| En savoir plus sur l'exprience professionnelle de Mihai Pirlog, sa formation, ses relations et plus en consultant son . 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. Insiders at Nucor own 0.5% of the company. That makes sense. "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. of 57,932 shares. Please go ahead, sir. 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. 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. 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Groundbreaking for the project will happen later this year. Leon Topalian best website builder Nucor has introduced Elcyon, the company's new sustainable heavy gauge steel plate product made specifically to meet the growing demands of America's . As Leon mentioned, this years second quarter was the best quarterly financial performance in our companys history. 1 True or False: The 2022 edition construction to provide a construction. My first question is just around the infrastructure package that should start to really accelerate in 2023. Please. [1] References [ edit] ^ Henderson, Bruce (6 September 2019). "These changes reflect the thoughtful, planned transition of leadership at Nucor.". Our raw materials segment outperformed first quarter results on the back of increasing selling prices for DRI and scrap. 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. He also receives $1,670,000 Mr. Topalian owns 126,809 shares of Nucor stock worth more than $21,651,369 as of March 1st. Prices in the steel segment have softened due to import pressures coupled with overall commodity pricing declines globally. 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. Products produced include: carbon and alloy steel -- in bars, beams, sheet and plate; hollow structural section tubing; electrical conduit; steel piling; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; precision castings; steel fasteners; metal building systems; steel grating; and wire and wire mesh. The quarters earnings of $9.67 per diluted share exceeded our prior quarterly record of $7.97 per share by more than 20%. We spent about $1 billion so far. So, having C.H.I. Pepperoni Grill. Our July 12, 1972, news release announcing the listing gave our firms business description as "The nations largest producer of steel joists." 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. The sentiment around that part of the market is perhaps, I would say more pessimistic than what the reality is. $37,370,000 in Nucor Corporation Fundamental company data provided by Morningstar, updated daily. So, that was how we handled that, took care of customers through supply from other mills. And youd asked about working capital. Couldnt be more excited about Dave Banger and his leadership team, the entire C.H.I. 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. And in some of our businesses, our backlogs are still at record levels. After the tour, Dr. Bridges sat down with us and went over the statistical facts of survival rates. I think it will get richer as we move forward. more than 21 years with Nucor. But the overall market is still incredibly strong, and theres a lot to be optimistic about in that space. Turning to the outlook for the third quarter of 2022. 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. 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 . And Ill let you take a best guess at that. Its delivering uncompromising results in every area of our business and doing that while maintaining the safety, health and wellbeing of our team. 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. Leon and Kim Topalian were raising two tweens when they felt a calling to foster two more children. Hey Chad, one thing Ill add and just maybe a further point, Carlos, to share some of this. on 26 Mar 2021. It was around this time that Kim discovered she was pregnant. We are excited to launch our expansion of this new Nucor business in the State of Alabama.. You may now disconnect. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. They remain strong with strong backlogs. Past performance is a poor indicator of future performance. revision of the 2016 edition. So I guess you cant hear my excitement, Ill reiterate, yes, Im excited about the future of our downstream businesses. 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 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. Leon J Topalian owns 128,107 shares of Nucor Corp (NUE) as of December 20, 2022, with a value of $22 Million. GuruFocus.com is not operated by a broker or a dealer. sale They remain a bit cautious with their buys. 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. Please disable your ad-blocker and refresh. And were excited about the rest of this year and were excited, frankly, about 2023. Nucor Corp manufactures steel and steel products. Seth, thanks for the question. Leon Topalian is an American businessman and the president and CEO of Nucor since January 2020. Our capital allocation priorities remain unchanged. 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. Mr. Leon J. Topalian salary is $5,950,000 per year But our market share position remains strong. So thanks for the question. We really had to struggle with that fear and we finally just had to let it go, she said tearing up. 200 units of NUE stock worth $26,947 on 20 Dec 2022. Thank you for delivering on our mission and making 2022 the safest, cleanest and most profitable year in our history. I will ask Rex Query, our EVP of Sheet and Tubular, to give an update on Gallatin. The company's Raw Materials segment produces direct reduced iron (DRI); brokers ferrous and nonferrous metals, pig iron, hot briquetted iron, and DRI; supplies ferro-alloys; and processes ferrous and nonferrous scrap metal, as well as engages in the natural gas drilling operations. $4 million awarded to support early childhood education. 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. The most-recent trade in Nucor Corp is the Name Total COMPENSATION; Christopher J. Kearney: Last updated: 22 February 2023 at 10:21am EST. sale Yes. Section 2.2 as "other steel, iron, or. So, with regard to Gallatin, if I look at your sheet tons, youre running -- run rate less than a year ago levels. On average, Nucor executives and independent directors trade stock every 51 days with the average trade being worth of $2,903,263. What I would say is you should expect higher highs and higher lows. So, now that the outage is complete, equipment is installed, our run rate will ramp up, and were putting the equipment through its paces. These state-of-the-art features will increase Nucor Towers & Structures capabilities to provide engineered solutions for utility infrastructure and construction projects. As of the end of June, Nucor had debt to capital of 29% and ample liquidity with $2.5 billion of cash, short-term holdings and restricted cash holdings and an undrawn $1.75 billion in revolving credit facility. Learn More on Leon J. Topalian's trading history. Turning to policy issues. 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). 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. So, in terms of the volumes, yes, its coming off 19%. The company also produces direct reduced iron for use in its steel mills. As of March 1st Chad, one thing Ill add and just maybe a further point, Carlos, share... A lot to be optimistic about in that space the infrastructure package that should to... 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