This is a great company with a great reputation for working with us to make Morgan County a better place to live. and Nucor Corporation. Mr. Kearney was also director of Polypore International, Inc. from 2012 to 2015. Youre asking about pig iron. Products produced include: carbon and alloy steel -- in bars, beams, sheet and plate; hollow structural section tubing; electrical conduit; steel piling; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; precision castings; steel fasteners; metal building systems; steel grating; and wire and wire mesh. For opening remarks and introductions, I would like to turn the call over to Leon Topalian, President and Chief Executive Officer of Nucor Corporation. This segments earnings power and strong free cash flow characteristics continue to make key contributions to our overall performance. Leon J Topalian made 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). [Operator Instructions] Well now hear from Timna Tanners of Wolfe Research. 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. Nucor Corp. engages in the manufacturing of steel and steel products. 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. Formerly of Topalian's Newsagents, Grange . from 8 AM - 9 PM ET. Last updated: 22 February 2023 at 10:21am EST. Get notified the next time Leon J. Topalian buys or sells Nucor stock. Look, I think so. In the -- soon coming on line of our plate mill in Brandenburg. On average, Mr trades about 6,725 units every 79 days since 2017. 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. ICYMI: Leon Topalian, Nucor Corporation CEO and Chairman of AISI discussed WTO's ruling against U.S. steel tariffs on CNBC's Mad Money: Shared by Alix Virgona Our teammates at Nucor Steel. He has earned $13,035,624 Our mission, to become the worlds safest steel company, is the greatest measure of our culture and our most important value. It was around this time that Kim discovered she was pregnant. Great. These orders are critical to market stability and industry performance and are an important part of our governments trade enforcement toolkit. Itd probably be in the several hundred thousand ton range, based on what we see today that we would produce between now and the end of the year and from the new expansion part of Gallatin. Nucor Corporation. With regard to plate, I would say weve made several changes on how we market that product, how we take it to market, how we price it and how we lowered our order books. Leon J. Topalian has not been actively trading shares of Nucor during the last quarter. You probably know better than we do. Her impact on our teams across the enterprise contributed greatly to Nucors success and profitable growth. $37,370,000 in Nucor Corporation All rights reserved. Please. Congress must get this important bipartisan priority across the finish line. 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. 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. Thanks, Emily. 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. We are so excited to welcome our new team members into the Nucor family. "I want to thank John for his numerous contributions to Nucor. 2004-2023 GuruFocus.com, LLC. . I will ask Rex Query, our EVP of Sheet and Tubular, to give an update on Gallatin. 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. Leon Topalian is an American businessman and the president and CEO of Nucor since January 2020. Thank you for your interest in our company. Number one, weve been making some changes in our businesses through the years, and weve talked about some of those, from restructuring some of our business to bringing on a construction solutions team, even alignment within our groups to better, more effective commercial practices and expectations that drive higher EBITDA margins. 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. I think it will get richer as we move forward. 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. 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. You asked about capital for the remainder of the year. And how deep is your pipeline of potential targets right now? 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. Mr. Topalian has been President and Chief Executive Officer of Nucor and a member of its Board of Directors since 2020. Any color would be helpful. Cramer interviewed Nucor CEO Leon Topalian on Thursday. 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. And in fact, their performance in the quarter was stronger financially than the entire year of 2021. Learn More about Leon J. Topalian's net worth. 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. Weve made progress, and Im proud of where the team is at and where were headed. Theres no overhang or buildup of pigs. Leon and Kim Topalian were raising two tweens when they felt a calling to foster two more children. I wanted to follow up on your M&A commentary. I wanted to ask two questions. The total. Nucor CEO Leon Topalian says the American steel industry can handle any increased demand rising from passage of an infrastructure bill in Congress. Ill just say from a very high level before I turn it to Al that one of the unique opportunities that we have, particularly in structural, is the market share position that we have. Thank you for your hard work and dedication and commitment to delivering exceptional customer service. "I am honored to have been chosen by my fellow directors to serve as Lead Director of the Board and welcome the opportunity to serve the Board and all Nucor teammates in this new role," Kearney said. And maybe just as a quick follow-up. Nucors tremendous growth in profitability and market value over the past five decades has been fueled by our decision back then to expand upstream into steelmaking. And weve got, I think, good questions on the Gallatin front. In summary, during the past 3 months, insiders sold 57,932 shares of Nucor Corp (NUE) in total and bought 0 shares, with a net 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. Enter the email address you signed up with and we'll email you a reset link. They remain a bit cautious with their buys. MaryEmily is a dedicated and exceptional leader, and we thank her for her more than 21 years with Nucor. acquisition, look, in our minds, we acquired the very best company out there in that space, period, bar none. 