Finally, todays headlines are full of concerns regarding inflation, interest rate hikes and whether well experience a recession. And automotive is a good example. 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. And how do you see working capital evolving in the coming quarters? 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. 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. And so, Ill give you that same outlook from what we said today. [Operator Instructions] And well first hear from Curt Woodworth of Credit Suisse. Leon J. Topalian is President, Chief Executive Officer & Director at Nucor Corp. And assuming demand allows, should we be seeing that 1.4, half of that flow through fully in the second half of the year? "I want to thank John for his numerous contributions to Nucor. Just trying to square that with the volumes being lower year-over-year. . Congress must get this important bipartisan priority across the finish line. So, you would look right at that 3 million ton run rate annualized. Overhead Doors in June. This investment adviser does not provide advice to individual investors. The forward-looking statements made in this conference call speak only as of this date, and Nucor does not assume any obligation to update them, either as a result of new information, future events or otherwise. This chart shows Leon J Topalian's buying and selling at Nucor by year and by quarter. Mr. Topalian has been President and Chief Executive Officer of Nucor and a member of its Board of Directors since 2020. We had some outages with Gallatin as we were installing this equipment. Our mission, to become the worlds safest steel company, is the greatest measure of our culture and our most important value. 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. And then secondly, from the raw materials side, I think your guidance includes higher DRI price realizations in Q3. All rights reserved. Other recent insider transactions involving Nucor Corp (NUE) include During the five years ending in 2021, we returned approximately 56% of Nucors net earnings to shareholders. Latest: Nucor to Add Melt Ship at Kingman Bar Mill And Id say thats just not chasing the cheap tons. 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. He previously served as President and Chief Operating Officer of Nucor beginning in September 2019. (renews at {{format_dollars}}{{start_price}}{{format_cents}}/month + tax). of 171,494 shares. 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. 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. 11 transactions in Nucor Corp (NUE) over the past 5 years, including 0 buys and 11 sells. And it mentioned that the Company also produces carbon and alloy steel. Lets continue our progress towards delivering the safest, cleanest and most profitable year in Nucors history. We remain confident that with the capital we retain and deploy, we are building a more resilient, more profitable or more cash-generative Nucor. (Chicago, IL) - The American Institute of Steel Construction (AISC) is pleased to announce the appointment of two new members to its Board of Directors: Leon Topalian, executive vice president of Nucor Corporation; and Glenn R. Tabolt, PE, president of STS Steel, Inc., Schenectady, N.Y. Please go ahead, sir. I wanted to ask two questions. Certain statements made during the conference will be forward-looking statements that involve risks and uncertainties. On this Wikipedia the language links are at the top of the page across from the article title. Past performance is a poor indicator of future performance. Nucor Corp manufactures steel and steel products. 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. Health. 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. , While those are real, the driving demand factors in our businesses, for the most part, remain very healthy. Appreciate your question. 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. Leon J Topalian currently owns a total of 1 This investment project is a win for Nucor, Decatur and all of Alabama.. a net Leon joined Nucor in 1996 as a project engineer at Nucor Steel - Berkeley in Huger, South Carolina and was promoted to Cold Mill Production Supervisor in 1998. revision of the 2016 edition. 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. Also, increased federal government support for electric infrastructure and clean energy projects will drive additional demand. Thanks, Leon. Over the last 20 years, insiders at Nucor have traded over $66,136,542 worth of Nucor stock and bought 9,050 units worth $401,135 So, you have an opportunity -- or we have an opportunity to really grow that business with what we have today. Nucor Corp. engages in the manufacturing of steel and steel products. We came through so much, but they are here because of answered prayers.. All Rights Reserved. Yes. Executive Vice President Engineered Bar Products and Fabricated Construction Products, Chief Financial Officer, Treasurer & Executive Vice President. ever made was exercising 47,581 units of NUE stock Mr. Topalian was named President and Chief Executive Officer effective January 1, 2020. 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. 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. And maybe just as a quick follow-up. of 1 dividend stock for a LIFETIME of income. NewsBreak provides latest and breaking news about Leon Topalian. 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, The guidance seems to suggest that it should be relatively in line with the second quarter. , The corporate mailing address for Mr. Topalian and other Nucor executives is 1915 REXFORD ROAD, CHARLOTTE NC, 28211. 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. 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. Maybe just exploring a little bit more the outlook for the steel product business. We wanted two more children and the fact that God gave us two at one time was a real blessing.. And heres why. While we recognize there is considerable economic uncertainty right now, demand appears stable and resilient across our key end-use markets. This net worth estimate does not reflect any other investments that Mr. Topalian may own. And then, my follow-up is just on the steel mill side. 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. There is the normal flow of pig prices as we purchase pigs, deliveries, lead times, working through inventories. 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. Leon J Topalian is the Executive Vice President of Nucor Corp. But, how much early demand are you seeing that -- from that materialize this year? It is difficult to recall everything we went through because now they are healthy and running around, Leon said. 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. They remain a bit cautious with their buys. 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 . a net Leon Topalian is CEO of Nucor Corp. As the Pres and CEO & Director of Nucor, the total compensation of Mr Topalian at Nucor is $5,953,180. Stock quotes provided by InterActive Data. Before we get to our second quarter results, I want to highlight some changes we've made to our executive. Please subscribe to keep reading. So just wondering if you have any updated comments there. So, that business segment for us continues to operate. Alabama offers world-class companies like Nucor all the advantages they need to find success, including a skilled workforce, a pro-business environment and a solid support system, said Governor Ivey. There are indicators that we have come off the high in some of these businesses as far as backlogs. The largest of these is our West Virginia sheet mill. team and welcoming them to the Nucor family and what theyre doing in that business segment. In the -- soon coming on line of our plate mill in Brandenburg. And then, the C.H.I. Ferriola has been Nucor's chief executive since 2013. If you have an ad-blocker enabled you may be blocked from proceeding. 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. You can cancel at any time. 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. Of concerns regarding inflation, interest rate hikes and whether well experience a recession most part, remain healthy! Involve risks and uncertainties in September 2019, from the raw materials side, think. 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