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. Thank you. 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. 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. 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. This is a great company with a great reputation for working with us to make Morgan County a better place to live. But the overall market is still incredibly strong, and theres a lot to be optimistic about in that space. Thanks. Thu, Jan 26 20236:56 PM EST. So, in terms of the volumes, yes, its coming off 19%. It also engages in the steel trading and rebar distribution businesses. Nucor CEO Leon Topalian says the American steel industry can handle any increased demand rising from passage of an infrastructure bill in Congress. This investment adviser does not provide advice to individual investors. During the five years ending in 2021, we returned approximately 56% of Nucors net earnings to shareholders. Learn More on Nucor's active insiders. now in the portfolio continues to differentiate Nucor as a one-stop differentiated supplier that can take care of all the needs. Nucor and its affiliates are manufacturers of steel and steel products, with operating facilities in, . Leon Topalian is CEO of Nucor Corp. I wanted to follow up on your M&A commentary. Nucor is North America's largest recycler. While those are real, the driving demand factors in our businesses, for the most part, remain very healthy. Turning to policy issues. Mr. Topalian was named President and Chief Executive Officer effective January 1, 2020. 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. Finally, todays headlines are full of concerns regarding inflation, interest rate hikes and whether well experience a recession. There are indicators that we have come off the high in some of these businesses as far as backlogs. 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. Is there any sort of renewed or early signs of renewed appetite to reengage here? Also during the second quarter, we completed our purchase of C.H.I. They remain a bit cautious with their buys. Cramer spoke with Nucor CEO Leon Topalian on Friday. 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. . Earlier, I mentioned the 50th anniversary of our New York Stock Exchange listing. These state-of-the-art features will increase Nucor Towers & Structures capabilities to provide engineered solutions for utility infrastructure and construction projects. 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. Yes. Were seeing some -- again, the word resiliency is the right word across the nonres construction businesses and you know well now in Nucor that 50% of our overall mix is into the construction sector. Leon J Topalian made Good afternoon, Leon and team. Again, fabricators are a big part of that plate business. 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. Please note GuruFocus will not track the insiders transaction performance if he/she does not have buying transactions. The estimated net worth of Leon J Topalian is at least $22 Million dollars as of 2023-03-02. Yes. This is Steve. The most-recent trade in Nucor Corp is the And again, well have the capability. 1 True or False: The 2022 edition construction to provide a construction. This segment also engages in the piling distribution business. And in some of our businesses, our backlogs are still at record levels. We want the transfer price to reflect the market price into the steel mills, so that will reflect in those segment reporting. Match case Limit results 1 per page. Ill speak first -- well speak about the first half of the year. Investors are already flocking there for a chance at 1,000%+ returns. At that time, we just operated one steel mill, which was Nucor Steel Darlington. Her impact on our teams across the enterprise contributed greatly to Nucors success and profitable growth. . Bottom line in some of our business is downstream, we needed to get better. 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 . 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. , This segment sells its ferrous scrap to electric arc furnace steel mills and foundries for manufacturing process; and nonferrous scrap metal to aluminum can producers, secondary aluminum smelters, steel mills and other processors, and consumers of various nonferrous metals. We typically run at utilization 60%, 70% and hold that leadership position. You asked about capital for the remainder of the year. Nucor is North America's largest recycler. Today, Expand Beyond is a disciplined strategy for profitable growth and value creation, just as our expansion into steelmaking was 50 years ago. ever made was exercising 47,581 units of NUE stock During the second quarter, Nucor funded $520 million in capital expenditures and $3.1 billion in acquisitions. And Al, I wont steal all your thunder, but we couldnt be more excited about the shift and whats moving in plate. Our mission, to become the worlds safest steel company, is the greatest measure of our culture and our most important value. Following the completion of the sale, the chief executive officer now directly owns 126,809 shares of the company's stock, valued at $17,082,440.39. 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. Were you ultimately forced to lock in some high-priced deliveries that might be arriving even though spot has declined sharply? This segment sells its products to steel service centers, fabricators, and manufacturers in the United States, Canada, and Mexico. 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. This investment project is a win for Nucor, Decatur and all of Alabama.. Ill just say from a very high level before I turn it to Al that one of the unique opportunities that we have, particularly in structural, is the market share position that we have. He appears on "Balance of Power." Watch or read the transcript below. "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. 