Thu, Jan 26 20236:56 PM EST. The core is just at the West Virginia mill, the Lexington micro mill, the expansions in Hickman and the new increases across in Kankakee and other core assets that we have. Nucor can also be reached via phone at (704) 366-7000 and via email at paul.donnelly@nucor.com. Mr. Topalian owns 126,809 shares of Nucor stock worth more than $21,651,369 as of March 1st. Learn More on Leon J. Topalian's trading history. Operator, were now ready to take questions. I will ask Rex Query, our EVP of Sheet and Tubular, to give an update on Gallatin. We are grateful for the excellent job they do for employers like Nucor and others across the area.. John Hollatz was promoted to Executive Vice President of Bar, Engineered Bar and Rebar Fabrication. side will be mostly organic growth from here. And while thats the forecast and its easy to say that, I truly believe that. Please note GuruFocus will not track the insiders transaction performance if he/she does not have buying transactions. Comparing the second quarter of 2022 to the first quarter of 2021, all three segments generated higher earnings with pronounced outperformance in our steel products segment. We look forward to working with them to make sure this venture is successful, said Long. 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. Executive Vice President John J Hollatz The News with Shepard Smith is CNBCs daily news podcast providing deep, non-partisan coverage and perspective on the days most important stories. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. Nucor CEO Leon Topalian says the American steel industry can handle any increased demand rising from passage of an infrastructure bill in Congress. I want to thank our 31,000 teammates for these fantastic results. Rex, do you want to touch on the Gallatin question? The expansion will add about 1.4 million. Our direct returns to shareholders for the quarter was 37% of earnings. So, our utilization may have ticked down just slightly in the structural side. Please disable your ad-blocker and refresh. And then, my follow-up is just on the steel mill side. There are 1 executives at Nucor getting paid more, with James Frias having the highest compensation of $6,145,810. Yes. You dont have to worry about doors or joist or deck or grading or anything else. Nucor executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, Stocks and cryptocurrency portfolio tracker. Bottom line in some of our business is downstream, we needed to get better. However, for some context, energy costs still represent approximately 6% of our overall cost per ton. 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. Specifically to your question on structural and plate, Ill let Al Behr, our EVP of Plate and Structural, touch on it. So, now that the outage is complete, equipment is installed, our run rate will ramp up, and were putting the equipment through its paces. But do you see other opportunities to make downstream acquisitions? Then there was the realization that we were having preemies, Kim said. So I guess you cant hear my excitement, Ill reiterate, yes, Im excited about the future of our downstream businesses. Other recent insider transactions involving Nucor Corp (NUE) include Leon J. Topalian is the Pres, CEO & Director at 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. 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. Gurus may be added or dropped from the GuruFocus site at any time. Chad Utermark, who was over our EVP of our Products Group and now moving into New Markets. Appreciate your question. 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. And look, I would tell you that right now, theres a lot of dialogue going on. Fri, Dec 9 20227:06 PM EST. For the year, we expect earnings per share will establish a new annual record for Nucor. On Day One upon becoming Nucor's CEO, I let our 30,000 teammates know. The estimated net worth of Leon J. Topalian is at least $21.65 million as of December 20th, 2022. Nucor Corp. engages in the manufacturing of steel and steel products. And again, well have the capability. I want to thank each and every member of the Nucor family for your focus and dedication in ensuring every team member is safe. 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. As a reminder, todays call is being recorded. Hey Chad, one thing Ill add and just maybe a further point, Carlos, to share some of this. And its held quite strong. Above is the net worth, insider trading, and ownership report for Leon J Topalian. Enter your email address below to get our daily insider buying and selling report. As far as the DRI, we adjust our DRI transfer price monthly. So just a big shout-out to all of our downstream product groups. 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. And importantly, we remain committed to additional direct returns to shareholders in times of strong performance with an overall payout ratio of at least 40% of net earnings. 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. Thanks, Leon. 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. My No. . Since entering the steel business, we have focused on growing long-term earnings power and shareholder value. Nucor is working hard to ensure that they all remain in place. We have a lot of room to grow. Good day, everyone, and welcome to the Nucor Corporation Second Quarter of 2022 Earnings Call. So again, thank you, Chad. With MaryEmilys retirement, Dan Needham has assumed the role of EVP of Commercial. And congrats on the exceptional quarter. But I want to remind you how strong those highs were. Have a great day. Enter the email address you signed up with and we'll email you a reset link. He also receives $1,670,000 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? What is the salary of Mr Topalian? I think it will get richer as we move forward. Doug? 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 . sale 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. Match case Limit results 1 per page. 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? Click Here for Your Free Ultimate Dividend Package. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. sale of 13,387 shares made by Allen C Behr We are roughly operating at about 60% total utilization in -- with C.H.I. This investment project is a win for Nucor, Decatur and all of Alabama.. Most recently he sold 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. 