John J. Ferriola retired at the end of 2019, and was succeeded by longtime Nucor executive Topalian as CEO and president from January 2020. 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. And Q2, we saw much of the same. With MaryEmilys retirement, Dan Needham has assumed the role of EVP of Commercial. Its delivering uncompromising results in every area of our business and doing that while maintaining the safety, health and wellbeing of our team. Specifically to your question on structural and plate, Ill let Al Behr, our EVP of Plate and Structural, touch on it. So, that was how we handled that, took care of customers through supply from other mills. Year-to-date, it is 43%. We will continue to work hard to earn that business well into the future. ever made was exercising 47,581 units of NUE stock And so the Live the Culture piece is easy. Mr. Kearney was also director of Polypore International, Inc. from 2012 to 2015. Its in supply chain and some of those constraints. Leon J. Topalian is President, Chief Executive Officer & Director at Nucor Corp. This chart shows Leon J Topalian's buying and selling at Nucor by year and by quarter. Fundamental company data provided by Morningstar, updated daily. 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. When typing in this field, a list of search results will appear and be automatically updated as you type. 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. Is it possible to get an update on how you see CapEx for the remainder of the year, maybe first look at 2023? In addition, he makes $5,953,180 as Pres and CEO & Director at Nucor. So, were doing a full thickness slab now in a new slab, 130-millimeter. He served as Executive Vice President of Beam and Plate Products from 2017 to 2019. Although Nucor believes they are based on reasonable assumptions, there can be no assurance that future events will not affect their accuracy. These state-of-the-art features will increase Nucor Towers & Structures capabilities to provide engineered solutions for utility infrastructure and construction projects. Next, well hear from Michael Leshock of KeyBanc Capital Markets. Yes. GuruFocus.com is not operated by a broker or a dealer. And then, Steve, if you would, on the CapEx? Our utilization in Q2 was improved from Q1. 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. 200 units of NUE stock worth $26,947 on 20 Dec 2022. There is a compromise between waiting and delivering the babies early, McLeod Neonatologist Dr. Steve Bridges said. 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]. Let me start off with our steel products businesses. He appears on "Balance of Power." Watch or read the transcript below. Before we get to our second quarter results, I want to highlight some changes weve made to our executive leadership team. The corporate mailing address for Mr. Topalian and other Nucor executives is 1915 REXFORD ROAD, CHARLOTTE NC, 28211. This is Steve. acquisition, look, in our minds, we acquired the very best company out there in that space, period, bar none. On Day One upon becoming Nucor's CEO, I let our 30,000 teammates know. Contributions from tubular products and metal buildings were aided by both, higher volumes and higher pricing during the quarter. 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 Overhead Doors and announced two acquisitions that will lead to the establishment of Nucor Towers and Structures, which will serve the utility, transportation and telecommunications sectors. We absolutely expect in the fourth quarter to run at really nameplate capacity. Both Ray Long, chairman of the Morgan County Commission, and Decatur Mayor Tab Bowling said they are excited by the job opportunities being created by Nucors investment project. And how do you see working capital evolving in the coming quarters? 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. Any color would be helpful. 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. My first question is just around the infrastructure package that should start to really accelerate in 2023. So pretty excited about it. $4 million awarded to support early childhood education. The largest trade he's ever made was exercising 47,581 units of NUE stock on 26 Mar 2021. Leon Topalian is an American businessman and the president and CEO of Nucor since January 2020. 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. I want to thank each and every member of the Nucor family for your focus and dedication in ensuring every team member is safe. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. Prior to that time, he held various leadership positions at Nucor,. Get notified the next time Leon J. Topalian buys or sells Nucor stock. Speakers include: Reliance's Karla Lewis and Nucor's Leon Topalian on diversity, equity, and inclusion The Honorable Paul Ryan former speaker of the U.S. House of Representatives, It also engages in the steel trading and rebar distribution businesses. So, having C.H.I. And were excited about the rest of this year and were excited, frankly, about 2023. But how are market participants acting now? 