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. We said, Lord, if you allow us to have these babies, what a miracle it will be.. Cornerstone and the insulated metal panel building business is doing that. Also during the second quarter, we completed our purchase of C.H.I. sale At that time, we just operated one steel mill, which was Nucor Steel Darlington. 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. They remain a bit cautious with their buys. So I do want to state that, and well gauge that by the demand in the marketplace. [1] References [ edit] ^ Henderson, Bruce (6 September 2019). Good afternoon, Leon and team. They remain strong with strong backlogs. My No. On this Wikipedia the language links are at the top of the page across from the article title. Leon J Topalian made Our direct returns to shareholders for the quarter was 37% of earnings. Just trying to square that with the volumes being lower year-over-year. 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 I will turn the call back over to Leon for any additional or closing comments. The Topalians were also told they could expect a 50 percent survival rate. But, were not seeing any real movement in terms of material orders. 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. I think the underlying demand, the consumable spending appetite in this country still remains fairly high. This is Steve. 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 So, a big shout-out to the team and a thank you. I look forward to working closely with Chris and the rest of Board to continue to build on Nucor's success.". Its in supply chain and some of those constraints. Groundbreaking for the project will happen later this year. In addition to that, were bringing on these new businesses in Expand Beyond. So, with regard to Gallatin, if I look at your sheet tons, youre running -- run rate less than a year ago levels. Look, I think so. Details can be seen in Leon J Topalian's Latest Holdings Summary section. On Day One upon becoming Nucor's CEO, I let our 30,000 teammates know. The most recent stock trade was executed by Kenneth Rex Query on 3 February 2023, trading 1,962 units of NUE stock currently worth $349,216. 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. I wanted to follow up on your M&A commentary. And heres why. What is the composition of these basically stable operating results? Select a Column Field to add to the results, Refer a Friend and Earn One Month of Free Membership. Both infants were placed on a continuous positive airway pressure machine at birth to provide oxygen. 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. Also joining me today on the call are members of the Nucors executive team, including Dave Sumoski, our Chief Operating Officer; Steve Laxton, our Chief Financial Officer; Al Behr, responsible for Plate and Structural Products; Doug Jellison, responsible for Raw Materials and Logistics, Greg Murphy, responsible for Business Services and our General Counsel; and Rex Query, responsible for Sheet and Tubular Products. 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. Mr. Kearney founded Eagle Marsh Holdings, LLC in 2016 and has served as its managing partner since inception. Thanks. Mr. Leon J. Topalian has made 14 insider trades between 2017-2022, according to the Form 4 filled with the SEC. Yes, Timna. Cramer spoke with Nucor CEO Leon Topalian on Friday. Leon J Topalian is the Chair, President and CEO of Nucor Corp and owns about 128,107 shares of Nucor Corp (NUE) stock worth over $22 Million . Thank you all for your participation. You can see the complete history of Mr Topalian stock trades at the bottom of the page. Thank you. Please go ahead, sir. Quick summary, all our primary steelmaking equipment has been purchased. 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 information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. from 8 AM - 9 PM ET. 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. Yes. 3,000 shares on December 20, 2022, which So, at $1.1 billion of net earnings for our products group, they are setting an incredibly high bar and really operating on all cylinders. 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, . 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. "This is a critical time for the American steel industry," Topalian says. There are 1 executives at Nucor getting paid more, with JamesFrias having the highest compensation of $6,145,810. I was so excited that we had made it. You may now disconnect. While those are real, the driving demand factors in our businesses, for the most part, remain very healthy. Thank you for your hard work and dedication and commitment to delivering exceptional customer service. acquisition, look, in our minds, we acquired the very best company out there in that space, period, bar none. In this new role, Chad will focus on our continued growth into new markets and integrating new businesses into the core operations of Nucor. Yes. 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. Based on ownership reports from SEC filings, as the reporting owner, Leon J Topalian owns 1 companies in total, including Congress must get this important bipartisan priority across the finish line. You have permission to edit this article. The Steel Mills segment consists of carbon and alloy steel in sheet, bars, structural and plate, steel trading businesses, rebar distribution businesses, and Nucor's equity method investments. Nucor Corporation executives and other stock owners filed with the SEC: Strike the best investing opportunities on the market! 