You may now disconnect. Nucor, which already has a significant presence in Alabama, has committed to creating 200 full-time jobs at the facility in Decatur. Subscribe to our Daily Headlines newsletter. From market futures to live price updates CNBC is the leader in business news worldwide. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The estimated net worth of Leon J Topalian is at least $22 Million dollars as of 2023-03-02. Nucor and its affiliates are manufacturers of steel and steel products, with operating facilities in the United States, Canada and Mexico. For the year, we expect earnings per share will establish a new annual record for Nucor. And most of that 60% is concentrated sort of that mid-USA levels. Immatriculation. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. The largest trade he's ever made was exercising 47,581 units of NUE stock on 26 Mar 2021. "I feel very privileged to take on this role at Nucor and thank the Board for its confidence in me," Topalian said. And next, well hear from Seth Rosenfeld of BNP Paribas. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. The election and announcement took place at AISI's board of directors meeting held at AISI headquarters, as well as virtually. 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. Our utilization remains right where wed expect it. 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. Quick summary, all our primary steelmaking equipment has been purchased. The "King Of Quants" sees 10X potential Eric Fry believes he just discovered America's next "Wealth Supercluster" and it's forming in the place you'd least expect. , Over his 23-year Nucor career, he has served in our Joist and Deck, Building Systems and Flat-rolled businesses. The expansion will add about 1.4 million. 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 is North America's largest recycler. This Expand Beyond piece over the last 2.5 years driven really by Steve Laxton before he became CFO and Alex Hoffman is really about finding those companies that provide a differentiated value proposition and moving us sort of that one standard deviation outside of the normal and traditional steelmaking lane that have direct steel adjacency, but like C.H.I. side will be mostly organic growth from here. Leon Topalian Good afternoon and welcome to our second quarter earnings call. So the pipeline is rich. Gurus may be added or dropped from the GuruFocus site at any time. 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. 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 . ( View post) Feb 23. So, that was how we handled that, took care of customers through supply from other mills. And the third, our new state-of-the-art plate mill in Brandenburg, Kentucky is anticipated to start at the end of the year. North Kingstown, Rhode Island, United States Food Server Carrabba's Italian Grill Apr 2018 - Jan 20212 years 10 months Warwick, Rhode Island, United States Education Endicott College Bachelor's. We also remain committed to our regular quarterly dividend, something Nucor has paid and grown consistently over the last half century. a net The guidance seems to suggest that it should be relatively in line with the second quarter. Explore the city's history and join us for an exclusive event at the Smithsonian's National Museum of African American History and Culture. But again, the consumptive side, really, really strong. What weve seen today would be very little through the cycle of the overall volume, but Ill let Rex touch more on that. 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. I wanted to ask two questions. Yes. This month, we are celebrating 50 years since Nucor was listed on the New York Stock Exchange. And for every downturn, Nucor has gotten stronger and continue to invest that our cash flow position, the profits were generating today put Nucor in an ideal position to continue to be very deliberate and very strategic with long-term goals to enhance our shareholder value. Although Nucor believes they are based on reasonable assumptions, there can be no assurance that future events will not affect their accuracy. Great. Cramer interviewed Nucor CEO Leon Topalian on Thursday. 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. And thinking about the longer term, with balance sheet strength and product diversity that is unparalleled in our industry, coupled with our highly variable and adaptive business model, we remain confident that Nucor is well positioned to deliver on our commitments to our team, our customers and our shareholders over time. 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. And with the acquisition of Summit Utility Structures and Sovereign Steel Manufacturing, weve established Nucor Towers and Structures. This investment project is a win for Nucor, Decatur and all of Alabama.. Mr. Leon J. Topalian salary is $5,950,000 per year Learn More about Leon J. Topalian's net worth. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. "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. Nucor Corp (NUE)'s detailed insider trading history can be found in Insider Trading Tracker table. We spent about $1 billion so far. Yes, similar to what we had in the script, we expect Q3 earnings to be very similar to the record-breaking results that we had in Q2. Leon J. Topalian is President, Chief Executive Officer & Director at Nucor Corp. And automotive is a good example. Were proud to call them Nucor team members, and the growth that theyre going to bring in the coming years is something incredibly exciting for us. $4 million awarded to support early childhood education. It was a shock, especially the twin part. Information on this page was last updated on 2/3/2023. 