sale Our direct returns to shareholders for the quarter was 37% of earnings. As far as the DRI, we adjust our DRI transfer price monthly. But for Gallatin, completed our second quarter outage. Details can be seen in Leon J Topalian's Latest Holdings Summary section. What does that mean for your cost of inventory today? 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. And in May, the State of West Virginia approved the air quality permit for our new sheet mill in Mason County. Over his 23-year Nucor career, he has served in our Joist and Deck, Building Systems and Flat-rolled businesses. And so, again, there are some things I think that will begin to loosen up and break loose in the back half of this year and well into 23 that will help in addition to the infrastructure, like getting a bit more caught off on the chips and as Al mentioned, the offshore wind. The largest trade he's ever made was exercising 47,581 units of NUE stock on 26 Mar 2021. The sentiment around that part of the market is perhaps, I would say more pessimistic than what the reality is. 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. At this time, there are no further questions. Executive Vice President John J Hollatz 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. 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. Learn More on Leon J. Topalian's trading history. Mr. Leon J. Topalian has made 14 insider trades between 2017-2022, according to the Form 4 filled with the SEC. This segment also engages in the piling distribution business. With MaryEmilys retirement, Dan Needham has assumed the role of EVP of Commercial. Is it prices offsetting -- sorry, the volumes offsetting prices, the other way around? This segment sells its products to steel service centers, fabricators, and manufacturers in the United States, Canada, and Mexico. We are very excited to be building this new tower production plant in Alabama, where Nucor has a long history and presence throughout the state, said Leon Topalian, Chair, President and CEO of Nucor Corp. As Americas most diverse industrial manufacturer of steel products, we will be able to efficiently supply this new plant, helping to ensure that our nations critical energy and digital infrastructure is built with the cleanest, most sustainable steel in the world.. It has an affiliated registered investment adviser, which serves as the subadviser to an exchange traded fund. You asked about capital for the remainder of the year. Mr Topalian is 53, he's been the Pres and CEO & Director of Nucor since . Please go ahead, sir. After 29 years of research in cancer immunotherapy, Dr. Suzanne Topalian has been acknowledged as one of "Ten People Who Mattered This Year" in the December 2014 issue of Nature for her pioneering research on programmed cell death protein-1 (PD-1) inhibitors. The new plant will be located adjacent to the Nucor Steel Decatur sheet steel mill. Leon Topalian is CEO of Nucor Corp. 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). Click Here for Your Free Ultimate Dividend Package. Thank you. Mike, thank you for the question. And then, if I may squeeze another one. So, with regard to Gallatin, if I look at your sheet tons, youre running -- run rate less than a year ago levels. [Operator Instructions] Well now hear from Timna Tanners of Wolfe Research. On Day One upon becoming Nucor's CEO, I let our 30,000 teammates know. On average, Mr trades about 6,725 units every 79 days since 2017. Thanks. As of 20 December 2022 he still owns at least 126,809 units of Nucor stock. 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. They sold a total of 106,839 shares worth more than $14,127,779.65. We spent about $1 billion so far. All Rights Reserved. Good day, everyone, and welcome to the Nucor Corporation Second Quarter of 2022 Earnings Call. We get some questions or Ive got some questions over the last weeks, months what -- why are you so optimistic in the face of inflation and interest rates. of 171,494 shares. So, our opportunity really isnt to move or look for other large garage door companies. I look forward to working closely with Chris and the rest of Board to continue to build on Nucor's success.". 1 dividend stock for a LIFETIME of income. 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. Leon J. Topalian is President, Chief Executive Officer & Director at Nucor Corp. more than 21 years with Nucor. We came through so much, but they are here because of answered prayers.. This investment adviser does not provide advice to individual investors. And as you may recall, original stated capacity for that mill, about 1.6 million tons. Thanks, Curt. But well gauge that to what the market is doing off of that. Leon J Topalian around $404,130. What can you expect going forward, even out past third quarter and into the future? And perhaps what are the categories that are taking some of the early wins there? And the other was to ask about follow-up to the garage door acquisition. ICYMI: Leon Topalian, Nucor Corporation CEO and Chairman of AISI discussed WTO's ruling against U.S. steel tariffs on CNBC's Mad Money: Mihai Pirlog Jerry Inzerillo, GCEO at #DGDA, came forward to congratulate and honor the sales center team that completed their training program in the history Nucor Corp manufactures steel and steel products. 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. 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 . Yes. 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. 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]. So just a big shout-out to all of our downstream product groups. If we just look, for example, at the warehousing space, forecast by Dodge for 2023 is down about 19%. Leon J Topalian made The company's Raw Materials segment produces direct reduced iron (DRI); brokers ferrous and nonferrous metals, pig iron, hot briquetted iron, and DRI; supplies ferro-alloys; and processes ferrous and nonferrous scrap metal, as well as engages in the natural gas drilling operations. I look forward to working closely with Chris and the rest of Board to continue to build on Nucor's success.". According to the SEC Form 4 filings, Leon J Topalian has made a total of Learn More on Nucor's active insiders. That -- the new equipment, were capable of 73.5 inches. It was a very different experience from when we had Jonathan and Hannah, our older children.. There are 1 executives at Nucor getting paid more, with James Frias having the highest compensation of $6,145,810. 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. 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. And next, well hear from Seth Rosenfeld of BNP Paribas. Cision Distribution 888-776-0942 Describe your leadership style and how you put it into action within your organization. The estimated net worth of Leon J. Topalian is at least $21.65 million as of December 20th, 2022. Next, well hear from Carlos De Alba of Morgan Stanley. 