Board of Directors since 2020. We will continue to work hard to earn that business well into the future. In May, we felt it was prudent to enhance liquidity and raised $500 million of senior notes with a three-year maturity and a coupon of 3.95% and $500 million of senior notes with five-year maturity and a coupon of 4.3%. This segments earnings power and strong free cash flow characteristics continue to make key contributions to our overall performance. Describe your leadership style and how you put it into action within your organization. I wanted to follow up on your M&A commentary. And the other was to ask about follow-up to the garage door acquisition. Topalian will take over as CEO on Jan. 1. Good afternoon, Leon and team. 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. I will ask Rex Query, our EVP of Sheet and Tubular, to give an update on Gallatin. Mr. Topalian has been President and Chief Executive Officer of Nucor and a member of its Board of Directors since 2020. Yes, Timna. Curt, thank you for the question. Leon J. Topalian Chair, President & CEO Join to edit Mr. Topalian was named President and Chief Operating Officer on September 5, 2019. Nucor is North America's largest recycler. Thank you to our customers, and thank you for the trust that you place in each and every one of our Nucor teams for your business. Again, fabricators are a big part of that plate business. All equipment is being commissioned at this point. In our steel mills segment, shipping volumes were up by 10%. Weve certainly been seeing a little bit more of a buyer strike type of activity from -- on the customers and as it relates to sort of hot-rolled. Some of the changes in the energy commodity pricing seen in the marketplace overall over the past year were mitigated by Nucors fiscal and financial hedges that we had in place. Wrexham AFC fans out in force to bag pre-sale Kings of Leon tickets. Sure, Leon. Products produced include: carbon and alloy steel -- in bars, beams, sheet and plate; hollow structural section tubing; electrical conduit; steel racking; steel piling; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; precision castings; steel fasteners; metal building systems; insulated metal panels; overhead doors; steel grating; and wire and wire mesh. And finally, thank you to our shareholders for the trusted capital that you place in our hands. The company was founded by Ransom E. Olds in 1905 and is headquartered in Charlotte, NC. 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 So very excited, very proud of that team. On Day One upon becoming Nucor's CEO, I let our 30,000 teammates know. So, now that the outage is complete, equipment is installed, our run rate will ramp up, and were putting the equipment through its paces. Its very exciting. And perhaps what are the categories that are taking some of the early wins there? Leon J Topalian is Nucor is working hard to ensure that they all remain in place. Hey Chad, one thing Ill add and just maybe a further point, Carlos, to share some of this. We came through so much, but they are here because of answered prayers.. Most of the increase was in sheet and plate as we were able to take advantage of what we consider to be strong demand, leading to attractive pricing in those markets. As part of this reorganization, Chad Utermark has been appointed to the newly created role of Executive Vice President of New Markets and Innovation. Our utilization remains right where wed expect it. Before we get to our second quarter results, I want to highlight some changes we've made to our executive. And as you may recall, original stated capacity for that mill, about 1.6 million tons. Is it possible to get an update on how you see CapEx for the remainder of the year, maybe first look at 2023? The expansion will add about 1.4 million. We continue to want to be great stewards and great shepherds to return that valuable shareholder capital. stock. Leon J. Topalian is President, Chief Executive Officer & Director at Nucor Corp. So, our opportunity really isnt to move or look for other large garage door companies. Several of our recently completed organic growth projects in our core steelmaking businesses are already contributing to our record first half profitability, and there is more to come as additional projects ramp up production or come on line. a net Mr. Topalian was named President and Chief Executive Officer effective January 1, 2020. But that is an incredible construction solution piece. sale 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. We are not atrading platform and do not offer tobuy stock or sell any security. Mr. Kearney was also director of Polypore International, Inc. from 2012 to 2015. Only the transactions in Open Market or Private Sale at the market prices are included. On average, Nucor executives and independent directors trade stock every 53 days with the average trade being worth of $2,586,382. According to the SEC Form 4 filings, Leon J Topalian has made a total of So, we still see that nonres construction space that is the driver for these businesses, as Al mentioned earlier, to be very strong. And then secondly, from the raw materials side, I think your guidance includes higher DRI price realizations in Q3. Weve awarded our significant portions of civil and concrete work. Thank you. 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. Il s'agit d'un socit dont la forme juridique est Le code d'activit . Please note GuruFocus will not track the insiders transaction performance if he/she does not have buying transactions. Thank you. We spent about $1 billion so far. Enjoy a 7-Day Free Trial Thru Mar 09, 2023! I look forward to working closely with Chris and the rest of Board to continue to build on Nucor's success.". And in some of our businesses, our backlogs are still at record levels. Once in the hospital, the couple and Kims physicians decided that they would deliver by caesarean section if she made it to 32 weeks. of 171,494 shares. 3,000 shares on December 20, 2022, which Let me start off with our steel products businesses. And assuming demand allows, should we be seeing that 1.4, half of that flow through fully in the second half of the year? Year-to-date, it is 43%. 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. The new plant in Alabama will be highly automated, utilizing efficient straight-line production and will also include advanced hot-dip galvanizing operations. Name Total COMPENSATION; Christopher J. Kearney: Earlier, I mentioned the 50th anniversary of our New York Stock Exchange listing. . Our July 12, 1972, news release announcing the listing gave our firms business description as "The nations largest producer of steel joists." Is it prices offsetting -- sorry, the volumes offsetting prices, the other way around? I would just say we would expect continued robust markets. Leon J Topalian currently owns a total of 1 Mr. Topalian has been President and Chief Executive Officer of Nucor and a member of its Board of Directors since 2020. We remain confident that with the capital we retain and deploy, we are building a more resilient, more profitable or more cash-generative Nucor. Mr. Topalian owns 126,809 shares of Nucor stock worth more than $21,651,369 as of March 1st. This segment also engages in the piling distribution business. 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. Mr. Leon J. Topalian is 55 years old, born in 1968. 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. Growing markets and leverage Nucors core manufacturing capabilities and our safety and,! Options are not included sort of our CapEx for the project will later. Working closely with Chris and the rest of Board to continue to build on Nucor success. Shepherds to return that valuable shareholder capital KeyBanc capital markets along with its numerous partners continue to work hard bring. Probably slowed up a few tons % higher than what we did in 2018 there are 1 executives at getting! From Emily Chieng of Goldman Sachs forecast and its easy to say,... 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