Nucor Corp NUE
Q2 2013 Earnings Call Transcript

Transcript Call Date 07/18/2013

Operator: Good day everyone and welcome to the Nucor Corporation's Second Quarter of 2013 Earnings Conference 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 the 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 day, 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 now like to turn the call over to Mr. John Ferriola, Chief Executive Officer and President of Nucor Corporation. Please go ahead.

John J. Ferriola - CEO: Thank you, Dana. Good afternoon. This is John Ferriola, Nucor's Chief Executive Officer and President. Thank you for joining us for our conference call. As always, we appreciate your interest in Nucor.

With me for today's call are the other members of Nucor's senior leadership team. Dan Dimicco, our Executive Chairman; Jim Frias, our Chief Financial Officer; and Executive Vice Presidents, Jim Darsey, Ladd Hall, Ray Napolitan and Joe Stratman; Executive Vice President, Keith Grass is travelling today.

First and most importantly, we want to thank everyone on our teams at Nucor, Harris Steel and David J. Joseph, Duferdofin, NuMit Steel Technologies and Skyline Steel with your hard work taking care of all of our customers in what is now the fifth consecutive year of extremely challenging steel market and economic conditions.

You have built and continue to build a stronger Nucor by working safely, working smart and working together. More than 22,000 men and women of the Nucor team are our Company’s greatest asset and our greatest competitive advantage. You are the right people doing the right things every day. Thank you all.

While steel markets remained challenging, we have a number of exciting updates to share with you today on our success in growing Nucor’s long-term earnings power. Nucor is in a position of strength in our industry and we are growing strongly. We are primed and ready for the inevitable steel industry's cyclical upturn.

I’ll now ask our CFO, Jim Frias, to discuss our second quarter results and financial position. Following Jim, I will discuss the execution on many of our initiatives focused on profitable growth. Jim?

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