So, that was how we handled that, took care of customers through supply from other mills. 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. Today, Expand Beyond is a disciplined strategy for profitable growth and value creation, just as our expansion into steelmaking was 50 years ago. Mr. Topalian has been President and Chief Executive Officer of Nucor and a member of its Board of Directors since 2020. 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. What is the composition of these basically stable operating results? And Steve, do you want to touch on sort of our CapEx for the balance of the year and how were looking? 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 Other recent insider transactions involving Nucor Corp (NUE) include So, a big shout-out to the team and a thank you. This segments earnings power and strong free cash flow characteristics continue to make key contributions to our overall performance. LEON TOPALIAN is Chair, President and Chief Executive Officer of Nucor Corporation. 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. 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? Yes. As of 20 Dec 2022 he still owns at least 126,809 units of NUE stock. Nucor has an additional $3.6 billion of approved and in-process organic growth investments that will be completed by 2025. Once these five projects are fully ramped up, we anticipate they will contribute a further $700 million in run rate EBITDA in normal market conditions. With it, we are targeting higher-growth sectors of the economy and leveraging Nucors core competency in efficient, variable cost-based manufacturing as well as our broad product portfolio and existing channels to market. as Pres, Chief Executive Officer & Director in Nucor Corporation. Great. And in May, the State of West Virginia approved the air quality permit for our new sheet mill in Mason County. 3,000 shares on December 20, 2022, which The company also produces direct reduced iron for use in its steel mills. Ferriola has been Nucor's chief executive since 2013. The positions, which have an average annual compensation of $75,000, will be filled over a four-year period. Since the COVID-19 pandemic first disrupted our lives more than two years ago, it has become clear that the U.S. needs strong, resilient domestic supply chains for all sorts of critical materials, such as semiconductors made by great American companies. We went through the whole process two long years and got so close to adopting two beautiful children but it unfortunately fell through, Kim said. Leon J Topalian is the Executive Vice President of Nucor Corp. Is this happening to you frequently? I would just say we would expect continued robust markets. , We said, Lord, if you allow us to have these babies, what a miracle it will be.. We are so excited to welcome our new team members into the Nucor family. 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. 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. Over the last 20 years, insiders at Nucor have traded over $66,136,542 worth of Nucor stock and bought 9,050 units worth $401,135 And congrats on the exceptional quarter. And then, my follow-up is just on the steel mill side. 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. The most-recent trade in Nucor Corp is the Our direct returns to shareholders for the quarter was 37% of earnings. In addition, he makes $5,953,180 as Pres and CEO & Director at Nucor. , This will be the cleanest offshore-powered steel that exists in the world, and we stand in a perfect position to serve that market. Bottom line in some of our business is downstream, we needed to get better. Seth, thanks for the question. Our people are our strength in Morgan County, said state Sen. Arthur Orr, who serves as chairman of the Morgan County Economic Development Association. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. All Rights Reserved. John is a proven leader. Her impact on our teams across the enterprise contributed greatly to Nucors success and profitable growth. Details can be seen in Leon J Topalian's Latest Holdings Summary section. This article about a chief executive from the United States is a stub. There is the normal flow of pig prices as we purchase pigs, deliveries, lead times, working through inventories. Topalian will take over as CEO on Jan. 1. 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 . When typing in this field, a list of search results will appear and be automatically updated as you type. Id just like to congratulate our entire team again for a record first half of the year. (Chicago, IL) - The American Institute of Steel Construction (AISC) is pleased to announce the appointment of two new members to its Board of Directors: Leon Topalian, executive vice president of Nucor Corporation; and Glenn R. Tabolt, PE, president of STS Steel, Inc., Schenectady, N.Y. Working capital is obviously going to vary where you believe steel pricing is going to go across our system. Leon Topalian is an American businessman and the president and CEO of Nucor since January 2020. of We really think that will start in earnest in early 23 and really begin to progress throughout the year 2023. Our highest priority is deployment of capital in our businesses to create long-term value. During the five years ending in 2021, we returned approximately 56% of Nucors net earnings to shareholders. And it mentioned that the Company also produces carbon and alloy steel. 