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. Hey Chad, one thing Ill add and just maybe a further point, Carlos, to share some of this. Please go ahead. 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. 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. Her impact on our teams across the enterprise contributed greatly to Nucors success and profitable growth. Cision Distribution 888-776-0942 John Hollatz was promoted to Executive Vice President of Bar, Engineered Bar and Rebar Fabrication. Executive Vice President Engineered Bar Products and Fabricated Construction Products, Chief Financial Officer, Treasurer & Executive Vice President. Next, well hear from Michael Leshock of KeyBanc Capital Markets. Turning to the outlook for the third quarter of 2022. These state-of-the-art features will increase Nucor Towers & Structures capabilities to provide engineered solutions for utility infrastructure and construction projects. And in fact, their performance in the quarter was stronger financially than the entire year of 2021. Im going -- sorry, Curt, was talking about West Virginia, which Ill hold that for a moment and share that here perhaps a little later to the question or a follow-up. Executive Vice President Noah C Hanners Couldnt be more excited about Dave Banger and his leadership team, the entire C.H.I. as Pres, Chief Executive Officer & Director in Nucor Corporation. 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). Sign up for our newsletter to keep reading. Mr. Topalian 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. In our steel mills segment, shipping volumes were up by 10%. 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.. On this Wikipedia the language links are at the top of the page across from the article title. So, its 60% higher than what we did in 2018. The operating business segments are: steel mills, steel products and raw materials, the steel mills segment derives maximum revenue. June 22, 2023, 2 p.m. CT: CEO Huddle with Karla R. Lewis, President and Chief Executive Officer, Reliance Steel & Aluminum Co. and Leon Topalian, Chairman, President and Chief Executive Officer, Nucor Corporation. Any color would be helpful. Overall, our steel products segment continues to benefit from strong nonresidential construction demand. 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. Thanks, Curt. 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? Leon J Topalian, Nucor Corp: Profile and Biography - Bloomberg Markets Bloomberg the Company & Its Products Bloomberg Connecting decision makers to a dynamic network of information,. Enter your email address below to get our daily insider buying and selling report. Hannibal Industries is in doing that. 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. 11 transactions in Nucor Corp (NUE) over the past 5 years, including 0 buys and 11 sells. But the overall market is still incredibly strong, and theres a lot to be optimistic about in that space. a net So, you have an opportunity -- or we have an opportunity to really grow that business with what we have today. Yes. Let me start off with our steel products businesses. Our team is focused on enhancing our capabilities, not simply adding capacity, and on delivering a differentiated value proposition for our customers by reliably and safely providing a broad offering of the most environmentally responsible steels and steel products found anywhere in the world. Fri, Dec 9 20227:06 PM EST. 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. 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 gurus listed in this website are not affiliated with GuruFocus.com, LLC. It was a very different experience from when we had Jonathan and Hannah, our older children.. sale And were not done. Over the years, weve developed a strong partnership with Nucor, and I look forward to seeing our relationship expand with this new venture.. Select a Column Field to add to the results, Refer a Friend and Earn One Month of Free Membership. Topalian SL, Hodi FS, Brahmer JR, Gettinger SN, Smith DC, McDermott DF, Powderly JD, Carvajal RD, Sosman JA, Atkins MB, Leming PD, Spigel DR, Antonia SJ, Horn L, Drake CG, Pardoll DM, Chen L, Sharfman . The total. This chart shows Leon J Topalian's buying and selling at Nucor by year and by quarter. Thanks, Curt. Our people are our strength in Morgan County, said state Sen. Arthur Orr, who serves as chairman of the Morgan County Economic Development Association. Nucor can also be reached via phone at (704) 366-7000 and via email at [email protected]. Quick summary, all our primary steelmaking equipment has been purchased. 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 Enjoy a 7-Day Free Trial Thru Mar 09, 2023! You can help Wikipedia by expanding it. While joist and deck shipments were down from the first quarter, higher prices more than offset the decline in volumes. 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. of "I want to thank John for his numerous contributions to Nucor. If you have an ad-blocker enabled you may be blocked from proceeding. One was to kind of probe what was discussed earlier on Gallatin a little bit more. Topalian will take over as CEO on Jan. 1. My first question is just around the infrastructure package that should start to really accelerate in 2023. So, now that the outage is complete, equipment is installed, our run rate will ramp up, and were putting the equipment through its paces. The corporate mailing address for Mr. Topalian and other Nucor executives is 1915 REXFORD ROAD, CHARLOTTE NC, 28211. Nucor Corporation was incorporated in 1958 and is based in Charlotte, North Carolina. More information about the risks and uncertainties relating to these forward-looking statements may be found in Nucors latest 10-K and subsequently filed 10-Qs, which are available on the SECs and Nucors website. 