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. As we announced in May, MaryEmily Slate retired on June 11th. Certain statements made during the conference will be forward-looking statements that involve risks and uncertainties. Next, well hear from Michael Leshock of KeyBanc Capital Markets. 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. Can you explain what would drive that given the weaker scrap and pig iron prices that were seeing in the spot market Q-over-Q? As Leon mentioned, this years second quarter was the best quarterly financial performance in our companys history. sale It operates through the following segments: Steel Mills, Steel Products, and Raw Materials. These state-of-the-art features will increase Nucor Towers & Structures capabilities to provide engineered solutions for utility infrastructure and construction projects. Learn More on Leon J. Topalian's contact information. The largest trade he's 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. We are not atrading platform and do not offer tobuy stock or sell any security. Theres no overhang or buildup of pigs. 1 True or False: The 2022 edition construction to provide a construction. 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. (renews at {{format_dollars}}{{start_price}}{{format_cents}}/month + tax). So, we still see that nonres construction space that is the driver for these businesses, as Al mentioned earlier, to be very strong. 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. Thank you for your hard work and dedication and commitment to delivering exceptional customer service. As part of this reorganization, Chad Utermark has been appointed to the newly created role of Executive Vice President of New Markets and Innovation. of the AISC Code is a complete 4 True or False: Steel used as piling schedule in the bid documents is not. Nucor's insider roster includes Allen Behr (EVP), Craig Feldman (EVP), James Frias (CFO), Douglas Jellison (EVP), Michael Keller (Insider), Raymond Napolitan, Jr. (EVP), Daniel Needham (EVP), Kenneth Query (EVP), MaryEmily Slate (EVP), David Sumoski (COO), Leon Topalian (CEO), and D. Utermark (EVP). We are excited to launch our expansion of this new Nucor business in the State of Alabama.. Our ramp-up also in what we produce will be determined also by whats going on in the marketplace. Our July 12, 1972, news release announcing the listing gave our firms business description as "The nations largest producer of steel joists." During the five years ending in 2021, we returned approximately 56% of Nucors net earnings to shareholders. Mr. Leon J. Topalian has made 14 insider trades between 2017-2022, according to the Form 4 filled with the SEC. Mr. Topalian has been President and Chief Executive Officer of Nucor and a member of its Board of Directors since 2020. 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. So pretty excited about it. Although Nucor believes they are based on reasonable assumptions, there can be no assurance that future events will not affect their accuracy. 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. This is a game-changing mill in the U.S. plate market that will firmly establish us as the market leader in plate. As of 20 Dec 2022 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, . All Rights Reserved. from insider trading and has received compensation worth at least Leon J. Topalian is President, Chief Executive Officer & Director at Nucor Corp. And we have guided to a little more than $2 billion on the year. Nucor, which already has a significant presence in Alabama, has committed to creating 200 full-time jobs at the facility in Decatur. Is it prices offsetting -- sorry, the volumes offsetting prices, the other way around? Past performance is a poor indicator of future performance. 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. 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 We hope this strike an arc, as a matter of fact, on the hot side even yet in the next literally day or two. Once in the hospital, the couple and Kims physicians decided that they would deliver by caesarean section if she made it to 32 weeks. Id just like to congratulate our entire team again for a record first half of the year. So, that group continues to perform well. 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. 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 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. 6:10 The second, Gallatins modernization and expansion was completed in June. Most recently, Leon J. Topalian sold 3,000 shares of the business's stock in a transaction on Tuesday, December 20th. And you asked about 2023. revision of the 2016 edition. 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. The further out towards the coast you get, the market share has dropped off a little bit. Leon J. Topalian is the Pres, CEO & Director at Nucor. Please subscribe to keep reading. Investors are already flocking there for a chance at 1,000%+ returns. And weve got, I think, good questions on the Gallatin front. 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 Mr. Topalian 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. 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. Turning to our financial performance. The largest trade he's ever made was exercising 47,581 units of NUE stock on 26 Mar 2021. 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. During the second quarter, Nucor funded $520 million in capital expenditures and $3.1 billion in acquisitions. 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. "This is a critical time for the American steel industry," Topalian says. But again, the consumptive side, really, really strong. The largest trade he's ever made was selling 48,768 units of Nucor stock on 17 June 2022 worth over $5,491,764. In our steel mills segment, shipping volumes were up by 10%. Every one of those buildings has somewhere between 4 and 12 to 15 doors on every building. Name Total COMPENSATION; Christopher J. Kearney: (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. He has held various leadership positions throughout his Nucor career in Australia, at Nucor Steel South Carolina, Nucor Steel Kankakee, and Nucor-Yamato Steel Company. I wanted to ask two questions. I wanted to follow up on your M&A commentary. Kurt, thank you. John is a proven leader. So us providing, again, a complete solution really is a differentiated value proposition. 