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Nucor Reports Results for the Fourth Quarter of 2025

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Nucor (NYSE: NUE) reported consolidated net earnings attributable to Nucor stockholders of $378 million or $1.64 per diluted share for Q4 2025 and adjusted net earnings of $400 million or $1.73 per diluted share (ex-impairments). Q4 2025 net sales were $7.69 billion and EBITDA was $918 million. The quarter included $27 million of losses and impairments. At Dec 31, 2025, cash and short-term investments totaled $2.70 billion, long-term debt was $6.91 billion, and the company returned ~$1.2 billion to stockholders in 2025 via repurchases and dividends.

Management expects earnings to increase in Q1 2026 across all segments, with the largest gain in steel mills.

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Positive

  • Adjusted net earnings of $400M in Q4 2025
  • Net sales of $7.69B in Q4 2025
  • EBITDA of $918M for Q4 2025
  • Returned approximately $1.2B to stockholders in 2025

Negative

  • Q4 2025 net earnings down to $378M from $607M in Q3 2025
  • Losses and impairments of $27M in Q4 2025
  • Cash and short-term investments declined to $2.70B from $4.14B prior-year total
  • Long-term debt and finance lease obligations rose to $6.91B

Key Figures

Q4 2025 net earnings: $378 million; $1.64 diluted EPS Q4 2025 adjusted earnings: $400 million; $1.73 diluted EPS Q4 2025 net sales: $7.69 billion +5 more
8 metrics
Q4 2025 net earnings $378 million; $1.64 diluted EPS Fourth quarter of 2025 net earnings attributable to stockholders
Q4 2025 adjusted earnings $400 million; $1.73 diluted EPS Fourth quarter of 2025, excluding losses and impairments of assets
Q4 2025 net sales $7.69 billion Fourth quarter of 2025 consolidated net sales
Q4 2025 EBITDA $918 million Fourth quarter of 2025 EBITDA as defined by company
Cash & short-term investments $2.70 billion Cash, cash equivalents and short-term investments at end of Q4 2025
Revolving credit facility $2.25 billion undrawn Revolving credit facility, undrawn and expiring March 2030
Q4 2025 share repurchases 0.7 million shares at $145.23 Common stock repurchased during Q4 2025, average price per share
2025 capital returned $1.2 billion Total 2025 returns via share repurchases and dividends

Market Reality Check

Price: $177.66 Vol: Volume 2,364,069 is 1.54x...
high vol
$177.66 Last Close
Volume Volume 2,364,069 is 1.54x the 20-day average of 1,537,776, indicating elevated interest into this earnings release. high
Technical Shares at $177.66 trade 2.92% below the 52-week high of $182.999 and well above the 200-day MA of $139.69, reflecting a strong pre-news uptrend.

Peers on Argus

NUE is up 0.77% while key peers MT (-2.93%), STLD (-6.01%), RS (-1.92%), PKX (-2...

NUE is up 0.77% while key peers MT (-2.93%), STLD (-6.01%), RS (-1.92%), PKX (-2.10%) and TX (-3.20%) are down, pointing to a stock-specific reaction rather than a sector-wide move.

Common Catalyst Steel peers are in earnings season, with STLD also reporting fourth-quarter and annual 2025 results today.

Previous Earnings Reports

5 past events · Latest: Oct 27 (Positive)
Same Type Pattern 5 events
Date Event Sentiment Move Catalyst
Oct 27 Q3 2025 earnings Positive +3.9% Strong Q3 earnings, solid EBITDA and liquidity, plus continued shareholder returns.
Jul 28 Q2 2025 earnings Positive -2.7% Earnings recovery versus Q1 with higher shipments and operating rates.
Jun 18 Q2 2025 guidance Positive +3.3% Guided to sharply higher Q2 EPS with improvements across all segments.
Apr 28 Q1 2025 earnings Positive +1.9% Q1 recovery versus Q4 2024, higher shipments and constructive Q2 outlook.
Mar 20 Q1 2025 guidance Negative -5.8% Guided to much lower Q1 EPS versus prior year across key segments.
Pattern Detected

Earnings and guidance headlines typically see price moves that align with the news tone, with one notable divergence on a strong quarterly report.