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. And it mentioned that the Company also produces carbon and alloy steel. The estimated net worth of Leon J. Topalian is at least $21.65 million as of December 20th, 2022. Ill speak first -- well speak about the first half of the year. The girls were sent home on apnea monitors to alert the family if they stopped breathing. Match case Limit results 1 per page. Remember to Order Ahead (681)-265-9368 CALL IN ORDERS. So, service centers is a big product segment. Mr. Kearney founded Eagle Marsh Holdings, LLC in 2016 and has served as its managing partner since inception. All Rights Reserved. Our utilization remains right where wed expect it. In the face of these discouraging statistics, Kim turned to her friends, her family, and her faith for support. This is Steve. Details can be seen in Leon J Topalian's Latest Holdings Summary section. Yes. We are roughly operating at about 60% total utilization in -- with C.H.I. And in some of our businesses, our backlogs are still at record levels. Weve awarded our significant portions of civil and concrete work. Nonresidential construction has been one of our most resilient markets across the enterprise, and we would expect that continues in 2023. Thanks a lot. 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. Strike.Market does not provide financial advice or recommendations. 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. At this time, there are no further questions. 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. We are grateful for the excellent job they do for employers like Nucor and others across the area.. Truck and railcar availability remains a bit challenged and probably slowed up a few tons. 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 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 126,809 shares of Nucor stock worth more than $21,651,369 as of March 1st. If we just look, for example, at the warehousing space, forecast by Dodge for 2023 is down about 19%. First thing, I want to acknowledge the great work that the mills in our raw materials group has done over the last six months, tremendous flexibility and execution to react to the changes in the supply chain. In this new role, Chad will focus on our continued growth into new markets and integrating new businesses into the core operations of Nucor. We are excited to launch our expansion of this new Nucor business in the State of Alabama.. Learn More on Leon J. Topalian's contact information. Regarding the C.H.I. That segment produced $1.1 billion in operating profits for the quarter. 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. 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 then, my follow-up is just on the steel mill side. A big-screen adaptation of the 1988 novel by Thomas Harris, the film quickly grew from an unexpected blockbuster to an awards season juggernaut, nabbing Oscars for Best Picture, Best Director, Best. 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. All equipment is being commissioned at this point. "This is a critical time for the American steel industry," Topalian says. For the year, we expect earnings per share will establish a new annual record for Nucor. These orders are critical to market stability and industry performance and are an important part of our governments trade enforcement toolkit. Thu, Jan 26 20236:56 PM EST. My No. It was a shock, especially the twin part. While this is a positive development, unfairly traded imports remain a concern for our industry. and Thank you. Is there any sort of renewed or early signs of renewed appetite to reengage here? 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. He died Wednesday. Please subscribe to keep reading. Joseph Company, also brokers ferrous and nonferrous metals, pig iron and hot, ; and processes ferrous and nonferrous scrap. The ITC is conducting several more five-year sunset reviews this year off key trade orders on flat-rolled products. Cramer spoke with Nucor CEO Leon Topalian on Friday. The largest of these is our West Virginia sheet mill. Seth, thanks for the question. Yes, Timna. The largest trade he's ever made was exercising 47,581 units of NUE stock on 26 Mar 2021. of 10,962 shares made by Kenneth Rex Query As part of this reorganization, Chad Utermark has been appointed to the newly created role of Executive Vice President of New Markets and Innovation. 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, No stops in production. Leon J. Topalian is President, Chief Executive Officer & Director at Nucor Corp. So, we still see that nonres construction space that is the driver for these businesses, as Al mentioned earlier, to be very strong. Our joist and deck business continued to be the largest contributor to the segments performance. Our record first half results continue the history of delivering new highs in profitability and cash flow through successive economic and steel market cycles, demonstrating the sustainability and adaptability of Nucors business model. Leon J. Topalian is the Pres, CEO & Director at Nucor. Marjorie Matthews died aged 90 on February 8 after a battle with cancer. We hope this strike an arc, as a matter of fact, on the hot side even yet in the next literally day or two. Absolutely. 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. That will happen during the third quarter. Our direct returns to shareholders for the quarter was 37% of earnings. Her impact on our teams across the enterprise contributed greatly to Nucors success and profitable growth. 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