As Leon mentioned, first quarter of 2022 earnings of $7.67 per share establishes a new first quarter record, more than doubling the prior record of $3.10 set last year in the first quarter. 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. Leon Topalian is CEO of Nucor Corp. Operator, were now ready to take questions. 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. 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. Insiders are limited to only officers and/or directors of the company. Thanks for the questions, Seth. Our metal margins decreased by about 5% from the first quarters $941 per ton to a still robust $895 per ton. Subscribe to our Daily Headlines newsletter. Our utilization in Q2 was improved from Q1. And then secondly, from the raw materials side, I think your guidance includes higher DRI price realizations in Q3. At that time, we just operated one steel mill, which was Nucor Steel Darlington. , First question is just with respect to the plate and structural markets. I would just say we would expect continued robust markets. sale 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, Nucor's insider roster includes Allen Behr (EVP), Craig Feldman (EVP), James Frias (CFO), Douglas Jellison (EVP), Michael Keller (Insider), Raymond Napolitan, Jr. (EVP), Daniel Needham (EVP), Kenneth Query (EVP), MaryEmily Slate (EVP), David Sumoski (COO), Leon Topalian (CEO), and D. Utermark (EVP). There are 1 executives at Nucor getting paid more, with James Frias having the highest compensation of $6,145,810. As we announced in May, MaryEmily Slate retired on June 11th. While this is a positive development, unfairly traded imports remain a concern for our industry. But again, the consumptive side, really, really strong. While joist and deck shipments were down from the first quarter, higher prices more than offset the decline in volumes. Nucor said several factors are driving increased demand for utility infrastructure, including grid hardening, renewable energy projects, building a nationwide network of EV chargers, natural disasters and replacements and population growth. We are also thankful for the approximately $125 million investment and the 200 jobs created with a compensation of around $75,000, added Bowling. . Get up-to-the-minute news sent straight to your device. The total. 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. At this time, there are no further questions. Mr. Topalian has been President and Chief Executive Officer of Nucor and a member of its Board of Directors since 2020. side will be mostly organic growth from here. Most recently he sold Our ramp-up also in what we produce will be determined also by whats going on in the marketplace. sale The largest trade he's The "King Of Quants" sees 10X potential Eric Fry believes he just discovered America's next "Wealth Supercluster" and it's forming in the place you'd least expect. I will turn the call back over to Leon for any additional or closing comments. Look, I think so. Education and Research (BMBF), Germany Non-industry 119 11,409 95.9 104 28 Journal of Clinical Oncology (14), Blood (10), Diabetes Care (9) . Nucor is North America's largest recycler. acquisition question, I just wanted to follow up. Thank you. MaryEmily is a dedicated and exceptional leader, and we thank her for her more than 21 years with Nucor. This segment sells its ferrous scrap to electric arc furnace steel mills and foundries for manufacturing process; and nonferrous scrap metal to aluminum can producers, secondary aluminum smelters, steel mills and other processors, and consumers of various nonferrous metals. Absolutely. Nucor and its affiliates are manufacturers of steel and steel products, with operating facilities in the United States, Canada and Mexico. The road to this prestigious accomplishment began with a two-year fellowship at the NIH National Cancer Institute in Bethesda, MD . Executive Vice President John J Hollatz He has earned $13,035,624 And so, Ill give you that same outlook from what we said today. Although Nucor believes they are based on reasonable assumptions, there can be no assurance that future events will not affect their accuracy. We continue to want to be great stewards and great shepherds to return that valuable shareholder capital. It was around this time that Kim discovered she was pregnant. The ITC is conducting several more five-year sunset reviews this year off key trade orders on flat-rolled products. On average, Nucor executives and independent directors trade stock every 51 days with the average trade being worth of $2,903,263. And Steve, do you want to touch on sort of our CapEx for the balance of the year and how were looking? Salary: $1,000,000: Bonus: $0: Value of Stock Awards: $3,939,943: Value of Option Awards: $1,750,000: Non-Equity Incentive Plan Compensation: $4,000,000: Change in . Our July 12, 1972, news release announcing the listing gave our firms business description as "The nations largest producer of steel joists." Please subscribe to keep reading. Our utilization remains right where wed expect it. Yes, Timna. My No. On this Wikipedia the language links are at the top of the page across from the article title. I became great friends with the girls on the fourth floor; they are phenomenal, Kim said, especially as the days got harder toward the end.. And as you may recall, original stated capacity for that mill, about 1.6 million tons. 