Recent Company History

Across the last five earnings and guidance updates, Nucor moved from weaker results in Q1 2025 to stronger performance in Q2 and Q3 2025, supported by higher shipments, improved operating rates, and active buybacks. Guidance pieces on Q1 and Q2 framed expectations, including a sharp Q1 earnings reset and subsequent recovery. Today’s fourth quarter and full-year 2025 report, with net earnings of $378 million (EPS $1.64) on net sales of $7.69 billion, fits into this through-cycle narrative and confirms the previously signaled Q4 step-down versus Q3.

Historical Comparison

earnings
+3.5 %
Average Historical Move
Historical Analysis

Over the past five earnings and guidance headlines, NUE’s average next-day move was about 3.51%, framing how markets have typically reacted to similar updates.

Typical Pattern

Earnings in 2025 progressed from a weak <b>Q1</b> to stronger <b>Q2</b> and <b>Q3</b>, with guidance consistently flagging segment trends. The current Q4 and full-year 2025 report follows that sequence, confirming the anticipated Q4 moderation after a strong mid-year recovery.

Market Pulse Summary

This announcement details Q4 2025 net earnings of $378 million (EPS $1.64) on net sales of $7.69 bil...
Analysis

This announcement details Q4 2025 net earnings of $378 million (EPS $1.64) on net sales of $7.69 billion, plus EBITDA of $918 million. Management emphasizes strong liquidity with $2.70 billion in cash and short-term investments and an undrawn $2.25 billion revolving credit facility, while returning about $1.2 billion to shareholders in 2025. Investors may watch how segment volumes, margins, and large capital projects evolve against the demand outlook for 2026.

Key Terms

ebitda, non-gaap, revolving credit facility, forward-looking statements, +1 more
5 terms
ebitda financial
"Net earnings before noncontrolling interests of $423 million; EBITDA of $918 million"
EBITDA stands for earnings before interest, taxes, depreciation, and amortization. It measures a company's profitability by focusing on the money it makes from its core operations, ignoring expenses like taxes and accounting adjustments. Investors use EBITDA to compare how well different companies are performing financially, as it provides a clearer picture of operational success without the influence of financial structure or accounting choices.
non-gaap financial
"The Company uses certain non-GAAP (Generally Accepted Accounting Principles) financial measures"
Non-GAAP refers to financial measures that companies use to show their earnings or performance without including certain expenses or income that are often added back to give a different picture. It matters because it can make a company's results look better or more favorable, but it may also hide important costs, so investors need to look at both GAAP (official rules) and non-GAAP numbers to get a full understanding.
revolving credit facility financial
"The Company's $2.25 billion revolving credit facility remains undrawn and does not expire"
A revolving credit facility is a type of loan that a business can borrow from whenever it needs money, up to a set limit. It’s like having a credit card for companies—allowing them to borrow, pay back, and borrow again as needed, providing flexibility for managing cash flow or funding short-term expenses.
forward-looking statements regulatory
"Certain statements contained in this news release are "forward-looking statements" that involve risks"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
form 10-k regulatory
"Risk Factors" of Nucor's Annual Report on Form 10-K for the year ended December 31, 2024"
A Form 10-K is a comprehensive report that publicly traded companies are required to file annually with regulators. It provides a detailed overview of a company's financial health, operations, and risks, similar to a detailed health report. Investors use this information to assess the company's performance and make informed decisions about buying or selling its stock.

AI-generated analysis. Not financial advice.