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. Learn More on Nucor's active insiders. We look forward to working with them to make sure this venture is successful, said Long. Look, I think so. Name Total COMPENSATION; Christopher J. Kearney: Chad Utermark, who was over our EVP of our Products Group and now moving into New Markets. We are excited to launch our expansion of this new Nucor business in the State of Alabama.. He previously served as President and Chief Operating Officer of Nucor beginning in September 2019. This investment adviser does not provide advice to individual investors. And youd asked about working capital. I think it will get richer as we move forward. (renews at {{format_dollars}}{{start_price}}{{format_cents}}/month + tax). How do you see margins? But its certainly not without looking as well as some of the headwinds that are coming from an economy standpoint in the marketplace of interest rates and inflation. Our team has done a wonderful job there navigating the challenges that that project has faced over a couple of years, and we sit ready for a start-up by the end of the year. "Nucor CEO to retire, and his successor comes from inside the steel company", https://en.wikipedia.org/w/index.php?title=Leon_Topalian&oldid=1055515771, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 16 November 2021, at 09:04. Il s'agit d'un socit dont la forme juridique est Le code d'activit . But again, the consumptive side, really, really strong. Nucor facilities in Alabama produce steel, tubular products, joists and decking and metal buildings, with locations in Birmingham, Tuscaloosa, Fort Payne, Eufaula and Decatur. Leon Topalian presided over a record-shattering year at Nucor Corp. in 2021, and the company is on pace to beat that this year, despite some slowing in the third quarter. And we remain really excited about the opportunities in structural as we talk to fabricators and we talk to the what I call the consumptive demand part of the market, the folks that are buying our steel and making something out of it is still really strong. But, how much early demand are you seeing that -- from that materialize this year? What does that mean for your cost of inventory today? Marjorie Matthews died aged 90 on February 8 after a battle with cancer. From market futures to live price updates CNBC is the leader in business news worldwide. 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. This became Kims goal. Leon J. Topalian is President, Chief Executive Officer & Director at Nucor Corp. Mr. Kearney was also director of Polypore International, Inc. from 2012 to 2015. That makes sense. Education and Research (BMBF), Germany Non-industry 119 11,409 95.9 104 28 Journal of Clinical Oncology (14), Blood (10), Diabetes Care (9) . As insider, Mr. Leon J. Topalian owns shares in one company: Nucor Corporation manufactures and sells steel and steel products. And so, Ill give you that same outlook from what we said today. But, were not seeing any real movement in terms of material orders. 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. We really think that will start in earnest in early 23 and really begin to progress throughout the year 2023. Thanks. 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. We continue to want to be great stewards and great shepherds to return that valuable shareholder capital. 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. a net It is a true vote of confidence in our community when an existing business decides to further expand its operations here. I look forward to working closely with Chris and the rest of Board to continue to build on Nucor's success.". Since entering the steel business, we have focused on growing long-term earnings power and shareholder value. sale But as we start to put the mill through its paces, well go wider and wider. But why dont you just touch on that a little bit and share where were at with Brandenburg as well. Thanks, Curt. So, service centers is a big product segment. 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. Currently I. Seth, thanks for the question. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. Again, fabricators are a big part of that plate business. Our energy cost per ton of steel produced was up approximately 50% year-over-year. 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. revision of the 2016 edition. And while thats the forecast and its easy to say that, I truly believe that. We also remain committed to our regular quarterly dividend, something Nucor has paid and grown consistently over the last half century. 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. On this Wikipedia the language links are at the top of the page across from the article title. Nucor is North America's largest recycler. And Id say thats just not chasing the cheap tons. Latest: Nucor to Add Melt Ship at Kingman Bar Mill You can cancel at any time. As part of this reorganization, Chad Utermark has been appointed to the newly created role of Executive Vice President of New Markets and Innovation. 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. 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. basket. Ferriola has been Nucor's chief executive since 2013. 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. Thank you. ( View post) Feb 23. Leon J Topalian is We really had to struggle with that fear and we finally just had to let it go, she said tearing up. Remember to Order Ahead (681)-265-9368 CALL IN ORDERS. But how much of Gallatin was in the second quarter? Over his 23-year Nucor career, he has served in our Joist and Deck, Building Systems and Flat-rolled businesses. We want the transfer price to reflect the market price into the steel mills, so that will reflect in those segment reporting. We typically run at utilization 60%, 70% and hold that leadership position. [1] References [ edit] ^ Henderson, Bruce (6 September 2019). The nurses already knew who we were, Leon said. ASU student authors, illustrates superhero comic book. 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. 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.. As Leon mentioned, we have multiple businesses from joist and deck, rebar fab, steel piling, racking, tubing, insulated panel, grading. Our local economic development office along with its numerous partners continue to work hard to bring new industries and quality jobs to Decatur. 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. But as Chad mentioned, and I think its an incredibly important part, our industry is shifted and it shifted substantially through reconciliations, through consolidation and through trade. 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. 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. 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