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. So us providing, again, a complete solution really is a differentiated value proposition. Okay, Carlos. Other key executives at Nucor Corp include Its in supply chain and some of those constraints. Mr. Leon J. Topalian has made 14 insider trades between 2017-2022, according to the Form 4 filled with the SEC. You can help Wikipedia by expanding it. of 76,357. Mr. Topalian has been President and Chief Executive Officer of Nucor and a member of its Board of Directors since 2020. Leon J. Topalian is President, Chief Executive Officer & Director at Nucor Corp. He previously served as President and Chief Operating Officer of Nucor beginning in September 2019. I look forward to working closely with Chris and the rest of Board to continue to build on Nucor's success.". 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. And what we saw President Biden recently announced an executive orders yesterday, that will continue to position Nucor well, will position Nucors plate group and particularly Brandenburg, and an incredible value-add opportunity for our customers. Also during the second quarter, we completed our purchase of C.H.I. The estimated net worth of Leon J Topalian is at least $22 Million dollars as of 2023-02-02. Thanks, Leon. Yes. Mr. Kearney was also director of Polypore International, Inc. from 2012 to 2015. The Nucor team wishes the very best for you, MaryEmily and your family, and you will always be a tremendously valued member of the Nucor family. [Operator Instructions] Well now hear from Timna Tanners of Wolfe Research. Specifically to your question on structural and plate, Ill let Al Behr, our EVP of Plate and Structural, touch on it. So, well be right at the 3 million-ton mark and capable of producing at nameplate capacity during the fourth quarter. They remain a bit cautious with their buys. Our Brandenburg, Kentucky plate mill is on schedule and on budget for a late 2022 production start with almost 400 team members on board. About NucorNucor and its affiliates are manufacturers of steel and steel products, with operating facilities in the United States, Canada and Mexico. Nucor is, https://www.prnewswire.com/news-releases/nucor-announces-leon-j-topalian-as-chair-of-the-board-of-directors-names-christopher-j-kearney-lead-independent-director-301625534.html, UPDATE 1-London Stock Exchange Group posts steady 2022 earnings, eyes buyback on Blackstone/TR stake, S.Africa's MultiChoice and Comcast to create Africa-wide streaming service, UPDATE 1-Metro Bank flags limited growth in 2023 net interest margin, Metro Bank flags limited growth in 2023 net interest margin, London Stock Exchange Group posts steady 2022 earnings, eyes buyback on Blackstone/TR stake. The company was founded by Ransom E. Olds in 1905 and is headquartered in Charlotte, NC. And were really pleased with what that has brought to the market in terms of a rationality of pricing and much less volatility in the pricing and -- but supply and demand still governs the price of that, and we publish a price, but the market determines what it really is. Yet only 1 percent of them are monoamniotic twins, like Isabella and Sophia. 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, Curt. DRI benefited from elevated metallics pricing that we use to determine transaction values between segments. It was a very different experience from when we had Jonathan and Hannah, our older children.. This is a prime example of that work., Provided by the Office of the Governor of Alabama | governor.alabama.gov. Over his 23-year Nucor career, he has served in our Joist and Deck, Building Systems and Flat-rolled businesses. We had some outages with Gallatin as we were installing this equipment. Were seeing some -- again, the word resiliency is the right word across the nonres construction businesses and you know well now in Nucor that 50% of our overall mix is into the construction sector. The further out towards the coast you get, the market share has dropped off a little bit. Leon J Topalian is Mr. Topalian has been President and Chief Executive Officer of Nucor and a member of its Board of Directors since 2020. Our energy cost per ton of steel produced was up approximately 50% year-over-year. Investors are already flocking there for a chance at 1,000%+ returns. This segment also engages in the piling distribution business. 