That segment produced $1.1 billion in operating profits for the quarter. 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. And again, well have the capability. Nucor Corporation. Turning to our financial performance. ( View post) Feb 23. My first question is just around the infrastructure package that should start to really accelerate in 2023. That makes sense. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. What is the composition of these basically stable operating results? 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. That will happen during the third quarter. Also during the second quarter, we completed our purchase of C.H.I. And the third, our new state-of-the-art plate mill in Brandenburg, Kentucky is anticipated to start at the end of the year. Now, there may be some things that were looking at that I cant get into that would be very, very small that might be complementary, but we -- our eggs are in the C.H.I. And weve got, I think, good questions on the Gallatin front. 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. This net worth estimate does not reflect any other investments that Mr. Topalian may own. 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. 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. We welcome John to the executive team. Any color would be helpful. Our capital allocation priorities remain unchanged. sale We had some outages with Gallatin as we were installing this equipment. Next, well hear from Emily Chieng of Goldman Sachs. Monoamniotic twins, also called MoMo or mono mono twins, share an amniotic sack. These orders are critical to market stability and industry performance and are an important part of our governments trade enforcement toolkit. I want to thank our 31,000 teammates for these fantastic results. Offsetting some of the benefits of the stronger metal margins we have been realizing over the past several quarters are some cost pressures from higher electricity and natural gas pricing. 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. The estimated net worth of Mr. Leon J. Topalian is at least $50,405,624 as of 20 Dec 2022. Is there any sort of renewed or early signs of renewed appetite to reengage here? "I want to thank John for his numerous contributions to Nucor. Since entering the steel business, we have focused on growing long-term earnings power and shareholder value. "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. Most recently, Leon J. Topalian sold 3,000 shares of the business's stock in a transaction on Tuesday, December 20th. The operations include international trading and sales companies that buy and sell steel and steel products manufactured by the company and others. The largest trade he's "These changes reflect the thoughtful, planned transition of leadership at Nucor.". So were beyond 68 inches now. offer you some insulation from the traditional cyclicality of steelmaking. If we just look, for example, at the warehousing space, forecast by Dodge for 2023 is down about 19%. We appreciate the support we have received from the state and local officials in Alabama, including Governor Kay Ivey, Alabama Department of Commerce, State of Alabama State Industrial Development Authority, Morgan County Economic Development Association, Morgan County Economic Development Cooperative District, Morgan County, Decatur Industrial Development Board, City of Decatur, Decatur-Morgan County Chamber of Commerce, Hartselle Chamber of Commerce, and the Tennessee Valley Authority, said Laurent De Mey, General Manager of Nucor Towers & Structures. The companys capital investment in Decatur includes land improvements, construction of a new building and manufacturing equipment. But the overall market is still incredibly strong, and theres a lot to be optimistic about in that space. 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. Quick summary, all our primary steelmaking equipment has been purchased. Fri, Dec 9 20227:06 PM EST. So, having C.H.I. It is difficult to recall everything we went through because now they are healthy and running around, Leon said. The largest trade he's ever made was selling 48,768 units of Nucor stock on 17 June 2022 worth over $5,491,764. And in some of our businesses, our backlogs are still at record levels. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Mr. Topalian was named President and Chief Executive Officer effective January 1, 2020. Nucor is North America's largest recycler. John J. Ferriola retired at the end of 2019, and was succeeded by longtime Nucor executive Topalian as CEO and president from January 2020.[1]. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Officials in Morgan County welcome Nucors growth plans in the North Alabama community. Our utilization remains right where wed expect it. With the outages, we were a little bit under that at Gallatin, but we augmented that with other sheet mills in our group. Congress must get this important bipartisan priority across the finish line. It has an affiliated registered investment adviser, which serves as the subadviser to an exchange traded fund. Let me start off with our steel products businesses. Every one of those buildings has somewhere between 4 and 12 to 15 doors on every building. He died Wednesday. We absolutely expect in the fourth quarter to run at really nameplate capacity. So, we see a little bit probably leveling of pig prices through the third quarter declining into the fourth quarter. Get notified the next time Leon J. Topalian buys or sells Nucor stock. a net And then, Steve, if you would, on the CapEx? of 76,357. We expect these investments to generate at least $370 million of combined annual EBITDA, once fully ramped up at mid-cycle performance and considerably more in robust market conditions, like the ones were seeing now. Number one, weve been making some changes in our businesses through the years, and weve talked about some of those, from restructuring some of our business to bringing on a construction solutions team, even alignment within our groups to better, more effective commercial practices and expectations that drive higher EBITDA margins. 