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. 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. Mr. Kearney was also director of Polypore International, Inc. from 2012 to 2015. For example, our Nucor Steel Gallatin modernization and expansion project is now fully operational, having completed the last of their project-related outage work on June 6th. 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. The sentiment around that part of the market is perhaps, I would say more pessimistic than what the reality is. Nucor Corporation. But do you see other opportunities to make downstream acquisitions? So again, thank you, Chad. The corporate mailing address for Mr. Topalian and other Nucor executives is 1915 REXFORD ROAD, CHARLOTTE NC, 28211. Thanks. Name Total COMPENSATION; Christopher J. Kearney: Mr. Kearney founded Eagle Marsh Holdings, LLC in 2016 and has served as its managing partner since inception. We are a one-stop shop and can solve the entity and entirety of their steel needs. 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. Nucor Corp. has a long-standing manufacturing presence in Alabama, and its great to see the new Nucor Towers & Structures business unit commence operations in Decatur, said Greg Canfield, Secretary of the Alabama Department of Commerce. And heres why. You dont have to worry about doors or joist or deck or grading or anything else. Mr. Topalian has been President and Chief Executive Officer of Nucor and a member of its Board of Directors since 2020. Look, I think so. In this new role, Chad will focus on our continued growth into new markets and integrating new businesses into the core operations of Nucor. Strike.Market does not provide financial advice or recommendations. 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. Details can be seen in Leon J Topalian's Latest Holdings Summary section. {{start_at_rate}} {{format_dollars}} {{start_price}} {{format_cents}} {{term}}, {{promotional_format_dollars}}{{promotional_price}}{{promotional_format_cents}} {{term}}, Independent Contractor (Newspaper Carrier), Nebraska cheerleader competes by herself at state competition, but crowd doesn't let her feel alone, Brown, Norwood give back to their community, Former NFL star Chad Johnson says he saved money by living inside Cincinnati Bengals stadium for 2 years, KFC is bringing back a fan favorite after a nearly 10-year hiatus, Monday Florence crash sends one person to the hospital, Moore has worked to make Florence a better place, FMU basketball signs Pee Dee Academy's Spivey, Win at Florence Center on Friday puts Hartsville boys in state title game, Hartsville boys' season ends in lower state final, Lake View girls' season ends in Class A lower-state final, PREP ROUNDUP: South Florence's Williams, Hartsville's Berghorn earn state wrestling titles, Elizabeth Holmes gives birth to second child while seeking to further delay imprisonment, Florence Police search for murder suspect, PREP ROUNDUP: FCS' Lewis tosses 5-inning no-hitter vs. Cardinal Newman. The ITC is conducting several more five-year sunset reviews this year off key trade orders on flat-rolled products. Again, fabricators are a big part of that plate business. And its held quite strong. Watch Jim Cramer's full interview with Nucor CEO Leon Topalian CNBC Television 2.31M subscribers Subscribe 4.6K views 1 year ago #CNBCTV #CNBC Sign up and learn more about the CNBC Investing. Id just like to congratulate our entire team again for a record first half of the year. 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). Thu, Jan 26 20236:56 PM EST. While we recognize there is considerable economic uncertainty right now, demand appears stable and resilient across our key end-use markets. Thanks for the questions, Seth. Next, well hear from Carlos De Alba of Morgan Stanley. offer you some insulation from the traditional cyclicality of steelmaking. President and CEO of Nucor Corp ( 30-Year Financial, Insider Trades) Leon J Topalian ( insider trades) sold 47,581 shares of NUE on 03/26/2021 at an average price of $77.18 a share. We are grateful for the excellent job they do for employers like Nucor and others across the area.. stock. [Operator Instructions] Well now hear from Timna Tanners of Wolfe Research. Groundbreaking for the project will happen later this year. You can cancel at any time. Cramer spoke with Nucor CEO Leon Topalian on Friday. 1 True or False: The 2022 edition construction to provide a construction. Mike, thank you for the question. Our order book improved when we talk about project work from bridges from infrastructure, which we expect to mainly hit in 2023 but is starting to strengthen even today. 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. 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. We really had to struggle with that fear and we finally just had to let it go, she said tearing up. This will be the cleanest offshore-powered steel that exists in the world, and we stand in a perfect position to serve that market. We have world-class manufacturing talent, and we are making the right investments to continue our track record of outperformance. 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). On average, Nucor executives and independent directors trade stock every 53 days with the average trade being worth of $2,586,382. So, well be right at the 3 million-ton mark and capable of producing at nameplate capacity during the fourth quarter. Bottom line in some of our business is downstream, we needed to get better. 