Fourth Quarter of 2025 Highlights

  • Net earnings attributable to Nucor stockholders of $378 million, or $1.64 per diluted share
  • Adjusted net earnings attributable to Nucor stockholders of $400 million, or $1.73 per diluted share
  • Net sales of $7.69 billion
  • Net earnings before noncontrolling interests of $423 million; EBITDA of $918 million

CHARLOTTE, N.C., Jan. 26, 2026 /PRNewswire/ -- Nucor Corporation (NYSE: NUE) today announced consolidated net earnings attributable to Nucor stockholders of $378 million, or $1.64 per diluted share, for the fourth quarter of 2025. Excluding impairment charges taken during the quarter, Nucor's fourth quarter of 2025 adjusted net earnings attributable to Nucor stockholders were $400 million, or $1.73 per diluted share. By comparison, Nucor reported consolidated net earnings attributable to Nucor stockholders of $607 million, or $2.63 per diluted share, for the third quarter of 2025 and $287 million, or $1.22 per diluted share, for the fourth quarter of 2024.

Reflected in the fourth quarter of 2025 losses and impairments of assets are charges of $21 million, or $0.08 per diluted share, related to the closure or repurposing of certain facilities in the steel products segment. Also included in the fourth quarter of 2025 losses and impairments of assets are charges of $6 million, or $0.01 per diluted share, related to the impairment of certain non-current assets in the steel mills segment. 

"I want to thank our teammates for their tremendous work throughout 2025 - delivering for our customers, advancing key growth projects, and making this Nucor's safest year," said Leon Topalian, Nucor's Chair and Chief Executive Officer. "During the year, we brought several major projects online, including our new rebar micro‑mill in Lexington, North Carolina, the Kingman, Arizona melt shop, our Alabama Towers and Structures facility, and our coating complex in Crawfordsville, Indiana. As these and other recently completed projects ramp up, they are beginning to deliver meaningful earnings contributions and we believe they will play an important role in strengthening our earnings power over time.

"Looking ahead to 2026, we are encouraged by robust demand in several key end markets, historically strong backlogs, and federal policies that support a vibrant domestic steel industry. Our focus remains on execution and generating strong, through‑cycle returns for our shareholders."

Earnings Before Income Taxes and Noncontrolling Interests by Segment (In millions)



Three Months (13 Weeks) Ended



Twelve Months (52 Weeks) Ended




December 31, 2025



October 4, 2025



December 31, 2024



December 31, 2025



December 31, 2024


Steel mills


$

516



$

793



$

169



$

2,383



$

2,226


Steel products



230




319




329




1,229




1,596


Raw materials



24




43




57




153




40


Corporate/eliminations



(269)




(272)




(165)




(1,197)




(960)




$

501



$

883



$

390



$

2,568



$

2,902


Analysis of Fourth Quarter of 2025 Results Compared to the Third Quarter of 2025
The steel mills segment earnings decreased in the fourth quarter of 2025 due to lower volumes and margin compression, primarily in sheet. In the steel products segment, earnings declined in the fourth quarter on lower volumes and higher average costs per ton, partially offset by higher average realized pricing. The raw materials segment earnings decreased in the fourth quarter mainly as a result of two scheduled outages at our direct reduced iron facilities that were partially offset by insurance recoveries.

Financial Strength
At the end of the fourth quarter of 2025, Nucor had $2.70 billion in cash and cash equivalents and short-term investments on hand. The Company's $2.25 billion revolving credit facility remains undrawn and does not expire until March 2030. The Company continues to have the strongest credit ratings in the North American steel sector (A-/A-/A3) with stable outlooks at Standard & Poor's, Fitch Ratings and Moody's, respectively.

Commitment to Returning Capital to Stockholders
During the fourth quarter of 2025, Nucor repurchased approximately 0.7 million shares of its common stock at an average price of $145.23 per share (approximately 5.4 million shares during the full year 2025 at an average price of $128.66 per share). As of December 31, 2025, Nucor had approximately $406 million remaining authorized and available for repurchases under its share repurchase program. This share repurchase authorization is discretionary and has no scheduled expiration date.

On December 1, 2025, Nucor's Board of Directors declared a cash dividend of $0.56 per share. This cash dividend is payable on February 11, 2026, to stockholders of record as of December 31, 2025 and is Nucor's 211th consecutive quarterly cash dividend. Nucor has increased its regular, or base, dividend for 53 consecutive years – every year since it first began paying dividends in 1973.

