As of 20 December 2022 he still owns at least 126,809 units of Nucor stock. Nucor and its affiliates are manufacturers of steel and steel products, with operating facilities in the United States, Canada and Mexico. 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. 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. 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. We appreciate the support we have received from the state and local officials in Alabama, including Governor Kay Ivey, Alabama Department of Commerce, State of Alabama State Industrial Development Authority, Morgan County Economic Development Association, Morgan County Economic Development Cooperative District, Morgan County, Decatur Industrial Development Board, City of Decatur, Decatur-Morgan County Chamber of Commerce, Hartselle Chamber of Commerce, and the Tennessee Valley Authority, said Laurent De Mey, General Manager of Nucor Towers & Structures. And so the Live the Culture piece is easy. Thank you to our customers, and thank you for the trust that you place in each and every one of our Nucor teams for your business. Just trying to square that with the volumes being lower year-over-year. For the third quarter, we expect lower earnings from our steel mills segment relative to Q2, and we expect continued strength in steel products and raw materials with performance roughly in line with the second quarter. You may now disconnect. 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.. Leon J Topalian is the Executive Vice President of Nucor Corp. Let me start off with our steel products businesses. The girls were sent home on apnea monitors to alert the family if they stopped breathing. Executive Vice President Engineered Bar Products and Fabricated Construction Products, Chief Financial Officer, Treasurer & Executive Vice President. Our capital allocation priorities remain unchanged. As insider, Mr. Leon J. Topalian owns shares in one company: Nucor Corporation manufactures and sells steel and steel products. Thanks, Emily. This article about a chief executive from the United States is a stub. 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. Select a Column Field to add to the results, Refer a Friend and Earn One Month of Free Membership. The road to this prestigious accomplishment began with a two-year fellowship at the NIH National Cancer Institute in Bethesda, MD . 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. sale And in May, the State of West Virginia approved the air quality permit for our new sheet mill in Mason County. Has Leon J. Topalian been buying or selling shares of Nucor? 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. of 48,302 shares made by D. Chad Utermark It was a shock, especially the twin part. 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%. , 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 . So, our opportunity really isnt to move or look for other large garage door companies. We are roughly operating at about 60% total utilization in -- with C.H.I. You asked about capital for the remainder of the year. Kurt, thank you. 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 Steve. John is a proven leader. The other side of it and the other filter that we look for is how do we continue to provide sweeping solutions in construction, in energy, in automotive, so that when our commercial teams go and meet with the architects, engineers, owners, VCs, they can say weve got the entire solution for you. Id just like to congratulate our entire team again for a record first half of the year. 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. 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. My first question is just around the infrastructure package that should start to really accelerate in 2023. "These changes reflect the thoughtful, planned transition of leadership at Nucor.". Before we get to our second quarter results, I want to highlight some changes we've made to our executive. This will be the cleanest offshore-powered steel that exists in the world, and we stand in a perfect position to serve that market. So, you would look right at that 3 million ton run rate annualized. ever made was exercising 47,581 units of NUE stock 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. 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. We want the transfer price to reflect the market price into the steel mills, so that will reflect in those segment reporting. As part of this reorganization, Chad Utermark has been appointed to the newly created role of Executive Vice President of New Markets and Innovation. Nucor is North America's largest recycler. Mr. Topalian has been President and Chief Executive Officer of Nucor and a member of its Board of Directors since 2020. Great. 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. Its in supply chain and some of those constraints. 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. And its a good question in terms of how that breaks out because there are segments within the products group that will continue to have record-setting pace in performance. In the face of these discouraging statistics, Kim turned to her friends, her family, and her faith for support. And then secondly, from the raw materials side, I think your guidance includes higher DRI price realizations in Q3. Were already expanded -- have expanded our slab with beyond original capabilities. So were beyond 68 inches now. Cramer spoke with Nucor CEO Leon Topalian on Friday. 1 True or False: The 2022 edition construction to provide a construction. As of the end of June, Nucor had debt to capital of 29% and ample liquidity with $2.5 billion of cash, short-term holdings and restricted cash holdings and an undrawn $1.75 billion in revolving credit facility. The estimated Net Worth of Leon J Topalian is at least $36.3 Million dollars as of 20 December 2022. 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 were excited about the rest of this year and were excited, frankly, about 2023. We are a one-stop shop and can solve the entity and entirety of their steel needs. And how do you see working capital evolving in the coming quarters? Thanks, Curt. Yes. 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. 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. In the -- soon coming on line of our plate mill in Brandenburg. 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 . For industrial furnaces for steel strip treatment in erection, pre-commissioning and commissioning activities for more than 6 years. 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. 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. 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. It serves agriculture, automotive, construction, energy and transmission, oil and gas, heavy equipment, infrastructure, and transportation industries through its in-house sales force; and internal distribution and trading companies. 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. Nucor can also be reached via phone at (704) 366-7000 and via email at paul.donnelly@nucor.com. 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. But yes, we are seeing, again, stable demand and growing in some cases. At that time, we just operated one steel mill, which was Nucor Steel Darlington. 