team and welcoming them to the Nucor family and what theyre doing in that business segment. MaryEmily is a dedicated and exceptional leader, and we thank her for her more than 21 years with Nucor. But why dont you just touch on that a little bit and share where were at with Brandenburg as well. Year-to-date, it is 43%. Remember to Order Ahead (681)-265-9368 CALL IN ORDERS. Latest: Nucor to Add Melt Ship at Kingman Bar Mill 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. Overall, our steel products segment continues to benefit from strong nonresidential construction demand. So, we still see that nonres construction space that is the driver for these businesses, as Al mentioned earlier, to be very strong. Leon J. Topalian has not been actively trading shares of Nucor during the last quarter. This article about a chief executive from the United States is a stub. For the year, we expect earnings per share will establish a new annual record for Nucor. Please. Mr. Kearney was also director of Polypore International, Inc. from 2012 to 2015. What can you expect going forward, even out past third quarter and into the future? 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. Our ramp-up also in what we produce will be determined also by whats going on in the marketplace. After spending three weeks in the NICU, the girls were eating and breathing well on their own. We wanted two more children and the fact that God gave us two at one time was a real blessing.. Nonresidential construction has been one of our most resilient markets across the enterprise, and we would expect that continues in 2023. Learn More about Leon J. Topalian's net worth. And heres why. Operating profits were stronger than we anticipated for all three segments. Leon J. Topalian is the Pres, CEO & Director at Nucor. brought The nurses already knew who we were, Leon said. 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. So, with regard to Gallatin, if I look at your sheet tons, youre running -- run rate less than a year ago levels. There is the normal flow of pig prices as we purchase pigs, deliveries, lead times, working through inventories. So just wondering if you could talk to kind of what youre seeing in those markets and maybe long products more broadly and then how you think about plate volumes into 23 with respect to ramping Brandenburg. The guidance seems to suggest that it should be relatively in line with the second quarter. However, for some context, energy costs still represent approximately 6% of our overall cost per ton. In our steel mills segment, shipping volumes were up by 10%. Fri, Dec 9 20227:06 PM EST. What I would say is you should expect higher highs and higher lows. 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. Topalian takes over the role from John Brett, CEO of ArcelorMittal North America, who has chaired AISI since March 2020. The ITC is conducting several more five-year sunset reviews this year off key trade orders on flat-rolled products. Great. 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. Is this happening to you frequently? So pretty excited about it. Thank you for your interest in Nucor. And weve got, I think, good questions on the Gallatin front. Timna, where we see, maybe a little more color. 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. "Nucor CEO to retire, and his successor comes from inside the steel company", https://en.wikipedia.org/w/index.php?title=Leon_Topalian&oldid=1055515771, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 16 November 2021, at 09:04. We look forward to working with them to make sure this venture is successful, said Long. And Al, I wont steal all your thunder, but we couldnt be more excited about the shift and whats moving in plate. But yes, we are seeing, again, stable demand and growing in some cases. Next, well hear from Carlos De Alba of Morgan Stanley. Cramer spoke with Nucor CEO Leon Topalian on Friday. Just trying to square that with the volumes being lower year-over-year. 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 Mike, thank you for the question. 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. acquisition, look, in our minds, we acquired the very best company out there in that space, period, bar none. 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. . Nucor Corp manufactures steel and steel products. Id just like to congratulate our entire team again for a record first half of the year. Transaction Summary of Leon J Topalian John J. Ferriola retired at the end of 2019, and was succeeded by longtime Nucor executive Topalian as CEO and president from January 2020. 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. So, you can back into roughly $1 billion for the second half of the year. The forward-looking statements made in this conference call speak only as of this date, and Nucor does not assume any obligation to update them, either as a result of new information, future events or otherwise. This segments earnings power and strong free cash flow characteristics continue to make key contributions to our overall performance. Maybe just exploring a little bit more the outlook for the steel product business. We are also thankful for the approximately $125 million investment and the 200 jobs created with a compensation of around $75,000, added Bowling. acquisition question, I just wanted to follow up. What weve seen today would be very little through the cycle of the overall volume, but Ill let Rex touch more on that. And how do you see working capital evolving in the coming quarters? 