For the full year of 2025, Nucor returned approximately $1.2 billion to stockholders in the form of share repurchases and dividend payments.

First Quarter of 2026 Outlook Compared to the Fourth Quarter of 2025
We expect earnings to increase in the first quarter of 2026. Earnings in the first quarter of 2026 are expected to increase across all three of our operating segments, with the largest increase in the steel mills segment.  In the steel mills segment, the expected increase is due to higher volumes and higher realized prices across all major product categories. In the steel products segment, we expect improved earnings in the first quarter due to increased volumes on stable pricing. The raw materials segment is expected to have increased earnings in the first quarter of 2026. 

Earnings Conference Call
An earnings call is scheduled for January 27, 2026 at 10:00 a.m. Eastern Time to review Nucor's fourth quarter and full year 2025 financial results and provide a business update. The call can be accessed via webcast from the Investor Relations section of Nucor's website (nucor.com/investors). A presentation with supplemental information to accompany the call has been posted to Nucor's Investor Relations website. A playback of the webcast will be posted to the same site within one day of the live event.

About Nucor
Nucor and its affiliates are manufacturers of steel and steel products, with operating facilities in the United States, Canada and Mexico. Products produced include: carbon and alloy steel -- in bars, beams, sheet and plate; hollow structural section tubing; electrical conduit; steel racking; steel piling; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; precision castings; steel fasteners; metal building systems; insulated metal panels; overhead doors; steel grating; wire and wire mesh; and utility structures. Nucor, through The David J. Joseph Company and its affiliates, also brokers ferrous and nonferrous metals, pig iron and hot briquetted iron / direct reduced iron; supplies ferro-alloys; and processes ferrous and nonferrous scrap. Nucor is North America's largest recycler.

Non-GAAP Financial Measures
The Company uses certain non-GAAP (Generally Accepted Accounting Principles) financial measures in this news release, including EBITDA, adjusted net earnings attributable to Nucor stockholders and adjusted net earnings per diluted share. Generally, a non-GAAP financial measure is a numerical measure of a company's performance or financial position that either excludes or includes amounts that are not normally excluded or included in the most directly comparable financial measure calculated and presented in accordance with GAAP.

We define EBITDA as net earnings before noncontrolling interests, adding back the following items: interest expense (income), net; provision for income taxes; losses and impairments of assets; depreciation; and amortization. We define adjusted net earnings attributable to Nucor stockholders as net earnings attributable to Nucor stockholders adding back losses and impairments of assets, net of tax and noncontrolling interests. We define adjusted net earnings per diluted share as net earnings per diluted share adding back the per diluted share impact of losses and impairments of assets, net of tax and noncontrolling interests. Please note that other companies might define their non-GAAP financial measures differently than we do.

Management presents the non-GAAP financial measures of EBITDA, adjusted net earnings attributable to Nucor stockholders and adjusted net earnings per diluted share in this news release because it considers them to be important supplemental measures of performance. Management believes that these non-GAAP financial measures provide additional insight for analysts and investors evaluating the Company's financial and operational performance by providing a consistent basis of comparison across periods.

