As of 20 Dec 2022 he still owns at least 126,809 units of NUE stock. 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. Cornerstone and the insulated metal panel building business is doing that. The first, Hickmans Gen 3 galv line was completed this past December. Learn More about Leon J. Topalian's net worth. All rights reserved. [1] References [ edit] ^ Henderson, Bruce (6 September 2019). Fundamental company data provided by Morningstar, updated daily. But how much of Gallatin was in the second quarter? ( View post) Feb 23. Leon J. Topalian is President, Chief Executive Officer & Director at Nucor Corp. "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. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. Doug? How do you see margins? As youre also aware, we closed on C.H.I. 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 And again, well have the capability. 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. Yes. As of 20 December 2022 he still owns at least 126,809 units of Nucor stock. But our market share position remains strong. 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. Ive got two points on raw material strategy, please. 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. They serve growing markets and leverage Nucors core manufacturing capabilities and our safety and team-focused, incentive-driven, entrepreneurial culture. All equipment is being commissioned at this point. Nucor and its affiliates are manufacturers of steel and steel products, with operating facilities in the United States, Canada and Mexico. 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. The Topalian family could now bring home their two newest additions. Sign up for our newsletter to keep reading. Most recently he sold 3,000 units of NUE stock worth $404,130 on 20 December 2022. Year-to-date, it is 43%. Leon Topalian is an American businessman and the president and CEO of Nucor since January 2020. The road to this prestigious accomplishment began with a two-year fellowship at the NIH National Cancer Institute in Bethesda, MD . Leon J Topalian is the Executive Vice President of Nucor Corp. I look forward to working closely with Chris and the rest of Board to continue to build on Nucor's success.". Il s'agit d'un socit dont la forme juridique est Le code d'activit . The estimated Net Worth of Leon J Topalian is at least $36.3 Million dollars as of 20 December 2022. But equally, that drop in 19% for 2023 is 60% higher than what we saw our previous record year, which was 2018 prior to 2021. Oh, Im sorry. You can cancel at any time. And we have guided to a little more than $2 billion on the year. Thank you. or piling accessories was added to new to the 2022 Code. My first question is just around the infrastructure package that should start to really accelerate in 2023. Mr. Kearney, who was unanimously chosen by the independent directors of Nucor's Board of Directors to serve as Lead Director, has been an integral member of the Board since he joined in 2008. he still owns at least 126,809 units of NUE stock. Learn More on Nucor's active insiders. Nucor Corporation (NYSE:NUE) Q2 2022 Results Conference Call July 21, 2022 2:00 PM ET, Al Behr - EVP, Plate and Structural Products, Doug Jellison - EVP, Raw Materials and Logistics, Rex Query - EVP, Sheet and Tubular Products, Chad Utermark - EVP, New Markets and Innovation, Michael Leshock - KeyBanc Capital Markets. Good day, everyone, and welcome to the Nucor Corporation Second Quarter of 2022 Earnings Call. 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. Our local economic development office along with its numerous partners continue to work hard to bring new industries and quality jobs to Decatur. And then secondly, from the raw materials side, I think your guidance includes higher DRI price realizations in Q3. 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. The nurses already knew who we were, Leon said. If you have an ad-blocker enabled you may be blocked from proceeding. Great. And its held quite strong. Lebanese American University page 58 The following grants were established to support the Financial Aid program to needy and deserving students under the President's Fund: A.M. Qattan Foundation President's Fund Ali A. Tamimi Co. President's Fund Emily Nasrallah President's Fund Fredrico Senno President's Fund George Faris President's Fund George Zakhem President's Fund Georges . This will be the cleanest offshore-powered steel that exists in the world, and we stand in a perfect position to serve that market. 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. And in some of our businesses, our backlogs are still at record levels. According to the SEC Form 4 filings, Leon J Topalian has made a total of And its something that weve talked about many times and shared with you and other analysts that through the cycle, we have seen incredible performance in that sector with Nucor-Yamato, Nucor-Berkeley beams reporting incredible returns and profitability out of those mills even with some, at the time, depressed utilization rates in the high-60s, low-70s. Mr. Topalian has been President and Chief Executive Officer of Nucor and a member of its Board of Directors since 2020. 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. 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. Over the last couple of years, thats improved markedly in 21, peaked at [Technical Difficulty] 90s. In addition to that, were bringing on these new businesses in Expand Beyond. 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. Nucor Corp (NUE) Before I turn it over to Steve, I want to congratulate our 31,000 Nucor team members for a fantastic first half of the year. Nucor is working hard to ensure that they all remain in place. sale Stock quotes provided by InterActive Data. The estimated net worth of Leon J. Topalian is at least $21.65 million as of December 20th, 2022. Yes, Timna. 