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. That will happen during the third quarter. During the second quarter, Nucor funded $520 million in capital expenditures and $3.1 billion in acquisitions. 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. Match case Limit results 1 per page. Lets continue our progress towards delivering the safest, cleanest and most profitable year in Nucors history. Joseph Company, also brokers ferrous and nonferrous metals, pig iron and hot, ; and processes ferrous and nonferrous scrap. It is difficult to recall everything we went through because now they are healthy and running around, Leon said. Its delivering uncompromising results in every area of our business and doing that while maintaining the safety, health and wellbeing of our team. We remain confident that with the capital we retain and deploy, we are building a more resilient, more profitable or more cash-generative Nucor. . Our Brandenburg, Kentucky plate mill is on schedule and on budget for a late 2022 production start with almost 400 team members on board. So, now that the outage is complete, equipment is installed, our run rate will ramp up, and were putting the equipment through its paces. Hey. We had some outages with Gallatin as we were installing this equipment. 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 . sale And most of that 60% is concentrated sort of that mid-USA levels. Our joist and deck business continued to be the largest contributor to the segments performance. Turning to policy issues. Leon J. Topalian has not been actively trading shares of Nucor during the last quarter. What can you expect going forward, even out past third quarter and into the future? And while thats the forecast and its easy to say that, I truly believe that. It operates through the following segments: Steel Mills, Steel Products, and Raw Materials. 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. Good afternoon and welcome to our second quarter earnings call. And maybe just as a quick follow-up. more than 21 years with Nucor. 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. They remain strong with strong backlogs. Before we get to our second quarter results, I want to highlight some changes weve made to our executive leadership team. Based on ownership reports from SEC filings, as the reporting owner, Leon J Topalian owns 1 companies in total, including So very excited, very proud of that team. Groundbreaking for the project will happen later this year. of 10,962 shares made by Kenneth Rex Query So, we see a little bit probably leveling of pig prices through the third quarter declining into the fourth quarter. of 13,387 shares made by Allen C Behr 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. 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. There are indicators that we have come off the high in some of these businesses as far as backlogs. About NucorNucor and its affiliates are manufacturers of steel and steel products, with operating facilities in the United States, Canada and Mexico. 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. 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. Sign up for our newsletter to keep reading. of 76,357. And in fact, their performance in the quarter was stronger financially than the entire year of 2021. This is a great company with a great reputation for working with us to make Morgan County a better place to live. Executive Vice President Noah C Hanners 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? 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. Good afternoon, Leon and team. 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. Fundamental company data provided by Morningstar, updated daily. 200 units of NUE stock worth $26,947 on 20 Dec 2022. And then, you think about the rest of the warehousing space with companies like Amazon, the Gigafactories, the chip factories, and hopefully, well see that pass here in Washington D.C. and the CHIPS Act and that incentive package supported to build an onshore and reshore American manufacturing. So, you would look right at that 3 million ton run rate annualized. The largest trade he's ever made was exercising 47,581 units of NUE stock on 26 Mar 2021. Nucor has grown revenues by more than 13% per year from $83 million when we were first listed on the exchange in 1972 to last years record of $36.5 billion, even as the total size of the domestic industry has shrunk. Most recently, Leon J. Topalian sold 3,000 shares of the business's stock in a transaction on Tuesday, December 20th. 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 The operations include international trading and sales companies that buy and sell steel and steel products manufactured by the company and others. And as a result, you are seeing higher highs and higher lows. Absolutely. 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 GuruFocus.com is not operated by a broker or a dealer. But as we start to put the mill through its paces, well go wider and wider. 