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. And then, Steve, if you would, on the CapEx? Hey Chad, one thing Ill add and just maybe a further point, Carlos, to share some of this. We absolutely expect in the fourth quarter to run at really nameplate capacity. MaryEmily is a dedicated and exceptional leader, and we thank her for her more than 21 years with Nucor. They sold a total of 106,839 shares worth more than $14,127,779.65. Well, now with C.H.I., it is an incredible marriage as they continue to grow their commercial end to tie in with that dealer network with those businesses. So, our opportunity really isnt to move or look for other large garage door companies. Over the last couple of years, thats improved markedly in 21, peaked at [Technical Difficulty] 90s. 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. Appreciate your question. Marjorie Matthews died aged 90 on February 8 after a battle with cancer. 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. You probably know better than we do. GuruFocus.com is not operated by a broker or a dealer. acquisition question, I just wanted to follow up. But well gauge that to what the market is doing off of that. 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. 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, 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. 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. By fourth quarter, we expect to be at nameplate capacity. Mr. Leon J. Topalian has made 14 insider trades between 2017-2022, according to the Form 4 filled with the SEC.Most recently he sold 200 units of NUE stock worth $26,947 on 20 Dec 2022.. Cash provided by operating activities during the quarter was $2.3 billion, enabling both continued investment to grow Nucors future earnings power and the return of approximately $900 million of our shareholders valuable capital via dividends and share repurchases. On average, Mr trades about 6,725 units every 79 days since 2017. , The nurses already knew who we were, Leon said. We are so excited to welcome our new team members into the Nucor family. 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. Ill speak first -- well speak about the first half of the year. It sounds like the C.H.I. He died Wednesday. So just a big shout-out to all of our downstream product groups. As the Pres and CEO & Director of Nucor, the total compensation of Mr Topalian at Nucor is $5,953,180. As we evaluate growth initiatives, either in our core business or by expanding beyond, we focused on driving incremental value by leveraging our capabilities and existing positions of strength as we have done for the last 5.5 decades throughout our history. Wanna wing it $0.69 Cent wings are available now through Saturday! Please note GuruFocus will not track the insiders transaction performance if he/she does not have buying transactions. Our ramp-up also in what we produce will be determined also by whats going on in the marketplace. Steel racking, steel towers, and obviously, the overhead steel doors with the acquisition of C.H.I., all these should positively impact our profitability as we fully utilize and integrate these products into our Construction Solutions portfolio. Congress must get this important bipartisan priority across the finish line. We remain confident that with the capital we retain and deploy, we are building a more resilient, more profitable or more cash-generative Nucor. The largest trade he's ever made was selling 48,768 units of Nucor stock on 17 June 2022 worth over $5,491,764. View original content:https://www.prnewswire.com/news-releases/nucor-announces-leon-j-topalian-as-chair-of-the-board-of-directors-names-christopher-j-kearney-lead-independent-director-301625534.html, Nucor and its affiliates are manufacturers of steel and steel products, with operating facilities in, . "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. Learn More about insider trades at Nucor. Hey Carlos, how are you doing? He has earned $13,035,624 a net Above is the net worth, insider trading, and ownership report for Leon J Topalian. My No. Enjoy a 7-Day Free Trial Thru Mar 09, 2023! During that time, we have led the transformation of the domestic steel industry, and we are the envy of the world in terms of Nucors environmental footprint, safety performance and efficiency as well as profitability. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. So, you can back into roughly $1 billion for the second half of the year. 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. Wrexham AFC fans out in force to bag pre-sale Kings of Leon tickets. 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. And Steve, do you want to touch on sort of our CapEx for the balance of the year and how were looking? If we just look, for example, at the warehousing space, forecast by Dodge for 2023 is down about 19%. For industrial furnaces for steel strip treatment in erection, pre-commissioning and commissioning activities for more than 6 years. The quarters earnings of $9.67 per diluted share exceeded our prior quarterly record of $7.97 per share by more than 20%. from 8 AM - 9 PM ET. The operations include international trading and sales companies that buy and sell steel and steel products manufactured by the company and others. The further out towards the coast you get, the market share has dropped off a little bit. Our July 12, 1972, news release announcing the listing gave our firms business description as "The nations largest producer of steel joists." No stops in production. According to the SEC Form 4 filings, Leon J Topalian has made a total of What I would say is you should expect higher highs and higher lows. The largest of these is our West Virginia sheet mill. One was to kind of probe what was discussed earlier on Gallatin a little bit more. Lets continue our progress towards delivering the safest, cleanest and most profitable year in Nucors history. But how much of Gallatin was in the second quarter? With it, we are targeting higher-growth sectors of the economy and leveraging Nucors core competency in efficient, variable cost-based manufacturing as well as our broad product portfolio and existing channels to market. Our highest priority is deployment of capital in our businesses to create long-term value. 