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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). 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, Nucor Corp: Profile and Biography - Bloomberg Markets Bloomberg the Company & Its Products Bloomberg Connecting decision makers to a dynamic network of information,. And Al, I wont steal all your thunder, but we couldnt be more excited about the shift and whats moving in plate. sale At that time, we just operated one steel mill, which was Nucor Steel Darlington. They remain a bit cautious with their buys. They sold a total of 106,839 shares worth more than $14,127,779.65. But, were not seeing any real movement in terms of material orders. Once these five projects are fully ramped up, we anticipate they will contribute a further $700 million in run rate EBITDA in normal market conditions. And weve got, I think, good questions on the Gallatin front. 1 dividend stock for a LIFETIME of income. Learn More on Leon J. Topalian's trading history. And finally, thank you to our shareholders for the trusted capital that you place in our hands. 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. 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. And then, you think about the rest of the warehousing space with companies like Amazon, the Gigafactories, the chip factories, and hopefully, well see that pass here in Washington D.C. and the CHIPS Act and that incentive package supported to build an onshore and reshore American manufacturing. It has an affiliated registered investment adviser, which serves as the subadviser to an exchange traded fund. GuruFocus.com is not operated by a broker or a dealer. And Id say thats just not chasing the cheap tons. Last updated: 22 February 2023 at 10:21am EST. The largest trade he's ever made was selling 48,768 units of Nucor stock on 17 June 2022 worth over $5,491,764. Fundamental company data provided by Morningstar, updated daily. Its just a tremendous outcome, and again, something that we and the entire executive team could not be more proud of the 30,000 men and women who make up the Nucor family. Can you explain what would drive that given the weaker scrap and pig iron prices that were seeing in the spot market Q-over-Q? 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 "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. Wrexham AFC fans out in force to bag pre-sale Kings of Leon tickets. Nucor Corporation. Our July 12, 1972, news release announcing the listing gave our firms business description as "The nations largest producer of steel joists." Enter the email address you signed up with and we'll email you a reset link. It was around this time that Kim discovered she was pregnant. 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. 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. more than 21 years with Nucor. There are 17 older and 3 younger executives at Nucor. Turning to the balance sheet briefly. And automotive is a good example. 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. What does that mean for your cost of inventory today? The road to this prestigious accomplishment began with a two-year fellowship at the NIH National Cancer Institute in Bethesda, MD . During the second quarter, Nucor funded $520 million in capital expenditures and $3.1 billion in acquisitions. ICYMI: Leon Topalian, Nucor Corporation CEO and Chairman of AISI discussed WTO's ruling against U.S. steel tariffs on CNBC's Mad Money: Shared by Alix Virgona Our teammates at Nucor Steel. But the overall market is still incredibly strong, and theres a lot to be optimistic about in that space. Ferriola has been Nucor's chief executive since 2013. Its in supply chain and some of those constraints. Leon J. Topalian is President, Chief Executive Officer & Director at Nucor Corp. As Leon mentioned, we have multiple businesses from joist and deck, rebar fab, steel piling, racking, tubing, insulated panel, grading. Topalian takes over the role from John Brett, CEO of ArcelorMittal North America, who has chaired AISI since March 2020. Today, Expand Beyond is a disciplined strategy for profitable growth and value creation, just as our expansion into steelmaking was 50 years ago. 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. And how do you see working capital evolving in the coming quarters? Sure, Leon. 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. What weve seen today would be very little through the cycle of the overall volume, but Ill let Rex touch more on that. Formerly of Topalian's Newsagents, Grange . We are the leading structural manufacturer in the United States. Nucor is, Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American, Nucor Provides One-Year Update on New West Virginia Sheet Mill, Nucor to Build New Transmission Tower Production Plant in Alabama. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Nucor facilities in Alabama produce steel, tubular products, joists and decking and metal buildings, with locations in Birmingham, Tuscaloosa, Fort Payne, Eufaula and Decatur. Nucor CEO Leon Topalian on Q3 earnings and the company's outlook 2,450 views Oct 21, 2021 Leon Topalian, Nucor president and CEO, joins 'Squawk on the Street' to discuss Nucor's Q3 earnings. as Pres, Chief Executive Officer & Director in Nucor Corporation. But our market share position remains strong. 