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. Were you ultimately forced to lock in some high-priced deliveries that might be arriving even though spot has declined sharply? No stops in production. Isabella and Sophia were delivered at McLeod Regional Medical Center on March 25, 2009, by Dr. Kelly Rainwater with assistance from Bridges. Good afternoon, Leon and team. from insider trading and has received compensation worth at least sale But how are market participants acting now? And were excited about the rest of this year and were excited, frankly, about 2023. And finally, thank you to our shareholders for the trusted capital that you place in our hands. Kurt, thank you. Yes. 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. Our team has done a wonderful job there navigating the challenges that that project has faced over a couple of years, and we sit ready for a start-up by the end of the year. Thank you. The guidance seems to suggest that it should be relatively in line with the second quarter. of That -- the new equipment, were capable of 73.5 inches. Isabella was also put on a ventilator to help her breathing and she received artificial surfactant to her premature lungs in an effort to help them function better. 4 insider transaction in Nucor Corp (NUE) with a net Good afternoon and welcome to our second quarter earnings call. The girls were sent home on apnea monitors to alert the family if they stopped breathing. Hey Chad, one thing Ill add and just maybe a further point, Carlos, to share some of this. 69-year-old suffered stroke in his N.C. home; Realtor showing house left him there. Learn More on Leon J. Topalian's trading history. Our joist and deck business continued to be the largest contributor to the segments performance. Every one of those buildings has somewhere between 4 and 12 to 15 doors on every building. Weve made progress, and Im proud of where the team is at and where were headed. brought And its something that weve talked about many times and shared with you and other analysts that through the cycle, we have seen incredible performance in that sector with Nucor-Yamato, Nucor-Berkeley beams reporting incredible returns and profitability out of those mills even with some, at the time, depressed utilization rates in the high-60s, low-70s. The most active insiders traders include Gregory Hayes, Joseph D Rupp, and Patrick Dempsey. 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 Mr Topalian owns over 3,000 units of Nucor stock worth over $20,706,642 and over the last 6 years he sold NUE stock worth over $9,685,670. But its certainly not without looking as well as some of the headwinds that are coming from an economy standpoint in the marketplace of interest rates and inflation. We hope this strike an arc, as a matter of fact, on the hot side even yet in the next literally day or two. Nucor is, Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American, Nucor Provides One-Year Update on New West Virginia Sheet Mill, Nucor to Build New Transmission Tower Production Plant in Alabama. Contributions from tubular products and metal buildings were aided by both, higher volumes and higher pricing during the quarter. So, service centers is a big product segment. 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. And it mentioned that the Company also produces carbon and alloy steel. And you asked about 2023. We are roughly operating at about 60% total utilization in -- with C.H.I. On Day One upon becoming Nucor's CEO, I let our 30,000 teammates know. Learn More on Leon J. Topalian's contact information. And again, if we look at our most recent order books, sheets strong. I want to thank each and every member of the Nucor family for your focus and dedication in ensuring every team member is safe. 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. Turning to the balance sheet briefly. "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. Other transactions such as conversion of derivative security or exercise of options are not included. Select a Column Field to add to the results, Refer a Friend and Earn One Month of Free Membership. We look forward to rapidly scaling up their operations as we continue to broaden our portfolio of construction market solutions. This became Kims goal. Maybe just exploring a little bit more the outlook for the steel product business. Other recent insider transactions involving Nucor Corp (NUE) include And how do you see working capital evolving in the coming quarters? Marjorie Matthews died aged 90 on February 8 after a battle with cancer. $4 million awarded to support early childhood education. And maybe just as a quick follow-up. And in May, the State of West Virginia approved the air quality permit for our new sheet mill in Mason County. And youd asked about working capital. Click here to see the complete history of Leon J Topalians form 4 insider trades. sale 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 Were proud of them already. 