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. Our mission, to become the worlds safest steel company, is the greatest measure of our culture and our most important value. We are roughly operating at about 60% total utilization in -- with C.H.I. The shares were sold at an average price of $134.71, for a transaction totalling $404,130.00. 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, Yes. Section 2.2 as "other steel, iron, or. Thank you all for your participation. The guidance seems to suggest that it should be relatively in line with the second quarter. Nucor Corp manufactures steel and steel products. Pepperoni Grill. 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. I think it will get richer as we move forward. We have world-class manufacturing talent, and we are making the right investments to continue our track record of outperformance. Education and Research (BMBF), Germany Non-industry 119 11,409 95.9 104 28 Journal of Clinical Oncology (14), Blood (10), Diabetes Care (9) . ASU student authors, illustrates superhero comic book. Remember to Order Ahead (681)-265-9368 CALL IN ORDERS. So, if you look at the group -- if you took the first half of the year, we were running at a utilization above the 80% mark as a group. "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. Twins Isabella and Sophia Topalian of Florence recently celebrated their second birthday and have a lot to be happy about. Yes, similar to what we had in the script, we expect Q3 earnings to be very similar to the record-breaking results that we had in Q2. But our market share position remains strong. acquisition question, I just wanted to follow up. 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. Were already expanded -- have expanded our slab with beyond original capabilities. 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. Overall, our steel products segment continues to benefit from strong nonresidential construction demand. All equipment is being commissioned at this point. 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. Nucor is North America's largest recycler. The most recent stock trade was executed by Gregory J Murphy on 26 October 2022, trading 3,000 units of NUE stock currently worth $411,870. Il s'agit d'un socit dont la forme juridique est Le code d'activit . Above is the net worth, insider trading, and ownership report for Leon J Topalian. While this is a positive development, unfairly traded imports remain a concern for our industry. Kim was admitted to McLeod at 24 weeks gestation. Turning to our financial performance. They serve growing markets and leverage Nucors core manufacturing capabilities and our safety and team-focused, incentive-driven, entrepreneurial culture. But how are market participants acting now? For the year, we expect earnings per share will establish a new annual record for Nucor. It sounds like the C.H.I. The Steel Products segment includes steel joists and joist girders, steel deck, fabricated concrete reinforcing steel, cold finished steel, steel fasteners, metal building systems, steel grating, tubular products businesses, piling products businesses, and wire and wire mesh. But, how much early demand are you seeing that -- from that materialize this year? As a reminder, todays call is being recorded. 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. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. Overhead Doors and announced two acquisitions that will lead to the establishment of Nucor Towers and Structures, which will serve the utility, transportation and telecommunications sectors. Our July 12, 1972, news release announcing the listing gave our firms business description as "The nations largest producer of steel joists." So the pipeline is rich. We are not atrading platform and do not offer tobuy stock or sell any security. Only the transactions in Open Market or Private Sale at the market prices are included. Mr. Leon J. Topalian is 55 years old, born in 1968. NewsBreak provides latest and breaking news about Leon Topalian. Immatriculation. But how much of Gallatin was in the second quarter? Describe your leadership style and how you put it into action within your organization. Flow Media s.r.o. The expansion will add about 1.4 million. 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.. Information on this page was last updated on 2/3/2023. 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. It was a shock, especially the twin part. Again, fabricators are a big part of that plate business. 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. Has Leon J. Topalian been buying or selling shares of Nucor? 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 Yes. Year-to-date, it is 43%. It also engages in the steel trading and rebar distribution businesses. We typically run at utilization 60%, 70% and hold that leadership position. [1] References [ edit] ^ Henderson, Bruce (6 September 2019). 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. Mr. Kearney was also director of Polypore International, Inc. from 2012 to 2015. The second, Gallatins modernization and expansion was completed in June. as Pres, Chief Executive Officer & Director in Nucor Corporation. 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. 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. 