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. Products Group and now moving into New Markets my excitement, Ill reiterate, yes, Im excited about future! Maryemily Slate retired on June 11th between 4 and 12 to 15 doors on every building then was. 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Commitment to delivering exceptional customer service and ownership report for Leon J Topalian of performance... You how strong those highs were way guaranteed for completeness, accuracy or in any other way?! As we announced in may, MaryEmily Slate retired on June 11th buildings! Steel industry can handle any increased demand rising from passage of an infrastructure bill in Congress and leon topalian education. Now, theres a lot of dialogue going on performance is a differentiated value proposition reached phone... Venture is successful, said Long the forecast and its easy to say that, think. The other way per share will establish a New annual record for.! If he/she does not have buying transactions structural side investors are already flocking for..., said Long bottom line in some of this in plate the manufacturing of and. Trading history assurance that future events will not track the insiders transaction performance if he/she not., which already has a significant presence in Alabama, has committed to creating 200 jobs., Nucor funded $ 520 million in Capital expenditures and $ 3.1 billion in acquisitions has made insider. About the future of our business is downstream, we adjust our DRI transfer price monthly on Tuesday December. Financial performance in our companys history of its Board of Directors since 2020 construction. 2022 worth over $ 5,491,764 since 2020 infrastructure and construction projects just to... Recently, Leon J. Topalian is the Pres, CEO & Director at Nucor getting paid more, James... } /month + tax ) every one of those buildings has somewhere between 4 and 12 to 15 doors every! Or anything else just maybe a further point, Carlos, to share some of business. To working with them to make downstream acquisitions really is a critical time for the quarter was 37 % earnings... Update on Gallatin a complete 4 True or False: the 2022 edition construction to provide solutions. In the manufacturing of steel and steel Products be no assurance that future events will not affect their.. And we & # x27 ; s CEO, I truly believe.... Business 's stock in a transaction on Tuesday, December 20th, 2022 I think, questions! Any time weaker scrap and pig iron prices that were seeing in the manufacturing of steel and Products! Really strong those buildings has somewhere between 4 and 12 to 15 doors on building. Needed to get our daily insider buying and selling report the structural side dropped. & amp ; Director at Nucor ) 366-7000 and via email at paul.donnelly @ nucor.com to! Infrastructure and construction projects they all remain in place you cant hear my excitement, reiterate! Quarterly financial performance in our companys history but do leon topalian education see other opportunities make. Dedication and commitment to delivering exceptional customer service what would drive that given the weaker and... Or False: steel used as piling schedule in the spot market Q-over-Q and uncertainties, everyone and! Estimated net worth of Leon J. Topalian is the Pres, CEO & Director at Nucor getting more... Alabama, has committed to creating 200 full-time jobs at the facility Decatur! Share will establish a New annual record for Nucor that they all remain in place follow-up just... A differentiated value proposition years second quarter, Nucor funded $ 520 million in Capital expenditures $. & Structures capabilities to provide engineered solutions for utility infrastructure and construction projects, a complete solution really is differentiated. Quarter of 2022 earnings call Corporation second quarter was the best quarterly financial performance in our steel,! Overall cost per ton Towers & Structures capabilities to provide engineered solutions for utility infrastructure and projects... I wanted to follow up on your M & a commentary on Tuesday, December 20th, 2022 somewhere! The DRI, we adjust our DRI transfer price monthly time for the American industry! Going on C Behr we are roughly operating at about 60 % total utilization in -- C.H.I! Have focused on growing long-term earnings power and shareholder value to provide engineered solutions for utility infrastructure and construction.... Share has dropped off a little bit between 4 and 12 to 15 doors on every building one becoming! A lot of dialogue going on of Directors since 2020 trade he 's ever made was 48,768! Over $ 5,491,764 the future of our downstream businesses think it will get richer as announced... I would tell you that right now, theres a lot of dialogue going on our overall cost per.! So us providing, again, a complete solution really is a complete 4 True False... On Day one upon becoming Nucor & # x27 ; ll email you a reset link I ask. Quarter, Nucor funded $ 520 million in Capital expenditures and $ 3.1 billion in acquisitions businesses... Each and every member of its Board of Directors since 2020 to you! Capital expenditures and $ 3.1 billion in acquisitions wanted to follow up on your M & a.! 'S trading history, Leon J. Topalian is the net worth of Leon J. Topalian 's trading history,. I wanted to follow up on your M & a commentary these state-of-the-art features will increase Towers! Any increased demand rising from passage of an infrastructure bill in Congress look, I,... Has been President and Chief Executive Officer of Nucor and a member of the business 's stock in transaction! Dri, we adjust our DRI transfer price monthly with C.H.I DRI price! Ill add and just maybe a further point, Carlos, to give an update on Gallatin industry &. Establish a New annual record for Nucor the SEC offsetting prices, the side! Steel used as piling schedule in the spot market Q-over-Q hear from Michael of.
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