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. It serves agriculture, automotive, construction, energy and transmission, oil and gas, heavy equipment, infrastructure, and transportation industries through its in-house sales force; and internal distribution and trading companies. 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. 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. And its a good question in terms of how that breaks out because there are segments within the products group that will continue to have record-setting pace in performance. Nucors tremendous growth in profitability and market value over the past five decades has been fueled by our decision back then to expand upstream into steelmaking. But that is an incredible construction solution piece. He appears on "Balance of Power." Watch or read the transcript below. Yes. Most recently he sold 3,000 units of NUE stock worth $404,130 on 20 December 2022. 2004-2023 GuruFocus.com, LLC. There are 17 older and 3 younger executives at Nucor. The operating business segments are: steel mills, steel products and raw materials, the steel mills segment derives maximum revenue. Energy, including renewables, has been a strong market. We want the transfer price to reflect the market price into the steel mills, so that will reflect in those segment reporting. The sentiment around that part of the market is perhaps, I would say more pessimistic than what the reality is. January 25 2023 - 09:00AM PR Newswire (US) CHARLOTTE, N.C., Jan. 25, 2023 /PRNewswire/ -- In conjunction with Nucor's (NYSE: NUE) fourth quarter earnings release, you are invited to listen to its. of 48,302 shares made by D. Chad Utermark With MaryEmilys retirement, Dan Needham has assumed the role of EVP of Commercial. He died Wednesday. There are indicators that we have come off the high in some of these businesses as far as backlogs. The shares were sold at an average price of $134.71, for a transaction totalling $404,130.00. Congress must get this important bipartisan priority across the finish line. 6:10 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. And perhaps what are the categories that are taking some of the early wins there? Through her own research and in talking with her physicians, Kim discovered that monoamniotic twins have a higher success rate if the mother can be hospitalized and monitored at 24 weeks development. In the -- soon coming on line of our plate mill in Brandenburg. 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. 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. During the last twelve months, insiders at the basic materials company sold shares 14 times. Strike.Market does not provide financial advice or recommendations. And in some of our businesses, our backlogs are still at record levels. But I want to remind you how strong those highs were. Nucor is North America's largest recycler. 200 units of NUE stock worth $26,947 on 20 Dec 2022. 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. Year-to-date, it is 43%. Thank you for your interest in Nucor. This chart shows Leon J Topalian's buying and selling at Nucor by year and by quarter. Yes. This situation places the babies at high risk for their umbilical cords to become entangled which could result in cord compression and possible fetal demise. So, with regard to Gallatin, if I look at your sheet tons, youre running -- run rate less than a year ago levels. Nucor has an additional $3.6 billion of approved and in-process organic growth investments that will be completed by 2025. 1 True or False: The 2022 edition construction to provide a construction. But most all of our downstream businesses have current backlog levels that are 30% to 50% higher than the average backlog we had in that 2015 to 2019 period to the pandemic. 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. 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. Leon J Topalian, Nucor Corp: Profile and Biography - Bloomberg Markets Bloomberg the Company & Its Products Bloomberg Connecting decision makers to a dynamic network of information,. 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 . During the past 18 months, 171,494 shares of Nucor Corp (NUE) were sold and 0 shares were bought by its insiders, resulting in a net Leon J Topalian made You might contact Leon J Topalian via mailing address: 1915 Rexford Road, Charlotte Nc 28211. In addition to that, were bringing on these new businesses in Expand Beyond. Immatriculation. Leon J Topalian currently owns a total of 1 Available to listen by 8:30pm ET / 5:30pm PT daily beginning September 30: https://www.cnbc.com/2020/09/29/the-news-with-shepard-smith-podcast.html?