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 . Thank you. Mr. Topalian has been President and Chief Executive Officer of Nucor and a member of its Board of Directors since 2020. In our steel mills segment, shipping volumes were up by 10%. Immatriculation. We have world-class manufacturing talent, and we are making the right investments to continue our track record of outperformance. But for Gallatin, completed our second quarter outage. Her impact on our teams across the enterprise contributed greatly to Nucors success and profitable growth. on 26 Mar 2021. 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 feel very privileged to take on this role at Nucor and thank the Board for its confidence in me," Topalian said. The guidance seems to suggest that it should be relatively in line with the second quarter. I will turn the call back over to Leon for any additional or closing comments. Please go ahead, sir. Every one of those buildings has somewhere between 4 and 12 to 15 doors on every building. 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. But our market share position remains strong. What can you expect going forward, even out past third quarter and into the future? 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. of 57,932 shares. While we recognize there is considerable economic uncertainty right now, demand appears stable and resilient across our key end-use markets. Doug? Leon Topalian is an American businessman and the president and CEO of Nucor since January 2020. 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. Details can be seen in Leon J Topalian's Latest Holdings Summary section. 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 was a shock, especially the twin part. During the past 18 months, 171,494 shares of Nucor Corp (NUE) were sold and 0 shares were bought by its insiders, resulting in a net But, were not seeing any real movement in terms of material orders. Look, I think so. 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. Lets continue our progress towards delivering the safest, cleanest and most profitable year in Nucors history. Describe your leadership style and how you put it into action within your organization. Certain statements made during the conference will be forward-looking statements that involve risks and uncertainties. Explore the city's history and join us for an exclusive event at the Smithsonian's National Museum of African American History and Culture. 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? Past performance is a poor indicator of future performance. 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. ( View post) Feb 23. Thanks a lot. It has an affiliated registered investment adviser, which serves as the subadviser to an exchange traded fund. Thank you all for your participation. Year-to-date, it is 43%. He previously served as President and Chief Operating Officer of Nucor beginning in September 2019. Please disable your ad-blocker and refresh. Yes. Formerly of Topalian's Newsagents, Grange . Let me start with the back half and then, Rex, Ill turn it over to you. It serves agriculture, automotive, construction, energy and transmission, oil and gas, heavy equipment, infrastructure, and transportation industries through its in-house sales force; and internal distribution and trading companies. What weve seen today would be very little through the cycle of the overall volume, but Ill let Rex touch more on that. Our highest priority is deployment of capital in our businesses to create long-term value. About NucorNucor and its affiliates are manufacturers of steel and steel products, with operating facilities in the United States, Canada and Mexico. We really had to struggle with that fear and we finally just had to let it go, she said tearing up. of 48,302 shares made by D. Chad Utermark 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. I would just say we would expect continued robust markets. Leon J. Topalian is President, Chief Executive Officer & Director at 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). 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. from insider trading and has received compensation worth at least 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 founded Eagle Marsh Holdings, LLC in 2016 and has served as its managing partner since inception. I want to thank our 31,000 teammates for these fantastic results. Leon Topalian Good afternoon and welcome to our second quarter earnings call. In this new role, Chad will focus on our continued growth into new markets and integrating new businesses into the core operations of Nucor. Mr. Leon J. Topalian has made 14 insider trades between 2017-2022, according to the Form 4 filled with the SEC. We look forward to rapidly scaling up their operations as we continue to broaden our portfolio of construction market solutions. 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. But, how much early demand are you seeing that -- from that materialize this year? Its very exciting. Appreciate your question. The sentiment around that part of the market is perhaps, I would say more pessimistic than what the reality is. Flow Media s.r.o. We are not atrading platform and do not offer tobuy stock or sell any security. Most recently, Leon J. Topalian sold 3,000 shares of the business's stock in a transaction on Tuesday, December 20th. Overhead Doors in June. as Pres, Chief Executive Officer & Director in Nucor Corporation. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. Fundamental company data provided by Morningstar, updated daily. of 10,962 shares made by Kenneth Rex Query That makes sense. I was so excited that we had made it. Mr. Leon J. Topalian is 55 years old, born in 1968. 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. You might contact Leon J Topalian via mailing address: 1915 Rexford Road, Charlotte Nc 28211. Nucor and its affiliates are manufacturers of steel and steel products, with operating facilities in the United States, Canada and Mexico. 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 Nucor Corporation. One was to kind of probe what was discussed earlier on Gallatin a little bit more. sale So, if you look at the group -- if you took the first half of the year, we were running at a utilization above the 80% mark as a group. The most recent stock trade was executed by Gregory J Murphy on 26 October 2022, trading 3,000 units of NUE stock currently worth $411,870. We remain confident that with the capital we retain and deploy, we are building a more resilient, more profitable or more cash-generative Nucor. 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. You can help Wikipedia by expanding it. , We are so excited to welcome our new team members into the Nucor family. About NucorNucor and its affiliates are manufacturers of steel and steel products, with operating facilities in the United States, Canada and Mexico. We had some outages with Gallatin as we were installing this equipment. The total. And the third, our new state-of-the-art plate mill in Brandenburg, Kentucky is anticipated to start at the end of the year. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. Mr. Topalian has been President and Chief Executive Officer of Nucor and a member of its Board of Directors since 2020. And congrats on the exceptional quarter. Let me start off with our steel products businesses. Get notified the next time Leon J. Topalian buys or sells Nucor stock. 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, . 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. 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. I mentioned our reliance on pig is half of this year what it was last year. When typing in this field, a list of search results will appear and be automatically updated as you type. 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. Click Here for Your Free Ultimate Dividend Package. Through her own research and in talking with her physicians, Kim discovered that monoamniotic twins have a higher success rate if the mother can be hospitalized and monitored at 24 weeks development. Thanks, Leon. Overall, our steel products segment continues to benefit from strong nonresidential construction demand. Leon J Topalian is the Executive Vice President of Nucor Corp. Its in supply chain and some of those constraints. I know you said that you were looking to shore up maybe more overhead garage stores to kind of get more critical mass like you did with the tubulars -- structural tubing in the past. Name Total COMPENSATION; Christopher J. Kearney: So were beyond 68 inches now. 6:10 As of 20 December 2022 he still owns at least 126,809 units of Nucor stock. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. In May, we felt it was prudent to enhance liquidity and raised $500 million of senior notes with a three-year maturity and a coupon of 3.95% and $500 million of senior notes with five-year maturity and a coupon of 4.3%. The Steel Products segment includes steel joists and joist girders, steel deck, fabricated concrete reinforcing steel, cold finished steel, steel fasteners, metal building systems, steel grating, tubular products businesses, piling products businesses, and wire and wire mesh. The video is loading. From market futures to live price updates CNBC is the leader in business news worldwide. The company also produces direct reduced iron for use in its steel mills. or piling accessories was added to new to the 2022 Code. Nucor Corporation. Seth, thanks for the question. Timna, where we see, maybe a little more color. Before we get to our second quarter results, I want to highlight some changes we've made to our executive. Learn More on Leon J. Topalian's trading history. 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. The corporate mailing address for Mr. Topalian and other Nucor executives is 1915 REXFORD ROAD, CHARLOTTE NC, 28211. You can cancel at any time. He died Wednesday. and Topalian will take over as CEO on Jan. 1. 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. 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. 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. But most all of our downstream businesses have current backlog levels that are 30% to 50% higher than the average backlog we had in that 2015 to 2019 period to the pandemic. Were already expanded -- have expanded our slab with beyond original capabilities. 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. I mean, we stand as the only mill in North America, the only mill in the Western Hemisphere that can serve that market thats currently served by foreign steel, mostly blast furnace steel. Both infants were placed on a continuous positive airway pressure machine at birth to provide oxygen. 200 units of NUE stock worth $26,947 on 20 Dec 2022. 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. Thanks. Only the transactions in Open Market or Private Sale at the market prices are included. Mr. Topalian has been President and Chief Executive Officer of Nucor and a member of its Board of Directors since 2020. Next, well hear from Carlos De Alba of Morgan Stanley. Her parents moved into the Topalians home in Florence to take care of the household while Leon was in Charlotte for work during the weekdays. 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