Forward-Looking Statements
Certain statements contained in this news release are "forward-looking statements" that involve risks and uncertainties which we expect will or may occur in the future and may impact our business, financial condition and results of operations. The words "anticipate," "believe," "expect," "intend," "project," "may," "will," "should," "could" and similar expressions are intended to identify those forward-looking statements. These forward-looking statements reflect the Company's best judgment based on current information, and, although we base these statements on circumstances that we believe to be reasonable when made, there can be no assurance that future events will not affect the accuracy of such forward-looking information. As such, the forward-looking statements are not guarantees of future performance, and actual results may vary materially from the projected results and expectations discussed in this news release. Factors that might cause the Company's actual results to differ materially from those anticipated in forward-looking statements include, but are not limited to: (1) competitive pressure on sales and pricing, including pressure from imports and substitute materials; (2) U.S. and foreign trade policies affecting steel imports or exports; (3) the sensitivity of the results of our operations to general market conditions, and in particular, prevailing market steel prices and changes in the supply and cost of raw materials, including pig iron, iron ore and scrap steel; (4) the availability and cost of electricity and natural gas, which could negatively affect our cost of steel production or result in a delay or cancellation of existing or future drilling within our natural gas drilling programs; (5) critical equipment failures and business interruptions; (6) market demand for steel products, which, in the case of many of our products, is driven by the level of nonresidential construction activity in the United States; (7) impairment in the recorded value of inventory, equity investments, fixed assets, goodwill or other long-lived assets; (8) uncertainties and volatility surrounding the global economy, including excess world capacity for steel production, inflation and interest rate changes; (9) fluctuations in currency conversion rates; (10) significant changes in laws or government regulations affecting environmental compliance, including legislation and regulations that result in greater regulation of greenhouse gas emissions that could increase our energy costs, capital expenditures and operating costs or cause one or more of our permits to be revoked or make it more difficult to obtain permit modifications; (11) the cyclical nature of the steel industry; (12) capital investments and their impact on our performance; (13) our safety performance; (14) our ability to integrate businesses we acquire; and (15) the impact of any pandemic or public health situation. These and other factors are discussed in Nucor's regulatory filings with the United States Securities and Exchange Commission, including those in "Item 1A. Risk Factors" of Nucor's Annual Report on Form 10-K for the year ended December 31, 2024. The forward-looking statements contained in this news release speak only as of this date, and Nucor does not assume any obligation to update them, except as may be required by applicable law.

Consolidated Financial Statements

Condensed Consolidated Statements of Earnings (Unaudited)


(In millions, except per share data)




















Three Months (13 Weeks) Ended



Twelve Months (52 Weeks) Ended




Dec. 31, 2025



Oct. 4, 2025



Dec. 31, 2024



Dec. 31, 2025



Dec. 31, 2024


Net sales


$

7,687



$

8,521



$

7,076



$

32,494



$

30,734


Costs, expenses and other:
















Cost of products sold



6,825




7,333




6,449




28,616




26,632


Marketing, administrative and other expenses



334




300




240




1,219




1,123


Equity in earnings of unconsolidated affiliates



(11)




(10)




(6)




(35)




(30)


Losses and impairments of assets



27




-




-




67




137


Interest expense (income), net



11




15




3




59




(30)





7,186




7,638




6,686




29,926




27,832


Earnings before income taxes and noncontrolling interests



501




883




390




2,568




2,902


Provision for income taxes



78




200




45




530




583


Net earnings before noncontrolling interests



423




683




345




2,038




2,319


Earnings attributable to noncontrolling interests



45




76




58




294




292


Net earnings attributable to Nucor stockholders


$

378



$

607



$

287



$

1,744



$

2,027


Net earnings per share:
















Basic


$

1.64



$

2.63



$

1.22



$

7.53



$

8.47


Diluted


$

1.64



$

2.63



$

1.22



$

7.52



$

8.46


Average shares outstanding:
















Basic



229.3




229.9




234.0




230.7




238.3


Diluted



229.6




230.2




234.3




230.9




238.5


 

Condensed Consolidated Balance Sheets (Unaudited)

(In millions)

 



December 31,




2025



2024


ASSETS







Current assets:







Cash and cash equivalents


$

2,260



$

3,558


Short-term investments



439




581


Accounts receivable, net



3,105




2,675


Inventories, net



5,462




5,106


Other current assets



499




555


Total current assets



11,765




12,475


Property, plant and equipment, net



15,306




13,243


Goodwill



4,297




4,288


Other intangible assets, net



2,880




3,134


Other assets



856




800


Total assets


$

35,104



$

33,940


LIABILITIES AND EQUITY







Current liabilities:







