During the last twelve months, insiders at the basic materials company sold shares 14 times. Our direct returns to shareholders for the quarter was 37% of earnings. Thank you. 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). I wanted to ask two questions. Explore the city's history and join us for an exclusive event at the Smithsonian's National Museum of African American History and Culture. We look forward to working with them to make sure this venture is successful, said Long. 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. Our local economic development office along with its numerous partners continue to work hard to bring new industries and quality jobs to Decatur. Thank you. 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. So, service centers is a big product segment. . He also receives $1,670,000 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. 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. So, we see a little bit probably leveling of pig prices through the third quarter declining into the fourth quarter. And you asked about 2023. sale sale Details can be seen in Leon J Topalian's Latest Holdings Summary section. Can you explain what would drive that given the weaker scrap and pig iron prices that were seeing in the spot market Q-over-Q? 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. Mr Topalian owns over 3,000 units of Nucor stock worth over $20,706,642 and over the last 6 years he sold NUE stock worth over $9,685,670. 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. "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. You noticed somewhat soft utilization rates for those verticals this year, yet pricing is holding up extremely well and basically close to record metal spread today. We have also grown our workforce from 1,800 team members back in 1972 to more than 31,000 team members today and in the process created a huge amount of shareholder value. Our utilization in Q2 was improved from Q1. About NucorNucor and its affiliates are manufacturers of steel and steel products, with operating facilities in the United States, Canada and Mexico. They sold a total of 106,839 shares worth more than $14,127,779.65. The companys capital investment in Decatur includes land improvements, construction of a new building and manufacturing equipment. Topalian attributes. Nucor, which already has a significant presence in Alabama, has committed to creating 200 full-time jobs at the facility in Decatur. I have served Harris Rebar Colombo (Pvt) Ltd as a Rebar detailer using RebarCAD software (Canada & USA) for 5+ years (from 2014 to 2020) and handled projects as a group leader in USA. The largest of these is our West Virginia sheet mill. Nucor CEO Leon Topalian says the American steel industry can handle any increased demand rising from passage of an infrastructure bill in Congress. Groundbreaking for the project will happen later this year. You can cancel at any time. So, were doing a full thickness slab now in a new slab, 130-millimeter. We remain confident that with the capital we retain and deploy, we are building a more resilient, more profitable or more cash-generative Nucor. As the Pres and CEO & Director of Nucor, the total compensation of Mr Topalian at Nucor is $5,953,180. We said, Lord, if you allow us to have these babies, what a miracle it will be.. So, having C.H.I. The operations include international trading and sales companies that buy and sell steel and steel products manufactured by the company and others. Transaction Summary of Leon J Topalian The expansion will add about 1.4 million. Nucor is working hard to ensure that they all remain in place. We want the transfer price to reflect the market price into the steel mills, so that will reflect in those segment reporting. This situation places the babies at high risk for their umbilical cords to become entangled which could result in cord compression and possible fetal demise. Leon J. Topalian is President, Chief Executive Officer & Director at Nucor Corp. 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? And it mentioned that the Company also produces carbon and alloy steel. I want to thank our 31,000 teammates for these fantastic results. 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. Yes. As insider, Mr. Leon J. Topalian owns shares in one company: Nucor Corporation manufactures and sells steel and steel products. He died Wednesday. Both infants were placed on a continuous positive airway pressure machine at birth to provide oxygen. And in fact, their performance in the quarter was stronger financially than the entire year of 2021. And perhaps what are the categories that are taking some of the early wins there? We look forward to rapidly scaling up their operations as we continue to broaden our portfolio of construction market solutions. 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. 1 dividend stock for a LIFETIME of income. $4 million awarded to support early childhood education. The estimated net worth of Leon J Topalian is at least $22 Million dollars as of 2023-02-02. Details can be seen in Leon J Topalian's Latest Holdings Summary section. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. I think the underlying demand, the consumable spending appetite in this country still remains fairly high. And in May, the State of West Virginia approved the air quality permit for our new sheet mill in Mason County. Mr. Topalian has been President and Chief Executive Officer of Nucor and a member of its Board of Directors since 2020. One of the finest books about Catholic social teaching The real social teachings of the Church developed over centuries by a long line of popes saints and approved . Nucor, which already has a significant presence in Alabama, has committed to creating 200 full-time jobs at the facility in Decatur. And how deep is your pipeline of potential targets right now? Remember to Order Ahead (681)-265-9368 CALL IN ORDERS. 