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. Last updated: 22 February 2023 at 10:21am EST. of $4 million awarded to support early childhood education. Leon J. Topalian has not been actively trading shares of Nucor during the last quarter. Mike, thank you for the question. I mentioned infrastructure starting to produce better strength. I look forward to working closely with Chris and the rest of Board to continue to build on Nucor's success.". So, you can back into roughly $1 billion for the second half of the year. 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. It also engages in the steel trading and rebar distribution businesses. revision of the 2016 edition. 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. The new plant will be located adjacent to the Nucor Steel Decatur sheet steel mill. Education and Research (BMBF), Germany Non-industry 119 11,409 95.9 104 28 Journal of Clinical Oncology (14), Blood (10), Diabetes Care (9) . No stops in production. [1] References [ edit] ^ Henderson, Bruce (6 September 2019). So just wondering if you have any updated comments there. Soon enough Kim had reached her second goal: 32 weeks. And most of that 60% is concentrated sort of that mid-USA levels. We really think that will start in earnest in early 23 and really begin to progress throughout the year 2023. Youre asking about pig iron. 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. There are indicators that we have come off the high in some of these businesses as far as backlogs. Other key executives at Nucor Corp include Investors are already flocking there for a chance at 1,000%+ returns. Thank you. From market futures to live price updates CNBC is the leader in business news worldwide. Through her own research and in talking with her physicians, Kim discovered that monoamniotic twins have a higher success rate if the mother can be hospitalized and monitored at 24 weeks development. As the Pres and CEO & Director of Nucor, the total compensation of Mr Topalian at Nucor is $5,953,180. John Hollatz was promoted to Executive Vice President of Bar, Engineered Bar and Rebar Fabrication. Over the years, weve developed a strong partnership with Nucor, and I look forward to seeing our relationship expand with this new venture.. Leon J Topalian is There are 1 executives at Nucor getting paid more, with JamesFrias having the highest compensation of $6,145,810. 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). January 25 2023 - 09:00AM PR Newswire (US) CHARLOTTE, N.C., Jan. 25, 2023 /PRNewswire/ -- In conjunction with Nucor's (NYSE: NUE) fourth quarter earnings release, you are invited to listen to its. Click here to see the complete history of Leon J Topalians form 4 insider trades. We have world-class manufacturing talent, and we are making the right investments to continue our track record of outperformance. 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). Now, the other piece of that, when we look at Nucor buildings group, the Nucor buildings group does roughly about 10,000 buildings annually, just our Nucor buildings group. Were seeing some -- again, the word resiliency is the right word across the nonres construction businesses and you know well now in Nucor that 50% of our overall mix is into the construction sector. Nucor Corp (NUE)'s detailed insider trading history can be found in Insider Trading Tracker table. now in the portfolio continues to differentiate Nucor as a one-stop differentiated supplier that can take care of all the needs. We have a lot of room to grow. 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. DRI benefited from elevated metallics pricing that we use to determine transaction values between segments. They sold a total of 106,839 shares worth more than $14,127,779.65. What does that mean for your cost of inventory today? Ill speak first -- well speak about the first half of the year. Topalian attributes. Our metal margins decreased by about 5% from the first quarters $941 per ton to a still robust $895 per ton. Our joist and deck business continued to be the largest contributor to the segments performance. Enjoy a 7-Day Free Trial Thru Mar 09, 2023! Leon J. Topalian is President, Chief Executive Officer & Director at Nucor Corp. As we announced in May, MaryEmily Slate retired on June 11th. Our people are our strength in Morgan County, said state Sen. Arthur Orr, who serves as chairman of the Morgan County Economic Development Association. While this is a positive development, unfairly traded imports remain a concern for our industry. Sure, Leon. The Raw Materials segment consists of direct reduced iron, and ferrous and nonferrous metals. Thank you. Rex, do you want to touch on the Gallatin question? The largest trade he's 69-year-old suffered stroke in his N.C. home; Realtor showing house left him there. After the tour, Dr. Bridges sat down with us and went over the statistical facts of survival rates. You can help Wikipedia by expanding it. And what we saw President Biden recently announced an executive orders yesterday, that will continue to position Nucor well, will position Nucors plate group and particularly Brandenburg, and an incredible value-add opportunity for our customers. he still owns at least 126,809 units of NUE stock. So very excited, very proud of that team. And then, Steve, if you would, on the CapEx? Flow Media s.r.o. Thank you for delivering on our mission and making 2022 the safest, cleanest and most profitable year in our history. [Operator Instructions] Well now hear from Timna Tanners of Wolfe Research. Absolutely. Sign up and learn more about the CNBC Investing Club with Jim Cramer https://cnb.cx/3Ei22n4 Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision Subscribe to CNBC: https://cnb.cx/SubscribeCNBCTurn to CNBC TV for the latest stock market news and analysis. As far as the DRI, we adjust our DRI transfer price monthly. This is a great company with a great reputation for working with us to make Morgan County a better place to live. 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. Nucor facilities in Alabama produce steel, tubular products, joists and decking and metal buildings, with locations in Birmingham, Tuscaloosa, Fort Payne, Eufaula and Decatur. 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. Operator, were now ready to take questions. 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. On average, Nucor executives and independent directors trade stock every 51 days with the average trade being worth of $2,903,263. Its delivering uncompromising results in every area of our business and doing that while maintaining the safety, health and wellbeing of our team. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. 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. Our highest priority is deployment of capital in our businesses to create long-term value. Overall, our steel products segment continues to benefit from strong nonresidential construction demand. , 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. You can cancel at any time. Mr Topalian is 53, he's been the Pres and CEO & Director of Nucor since .
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