3,000 shares on December 20, 2022, which And as a result of that, we see a stable input cost to DRI with a still elevated pig price or transfer price into the third quarter and then dropping pretty significantly into the fourth quarter. You can help Wikipedia by expanding it. Hey. Other key executives at Nucor Corp include Over the last couple of years, thats improved markedly in 21, peaked at [Technical Difficulty] 90s. And Steve, do you want to touch on sort of our CapEx for the balance of the year and how were looking? Prior to that time, he held various leadership positions at Nucor,. basket. The quarters earnings of $9.67 per diluted share exceeded our prior quarterly record of $7.97 per share by more than 20%. Since entering the steel business, we have focused on growing long-term earnings power and shareholder value. 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. As Leon mentioned, first quarter of 2022 earnings of $7.67 per share establishes a new first quarter record, more than doubling the prior record of $3.10 set last year in the first quarter. It sounds like the C.H.I. Next, well hear from Emily Chieng of Goldman Sachs. So pretty excited about it. The News with Shepard Smith is CNBCs daily news podcast providing deep, non-partisan coverage and perspective on the days most important stories. What is the salary of Mr Topalian? "I want to thank John for his numerous contributions to Nucor. CFO & Treasurer and EVP Stephen D Laxton Fundamental company data provided by Morningstar, updated daily. Its in supply chain and some of those constraints. The road to this prestigious accomplishment began with a two-year fellowship at the NIH National Cancer Institute in Bethesda, MD . And again, well have the capability. Nucor can also be reached via phone at (704) 366-7000 and via email at paul.donnelly@nucor.com. Our metal margins decreased by about 5% from the first quarters $941 per ton to a still robust $895 per ton. 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. Leon Topalian Good afternoon and welcome to our second quarter earnings call. 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. Executive Vice President Engineered Bar Products and Fabricated Construction Products, Chief Financial Officer, Treasurer & Executive Vice President. The company was founded by Ransom E. Olds in 1905 and is headquartered in Charlotte, NC. I want to thank our 31,000 teammates for these fantastic results. The Topalians were also told they could expect a 50 percent survival rate. Is it possible to get an update on how you see CapEx for the remainder of the year, maybe first look at 2023? When typing in this field, a list of search results will appear and be automatically updated as you type. 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. We remain confident that with the capital we retain and deploy, we are building a more resilient, more profitable or more cash-generative Nucor. Leon J. Topalian is the Pres, CEO & Director at Nucor. CHARLOTTE, N.C., Feb. 22, 2023 /PRNewswire/ -- Nucor Corporation (NYSE: NUE) announced today that the Company's Towers & Structures business unit will build a new state-of-the-art transmission tower production plant in Decatur, Alabama.The new plant will be located adjacent to the Nucor Steel Decatur sheet steel mill and will be the first of two new tower production plants the Company plans to . 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. We achieved record second quarter earnings per share of $9.67 and record first half earnings of $17.30. There are 17 older and 3 younger executives at Nucor. Lets continue our progress towards delivering the safest, cleanest and most profitable year in Nucors history. 11 transactions in Nucor Corp (NUE) over the past 5 years, including 0 buys and 11 sells. 1) Design-oriented outcome: Design management involves design and management activities related to the quality of design outcomes, design delivery and/or design 6:10 After spending three weeks in the NICU, the girls were eating and breathing well on their own. Some of the changes in the energy commodity pricing seen in the marketplace overall over the past year were mitigated by Nucors fiscal and financial hedges that we had in place. So, our utilization may have ticked down just slightly in the structural side. Subscribe to our Daily Headlines newsletter. Leon J Topalian is the Executive Vice President of Nucor Corp. As of 20 Dec 2022 And again, if we look at our most recent order books, sheets strong. Nucor is North America's largest recycler. He appears on "Balance of Power." Watch or read the transcript below. And then secondly, from the raw materials side, I think your guidance includes higher DRI price realizations in Q3. We wanted two more children and the fact that God gave us two at one time was a real blessing.. And were incredibly proud of our team and achieving an incredible quarter, an incredible first half of the year at over $17 per diluted share. Learn More on Leon J. Topalian's trading history. 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. 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? You probably know better than we do. On this Wikipedia the language links are at the top of the page across from the article title. Finally, todays headlines are full of concerns regarding inflation, interest rate hikes and whether well experience a recession. Our highest priority is deployment of capital in our businesses to create long-term value. As Leon mentioned, we have multiple businesses from joist and deck, rebar fab, steel piling, racking, tubing, insulated panel, grading. Also during the second quarter, we completed our purchase of C.H.I. Today, Expand Beyond is a disciplined strategy for profitable growth and value creation, just as our expansion into steelmaking was 50 years ago. Sold (or bought if negative) in USD Topalian Leon J HALL LADD R DARSEY JAM. Theres no overhang or buildup of pigs. "I feel very privileged to take on this role at Nucor and thank the Board for its confidence in me," Topalian said. I mentioned infrastructure starting to produce better strength. Yes. ( View post) Feb 23. Gurus may be added or dropped from the GuruFocus site at any time. of 57,932 shares. Regarding the C.H.I. Pepperoni Grill. "I feel very privileged to take on this role at Nucor and thank the Board for its confidence in me," Topalian said. as Pres, Chief Executive Officer & Director in Nucor Corporation. Learn More on Leon J. Topalian's contact information. 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. Our utilization in Q2 was improved from Q1. Thank you for your interest in our company. Nucor CEO Leon Topalian on Q3 earnings and the company's outlook 2,450 views Oct 21, 2021 Leon Topalian, Nucor president and CEO, joins 'Squawk on the Street' to discuss Nucor's Q3 earnings. 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. 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. Please note GuruFocus will not track the insiders transaction performance if he/she does not have buying transactions. It was around this time that Kim discovered she was pregnant. Thank you for your interest in Nucor. , The estimated net worth of Leon J Topalian is at least $22 Million dollars as of 2023-02-02. 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. 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