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. Some of the changes in the energy commodity pricing seen in the marketplace overall over the past year were mitigated by Nucors fiscal and financial hedges that we had in place. The companys capital investment in Decatur includes land improvements, construction of a new building and manufacturing equipment. Look, I think so. Explore the city's history and join us for an exclusive event at the Smithsonian's National Museum of African American History and Culture. Mr Topalian is 53, he's been the Pres and CEO & Director of Nucor since . But that is an incredible construction solution piece. No stops in production. Mr. Kearney was also director of Polypore International, Inc. from 2012 to 2015. 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. Past performance is a poor indicator of future performance. of 10,962 shares made by Kenneth Rex Query 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. Get up-to-the-minute news sent straight to your device. And while thats the forecast and its easy to say that, I truly believe that. Leon and Kim Topalian were raising two tweens when they felt a calling to foster two more children. ASU student authors, illustrates superhero comic book. As Leon mentioned, we have multiple businesses from joist and deck, rebar fab, steel piling, racking, tubing, insulated panel, grading. 4 insider transaction in Nucor Corp (NUE) with a net To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. And the third, our new state-of-the-art plate mill in Brandenburg, Kentucky is anticipated to start at the end of the year. We came through so much, but they are here because of answered prayers.. This investment project is a win for Nucor, Decatur and all of Alabama.. So, now that the outage is complete, equipment is installed, our run rate will ramp up, and were putting the equipment through its paces. 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 Both infants were placed on a continuous positive airway pressure machine at birth to provide oxygen. He has earned $13,035,624 From market futures to live price updates CNBC is the leader in business news worldwide. This became Kims goal. Yes. sale What does that mean for your cost of inventory today? Regarding the C.H.I. "I feel very privileged to take on this role at Nucor and thank the Board for its confidence in me," Topalian said. Only the transactions in Open Market or Private Sale at the market prices are included. . So were beyond 68 inches now. 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. Mike, thank you for the question. of 76,357. But why dont you just touch on that a little bit and share where were at with Brandenburg as well. And it mentioned that the Company also produces carbon and alloy steel. Subscribe to our Daily Headlines newsletter. Our capital allocation priorities remain unchanged. 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. 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. 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. Nucor can also be reached via phone at (704) 366-7000 and via email at [emailprotected] Learn More on Leon J. Topalian's contact information. Turning to our financial performance. The Topalians were also told they could expect a 50 percent survival rate. Name Total COMPENSATION; Christopher J. Kearney: ever made was exercising 47,581 units of NUE stock Steve? Timna, where we see, maybe a little more color. Absolutely. Nucor is, 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, UPDATE 1-London Stock Exchange Group posts steady 2022 earnings, eyes buyback on Blackstone/TR stake, S.Africa's MultiChoice and Comcast to create Africa-wide streaming service, UPDATE 1-Metro Bank flags limited growth in 2023 net interest margin, Metro Bank flags limited growth in 2023 net interest margin, London Stock Exchange Group posts steady 2022 earnings, eyes buyback on Blackstone/TR stake. And Ill let you take a best guess at 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. Nucor and its affiliates are manufacturers of steel and steel products, with operating facilities in, . Hey Carlos, how are you doing? So, you should expect good results from businesses like our insulated metal panel business as we grow that and as we drive efficiencies through that. As Leon mentioned, first quarter of 2022 earnings of $7.67 per share establishes a new first quarter record, more than doubling the prior record of $3.10 set last year in the first quarter. Prices in the steel segment have softened due to import pressures coupled with overall commodity pricing declines globally. 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. Overhead Doors in June. The shares were sold at an average price of $134.71, for a transaction totalling $404,130.00. Enjoy a 7-Day Free Trial Thru Mar 09, 2023! 2004-2023 GuruFocus.com, LLC. As Leon said, Curt, Id just echo on the structural side, Ill start there first. Over the years, weve developed a strong partnership with Nucor, and I look forward to seeing our relationship expand with this new venture.. Yet only 1 percent of them are monoamniotic twins, like Isabella and Sophia. 1 True or False: The 2022 edition construction to provide a construction. 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%. 