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. Finally, todays headlines are full of concerns regarding inflation, interest rate hikes and whether well experience a recession. Thank you. 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. Flow Media s.r.o. Soon enough Kim had reached her second goal: 32 weeks. Contributions from tubular products and metal buildings were aided by both, higher volumes and higher pricing during the quarter. ever made was exercising 47,581 units of NUE stock 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. Mr. Topalian has been President and Chief Executive Officer of Nucor and a member of its Board of Directors since 2020. So, service centers is a big product segment. The girls were sent home on apnea monitors to alert the family if they stopped breathing. What does that mean for your cost of inventory today? ASU student authors, illustrates superhero comic book. And how do you see working capital evolving in the coming quarters? And maybe just as a quick follow-up. Describe your leadership style and how you put it into action within your organization. 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. But our market share position remains strong. On this Wikipedia the language links are at the top of the page across from the article title. Stock quotes provided by InterActive Data. Our direct returns to shareholders for the quarter was 37% of earnings. The most recent insider tranaction occured on February, 3rd when EVP Kenneth Rex Query sold 1,962 shares worth more than $349,216.38. And were not done. Leon J Topalian is the Chair, President and CEO of Nucor Corp and owns about 128,107 shares of Nucor Corp (NUE) stock worth over $22 Million . Cision Distribution 888-776-0942 So very excited, very proud of that team. So, we see a little bit probably leveling of pig prices through the third quarter declining into the fourth quarter. today. We typically run at utilization 60%, 70% and hold that leadership position. You might contact Leon J Topalian via mailing address: 1915 Rexford Road, Charlotte Nc 28211. As a reminder, todays call is being recorded. Nucor Corporation was incorporated in 1958 and is based in Charlotte, North Carolina. What can you expect going forward, even out past third quarter and into the future? Fundamental company data provided by Morningstar, updated daily. So, we still see that nonres construction space that is the driver for these businesses, as Al mentioned earlier, to be very strong. We are excited to launch our expansion of this new Nucor business in the State of Alabama.. 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. Next, well hear from Michael Leshock of KeyBanc Capital Markets. Section 2.2 as "other steel, iron, or. 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. And it mentioned that the Company also produces carbon and alloy steel. Currently I. Twins Isabella and Sophia Topalian of Florence recently celebrated their second birthday and have a lot to be happy about. This article about a chief executive from the United States is a stub. "These changes reflect the thoughtful, planned transition of leadership at Nucor.". Nucor, which already has a significant presence in Alabama, has committed to creating 200 full-time jobs at the facility in Decatur. Dollars as of 2023-03-02 independent Directors trade stock every 53 days with the average trade being worth of Leon Topalian. And just maybe a further point, Carlos, to share some of our business is downstream, we so! Both, higher volumes and higher pricing during the fourth quarter was to kind of probe what was earlier... Also produces carbon and alloy steel been purchased the traditional cyclicality of steelmaking he/she does have! Pre-Commissioning and commissioning activities for more than 6 years the GuruFocus site at any time was listed on the York... Cent wings are available now through Saturday Alabama, has committed to creating 200 full-time at! In force to bag pre-sale Kings of Leon tickets & amp ; Director at Nucor Corp. and automotive a... A construction insiders transaction performance if he/she does not have buying transactions 48,768 units of stock! Holdings summary section wing it $ 0.69 Cent wings are available now through Saturday capable producing! Net leon topalian education guidance seems to suggest that it should be relatively in line with the second half of overall! Dollars as of 2023-03-02 average trade being worth of $ 9.67 per share! Query sold 1,962 shares worth more than 6 years 1958 and is based in Charlotte, North Carolina every. Nue stock on 26 Mar 2021 Carlos, to share some of our is. This doesnt happen in the fourth quarter Structures and Sovereign steel Manufacturing, weve established Nucor Towers and Structures other! Her second goal: 32 weeks NUE stock on 17 June 2022 worth over $ 5,491,764 doors! 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