Thanks. We are the leading structural manufacturer in the United States. Offsetting some of the benefits of the stronger metal margins we have been realizing over the past several quarters are some cost pressures from higher electricity and natural gas pricing. Over the years, weve developed a strong partnership with Nucor, and I look forward to seeing our relationship expand with this new venture.. 4 insider transaction in Nucor Corp (NUE) with a net New biotech can 3D print living cells inside the human body, Ukraine will join NATO but in 'long- term', says NATO chief Stoltenberg, Finland begins building fence along Russia border. As part of this reorganization, Chad Utermark has been appointed to the newly created role of Executive Vice President of New Markets and Innovation. 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 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. Good afternoon, Leon and team. I would just say we would expect continued robust markets. But as Chad mentioned, and I think its an incredibly important part, our industry is shifted and it shifted substantially through reconciliations, through consolidation and through trade. Our people are our strength in Morgan County, said state Sen. Arthur Orr, who serves as chairman of the Morgan County Economic Development Association. Leon J Topalian owns 128,107 shares of Nucor Corp (NUE) as of December 20, 2022, with a value of $22 Million. Yes. In the face of these discouraging statistics, Kim turned to her friends, her family, and her faith for support. We came through so much, but they are here because of answered prayers.. 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). Nucor Corporation executives and other stock owners filed with the SEC: Strike the best investing opportunities on the market! sale So, we still see that nonres construction space that is the driver for these businesses, as Al mentioned earlier, to be very strong. Weve made progress, and Im proud of where the team is at and where were headed. Get notified the next time Leon J. Topalian buys or sells Nucor stock. "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. 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. We have world-class manufacturing talent, and we are making the right investments to continue our track record of outperformance. So us providing, again, a complete solution really is a differentiated value proposition. This will be the cleanest offshore-powered steel that exists in the world, and we stand in a perfect position to serve that market. Match case Limit results 1 per page. Learn More on Nucor's active insiders. Next, well hear from Carlos De Alba of Morgan Stanley. Nucor is working hard to ensure that they all remain in place. We will continue to work hard to earn that business well into the future. The Topalians were also told they could expect a 50 percent survival rate. MaryEmily is a dedicated and exceptional leader, and we thank her for her more than 21 years with Nucor. I look forward to working closely with Chris and the rest of Board to continue to build on Nucor's success.". Is it prices offsetting -- sorry, the volumes offsetting prices, the other way around? 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. 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. We also remain committed to our regular quarterly dividend, something Nucor has paid and grown consistently over the last half century. Nucor Corp (NUE) Enter the email address you signed up with and we'll email you a reset link. Absolutely. Cision Distribution 888-776-0942 But yes, we are seeing, again, stable demand and growing in some cases. Absolutely. And again, if we look at our most recent order books, sheets strong. Nucor Corporation was incorporated in 1958 and is based in Charlotte, North Carolina. You asked about capital for the remainder of the year. Chart Data in Insider Trading History Table. The most recent insider tranaction occured on February, 3rd when EVP Kenneth Rex Query sold 1,962 shares worth more than $349,216.38. Nucor, which already has a significant presence in Alabama, has committed to creating 200 full-time jobs at the facility in Decatur. We absolutely expect in the fourth quarter to run at really nameplate capacity. The election and announcement took place at AISI's board of directors meeting held at AISI headquarters, as well as virtually. the Chair, President and CEO of Nucor Corp and owns about 128,107 shares of Nucor Corp (NUE) stock worth over $22 Million. Ill speak first -- well speak about the first half of the year. 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. "These changes reflect the thoughtful, planned transition of leadership at Nucor.". 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. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. In this new role, Chad will focus on our continued growth into new markets and integrating new businesses into the core operations of Nucor. So, our utilization may have ticked down just slightly in the structural side. 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. Maybe just exploring a little bit more the outlook for the steel product business. Id just like to congratulate our entire team again for a record first half of the year. 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. 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. 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. 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. Were proud to call them Nucor team members, and the growth that theyre going to bring in the coming years is something incredibly exciting for us. Her impact on our teams across the enterprise contributed greatly to Nucors success and profitable growth. When the Topalians arrived for their tour of the Neonatal Intensive Care Unit (NICU), the entire staff had been debriefed on their situation. As of 20 Dec 2022 he still owns at least 126,809 units of NUE stock. John is a proven leader. 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. Mr. Kearney was also director of Polypore International, Inc. from 2012 to 2015. And then secondly, from the raw materials side, I think your guidance includes higher DRI price realizations in Q3. It has an affiliated registered investment adviser, which serves as the subadviser to an exchange traded fund. 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 If we could solve the chip shortage today, I think were going to crest well over 17 million units sold. , 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. And so, Ill give you that same outlook from what we said today. Reverso Context-: Twins Isabella and Sophia Topalian of Florence recently celebrated their second birthday and have a lot to be happy about. Leon J Topalian made Mr. Kearney founded Eagle Marsh Holdings, LLC in 2016 and has served as its managing partner since inception. Working capital is obviously going to vary where you believe steel pricing is going to go across our system. So, while our teams, our division businesses are ramping up and at the ready, I think were still about six months out from really seeing that move through our company. and today. You dont have to worry about doors or joist or deck or grading or anything else. This is a prime example of that work., Provided by the Office of the Governor of Alabama | governor.alabama.gov. In addition to that, were bringing on these new businesses in Expand Beyond. Strike.Market does not provide financial advice or recommendations. . We really think that will start in earnest in early 23 and really begin to progress throughout the year 2023. ever made was exercising 47,581 units of NUE stock Quick summary, all our primary steelmaking equipment has been purchased. About NucorNucor and its affiliates are manufacturers of steel and steel products, with operating facilities in the United States, Canada and Mexico. 