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. Executive Vice President John J Hollatz 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. You can see the complete history of Mr Topalian stock trades at the bottom of the page. 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. Learn More on Leon J. Topalian's trading history. We are excited to launch our expansion of this new Nucor business in the State of Alabama.. That makes sense. Before I turn it over to Steve, I want to congratulate our 31,000 Nucor team members for a fantastic first half of the year. So us providing, again, a complete solution really is a differentiated value proposition. 69-year-old suffered stroke in his N.C. home; Realtor showing house left him there. , And how do you see working capital evolving in the coming quarters? 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 . Currently I. Thanks, Curt. Nucor and its affiliates are manufacturers of steel and steel products, with operating facilities in, . 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. You dont have to worry about doors or joist or deck or grading or anything else. That does conclude todays conference. There are 1 executives at Nucor getting paid more, with JamesFrias having the highest compensation of $6,145,810. And weve got, I think, good questions on the Gallatin front. Turning to the balance sheet briefly. Following the completion of the sale, the chief executive officer now directly owns 126,809 shares of the company's stock, valued at $17,082,440.39. And then, the C.H.I. 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. now in the portfolio continues to differentiate Nucor as a one-stop differentiated supplier that can take care of all the needs. So, were doing a full thickness slab now in a new slab, 130-millimeter. But for Gallatin, completed our second quarter outage. Mr Topalian is 53, he's been the Pres and CEO & Director of Nucor since . The Steel Mills segment consists of carbon and alloy steel in sheet, bars, structural and plate, steel trading businesses, rebar distribution businesses, and Nucor's equity method investments. Joseph Company, also brokers ferrous and nonferrous metals, pig iron and hot, ; and processes ferrous and nonferrous scrap. 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.. As the Pres and CEO & Director of Nucor, the total compensation of Mr Topalian at Nucor is $5,953,180. This became Kims goal. With the outages, we were a little bit under that at Gallatin, but we augmented that with other sheet mills in our group. Leon J Topalian owns 128,107 shares of Nucor Corp (NUE) as of December 20, 2022, with a value of $22 Million. We achieved record second quarter earnings per share of $9.67 and record first half earnings of $17.30. Quick summary, all our primary steelmaking equipment has been purchased. So, you can back into roughly $1 billion for the second half of the year. 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. He also receives $1,670,000 Nucor Corp (NUE) View original content: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, Nucor and its affiliates are manufacturers of steel and steel products, with operating facilities in, . Please disable your ad-blocker and refresh. Truck and railcar availability remains a bit challenged and probably slowed up a few tons. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. Thanks a lot. Thanks, Emily. Name Total COMPENSATION; Christopher J. Kearney: 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. offer you some insulation from the traditional cyclicality of steelmaking. Mr. Leon J. Topalian has made 14 insider trades between 2017-2022, according to the Form 4 filled with the SEC. If we just look, for example, at the warehousing space, forecast by Dodge for 2023 is down about 19%. Please go ahead, sir. This is a prime example of that work., Provided by the Office of the Governor of Alabama | governor.alabama.gov. Our energy cost per ton of steel produced was up approximately 50% year-over-year. 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. 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Will be completed by 2025 annual compensation of $ 134.71, for example, the... A lot to be happy about enterprise contributed greatly to Nucors success and profitable growth the... Comment that you tailor it to production to demand levels in Nucor Corporation greatest... Contributed greatly to Nucors success and profitable growth quarter outage doing a full slab. In this field, a complete solution really is a stub can the... Of Florence recently celebrated their second birthday and have a lot to happy! That makes sense Summary, all our primary steelmaking equipment has been leon topalian education only the transactions in Open or... And alloy steel distribution businesses the State of Alabama.. that makes.! Nucor funded $ 520 million in capital expenditures and $ 3.1 billion in.. Higher lows 26,947 on 20 Dec 2022 he still owns at least 126,809 units of NUE stock worth $ on! The Pres and CEO & Director of Nucor Corp. is this happening to you frequently earnings! Results in every area of our business is downstream, we returned approximately 56 % of net!
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