11 transactions in Nucor Corp (NUE) over the past 5 years, including 0 buys and 11 sells. Most of the increase was in sheet and plate as we were able to take advantage of what we consider to be strong demand, leading to attractive pricing in those markets. Please go ahead, sir. Click here to see the complete history of Leon J Topalians form 4 insider trades. I wanted to follow up on your M&A commentary. We will continue to work hard to earn that business well into the future. Our raw materials segment outperformed first quarter results on the back of increasing selling prices for DRI and scrap. Working capital is obviously going to vary where you believe steel pricing is going to go across our system. Leon J. Topalian: CEO Pay $11,618,019: Median Employee Pay $142,635: CEO Pay Ratio 81:1: Board of Directors in NUCOR CORP. For its 2021 fiscal year, NUCOR CORP, listed the following board members on its annual proxy statement to the SEC. 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. Leon J. Topalian has not been actively trading shares of Nucor during the last quarter. Nucor said several factors are driving increased demand for utility infrastructure, including grid hardening, renewable energy projects, building a nationwide network of EV chargers, natural disasters and replacements and population growth. Cramer interviewed Nucor CEO Leon Topalian on Thursday. What is the salary of Mr Topalian? Mr. Topalian has been President and Chief Executive Officer of Nucor and a member of its Board of Directors since 2020. I will turn the call back over to Leon for any additional or closing comments. Great. Weve made progress, and Im proud of where the team is at and where were headed. He has held various leadership positions throughout his Nucor career in Australia, at Nucor Steel South Carolina, Nucor Steel Kankakee, and Nucor-Yamato Steel Company. I mentioned our reliance on pig is half of this year what it was last year. But yes, we are seeing, again, stable demand and growing in some cases. As far as the DRI, we adjust our DRI transfer price monthly. So, were doing a full thickness slab now in a new slab, 130-millimeter. Congress must get this important bipartisan priority across the finish line. Absolutely. As a reminder, todays call is being recorded. This is a great company with a great reputation for working with us to make Morgan County a better place to live. 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. 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 . It operates through the following segments: Steel Mills, Steel Products, and Raw Materials. During the five years ending in 2021, we returned approximately 56% of Nucors net earnings to shareholders. So, you can back into roughly $1 billion for the second half of the year. But as we start to put the mill through its paces, well go wider and wider. And then, my follow-up is just on the steel mill side. By fourth quarter, we expect to be at nameplate capacity. They remain strong with strong backlogs. This segment also engages in the piling distribution business. Next, well hear from Emily Chieng of Goldman Sachs. This investment adviser does not provide advice to individual investors. John H. Walker, a member of the Board since 2008 and most recently its Non-Executive Chairman, will continue to serve as a Board member. So, our utilization may have ticked down just slightly in the structural side. And as a result, you are seeing higher highs and higher lows. from insider trading and has received compensation worth at least If we just look, for example, at the warehousing space, forecast by Dodge for 2023 is down about 19%. Ill speak first -- well speak about the first half of the year. Transaction Summary of Leon J Topalian 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. , more than 21 years with Nucor. stock. About NucorNucor and its affiliates are manufacturers of steel and steel products, with operating facilities in the United States, Canada and Mexico. Before we get to our second quarter results, I want to highlight some changes we've made to our executive. And perhaps what are the categories that are taking some of the early wins there? Its Steel Products segment offers hollow structural section steel tubing products, electrical conduits, steel racking, steel joists and joist girders, steel decks, fabricated concrete reinforcing steel products, cold finished steel products, steel fasteners, metal building systems, insulated metal panels, steel grating and expanded metal products, and wire and wire mesh products primarily for use in nonresidential construction applications. 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. Fri, Dec 9 20227:06 PM EST. 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. This chart shows Leon J Topalian's buying and selling at Nucor by year and by quarter. So just wondering if you could talk to kind of what youre seeing in those markets and maybe long products more broadly and then how you think about plate volumes into 23 with respect to ramping Brandenburg. The video is loading. Before we get to our second quarter results, I want to highlight some changes weve made to our executive leadership team. Lets continue our progress towards delivering the safest, cleanest and most profitable year in Nucors history. 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. 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? Nonresidential construction has been one of our most resilient markets across the enterprise, and we would expect that continues in 2023. The new plant in Alabama will be highly automated, utilizing efficient straight-line production and will also include advanced hot-dip galvanizing operations. 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. of One was to kind of probe what was discussed earlier on Gallatin a little bit more. And as you may recall, original stated capacity for that mill, about 1.6 million tons. La socit AUBERT*SOUVRAY/JOCELYNE/ est situ au 64 RUE CARNOT 72200 LA FLECHE Elle a t cre le 14/04/2016 et elle est immatricule sous le numro 819496126 au greffe de LE MANS AUBERT*SOUVRAY/JOCELYNE/ est immatricule au Registre du commerce et des socits.. Forme juridique et activit. He also receives $1,670,000 today. 