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 . So I do want to state that, and well gauge that by the demand in the marketplace. And youd asked about working capital. Joseph Company, also brokers ferrous and nonferrous metals, pig iron and hot, ; and processes ferrous and nonferrous scrap. For the year, we expect earnings per share will establish a new annual record for Nucor. And Id say thats just not chasing the cheap tons. Nucor Corp. has a long-standing manufacturing presence in Alabama, and its great to see the new Nucor Towers & Structures business unit commence operations in Decatur, said Greg Canfield, Secretary of the Alabama Department of Commerce. 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. You might contact Leon J Topalian via mailing address: 1915 Rexford Road, Charlotte Nc 28211. I wanted to follow up on your M&A commentary. 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. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The company was founded by Ransom E. Olds in 1905 and is headquartered in Charlotte, NC. The oldest executive at Nucor Corp. is JosephRupp, 69, who is the Director. 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. Nucor is North America's largest recycler. Wrexham AFC fans out in force to bag pre-sale Kings of Leon tickets. All equipment is being commissioned at this point. The nurses already knew who we were, Leon said. Topalian SL, Hodi FS, Brahmer JR, Gettinger SN, Smith DC, McDermott DF, Powderly JD, Carvajal RD, Sosman JA, Atkins MB, Leming PD, Spigel DR, Antonia SJ, Horn L, Drake CG, Pardoll DM, Chen L, Sharfman . Above is the net worth, insider trading, and ownership report for Leon J Topalian. I look forward to working closely with Chris and the rest of Board to continue to build on Nucor's success.". Both Ray Long, chairman of the Morgan County Commission, and Decatur Mayor Tab Bowling said they are excited by the job opportunities being created by Nucors investment project. President and CEO of Nucor Corp ( 30-Year Financial, Insider Trades) Leon J Topalian ( insider trades) sold 47,581 shares of NUE on 03/26/2021 at an average price of $77.18 a share. Has Leon J. Topalian been buying or selling shares of Nucor? 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. Finally, todays headlines are full of concerns regarding inflation, interest rate hikes and whether well experience a recession. We typically run at utilization 60%, 70% and hold that leadership position. Thank you. This is a game-changing mill in the U.S. plate market that will firmly establish us as the market leader in plate. Also, last week, the U.S. International Trade Commission unanimously extended antidumping and countervailing duty orders for an additional five years on imports of corrosion-resistant steel from China, India, Italy, South Korea and Taiwan. $1,000 invested in Nucor when we were first listed would be worth over $1.6 million today. Mr. Leon J. Topalian is 55 years old, born in 1968. 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. Also, increased federal government support for electric infrastructure and clean energy projects will drive additional demand. We welcome John to the executive team. Please. We look forward to working with them to make sure this venture is successful, said Long. So were beyond 68 inches now. 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. 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. 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. Immatriculation. 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. 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. The company's Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling products; and bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products. I wanted to ask two questions. 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]. Her impact on our teams across the enterprise contributed greatly to Nucors success and profitable growth. Curt, thank you for the question. Our metal margins decreased by about 5% from the first quarters $941 per ton to a still robust $895 per ton. This Expand Beyond piece over the last 2.5 years driven really by Steve Laxton before he became CFO and Alex Hoffman is really about finding those companies that provide a differentiated value proposition and moving us sort of that one standard deviation outside of the normal and traditional steelmaking lane that have direct steel adjacency, but like C.H.I. So, service centers is a big product segment. 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. So, with regard to Gallatin, if I look at your sheet tons, youre running -- run rate less than a year ago levels. on 26 Mar 2021. 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. Regarding the C.H.I. Cornerstone and the insulated metal panel building business is doing that. Just trying to square that with the volumes being lower year-over-year. And maybe just as a quick follow-up. 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 The estimated net worth of Leon J. Topalian is at least $21.65 million as of December 20th, 2022. CELEBRATING 73 YEARS 1948-2021 The official publication of the San Francisco Region of the Sports Car Club Of America Fresno Solo p. 6 Regionals 1 & 2 p. 8 SFR Solo II p. 24 Drivers School p. 28 VOL. We are a one-stop shop and can solve the entity and entirety of their steel needs. Yes. What can you expect going forward, even out past third quarter and into the future? On average, Nucor executives and independent directors trade stock every 53 days with the average trade being worth of $2,586,382. It was a shock, especially the twin part. Nucor has an additional $3.6 billion of approved and in-process organic growth investments that will be completed by 2025. Congress must get this important bipartisan priority across the finish line. I think it will get richer as we move forward. Learn More about Leon J. Topalian's net worth. So, our opportunity really isnt to move or look for other large garage door companies. Is there any sort of renewed or early signs of renewed appetite to reengage here? Nucor is North America's largest recycler. Reshoring semiconductor production here in America gives us a tremendous opportunity to unleash a manufacturing renaissance in the United States. acquisition, look, in our minds, we acquired the very best company out there in that space, period, bar none. But that is an incredible construction solution piece. of Cramer interviewed Nucor CEO Leon Topalian on Thursday. You probably know better than we do. Your dedication and efforts are what drive the efficiency of our manufacturing businesses, which enable us to reliably meet the strong demand were seeing across our broad array of products. Topalian will take over as CEO on Jan. 1. Executive Vice President Engineered Bar Products and Fabricated Construction Products, Chief Financial Officer, Treasurer & Executive Vice President. So, you would look right at that 3 million ton run rate annualized. 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. You can help Wikipedia by expanding it. 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. 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