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. Currently I. The sentiment around that part of the market is perhaps, I would say more pessimistic than what the reality is. In addition to that, were bringing on these new businesses in Expand Beyond. Is it possible to get an update on how you see CapEx for the remainder of the year, maybe first look at 2023? John Hollatz was promoted to Executive Vice President of Bar, Engineered Bar and Rebar Fabrication. Just trying to square that with the volumes being lower year-over-year. And most of that 60% is concentrated sort of that mid-USA levels. Its in supply chain and some of those constraints. Describe your leadership style and how you put it into action within your organization. We also remain committed to our regular quarterly dividend, something Nucor has paid and grown consistently over the last half century. as Pres, Chief Executive Officer & Director in Nucor Corporation. Thank you. Hey. Fri, Dec 9 20227:06 PM EST. The new plant will be located adjacent to the Nucor Steel Decatur sheet steel mill. Thanks, Leon. We look forward to rapidly scaling up their operations as we continue to broaden our portfolio of construction market solutions. Leon J Topalian owns 128,107 shares of Nucor Corp (NUE) as of December 20, 2022, with a value of $22 Million. The Topalians were also told they could expect a 50 percent survival rate. 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. As of 20 Dec 2022 Over the years, weve developed a strong partnership with Nucor, and I look forward to seeing our relationship expand with this new venture.. acquisition question, I just wanted to follow up. Other key executives at Nucor Corp include In this new role, Chad will focus on our continued growth into new markets and integrating new businesses into the core operations of Nucor. he still owns at least 126,809 units of NUE stock. sale 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. Learn More on Leon J. Topalian's trading history. Topalian twins' 'MoMo' survival proves miraculous. Subscribe to our Daily Headlines newsletter. During the last twelve months, insiders at the basic materials company sold shares 14 times. Nucor and its affiliates are manufacturers of steel and steel products, with operating facilities in, . No stops in production. 1 True or False: The 2022 edition construction to provide a construction. "I want to thank John for his numerous contributions to Nucor. And as you may recall, original stated capacity for that mill, about 1.6 million tons. And in May, the State of West Virginia approved the air quality permit for our new sheet mill in Mason County. 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. Sign up for our newsletter to keep reading. So just a big shout-out to all of our downstream product groups. 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. Mr. Leon J. Topalian is 55 years old, born in 1968. The expansion will add about 1.4 million. So, you should expect good results from businesses like our insulated metal panel business as we grow that and as we drive efficiencies through that. Quick summary, all our primary steelmaking equipment has been purchased. I want to thank our 31,000 teammates for these fantastic results. 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. 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. It is difficult to recall everything we went through because now they are healthy and running around, Leon said. Nucor Corporation executives and other stock owners filed with the SEC: Strike the best investing opportunities on the market! as Pres, Chief Executive Officer & Director in Nucor Corporation. "I feel very privileged to take on this role at Nucor and thank the Board for its confidence in me," Topalian said. We achieved record second quarter earnings per share of $9.67 and record first half earnings of $17.30. And were really pleased with what that has brought to the market in terms of a rationality of pricing and much less volatility in the pricing and -- but supply and demand still governs the price of that, and we publish a price, but the market determines what it really is. Before I turn it over to Steve, I want to congratulate our 31,000 Nucor team members for a fantastic first half of the year. This became Kims goal. The operating business segments are: steel mills, steel products and raw materials, the steel mills segment derives maximum revenue. He also receives $1,670,000 All Rights Reserved. They sold a total of 106,839 shares worth more than $14,127,779.65. , GuruFocus.com is not operated by a broker or a dealer. Available to listen by 8:30pm ET / 5:30pm PT daily beginning September 30: https://www.cnbc.com/2020/09/29/the-news-with-shepard-smith-podcast.html?__source=youtube%7Cshepsmith%7CpodcastConnect with CNBC News OnlineGet the latest news: http://www.cnbc.com/Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBCFollow CNBC News on Facebook: https://cnb.cx/LikeCNBCFollow CNBC News on Twitter: https://cnb.cx/FollowCNBCFollow CNBC News on Instagram: https://cnb.cx/InstagramCNBChttps://www.cnbc.com/select/best-credit-cards/#CNBC#CNBCTV He previously served as President and Chief Operating Officer of Nucor beginning in September 2019. ASU student authors, illustrates superhero comic book. So I do want to state that, and well gauge that by the demand in the marketplace. 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. First question is just with respect to the plate and structural markets. Maybe just exploring a little bit more the outlook for the steel product business. 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 Before we get to our second quarter results, I want to highlight some changes weve made to our executive leadership team. John J. Ferriola retired at the end of 2019, and was succeeded by longtime Nucor executive Topalian as CEO and president from January 2020.[1]. Nucor has grown revenues by more than 13% per year from $83 million when we were first listed on the exchange in 1972 to last years record of $36.5 billion, even as the total size of the domestic industry has shrunk. 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. DRI benefited from elevated metallics pricing that we use to determine transaction values between segments. Strike.Market does not provide financial advice or recommendations. the Chair, President and CEO of Nucor Corp and owns about 128,107 shares of Nucor Corp (NUE) stock worth over $22 Million. I want to mention that we support swift passage of legislation to address semiconductor manufacturing and beneficial updates to our trade laws through legislation known as Leveling the Playing Field Act 2.0. 1) Design-oriented outcome: Design management involves design and management activities related to the quality of design outcomes, design delivery and/or design sale Over the last couple of years, thats improved markedly in 21, peaked at [Technical Difficulty] 90s. The shares were sold at an average price of $134.71, for a transaction totalling $404,130.00. We absolutely expect in the fourth quarter to run at really nameplate capacity. The largest trade he's ever made was exercising 47,581 units of NUE stock on 26 Mar 2021. of 13,387 shares made by Allen C Behr Leon J. Topalian: CEO Pay $11,618,019: Median Employee Pay $142,635: CEO Pay Ratio 81:1: Board of Directors in NUCOR CORP. 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