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. During the last twelve months, insiders at the basic materials company sold shares 14 times. So very excited, very proud of that team. Remember to Order Ahead (681)-265-9368 CALL IN ORDERS. Year-to-date, it is 43%. Nucor and its affiliates are manufacturers of steel and steel products, with operating facilities in the United States, Canada and Mexico. And in some of our businesses, our backlogs are still at record levels. Thanks. 2004-2023 GuruFocus.com, LLC. Is this happening to you frequently? 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? This segment also engages in the piling distribution business. Investors are already flocking there for a chance at 1,000%+ returns. , 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 in May, the State of West Virginia approved the air quality permit for our new sheet mill in Mason County. So just a big shout-out to all of our downstream product groups. But well gauge that to what the market is doing off of that. We look forward to rapidly scaling up their operations as we continue to broaden our portfolio of construction market solutions. Executive Vice President John J Hollatz He also serves as a director of Otis Worldwide Corporation (having previously served as Executive Chairman of the Otis board of directors from 2020 to 2022) and served as a director of UTC from 2018 to 2020, prior to the spin-off of Otis from UTC. 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). Get up-to-the-minute news sent straight to your device. But for Gallatin, completed our second quarter outage. After the tour, Dr. Bridges sat down with us and went over the statistical facts of survival rates. Thank you for your interest in Nucor. Let me start off with our steel products businesses. Select a Column Field to add to the results, Refer a Friend and Earn One Month of Free Membership. Explore the city's history and join us for an exclusive event at the Smithsonian's National Museum of African American History and Culture. He appears on "Balance of Power." Watch or read the transcript below. We look forward to working with them to make sure this venture is successful, said Long. He also serves as a director of Otis Worldwide Corporation (having previously served as Executive Chairman of the Otis board of directors from 2020 to 2022) and served as a director of UTC from 2018 to 2020, prior to the spin-off of Otis from UTC. sale Rex, do you want to touch on the Gallatin question? Contributions from tubular products and metal buildings were aided by both, higher volumes and higher pricing during the quarter. 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. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The total. The ITC is conducting several more five-year sunset reviews this year off key trade orders on flat-rolled products. sale You have permission to edit this article. Nucor's insider roster includes Allen Behr (EVP), Craig Feldman (EVP), James Frias (CFO), Douglas Jellison (EVP), Michael Keller (Insider), Raymond Napolitan, Jr. (EVP), Daniel Needham (EVP), Kenneth Query (EVP), MaryEmily Slate (EVP), David Sumoski (COO), Leon Topalian (CEO), and D. Utermark (EVP). Mr. Kearney was also director of Polypore International, Inc. from 2012 to 2015. It sounds like the C.H.I. 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. 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. Nucor is North America's largest recycler. As Leon mentioned, we have multiple businesses from joist and deck, rebar fab, steel piling, racking, tubing, insulated panel, grading. 200 units of NUE stock worth $26,947 on 20 Dec 2022. Leon J Topalian is the Executive Vice President of Nucor Corp. 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. Strong financial results were recorded by a number of our businesses, including bar, plate, sheet, structural, joist, deck, buildings, tubular and our raw material operations. 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 . Were already expanded -- have expanded our slab with beyond original capabilities. 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. Both Ray Long, chairman of the Morgan County Commission, and Decatur Mayor Tab Bowling said they are excited by the job opportunities being created by Nucors investment project. It was around this time that Kim discovered she was pregnant. Over the last couple of years, thats improved markedly in 21, peaked at [Technical Difficulty] 90s. I know you said that you were looking to shore up maybe more overhead garage stores to kind of get more critical mass like you did with the tubulars -- structural tubing in the past. As we execute on our mission statement, to grow the core, expand beyond and live our culture, these investments are excellent examples of what we look for and expand beyond businesses. So us providing, again, a complete solution really is a differentiated value proposition. Ill just say from a very high level before I turn it to Al that one of the unique opportunities that we have, particularly in structural, is the market share position that we have. We really think that will start in earnest in early 23 and really begin to progress throughout the year 2023. 69-year-old suffered stroke in his N.C. home; Realtor showing house left him there. stock. 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%. , Il s'agit d'un socit dont la forme juridique est Le code d'activit . Nearly 150,000 sets of twins are born each year. John J. Ferriola retired at the end of 2019, and was succeeded by longtime Nucor executive Topalian as CEO and president from January 2020. And the other was to ask about follow-up to the garage door acquisition. Although Nucor believes they are based on reasonable assumptions, there can be no assurance that future events will not affect their accuracy. Regarding the C.H.I. Any color would be helpful. While this is a positive development, unfairly traded imports remain a concern for our industry. As insider, Mr. Leon J. Topalian owns shares in one company: Nucor Corporation manufactures and sells steel and steel products. Mr. Leon J. Topalian has made 14 insider trades between 2017-2022, according to the Form 4 filled with the SEC. Is it possible to get an update on how you see CapEx for the remainder of the year, maybe first look at 2023? $37,370,000 in Nucor Corporation We remain confident that with the capital we retain and deploy, we are building a more resilient, more profitable or more cash-generative Nucor. Id just like to congratulate our entire team again for a record first half of the year. 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. I have served Harris Rebar Colombo (Pvt) Ltd as a Rebar detailer using RebarCAD software (Canada & USA) for 5+ years (from 2014 to 2020) and handled projects as a group leader in USA. Our raw materials segment outperformed first quarter results on the back of increasing selling prices for DRI and scrap. Theres no overhang or buildup of pigs. Section 2.2 as "other steel, iron, or. Thanks, Curt. So, were doing a full thickness slab now in a new slab, 130-millimeter. Hey Carlos, how are you doing? 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. Next, well hear from Carlos De Alba of Morgan Stanley. Our ramp-up also in what we produce will be determined also by whats going on in the marketplace. Please subscribe to keep reading. Also joining me today on the call are members of the Nucors executive team, including Dave Sumoski, our Chief Operating Officer; Steve Laxton, our Chief Financial Officer; Al Behr, responsible for Plate and Structural Products; Doug Jellison, responsible for Raw Materials and Logistics, Greg Murphy, responsible for Business Services and our General Counsel; and Rex Query, responsible for Sheet and Tubular Products. We went through the whole process two long years and got so close to adopting two beautiful children but it unfortunately fell through, Kim said. So, having C.H.I. The corporate mailing address for Mr. Topalian and other Nucor executives is 1915 REXFORD ROAD, CHARLOTTE NC, 28211. So, our utilization may have ticked down just slightly in the structural side. Insiders at Nucor own 0.5% of the company. The estimated Net Worth of Leon J Topalian is at least $36.3 Million dollars as of 20 December 2022. When the Topalians arrived for their tour of the Neonatal Intensive Care Unit (NICU), the entire staff had been debriefed on their situation. 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. Just trying to square that with the volumes being lower year-over-year. January 25 2023 - 09:00AM PR Newswire (US) CHARLOTTE, N.C., Jan. 25, 2023 /PRNewswire/ -- In conjunction with Nucor's (NYSE: NUE) fourth quarter earnings release, you are invited to listen to its. of of 57,932 shares. Finally, todays headlines are full of concerns regarding inflation, interest rate hikes and whether well experience a recession. 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