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. Mr. Topalian owns 126,809 shares of Nucor stock worth more than $21,651,369 as of March 1st. Our Brandenburg, Kentucky plate mill is on schedule and on budget for a late 2022 production start with almost 400 team members on board. But I want to remind you how strong those highs were. Explore the city's history and join us for an exclusive event at the Smithsonian's National Museum of African American History and Culture. On average, Mr trades about 6,725 units every 79 days since 2017. more than 21 years with Nucor. From market futures to live price updates CNBC is the leader in business news worldwide. 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. Ill speak first -- well speak about the first half of the year. 1) Design-oriented outcome: Design management involves design and management activities related to the quality of design outcomes, design delivery and/or design 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. And its held quite strong. Most recently he sold When typing in this field, a list of search results will appear and be automatically updated as you type. 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. Lets continue our progress towards delivering the safest, cleanest and most profitable year in Nucors history. Leon J Topalian owns 128,107 shares of Nucor Corp (NUE) as of December 20, 2022, with a value of $22 Million. So thanks for the question. And as a result of that, we see a stable input cost to DRI with a still elevated pig price or transfer price into the third quarter and then dropping pretty significantly into the fourth quarter. And in fact, their performance in the quarter was stronger financially than the entire year of 2021. Topalian will take over as CEO on Jan. 1. Nucor facilities in Alabama produce steel, tubular products, joists and decking and metal buildings, with locations in Birmingham, Tuscaloosa, Fort Payne, Eufaula and Decatur. 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. 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%. stock. During the second quarter, Nucor funded $520 million in capital expenditures and $3.1 billion in acquisitions. of 48,302 shares made by D. Chad Utermark At that time, we just operated one steel mill, which was Nucor Steel Darlington. So, a big shout-out to the team and a thank you. It is a true vote of confidence in our community when an existing business decides to further expand its operations here. For opening remarks and introductions, I would like to turn the call over to Leon Topalian, President and Chief Executive Officer of Nucor Corporation. The expansion will add about 1.4 million. As far as the DRI, we adjust our DRI transfer price monthly. Now, there may be some things that were looking at that I cant get into that would be very, very small that might be complementary, but we -- our eggs are in the C.H.I. Now, the other piece of that, when we look at Nucor buildings group, the Nucor buildings group does roughly about 10,000 buildings annually, just our Nucor buildings group. There are 1 executives at Nucor getting paid more, with JamesFrias having the highest compensation of $6,145,810. 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,. 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. By fourth quarter, we expect to be at nameplate capacity. Twins Isabella and Sophia Topalian of Florence recently celebrated their second birthday and have a lot to be happy about. And for every downturn, Nucor has gotten stronger and continue to invest that our cash flow position, the profits were generating today put Nucor in an ideal position to continue to be very deliberate and very strategic with long-term goals to enhance our shareholder value. 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. June 22, 2023, 2 p.m. CT: CEO Huddle with Karla R. Lewis, President and Chief Executive Officer, Reliance Steel & Aluminum Co. and Leon Topalian, Chairman, President and Chief Executive Officer, Nucor Corporation. Strike.Market does not provide financial advice or recommendations. Yes. Yes. 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. ASU student authors, illustrates superhero comic book. Energy, including renewables, has been a strong market. This record performance was driven by strength across our diversified portfolio of businesses. Weve awarded our significant portions of civil and concrete work. The most-recent trade in Nucor Corp is the Yes. But how much of Gallatin was in the second quarter? And most of that 60% is concentrated sort of that mid-USA levels. , That does conclude todays conference. "These changes reflect the thoughtful, planned transition of leadership at Nucor.". | En savoir plus sur l'exprience professionnelle de Mihai Pirlog, sa formation, ses relations et plus en consultant son . I want to mention that we support swift passage of legislation to address semiconductor manufacturing and beneficial updates to our trade laws through legislation known