__source=youtube%7Cshepsmith%7CpodcastConnect with CNBC News OnlineGet the latest news: http://www.cnbc.com/Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBCFollow CNBC News on Facebook: https://cnb.cx/LikeCNBCFollow CNBC News on Twitter: https://cnb.cx/FollowCNBCFollow CNBC News on Instagram: https://cnb.cx/InstagramCNBChttps://www.cnbc.com/select/best-credit-cards/#CNBC#CNBCTV of 57,932 shares. Has Leon J. Topalian been buying or selling shares of Nucor? We are very excited to be building this new tower production plant in Alabama, where Nucor has a long history and presence throughout the state, said Leon Topalian, Chair, President and CEO of Nucor Corp. As Americas most diverse industrial manufacturer of steel products, we will be able to efficiently supply this new plant, helping to ensure that our nations critical energy and digital infrastructure is built with the cleanest, most sustainable steel in the world.. 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. I know you said that you were looking to shore up maybe more overhead garage stores to kind of get more critical mass like you did with the tubulars -- structural tubing in the past. You probably know better than we do. Again, fabricators are a big part of that plate business. And next, well hear from Seth Rosenfeld of BNP Paribas. As the Pres and CEO & Director of Nucor, the total compensation of Mr Topalian at Nucor is $5,953,180. He served as Executive Vice President of Beam and Plate Products from 2017 to 2019. These state-of-the-art features will increase Nucor Towers & Structures capabilities to provide engineered solutions for utility infrastructure and construction projects. Thanks. This net worth estimate does not reflect any other investments that Mr. Topalian may own. Turning to our financial performance. In addition, he makes $5,953,180 as Pres and CEO & Director at Nucor. "I want to thank John for his numerous contributions to Nucor. It has an affiliated registered investment adviser, which serves as the subadviser to an exchange traded fund. And were not done. 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. Im going -- sorry, Curt, was talking about West Virginia, which Ill hold that for a moment and share that here perhaps a little later to the question or a follow-up. Hey. Great. And Q2, we saw much of the same. "I want to thank John for his numerous contributions to Nucor. But why dont you just touch on that a little bit and share where were at with Brandenburg as well. Yes. In our steel mills segment, shipping volumes were up by 10%. Section 2.2 as "other steel, iron, or. CHARLOTTE, N.C., Sept. 15, 2022 /PRNewswire/ -- Nucor Corporation (NYSE: NUE) announced today that its President and Chief Executive Officer, Leon J. Topalian, has assumed the additional role of Chair of the Board of Directors and that Board member, Christopher J. Kearney, has been appointed Lead Director of the Board, both effective today. If we just look, for example, at the warehousing space, forecast by Dodge for 2023 is down about 19%. Information on this page was last updated on 2/3/2023. 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. Sure, Leon. acquisition, look, in our minds, we acquired the very best company out there in that space, period, bar none. And look, I would tell you that right now, theres a lot of dialogue going on. There is the normal flow of pig prices as we purchase pigs, deliveries, lead times, working through inventories. The largest trade he's ever made was selling 48,768 units of Nucor stock on 17 June 2022 worth over $5,491,764. $37,370,000 in Nucor Corporation 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. Our highest priority is deployment of capital in our businesses to create long-term value. And well be ramping up here third quarter. So, that was how we handled that, took care of customers through supply from other mills. We came through so much, but they are here because of answered prayers.. 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. Also, increased federal government support for electric infrastructure and clean energy projects will drive additional demand. The new plant in Alabama will be highly automated, utilizing efficient straight-line production and will also include advanced hot-dip galvanizing operations. 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 . Joseph Company, also brokers ferrous and nonferrous metals, pig iron and hot, ; and processes ferrous and nonferrous scrap. Nucor Corp manufactures steel and steel products. I want to thank our 31,000 teammates for these fantastic results. You can see the complete history of Mr Topalian stock trades at the bottom of the page. And Ill let you take a best guess at that. Officials in Morgan County welcome Nucors growth plans in the North Alabama community. Nucor Corporation. It is a true vote of confidence in our community when an existing business decides to further expand its operations here. 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.

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