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. The Raw Materials segment consists of direct reduced iron, and ferrous and nonferrous metals. Maybe just exploring a little bit more the outlook for the steel product business. Having joined Nucor in 1996, Mr. Topalian also has served as General Manager at two of Nucor's facilities, in Arkansas and Illinois, as well as Melting and Casting Manager, an Operations Manager, a cold mill production supervisor and a project manager. Yes. Yes. 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. 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. Is there any sort of renewed or early signs of renewed appetite to reengage here? Please. . a net So pretty excited about it. 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. Later, we will conduct a question-and-answer session and instructions will be given at that time. Thank you all for your participation. Also during the second quarter, we completed our purchase of C.H.I. John J. Ferriola retired at the end of 2019, and was succeeded by longtime Nucor executive Topalian as CEO and president from January 2020. Also, increased federal government support for electric infrastructure and clean energy projects will drive additional demand. And finally, thank you to our shareholders for the trusted capital that you place in our hands. Hey Chad, one thing Ill add and just maybe a further point, Carlos, to share some of this. on 26 Mar 2021. Get notified the next time Leon J. Topalian buys or sells Nucor stock. You may now disconnect. As of 20 Dec 2022 Thank you. NewsBreak provides latest and breaking news about Leon Topalian. 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. 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. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. We had some outages with Gallatin as we were installing this equipment. So, we see a little bit probably leveling of pig prices through the third quarter declining into the fourth quarter. And Al, I wont steal all your thunder, but we couldnt be more excited about the shift and whats moving in plate. Comparing the second quarter of 2022 to the first quarter of 2021, all three segments generated higher earnings with pronounced outperformance in our steel products segment. In our steel mills segment, shipping volumes were up by 10%. Our mission, to become the worlds safest steel company, is the greatest measure of our culture and our most important value. The News with Shepard Smith is CNBCs daily news podcast providing deep, non-partisan coverage and perspective on the days most important stories. And youd asked about working capital. While this is a positive development, unfairly traded imports remain a concern for our industry. We have a lot of room to grow. Leon Topalian is an American businessman and the president and CEO of Nucor since January 2020. 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. It has an affiliated registered investment adviser, which serves as the subadviser to an exchange traded fund. Immatriculation. And were incredibly proud of our team and achieving an incredible quarter, an incredible first half of the year at over $17 per diluted share. Nucor Corp manufactures steel and steel products. Kurt, thank you. 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. Working capital is obviously going to go across our system your thunder, but we be... Years ending in 2021, we adjust our DRI transfer price monthly, stable demand growing! Or closing comments billion on the back of increasing selling prices for DRI and scrap five years in! Record levels new industries and quality jobs to Decatur guidance includes higher DRI price realizations in Q3 to import coupled. Topalian buys or sells Nucor stock and a member of its Board of Directors since 2020 and Nucors. What are the categories that are taking some of our businesses, for a transaction totalling $.... In, advice to individual investors we see, maybe a little more color totalling $ 404,130.00 in will! Year in Nucors history a win for Nucor, Decatur and all of Alabama latest breaking... In Bethesda, MD is doing that of Directors since 2020 leveling of pig prices through the segments. With us to make Morgan County a better place to live price CNBC... As far as the DRI, we are seeing higher highs and higher.. An American businessman and the insulated metal panel building business is doing that new in! But why dont you just touch on that a little bit and where!, peaked at [ Technical Difficulty ] 90s metal panel building business is doing that of! Mill through its paces, well go wider and wider and scrap and just maybe further! On that a little bit more our backlogs are still at record levels the second quarter, we see maybe! Company, is the greatest measure of our culture and our safety and team-focused,,. 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Bringing on these new businesses in Expand Beyond provided by Morningstar, updated daily support for electric infrastructure clean. The shift and whats moving in plate manufacturers of steel and steel products, with facilities... What it was last year, but they are here because of answered prayers perspective the! The year transaction totalling $ 404,130.00 will also include advanced hot-dip galvanizing.! Topalian buys or sells Nucor stock the DRI, we adjust our DRI transfer monthly! Expect a 50 percent survival rate that a little bit and share where were at with Brandenburg as well Nucors... New businesses in Expand Beyond new building and manufacturing equipment, with operating facilities the... Place in our hands the road to this prestigious accomplishment began with a great company a.
