The operating business segments are: steel mills, steel products and raw materials, the steel mills segment derives maximum revenue. There are 17 older and 3 younger executives at Nucor. 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. Nucor Corp manufactures steel and steel products. Our highest priority is deployment of capital in our businesses to create long-term value. Is it prices offsetting -- sorry, the volumes offsetting prices, the other way around? But yes, we are seeing, again, stable demand and growing in some cases. As insider, Mr. Leon J. Topalian owns shares in one company: Nucor Corporation manufactures and sells steel and steel products. After spending three weeks in the NICU, the girls were eating and breathing well on their own. It was around this time that Kim discovered she was pregnant. Immatriculation. Yes. The company also produces direct reduced iron for use in its steel mills. . Ferriola has been Nucor's chief executive since 2013. Mr Topalian owns over 3,000 units of Nucor stock worth over $20,706,642 and over the last 6 years he sold NUE stock worth over $9,685,670. Nucor and its affiliates are manufacturers of steel and steel products, with operating facilities in, . That -- the new equipment, were capable of 73.5 inches. During that time, we have led the transformation of the domestic steel industry, and we are the envy of the world in terms of Nucors environmental footprint, safety performance and efficiency as well as profitability. First question is just with respect to the plate and structural markets. Reverso Context-: So I guess you cant hear my excitement, Ill reiterate, yes, Im excited about the future of our downstream businesses. The quarters earnings of $9.67 per diluted share exceeded our prior quarterly record of $7.97 per share by more than 20%. My first question is just around the infrastructure package that should start to really accelerate in 2023. 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. Earlier, I mentioned the 50th anniversary of our New York Stock Exchange listing. That segment produced $1.1 billion in operating profits for the quarter. 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. It has an affiliated registered investment adviser, which serves as the subadviser to an exchange traded fund. 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. Sold (or bought if negative) in USD Topalian Leon J HALL LADD R DARSEY JAM. Our mission, to become the worlds safest steel company, is the greatest measure of our culture and our most important value. 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? We will continue to work hard to earn that business well into the future. 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. Most recently he sold This will be the cleanest offshore-powered steel that exists in the world, and we stand in a perfect position to serve that market. Cramer spoke with Nucor CEO Leon Topalian on Friday. Details can be seen in Leon J Topalian's Latest Holdings Summary section. 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 Nucor Corporation. And its held quite strong. Our ramp-up also in what we produce will be determined also by whats going on in the marketplace. 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. Leon J. Topalian Chair, President & CEO Join to edit Mr. Topalian was named President and Chief Operating Officer on September 5, 2019. Mr. Leon J. Topalian has made 14 insider trades between 2017-2022, according to the Form 4 filled with the SEC. 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%. Mr. Topalian has been President and Chief Executive Officer of Nucor and a member of its Board of Directors since 2020. Our Brandenburg, Kentucky plate mill is on schedule and on budget for a late 2022 production start with almost 400 team members on board. Thank you. Its just a tremendous outcome, and again, something that we and the entire executive team could not be more proud of the 30,000 men and women who make up the Nucor family. So, in terms of the volumes, yes, its coming off 19%. "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 are grateful for the excellent job they do for employers like Nucor and others across the area.. Just trying to square that with the volumes being lower year-over-year. If you have an ad-blocker enabled you may be blocked from proceeding. 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. Lets continue our progress towards delivering the safest, cleanest and most profitable year in Nucors history. Rex, do you want to touch on the Gallatin question? So just wondering if you have any updated comments there. As of 20 Dec 2022 Seth, thanks for the question. The Raw Materials segment consists of direct reduced iron, and ferrous and nonferrous metals. "These changes reflect the thoughtful, planned transition of leadership at Nucor.". And then secondly, from the raw materials side, I think your guidance includes higher DRI price realizations in Q3. Yes. The operations include international trading and sales companies that buy and sell steel and steel products manufactured by the company and others. The largest trade he's Nonresidential construction has been one of our most resilient markets across the enterprise, and we would expect that continues in 2023. And how deep is your pipeline of potential targets right now? And heres why. This chart shows Leon J Topalian's buying and selling at Nucor by year and by quarter. Nucor is North America's largest recycler. About NucorNucor and its affiliates are manufacturers of steel and steel products, with operating facilities in the United States, Canada and Mexico. 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. Enter the email address you signed up with and we'll email you a reset link. It is difficult to recall everything we went through because now they are healthy and running around, Leon said. 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. This article about a chief executive from the United States is a stub. So, we still see that nonres construction space that is the driver for these businesses, as Al mentioned earlier, to be very strong. These orders are critical to market stability and industry performance and are an important part of our governments trade enforcement toolkit. So pretty excited about it. This segments earnings power and strong free cash flow characteristics continue to make key contributions to our overall performance. Leon J. Topalian is President, Chief Executive Officer & Director at Nucor Corp. Topalian attributes. For the year, we expect earnings per share will establish a new annual record for Nucor. Past performance is a poor indicator of future performance. If we could solve the chip shortage today, I think were going to crest well over 17 million units sold. 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. We want the transfer price to reflect the market price into the steel mills, so that will reflect in those segment reporting. I mean, we stand as the only mill in North America, the only mill in the Western Hemisphere that can serve that market thats currently served by foreign steel, mostly blast furnace steel. 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. Operator, were now ready to take questions. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. The estimated net worth of Leon J Topalian is at least $22 Million dollars as of 2023-02-02. The shares were sold at an average price of $134.71, for a transaction totalling $404,130.00. Again, fabricators are a big part of that plate business. Learn More on Leon J. Topalian's trading history. Look, I think so. I was so excited that we had made it. Currently I. he still owns at least 126,809 units of NUE stock. The company was founded by Ransom E. Olds in 1905 and is headquartered in Charlotte, NC. I think the underlying demand, the consumable spending appetite in this country still remains fairly high. With the outages, we were a little bit under that at Gallatin, but we augmented that with other sheet mills in our group. The nurses already knew who we were, Leon said. The estimated net worth of Leon J. Topalian is at least $21.65 million as of December 20th, 2022. So, we see a little bit probably leveling of pig prices through the third quarter declining into the fourth quarter. The oldest executive at Nucor Corp. is JosephRupp, 69, who is the Director. 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. 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. We really think that will start in earnest in early 23 and really begin to progress throughout the year 2023. Thank you for your interest in Nucor. The News with Shepard Smith is CNBCs daily news podcast providing deep, non-partisan coverage and perspective on the days most important stories. This became Kims goal. Okay, Carlos. No stops in production. Yes. This net worth estimate does not reflect any other investments that Mr. Topalian may own. During the second quarter, Nucor funded $520 million in capital expenditures and $3.1 billion in acquisitions. Mr. Leon J. Topalian salary is $5,950,000 per year Yes, Timna. Once in the hospital, the couple and Kims physicians decided that they would deliver by caesarean section if she made it to 32 weeks. The road to this prestigious accomplishment began with a two-year fellowship at the NIH National Cancer Institute in Bethesda, MD . Also, increased federal government support for electric infrastructure and clean energy projects will drive additional demand. 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. If we just look, for example, at the warehousing space, forecast by Dodge for 2023 is down about 19%. I am a degree holder in Technology Engineering and I was involved in O&M activity for more than 30 years, mainly in power plant activity. The corporate mailing address for Mr. Topalian and other Nucor executives is 1915 REXFORD ROAD, CHARLOTTE NC, 28211. Turning to the outlook for the third quarter of 2022. As youre also aware, we closed on C.H.I. Let me start with the back half and then, Rex, Ill turn it over to you. 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. They remain a bit cautious with their buys. The largest trade he's ever made was exercising 47,581 units of NUE stock on 26 Mar 2021. stock. NewsBreak provides latest and breaking news about Leon Topalian. Mr. Kearney founded Eagle Marsh Holdings, LLC in 2016 and has served as its managing partner since inception. 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. . How do you see margins? And as you may recall, original stated capacity for that mill, about 1.6 million tons. 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. Operating profits were stronger than we anticipated for all three segments. Nucor, which already has a significant presence in Alabama, has committed to creating 200 full-time jobs at the facility in Decatur. I mentioned infrastructure starting to produce better strength. And thats how were thinking about it as we move forward and the types of businesses Chad will be responsible for in the Expand Beyond category. However, for some context, energy costs still represent approximately 6% of our overall cost per ton. Nucor's board named Leon Topalian, 51, president and chief operating officer effective Thursday. Il s'agit d'un socit dont la forme juridique est Le code d'activit . We continue to want to be great stewards and great shepherds to return that valuable shareholder capital. Leon J. Topalian is President, Chief Executive Officer & Director at Nucor Corp. Thank you. What does that mean for your cost of inventory today? Nucor has an additional $3.6 billion of approved and in-process organic growth investments that will be completed by 2025. 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. The second, Gallatins modernization and expansion was completed in June. 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. But why dont you just touch on that a little bit and share where were at with Brandenburg as well. 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. 6:10 When the Topalians arrived for their tour of the Neonatal Intensive Care Unit (NICU), the entire staff had been debriefed on their situation. Its Steel Products segment offers hollow structural section steel tubing products, electrical conduits, steel racking, steel joists and joist girders, steel decks, fabricated concrete reinforcing steel products, cold finished steel products, steel fasteners, metal building systems, insulated metal panels, steel grating and expanded metal products, and wire and wire mesh products primarily for use in nonresidential construction applications. The Topalians were also told they could expect a 50 percent survival rate. What is the salary of Mr Topalian? 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. Nucor facilities in Alabama produce steel, tubular products, joists and decking and metal buildings, with locations in Birmingham, Tuscaloosa, Fort Payne, Eufaula and Decatur. 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. Thank you for your interest in our company. First, with regards to pig iron from the mills perspective, obviously, when we spoke to you a few months ago, you emphasized the strategy to derisk pig iron supply for the full year. 1 True or False: The 2022 edition construction to provide a construction. Leon J Topalian is the Executive Vice President of Nucor Corp. Our record first half results continue the history of delivering new highs in profitability and cash flow through successive economic and steel market cycles, demonstrating the sustainability and adaptability of Nucors business model. 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 . They sold a total of 106,839 shares worth more than $14,127,779.65. As part of this reorganization, Chad Utermark has been appointed to the newly created role of Executive Vice President of New Markets and Innovation. Mr. Topalian owns 126,809 shares of Nucor stock worth more than $21,651,369 as of March 1st. 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. Formerly of Topalian's Newsagents, Grange . The companys capital investment in Decatur includes land improvements, construction of a new building and manufacturing equipment. And thinking about the longer term, with balance sheet strength and product diversity that is unparalleled in our industry, coupled with our highly variable and adaptive business model, we remain confident that Nucor is well positioned to deliver on our commitments to our team, our customers and our shareholders over time. The quarters earnings of $ 7.97 per share by more than 20.... Executives is 1915 REXFORD road, Charlotte NC, 28211 owns shares in one company: Nucor manufactures... Of 73.5 inches selling at Nucor Corp. 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