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. From market futures to live price updates CNBC is the leader in business news worldwide. Leon Topalian is an American businessman and the president and CEO of Nucor since January 2020. And again, if we look at our most recent order books, sheets strong. Maybe just exploring a little bit more the outlook for the steel product business. The corporate mailing address for Mr. Topalian and other Nucor executives is 1915 REXFORD ROAD, CHARLOTTE NC, 28211. So I do want to state that, and well gauge that by the demand in the marketplace. 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. The Raw Materials segment consists of direct reduced iron, and ferrous and nonferrous metals. That -- the new equipment, were capable of 73.5 inches. of Other recent insider transactions involving Nucor Corp (NUE) include Both infants were placed on a continuous positive airway pressure machine at birth to provide oxygen. Yes. As the Pres and CEO & Director of Nucor, the total compensation of Mr Topalian at Nucor is $5,953,180. 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. where Nucor has a long history and presence throughout the state," said Leon Topalian, Chair, President and CEO of Nucor Corp. "As America's most diverse industrial manufacturer of steel products, we will be able to . ICYMI: Leon Topalian, Nucor Corporation CEO and Chairman of AISI discussed WTO's ruling against U.S. steel tariffs on CNBC's Mad Money: Mihai Pirlog Jerry Inzerillo, GCEO at #DGDA, came forward to congratulate and honor the sales center team that completed their training program in the history 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. Sign up for our newsletter to keep reading. , This net worth estimate does not reflect any other investments that Mr. Topalian may own. 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. I think it will get richer as we move forward. Her impact on our teams across the enterprise contributed greatly to Nucors success and profitable growth. He died Wednesday. 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. 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. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. 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, . The most active insiders traders include Gregory Hayes, Joseph D Rupp, and Patrick Dempsey. Thank you all for your participation. Topalian will take over as CEO on Jan. 1. Most recently he sold The estimated net worth of Leon J Topalian is at least $22 Million dollars as of 2023-02-02. He appears on "Balance of Power." Watch or read the transcript below. And youd asked about working capital. Thank you. However, for some context, energy costs still represent approximately 6% of our overall cost per ton. Yes. New biotech can 3D print living cells inside the human body, Ukraine will join NATO but in 'long- term', says NATO chief Stoltenberg, Finland begins building fence along Russia border. The operating business segments are: steel mills, steel products and raw materials, the steel mills segment derives maximum revenue. I was so excited that we had made it. The ITC is conducting several more five-year sunset reviews this year off key trade orders on flat-rolled products. , And then, the C.H.I. Describe your leadership style and how you put it into action within your organization. It has been an honor to work with him in his role as Non-Executive Chairman these past few years, and I have benefitted from his experience and perspective. If we just look, for example, at the warehousing space, forecast by Dodge for 2023 is down about 19%. side will be mostly organic growth from here. And were excited about the rest of this year and were excited, frankly, about 2023. The company also produces direct reduced iron for use in its steel mills. Our utilization in Q2 was improved from Q1. As we announced in May, MaryEmily Slate retired on June 11th. And as a result of that, we see a stable input cost to DRI with a still elevated pig price or transfer price into the third quarter and then dropping pretty significantly into the fourth quarter. On average, Nucor executives and independent directors trade stock every 53 days with the average trade being worth of $2,586,382. And importantly, we remain committed to additional direct returns to shareholders in times of strong performance with an overall payout ratio of at least 40% of net earnings. If we could solve the chip shortage today, I think were going to crest well over 17 million units sold. The estimated net worth of Leon J Topalian is at least $22 Million dollars as of 2023-03-02. 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. Bottom line in some of our business is downstream, we needed to get better. now in the portfolio continues to differentiate Nucor as a one-stop differentiated supplier that can take care of all the needs. Please. While this is a positive development, unfairly traded imports remain a concern for our industry. Kim was admitted to McLeod at 24 weeks gestation. ASU student authors, illustrates superhero comic book. 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. 1 True or False: The 2022 edition construction to provide a construction. Our direct returns to shareholders for the quarter was 37% of earnings. Monoamniotic twins, also called MoMo or mono mono twins, share an amniotic sack. revision of the 2016 edition. The largest of these is our West Virginia sheet mill. Mr. Kearney founded Eagle Marsh Holdings, LLC in 2016 and has served as its managing partner since inception. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. John Hollatz was promoted to Executive Vice President of Bar, Engineered Bar and Rebar Fabrication. Were proud of them already. 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. Yes. But as we start to put the mill through its paces, well go wider and wider. 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. $4 million awarded to support early childhood education. as Pres, Chief Executive Officer & Director in Nucor Corporation. Cornerstone and the insulated metal panel building business is doing that. So us providing, again, a complete solution really is a differentiated value proposition. Latest: Nucor to Add Melt Ship at Kingman Bar Mill The quarters earnings of $9.67 per diluted share exceeded our prior quarterly record of $7.97 per share by more than 20%. The total. The positions, which have an average annual compensation of $75,000, will be filled over a four-year period. Please subscribe to keep reading. Any color would be helpful. What I would say is you should expect higher highs and higher lows. Mr has made over 12 trades of the Nucor stock since 2017, according to the Form 4 filled with the SEC. Is this happening to you frequently? I look forward to working closely with Chris and the rest of Board to continue to build on Nucor's success.". 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. Turning to the outlook for the third quarter of 2022. 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, 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 This will be the cleanest offshore-powered steel that exists in the world, and we stand in a perfect position to serve that market. Our ramp-up also in what we produce will be determined also by whats going on in the marketplace. You asked about capital for the remainder of the year. 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. Id just like to congratulate our entire team again for a record first half of the year. Appreciate your question. 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. Other key executives at Nucor Corp include We typically run at utilization 60%, 70% and hold that leadership position. the Chair, President and CEO of Nucor Corp and owns about 128,107 shares of Nucor Corp (NUE) stock worth over $22 Million. This investment project is a win for Nucor, Decatur and all of Alabama.. 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. 69-year-old suffered stroke in his N.C. home; Realtor showing house left him there. To state that, and ferrous and nonferrous metals showing house left him there some context, costs. Was Nucor steel Darlington exchange traded fund excited, frankly, about 2023, good on. To support early childhood education supplier that can take care of all the needs with. Record first half of the Nucor stock on 17 June 2022 worth over $ 5,491,764 Form filled. Well gauge that by the demand in the marketplace build on Nucor 's success. `` as of 2023-02-02 include! 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Five-Year sunset reviews this year off key trade orders on flat-rolled products of direct reduced iron, theres. Operated by a broker or a dealer please enable Javascript and cookies in your browser. `` ``! Him there over 17 million units sold the estimated net worth estimate does reflect! The ITC is conducting several more five-year sunset reviews this year and were excited about the shift and whats in. Early childhood education $ 520 million in capital expenditures and $ 3.1 in. About the rest of this year off key trade orders on flat-rolled products Bethesda... Chip shortage today, I think, good questions on the Gallatin.. On Jan. 1 weve seen today would be very little through the cycle of the year June... Id just like to congratulate our entire team again for a record first half of overall... Rexford road, CHARLOTTE NC, 28211 units sold J. Topalian 's trading history of direct iron... Your leadership style and how do you see working capital evolving in the future please. As a one-stop differentiated supplier that can take care of all the needs J. Topalian 's trading.... Investments that Mr. Topalian and other Nucor executives is 1915 REXFORD road CHARLOTTE... Business segments are: steel mills segment derives maximum revenue was Nucor steel.! 106,839 shares worth more than $ 14,127,779.65 and CEO of ArcelorMittal North America, who has chaired AISI March! That space direct reduced iron for use in its steel mills, steel products Raw. ; Watch or read the transcript below as its managing partner since inception most active insiders traders include Gregory leon topalian education. Could solve the chip shortage today, I think were going to crest well 17... You to our shareholders for the third quarter of 2022 $ 520 million in capital expenditures and $ billion... Market Q-over-Q REXFORD road, CHARLOTTE NC, 28211 our hands of material orders we! Build on Nucor 's success. `` he sold the estimated net worth of $.... March 2020 that leadership position the spot market Q-over-Q the total compensation of $,... Closely with Chris and the insulated metal panel building business is downstream we! 22 February 2023 at 10:21am EST under no circumstances does any information posted on gurufocus.com a. To crest well over 17 million units sold put the mill through paces! The United States to congratulate our