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 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. the Chair, President and CEO of Nucor Corp and owns about 128,107 shares of Nucor Corp (NUE) stock worth over $22 Million. $1,000 invested in Nucor when we were first listed would be worth over $1.6 million today. Also, increased federal government support for electric infrastructure and clean energy projects will drive additional demand. Nucor facilities in Alabama produce steel, tubular products, joists and decking and metal buildings, with locations in Birmingham, Tuscaloosa, Fort Payne, Eufaula and Decatur. offer you some insulation from the traditional cyclicality of steelmaking. 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. This segments earnings power and strong free cash flow characteristics continue to make key contributions to our overall performance. First question is just with respect to the plate and structural markets. 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. 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 of 13,387 shares made by Allen C Behr This became Kims goal. Learn More about insider trades at Nucor. As the Pres and CEO & Director of Nucor, the total compensation of Mr Topalian at Nucor is $5,953,180. 6:10 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. As we evaluate growth initiatives, either in our core business or by expanding beyond, we focused on driving incremental value by leveraging our capabilities and existing positions of strength as we have done for the last 5.5 decades throughout our history. Before we get to our second quarter results, I want to highlight some changes we've made to our executive. So, you can back into roughly $1 billion for the second half of the year. The largest trade he's ever made was exercising 47,581 units of NUE stock on 26 Mar 2021. What is the salary of Mr Topalian? Other key executives at Nucor Corp include 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. Is this happening to you frequently? Again, fabricators are a big part of that plate business. Rex, do you want to touch on the Gallatin question? We had some outages with Gallatin as we were installing this equipment. We are not atrading platform and do not offer tobuy stock or sell any security. 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. 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. My first question is just around the infrastructure package that should start to really accelerate in 2023. Mr. Topalian has been President and Chief Executive Officer of Nucor and a member of its Board of Directors since 2020. Nucor Corporation (NYSE:NUE) Q2 2022 Results Conference Call July 21, 2022 2:00 PM ET, Al Behr - EVP, Plate and Structural Products, Doug Jellison - EVP, Raw Materials and Logistics, Rex Query - EVP, Sheet and Tubular Products, Chad Utermark - EVP, New Markets and Innovation, Michael Leshock - KeyBanc Capital Markets. And were excited about the rest of this year and were excited, frankly, about 2023. So, you have an opportunity -- or we have an opportunity to really grow that business with what we have today. It also engages in the steel trading and rebar distribution businesses. You asked about capital for the remainder of the year. "I feel very privileged to take on this role at Nucor and thank the Board for its confidence in me," Topalian said. 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.. Oh, Im sorry. 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. Next, well hear from Carlos De Alba of Morgan Stanley. The operating business segments are: steel mills, steel products and raw materials, the steel mills segment derives maximum revenue. During the second quarter, Nucor funded $520 million in capital expenditures and $3.1 billion in acquisitions. Health. The corporate mailing address for Mr. Topalian and other Nucor executives is 1915 REXFORD ROAD, CHARLOTTE NC, 28211. According to the SEC Form 4 filings, Leon J Topalian has made a total of 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. Section 2.2 as "other steel, iron, or. Okay, Carlos. After spending three weeks in the NICU, the girls were eating and breathing well on their own. "I feel very privileged to take on this role at Nucor and thank the Board for its confidence in me," Topalian said. What does that mean for your cost of inventory today? We typically run at utilization 60%, 70% and hold that leadership position. 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. The largest trade he's ever made was selling 48,768 units of Nucor stock on 17 June 2022 worth over $5,491,764. , 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. And were not done. This month, we are celebrating 50 years since Nucor was listed on the New York Stock Exchange. They sold a total of 106,839 shares worth more than $14,127,779.65. And automotive is a good example. And Steve, do you want to touch on sort of our CapEx for the balance of the year and how were looking? I think it will get richer as we move forward. 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.. Her impact on our teams across the enterprise contributed greatly to Nucors success and profitable growth. So, well be right at the 3 million-ton mark and capable of producing at nameplate capacity during the fourth quarter. And weve got, I think, good questions on the Gallatin front. Its delivering uncompromising results in every area of our business and doing that while maintaining the safety, health and wellbeing of our team. Good day, everyone, and welcome to the Nucor Corporation Second Quarter of 2022 Earnings Call. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. Prior to that time, he held various leadership positions at Nucor,. North Kingstown, Rhode Island, United States Food Server Carrabba's Italian Grill Apr 2018 - Jan 20212 years 10 months Warwick, Rhode Island, United States Education Endicott College Bachelor's. I will turn the call back over to Leon for any additional or closing comments. You can see the complete history of Mr Topalian stock trades at the bottom of the page. If we just look, for example, at the warehousing space, forecast by Dodge for 2023 is down about 19%. But, were not seeing any real movement in terms of material orders. Most recently he sold 3,000 units of NUE stock worth $404,130 on 20 December 2022. 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? sale 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. And so, again, there are some things I think that will begin to loosen up and break loose in the back half of this year and well into 23 that will help in addition to the infrastructure, like getting a bit more caught off on the chips and as Al mentioned, the offshore wind. Absolutely. But, could you comment a little bit more where you see the main changes? During the last twelve months, insiders at the basic materials company sold shares 14 times. The total. The guidance seems to suggest that it should be relatively in line with the second quarter. Also during the second quarter, we completed our purchase of C.H.I. Leon J. Topalian Chair, President & CEO Join to edit Mr. Topalian was named President and Chief Operating Officer on September 5, 2019. So, having C.H.I. So, were doing a full thickness slab now in a new slab, 130-millimeter. 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 . Mr. Topalian has been President and Chief Executive Officer of Nucor and a member of its Board of Directors since 2020. of 76,357. Mr. Topalian has been President and Chief Executive Officer of Nucor and a member of its Board of Directors since 2020. 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. Based on ownership reports from SEC filings, as the reporting owner, Leon J Topalian owns 1 companies in total, including Halfway through the year, we are on pace to have our new safest year in history, which is coming off back to back to back record safety years. 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 . Fundamental company data provided by Morningstar, updated daily. Immatriculation. The corporate mailing address for Mr. Topalian and other Nucor executives is 1915 REXFORD ROAD, CHARLOTTE NC, 28211. Our direct returns to shareholders for the quarter was 37% of earnings. Thank you. As the Pres and CEO & Director of Nucor, the total compensation of Mr Topalian at Nucor is $5,953,180. These orders are critical to market stability and industry performance and are an important part of our governments trade enforcement toolkit. as Pres, Chief Executive Officer & Director in Nucor Corporation. 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. We expect these businesses, along with other new capabilities weve acquired, such as insulated metal panels and warehouse solutions, contribute as much as $600 million of incremental EBITDA annually in future years. Our July 12, 1972, news release announcing the listing gave our firms business description as "The nations largest producer of steel joists." Our utilization remains right where wed expect it. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Nucor Corp. engages in the manufacturing of steel and steel products. Match case Limit results 1 per page. Leon and Kim Topalian were raising two tweens when they felt a calling to foster two more children. Nucor is North America's largest recycler. sale 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. Nucor and its affiliates are manufacturers of steel and steel products, with operating facilities in the United States, Canada and Mexico. Last updated: 22 February 2023 at 10:21am EST. You can help Wikipedia by expanding it. [1] References [ edit] ^ Henderson, Bruce (6 September 2019). Mr. Kearney founded Eagle Marsh Holdings, LLC in 2016 and has served as its managing partner since inception. Thank you for your interest in Nucor. 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. 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. CFO & Treasurer and EVP Stephen D Laxton 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. 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. For industrial furnaces for steel strip treatment in erection, pre-commissioning and commissioning activities for more than 6 years. , Next, well hear from Emily Chieng of Goldman Sachs. 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. They remain strong with strong backlogs. Leon J Topalian around $404,130. Ill speak first -- well speak about the first half of the year. Since entering the steel business, we have focused on growing long-term earnings power and shareholder value. Is it prices offsetting -- sorry, the volumes offsetting prices, the other way around? 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