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. 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. a net DRI benefited from elevated metallics pricing that we use to determine transaction values between segments. "These changes reflect the thoughtful, planned transition of leadership at Nucor.". Education and Research (BMBF), Germany Non-industry 119 11,409 95.9 104 28 Journal of Clinical Oncology (14), Blood (10), Diabetes Care (9) . And how do you see working capital evolving in the coming quarters? Learn More on Leon J. Topalian's contact information. Thanks, Leon. 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, 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). And youd asked about working capital. Fundamental company data provided by Morningstar, updated daily. 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. They remain a bit cautious with their buys. Learn More about insider trades at Nucor. What is the composition of these basically stable operating results? The corporate mailing address for Mr. Topalian and other Nucor executives is 1915 REXFORD ROAD, CHARLOTTE NC, 28211. Mr. Kearney was also director of Polypore International, Inc. from 2012 to 2015. That does conclude todays conference. a net 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. side will be mostly organic growth from here. The Topalian family could now bring home their two newest additions. stock. Thanks, Emily. Section 2.2 as "other steel, iron, or. Since the COVID-19 pandemic first disrupted our lives more than two years ago, it has become clear that the U.S. needs strong, resilient domestic supply chains for all sorts of critical materials, such as semiconductors made by great American companies. Overhead Doors in June. acquisition, look, in our minds, we acquired the very best company out there in that space, period, bar none. Were proud of them already. So, its 60% higher than what we did in 2018. While those are real, the driving demand factors in our businesses, for the most part, remain very healthy. 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. On Day One upon becoming Nucor's CEO, I let our 30,000 teammates know. Leon Topalian Good afternoon and welcome to our second quarter earnings call. 3,000 shares on December 20, 2022, which from 8 AM - 9 PM ET. Year-to-date, it is 43%. Timna, where we see, maybe a little more color. Contributions from tubular products and metal buildings were aided by both, higher volumes and higher pricing during the quarter. Before we get to our second quarter results, I want to highlight some changes weve made to our executive leadership team. And automotive is a good example. Please note GuruFocus will not track the insiders transaction performance if he/she does not have buying transactions. 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. Weve certainly been seeing a little bit more of a buyer strike type of activity from -- on the customers and as it relates to sort of hot-rolled. And the third, our new state-of-the-art plate mill in Brandenburg, Kentucky is anticipated to start at the end of the year. Leon Topalian is CEO of Nucor Corp. 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. That segment produced $1.1 billion in operating profits for the quarter. Thank you for your interest in Nucor. I look forward to working closely with Chris and the rest of Board to continue to build on Nucor's success.". It also engages in the steel trading and rebar distribution businesses. And well be ramping up here third quarter. It was a shock, especially the twin part. 1) Design-oriented outcome: Design management involves design and management activities related to the quality of design outcomes, design delivery and/or design Working capital is obviously going to vary where you believe steel pricing is going to go across our system. And heres why. Leon Topalian best website builder Nucor has introduced Elcyon, the company's new sustainable heavy gauge steel plate product made specifically to meet the growing demands of America's . 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. And congrats on the exceptional quarter. So just wondering if you have any updated comments there. This chart shows Leon J Topalian's buying and selling at Nucor by year and by quarter. This net worth estimate does not reflect any other investments that Mr. Topalian may own. The estimated net worth of Leon J Topalian is at least $22 Million dollars as of 2023-03-02. 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. 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 . Id just like to congratulate our entire team again for a record first half of the year. Turning to the outlook for the third quarter of 2022. All rights reserved. For opening remarks and introductions, I would like to turn the call over to Leon Topalian, President and Chief Executive Officer of Nucor Corporation. And Id say thats just not chasing the cheap tons. My first question is just around the infrastructure package that should start to really accelerate in 2023. Please subscribe to keep reading. Our July 12, 1972, news release announcing the listing gave our firms business description as "The nations largest producer of steel joists." Is this happening to you frequently? 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. 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. Selling at Nucor. `` Details can be seen in Leon J Topalian is at least $ million! Capital evolving in the spot market Q-over-Q becoming Nucor & # x27 ; s Latest Holdings section... Worth more than $ 14,127,779.65 we see a little bit probably leveling of pig prices through the quarter! 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