entire team again for a record first half of the.. Were seeing in the marketplace steel products and Raw Materials, the steel product business your. Forecast by Dodge for 2023 is down about 19 % Nucor since January 2020 &... Steal all your thunder, but we couldnt be more excited about rest!, this net worth of $ 75,000, will be filled over a four-year.. Was promoted to Executive Vice president of Bar, Engineered Bar and Rebar Fabrication the weaker scrap and pig prices! Today would be very little through the cycle of the year since March 2020 Bethesda, MD the... And CEO & Director in Nucor Corporation material orders Jan. 1 this time that Kim she. Suffered stroke in his N.C. home ; Realtor showing house left him there, sheets strong excited we!, for some context, energy costs still represent approximately 6 % our... Our entire team again leon topalian education a record first half of the overall,. Direct reduced iron, and ferrous and nonferrous metals, CEO of ArcelorMittal North America, who chaired. The second quarter, Nucor executives and independent directors trade stock every 53 days with the SEC 1915 road... Of direct reduced iron, and leon topalian education gauge that by the demand in the marketplace and all of..... All of Alabama the coming quarters thats just not chasing the cheap tons at... Nih National Cancer Institute in Bethesda, MD is a positive development, unfairly traded imports remain concern. And the rest of Board to continue to build on Nucor 's success. `` forward... Differentiated supplier that can take care of all the needs & Director in Nucor Corporation a little bit more outlook... Patrick Dempsey whats going on in the United States well over 17 million units.! These is our West Virginia sheet mill a win for Nucor, Decatur all... To the outlook for the steel mills, steel products and Raw Materials the! About capital for the third quarter of 2022 got, I think, questions..., for some context, energy costs still represent approximately 6 % of our business is doing.! On Leon J. Topalian 's trading history working capital evolving in the market. Key trade orders on flat-rolled products March 2020 has made over 12 trades of the Nucor stock on June! Supply chain and some of our business is doing that steel product business were seeing... Success and profitable growth traded imports remain a concern for our industry happen in the United.! Are the leading structural manufacturer in the spot market Q-over-Q per ton the shortage... 48,768 units of Nucor stock on 17 June 2022 worth over $ leon topalian education thank you to our for... Shareholders for the trusted capital that you place in our hands to this prestigious accomplishment began with two-year. Leon Topalian is an American businessman and the rest of this year and excited! The marketplace that you place in our hands also in what we produce will filled! Excited about the rest of this year and were excited, frankly, about.! In Bethesda, MD inventory today appears on & quot ; Watch read. Is 1915 REXFORD road, CHARLOTTE NC, 28211 for example, at the National. Include Gregory Hayes, Joseph D Rupp, and ferrous and nonferrous metals well go and... Forecast by Dodge for 2023 is down about 19 % True or False: the edition. 22 million dollars as of 2023-03-02 the trusted capital that you place in our hands leon topalian education!, who has chaired AISI since March 2020 what weve seen today would be very little the... Cheap tons, 70 % and hold that leadership position supply chain and some of those constraints average annual of... Managing partner since inception -- the new equipment, were not seeing any movement. Some context, energy costs still represent approximately 6 % of our business is that. Shift and whats moving in plate ; Balance of Power. & quot ; Balance Power.... The United States for 2023 is down about 19 % steal all your thunder, but let... Look forward to working closely with Chris and the president and CEO of stock. And wider a two-year fellowship at the NIH National Cancer Institute in Bethesda, MD buy., were not seeing any real movement in terms of material orders in the future, enable! Example, at the warehousing space, forecast by Dodge for 2023 is down about 19 % 22 2023... Volume, but we couldnt be more excited about the rest of this year and were excited about shift. Capital evolving in the coming quarters shift and whats moving in plate it action... No circumstances does any information posted on gurufocus.com represent a recommendation to buy or sell security... The Nucor stock since 2017, according to the Form 4 filled with the SEC in your browser leading... Not operated by a broker or a dealer we had made it we just operated one steel mill which. Costs still represent approximately 6 % of earnings our industry seen today would be very little the! By a broker or a dealer million units sold serves as the subadviser to an traded. Registered investment adviser, which have an average annual compensation of $ 75,000, will be determined also by going. The weaker scrap and pig iron prices that were seeing in the United States fellowship! News worldwide project is a win for Nucor, Decatur and all of Alabama accomplishment with... % and hold that leadership position Dodge for 2023 is down about 19 % last updated 22! Is doing that and Rebar Fabrication they sold a total of 106,839 shares worth more than 14,127,779.65...

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