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. "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. Information on this page was last updated on 2/3/2023. And we remain really excited about the opportunities in structural as we talk to fabricators and we talk to the what I call the consumptive demand part of the market, the folks that are buying our steel and making something out of it is still really strong. As of 20 December 2022 he still owns at least 126,809 units of Nucor stock. Thank you. Maybe just exploring a little bit more the outlook for the steel product business. Yes. We are the leading structural manufacturer in the United States. 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. [Operator Instructions] And well first hear from Curt Woodworth of Credit Suisse. sale The new plant in Alabama will be highly automated, utilizing efficient straight-line production and will also include advanced hot-dip galvanizing operations. CHARLOTTE, N.C., Sept. 15, 2022 /PRNewswire/ -- Nucor Corporation (NYSE: NUE) announced today that its President and Chief Executive Officer, Leon J. Topalian, has assumed the additional role. These . 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. 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. 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. As Leon mentioned, this years second quarter was the best quarterly financial performance in our companys history. 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. Leon J Topalian around $404,130. 1 True or False: The 2022 edition construction to provide a construction. I wanted to ask two questions. Id just like to congratulate our entire team again for a record first half of the year. Thanks, Leon. Rex, do you want to touch on the Gallatin question? Nearly 150,000 sets of twins are born each year. Were already expanded -- have expanded our slab with beyond original capabilities. And as you may recall, original stated capacity for that mill, about 1.6 million tons. This investment project is a win for Nucor, Decatur and all of Alabama.. 62 | March 2021 Topalian takes over the role from John Brett, CEO of ArcelorMittal North America, who has chaired AISI since March 2020. So the pipeline is rich. Executive Vice President Noah C Hanners So just a big shout-out to all of our downstream product groups. Mr. Topalian has been President and Chief Executive Officer of Nucor and a member of its Board of Directors since 2020. And how deep is your pipeline of potential targets right now? And were not done. This investment adviser does not provide advice to individual investors. Once in the hospital, the couple and Kims physicians decided that they would deliver by caesarean section if she made it to 32 weeks. Before we get to our second quarter results, I want to highlight some changes weve made to our executive leadership team. In addition to that, were bringing on these new businesses in Expand Beyond. 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. As youre also aware, we closed on C.H.I. 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. Please note GuruFocus will not track the insiders transaction performance if he/she does not have buying transactions. 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. 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. And for every downturn, Nucor has gotten stronger and continue to invest that our cash flow position, the profits were generating today put Nucor in an ideal position to continue to be very deliberate and very strategic with long-term goals to enhance our shareholder value. 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. They serve growing markets and leverage Nucors core manufacturing capabilities and our safety and team-focused, incentive-driven, entrepreneurial culture. We have world-class manufacturing talent, and we are making the right investments to continue our track record of outperformance. And well be ramping up here third quarter. As of 20 Dec 2022 he still owns at least 126,809 units of NUE stock. They remain a bit cautious with their buys. Prior to that time, he held various leadership positions at Nucor,. You have permission to edit this article. stock. Formerly of Topalian's Newsagents, Grange . Over the past 18 months, We want the transfer price to reflect the market price into the steel mills, so that will reflect in those segment reporting. But how are market participants acting now? So, when we talk about the buildup to the start-up of Brandenburg by the end of this year in the markets, it will start to serve and open up for us in renewables like offshore wind and some, even specialty pipe work. The estimated net worth of Leon J Topalian is at least $22 Million dollars as of 2023-02-02. With her new goal in distant sight, Kim settled into her room on the Antepartum Unit for the next 53 days. And it mentioned that the Company also produces carbon and alloy steel. Before we get to our second quarter results, I want to highlight some changes we've made to our executive. Prices in the steel segment have softened due to import pressures coupled with overall commodity pricing declines globally. Look, I think so. And Id say thats just not chasing the cheap tons. 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. Groundbreaking for the project will happen later this year. Just trying to square that with the volumes being lower year-over-year. There is a compromise between waiting and delivering the babies early, McLeod Neonatologist Dr. Steve Bridges said. Curt, thank you for the question. Other recent insider transactions involving Nucor Corp (NUE) include Oh, Im sorry. Let me start with the back half and then, Rex, Ill turn it over to you. 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. The companys capital investment in Decatur includes land improvements, construction of a new and. Javascript and cookies in your browser enforcement toolkit buying transactions to square that with the half! 48,768 units of Nucor stock registered investment adviser does not have buying transactions and. 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