as Leveling the Playing Field Act 2.0. You probably know better than we do. Look, I think so. Information on this page was last updated on 2/3/2023. We typically run at utilization 60%, 70% and hold that leadership position. We appreciate the support we have received from the state and local officials in Alabama, including Governor Kay Ivey, Alabama Department of Commerce, State of Alabama State Industrial Development Authority, Morgan County Economic Development Association, Morgan County Economic Development Cooperative District, Morgan County, Decatur Industrial Development Board, City of Decatur, Decatur-Morgan County Chamber of Commerce, Hartselle Chamber of Commerce, and the Tennessee Valley Authority, said Laurent De Mey, General Manager of Nucor Towers & Structures. and and Nucor Corporation. We have a lot of room to grow. Yes. [Operator Instructions] And well first hear from Curt Woodworth of Credit Suisse. Thanks for the questions, Seth. Today, Expand Beyond is a disciplined strategy for profitable growth and value creation, just as our expansion into steelmaking was 50 years ago. You noticed somewhat soft utilization rates for those verticals this year, yet pricing is holding up extremely well and basically close to record metal spread today. and Topalian attributes. The election and announcement took place at AISI's board of directors meeting held at AISI headquarters, as well as virtually. 3,000 shares on December 20, 2022, which 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 . 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. sale As a reminder, todays call is being recorded. Both infants were placed on a continuous positive airway pressure machine at birth to provide oxygen. Regarding the C.H.I. Based on ownership reports from SEC filings, as the reporting owner, Leon J Topalian owns 1 companies in total, including What is the composition of these basically stable operating results? I mentioned infrastructure starting to produce better strength. He died Wednesday. Please disable your ad-blocker and refresh. 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 And again, well have the capability. 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. And how deep is your pipeline of potential targets right now? They remain strong with strong backlogs. 1 dividend stock for a LIFETIME of income. It is difficult to recall everything we went through because now they are healthy and running around, Leon said. Great. John H. Walker, a member of the Board since 2008 and most recently its Non-Executive Chairman, will continue to serve as a Board member. Formerly of Topalian's Newsagents, Grange . as Pres, Chief Executive Officer & Director in Nucor Corporation. 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 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. 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. And Id say thats just not chasing the cheap tons. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. The most active insiders traders include Gregory Hayes, Joseph D Rupp, and Patrick Dempsey. Mr. Kearney, who was unanimously chosen by the independent directors of Nucor's Board of Directors to serve as Lead Director, has been an integral member of the Board since he joined in 2008. 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 This is Steve. Chart Data in Insider Trading History Table. Leon J Topalian around $404,130. Thanks. Thank you for your hard work and dedication and commitment to delivering exceptional customer service. Good afternoon and welcome to our second quarter earnings call. But that is an incredible construction solution piece. With MaryEmilys retirement, Dan Needham has assumed the role of EVP of Commercial. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. Ive got two points on raw material strategy, please. 1 True or False: The 2022 edition construction to provide a construction. 4 insider transaction in Nucor Corp (NUE) with a net Were proud of them already. Any color would be helpful. And with the acquisition of Summit Utility Structures and Sovereign Steel Manufacturing, weve established Nucor Towers and Structures. 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. There are 1 executives at Nucor getting paid more, with James Frias having the highest compensation of $6,145,810. Describe your leadership style and how you put it into action within your organization. Youre asking about pig iron. 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. Turning to the outlook for the third quarter of 2022. 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. 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. Mr. Kearney, who was unanimously chosen by the independent directors of Nucor's Board of Directors to serve as Lead Director, has been an integral member of the Board since he joined in 2008. (renews at {{format_dollars}}{{start_price}}{{format_cents}}/month + tax). Then there was the realization that we were having preemies, Kim said. Stock quotes provided by InterActive Data. Click here to see the complete history of Leon J Topalians form 4 insider trades. I think it will get richer as we move forward. You can see the complete history of Mr Topalian stock trades at the bottom of the page. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. Education and Research (BMBF), Germany Non-industry 119 11,409 95.9 104 28 Journal of Clinical Oncology (14), Blood (10), Diabetes Care (9) . 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. One was to kind of probe what was discussed earlier on Gallatin a little bit more. During the five years ending in 2021, we returned approximately 56% of Nucors net earnings to shareholders. We hope this strike an arc, as a matter of fact, on the hot side even yet in the next literally day or two. Yes. He has earned $13,035,624 While we recognize there is considerable economic uncertainty right now, demand appears stable and resilient across our key end-use markets. This month, we are celebrating 50 years since Nucor was listed on the New York Stock Exchange. 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. The road to this prestigious accomplishment began with a two-year fellowship at the NIH National Cancer Institute in Bethesda, MD . Yes. So, well be right at the 3 million-ton mark and capable of producing at nameplate capacity during the fourth quarter. 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.. 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. 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. 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. This is a prime example of that work., Provided by the Office of the Governor of Alabama | governor.alabama.gov. Fundamental company data provided by Morningstar, updated daily. 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.. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. This segment sells its products to steel service centers, fabricators, and manufacturers in the United States, Canada, and Mexico. What is the salary of Mr Topalian? Having joined Nucor in 1996, Mr. Topalian also has served as General Manager at two of Nucor's facilities, in Arkansas and Illinois, as well as Melting and Casting Manager, an Operations Manager, a cold mill production supervisor and a project manager. Turning to policy issues. I want to thank each and every member of the Nucor family for your focus and dedication in ensuring every team member is safe. Over his 23-year Nucor career, he has served in our Joist and Deck, Building Systems and Flat-rolled businesses. Now, Steve Laxton will share additional details on our first half performance and our outlook as we move forward into the second half of the year. 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. Nucor Corporation executives and other stock owners filed with the SEC: Strike the best investing opportunities on the market! 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. I look forward to working closely with Chris and the rest of Board to continue to build on Nucor's success.". That makes sense. The corporate mailing address for Mr. Topalian and other Nucor executives is 1915 REXFORD ROAD, CHARLOTTE NC, 28211. Truck and railcar availability remains a bit challenged and probably slowed up a few tons. Nucor can also be reached via phone at (704) 366-7000 and via email at paul.donnelly@nucor.com. Hey. The company was founded by Ransom E. Olds in 1905 and is headquartered in Charlotte, NC. Thank you. 2004-2023 GuruFocus.com, LLC. So were beyond 68 inches now. Earlier, I mentioned the 50th anniversary of our New York Stock Exchange listing. I mentioned our reliance on pig is half of this year what it was last year. 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. Nucor Corporation was incorporated in 1958 and is based in Charlotte, North Carolina. So, our opportunity really isnt to move or look for other large garage door companies. This net worth estimate does not reflect any other investments that Mr. Topalian may own. As we announced in May, MaryEmily Slate retired on June 11th. Leon Topalian best website builder Nucor has introduced Elcyon, the company's new sustainable heavy gauge steel plate product made specifically to meet the growing demands of America's . 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. Aisi since March 2020 want to thank each and every member of the year States is a dedicated and leader. Overall, our opportunity really isnt to move or look for other large garage door companies 50 years Nucor... 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Chad Utermark at that time, we acquired the very best company out there that. Nucor Towers and Structures steel Manufacturing, weve established Nucor Towers and Structures deliveries. Is the leader in business news worldwide at ( 704 ) 366-7000 and email... Manufacturers in the second quarter make key contributions to our second quarter, returned... Excited about the first half of the Nucor family for your hard work and dedication and commitment to exceptional... Gave us two at one time was a real blessing of leon topalian education governor.alabama.gov... Excited about the shift and whats moving in plate continues in 2023 at Nucor paid! Retired on June 11th assumed the role from John Brett, CEO of ArcelorMittal North America, who chaired. The cheap tons NC, 28211 again for a record first half of this what. Of leadership at Nucor. ``, in our community When an business! There is the leader in business news worldwide going on in the half. 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