Nucor Corp. (NUE) Q1 2022 Earnings Call Transcript

For the period ending April 2, 2022

April 21, 2022 2:00 p.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good day, everyone, and welcome to the Nucor Corporation First Quarter of 2022 Earnings Call. As a reminder, today's call is being recorded. Later, we will conduct a question-and-answer session and instructions will come at that time.

Certain statements made during the conference will be forward-looking statements that involve risks and uncertainties. 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 management's current expectations and information that is currently available. Although Nucor believes they are based on reasonable assumptions, there can be no assurance that future events will not affect their accuracy.

More information about the risks and uncertainties relating to these forward-looking statements may be found in Nucor's latest 10-K and subsequently filed 10-Qs, which are available on the SEC's and Nucor's website. 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.

For opening remarks and introductions, I would like to turn the call over to Mr. Leon Topalian, Chief Executive Officer of Nucor Corporation. Please go ahead.

Leon Topalian - President, CEO & Director

Good afternoon, and welcome to our first quarter earnings call. I'd like to begin the call by introducing our new Chief Financial Officer, Steve Laxton. During the first quarter, we announced the retirement of Jim Frias and the appointment of Steve to the role of CFO.

Steve began his career in Nucor in 2003 and has spent the last 8 years as our Vice President of Business Development. We're excited for Steve's future as CFO and welcome him to the executive team. And you'll be hearing from Steve in a few minutes about our first quarter financial performance.

I'd also like to take the opportunity to thank Jim Frias for his 30 years with Nucor. He has had a tremendous impact on me, our team and our company, and we wish Jim and his wife, Sharon, and family the very best in his upcoming retirement.

Also joining us on the call today are members of the Nucor executive team, including Dave Sumoski, our Chief Operating 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; Dan Needham, responsible for bar, engineered bar and rebar fabrication; Rex Query - EVP, responsible for sheet and tubular products; MaryEmily Slate, responsible for our enterprise, commercial strategy; and Chad Utermark, responsible for fabricated construction products.