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.. Latest: Nucor to Add Melt Ship at Kingman Bar Mill As we execute on our mission statement, to grow the core, expand beyond and live our culture, these investments are excellent examples of what we look for and expand beyond businesses. The result is that today, we are the leading North American manufacturer of a diverse array of steels and steel products providing essential solutions for construction, infrastructure, energy, transportation, automotive, capital goods and consumer-durable market applications. and Nucor Corporation. Nucor and its affiliates are manufacturers of steel and steel products, with operating facilities in the United States, Canada and Mexico. 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. Our utilization remains right where wed expect it. So, if you look at the group -- if you took the first half of the year, we were running at a utilization above the 80% mark as a group. 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.. So, our utilization may have ticked down just slightly in the structural side. 2004-2023 GuruFocus.com, LLC. Ive got two points on raw material strategy, please. 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. But how much of Gallatin was in the second quarter? And assuming demand allows, should we be seeing that 1.4, half of that flow through fully in the second half of the year? "These changes reflect the thoughtful, planned transition of leadership at Nucor.". It is a true vote of confidence in our community when an existing business decides to further expand its operations here. I wanted to ask two questions. As insider, Mr. Leon J. Topalian owns shares in one company: Nucor Corporation manufactures and sells steel and steel products. We are the leading structural manufacturer in the United States. After the tour, Dr. Bridges sat down with us and went over the statistical facts of survival rates. This investment project is a win for Nucor, Decatur and all of Alabama.. What does that mean for your cost of inventory today? So, we see a little bit probably leveling of pig prices through the third quarter declining into the fourth quarter. 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. Other transactions such as conversion of derivative security or exercise of options are not included. 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. today. Nucor is, 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, UPDATE 1-London Stock Exchange Group posts steady 2022 earnings, eyes buyback on Blackstone/TR stake, S.Africa's MultiChoice and Comcast to create Africa-wide streaming service, UPDATE 1-Metro Bank flags limited growth in 2023 net interest margin, Metro Bank flags limited growth in 2023 net interest margin, London Stock Exchange Group posts steady 2022 earnings, eyes buyback on Blackstone/TR stake. Yet only 1 percent of them are monoamniotic twins, like Isabella and Sophia. Nucor Corp. engages in the manufacturing of steel and steel products. Operator, were now ready to take questions. Prior to that time, he held various leadership positions at Nucor, including President and Chief Operating Officer in 2019, Executive Vice President from 2017 to 2019, and Vice President from 2013 to 2017. As of 20 Dec 2022 he still owns at least 126,809 units of NUE stock. If we could solve the chip shortage today, I think were going to crest well over 17 million units sold. Mr. Leon J. Topalian is 55 years old, born in 1968. Thanks. 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. The nurses already knew who we were, Leon said. of the AISC Code is a complete 4 True or False: Steel used as piling schedule in the bid documents is not. That segment produced $1.1 billion in operating profits for the quarter. Thanks, Leon. It sounds like the C.H.I. Please note GuruFocus will not track the insiders transaction performance if he/she does not have buying transactions. Formerly of Topalian's Newsagents, Grange . Certain statements made during the conference will be forward-looking statements that involve risks and uncertainties. Yes. 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. After spending three weeks in the NICU, the girls were eating and breathing well on their own. With her new goal in distant sight, Kim settled into her room on the Antepartum Unit for the next 53 days. 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? Mr. Kearney was also director of Polypore International, Inc. from 2012 to 2015. And so, Ill give you that same outlook from what we said today. But that is an incredible construction solution piece. Click here to see the complete history of Leon J Topalians form 4 insider trades. 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. This net worth estimate does not reflect any other investments that Mr. Topalian may own. La socit AUBERT*SOUVRAY/JOCELYNE/ est situ au 64 RUE CARNOT 72200 LA FLECHE Elle a t cre le 14/04/2016 et elle est immatricule sous le numro 819496126 au greffe de LE MANS AUBERT*SOUVRAY/JOCELYNE/ est immatricule au Registre du commerce et des socits.. Forme juridique et activit. The further out towards the coast you get, the market share has dropped off a little bit. And as a result, you are seeing higher highs and higher lows. Leon Topalian is CEO of Nucor Corp. Although Nucor believes they are based on reasonable assumptions, there can be no assurance that future events will not affect their accuracy. The words we expect, believe, anticipate, and variations of such words and similar expressions are intended to identify those forward-looking statements, which are based on managements current expectations and information that is currently available. Seth, thanks for the question. So I guess you cant hear my excitement, Ill reiterate, yes, Im excited about the future of our downstream businesses. He has earned $13,035,624 I know you said that you were looking to shore up maybe more overhead garage stores to kind of get more critical mass like you did with the tubulars -- structural tubing in the past. 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