Nucor Corporation (NYSE:NUE) Q4 2019 Earnings Conference Call - Final Transcript

Jan 28, 2020 • 02:00 pm ET


Nucor Corporation (NYSE:NUE) Q4 2019 Earnings Conference Call - Final Transcript


Loading Event

Loading Transcript


Good day, everyone, and welcome to the Nucor Corporation Fourth Quarter of 2019 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 this conference call 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.

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

Leon J. Topalian

Good afternoon, and thank you for joining us for our fourth quarter earnings call. In my first call, as CEO of Nucor, I'm honored to have the opportunity to lead this company and to serve alongside the 27,000 men and women of Nucor, who inspire me every day. Joining me on the call today are the members of Nucor's executive team, including Jim Frias, our Chief Financial Officer; Craig Feldman, responsible for raw materials and logistics; Ladd Hall, responsible for flat-rolled products; Ray Napolitan, responsible for engineered bar products, as well as Nucor's digital initiatives; MaryEmily Slate, responsible for plate, structural and tubular products; Dave Sumoski, responsible for merchant bar and rebar products; and Chad Utermark, responsible for fabricated construction products.

I also want to thank John Ferriola for his leadership during the past seven years as CEO and the impact he has made over his 28 years with our company. We thank him for his many contributions to Nucor and wish him all the best in his retirement.

At Nucor, our greatest competitive advantage is our culture and the greatest measure of that culture is how we care for one another through the value of safety. 2019 was the safest year in our history and I would like to thank all of my teammates for achieving this tremendous result. Nucor is a continuous improvement company. Our challenge and opportunity is to achieve breakthrough improvements in this core value. Over the last several months, I have engaged our team to ask how we can continue to improve our performance in safety, and we plan to work together with our teammates to implement their ideas and strategies. I look forward to making 2020 an even safer year for Nucor together.

In 2019, Nucor recorded earnings of