Short-term debt


$

122



$

225


Current portion of long-term debt and finance lease obligations



90




1,042


Accounts payable



1,890




1,832


Salaries, wages and related accruals



882




903


Accrued expenses and other current liabilities



1,020




975


Total current liabilities



4,004




4,977


Long-term debt and finance lease obligations due after one year



6,909




5,683


Deferred credits and other liabilities



2,067




1,863


Total liabilities



12,980




12,523


Commitments and contingencies







Equity







Nucor stockholders' equity:







Common stock



152




152


Additional paid-in capital



2,253




2,223


Retained earnings



31,504




30,271


Accumulated other comprehensive loss, net of income taxes



(194)




(208)


Treasury stock



(12,779)




(12,144)


Total Nucor stockholders' equity



20,936




20,294


Noncontrolling interests



1,188




1,123


Total equity



22,124




21,417


Total liabilities and equity


$

35,104



$

33,940


 

Condensed Consolidated Statements of Cash Flows (Unaudited)

(In millions)

 



Year Ended December 31,




2025



2024


Operating activities:







Net earnings before noncontrolling interests


$

2,038



$

2,319


Adjustments:







Depreciation



1,226




1,094


Amortization



254




262


Stock-based compensation



133




132


Deferred income taxes



161




(116)


Distributions from affiliates



46




25


Equity in earnings of unconsolidated affiliates



(35)




(30)


Losses and impairments of assets



47




137


Changes in assets and liabilities (exclusive of acquisitions and dispositions):







Accounts receivable



(428)




319


Inventories



(366)




518


Accounts payable



80




(321)


Federal income taxes



124




97


Salaries, wages and related accruals



2




(385)


Other operating activities



(48)




(72)


Cash provided by operating activities



3,234




3,979


Investing activities:







Capital expenditures



(3,422)




(3,173)


Investment in and advances to affiliates



(1)





Sale of business






1


Disposition of plant and equipment



45




17


Acquisitions (net of cash acquired)



(2)




(758)


Purchases of investments



(985)




(1,296)


Proceeds from the sale of investments



1,140




1,487


Other investing activities



(1)




(12)


Cash used in investing activities



(3,226)




(3,734)


Financing activities:







Net change in short-term debt



(102)




105


Proceeds from issuance of long-term debt, net of discount



1,217





Repayment of long-term debt



(1,015)




(10)


Bond issuance costs



(9)





Proceeds from exercise of stock options



5




4


Payment of tax withholdings on certain stock-based compensation



(32)




(53)


Distributions to noncontrolling interests



(249)




(352)


Cash dividends



(512)




(522)


Acquisition of treasury stock



(700)




(2,217)


Proceeds from government incentives



77





Other financing activities



5




(13)


Cash used in financing activities



(1,315)




(3,058)


Effect of exchange rate changes on cash



9




(16)


Decrease in cash and cash equivalents



(1,298)




(2,829)


Cash and cash equivalents - beginning of year



3,558




6,387


Cash and cash equivalents - end of year


$

2,260



$

3,558


Non-cash investing activity:







Change in accrued plant and equipment purchases


$

(26)



$

115


 

Select Financial and Operational Data

 















(Dollars in millions, tons in thousands, per unit amounts as noted)




















Three Months (13 Weeks) Ended



Twelve Months (52 Weeks) Ended




Dec. 31,
2025



Oct. 4,
2025



%
Change



Dec. 31,
2024



Year Ago
% Change



Dec. 31,
2025



Dec. 31,
2024



%
Change


Consolidated Financial & Operational Data

























Net Sales


$

7,687



$

8,521




-10

%


$

7,076




9

%


$

32,494



$

30,734




6

%

External Average Sales Price per Ton


$

1,242



$

1,258




-1

%


$

1,168




6

%


$

1,221



$

1,241




-2

%

Sales Tons to External Customers



6,191




6,774




-9

%



6,058




2

%



26,615




24,767




7

%

Pre-Operating & Start-Up Costs


$

87



$

103




-16

%


$

164




-47

%


$

496



$

594




-16

%

Pre-Operating & Start-Up Costs per Diluted Share


$

0.29



$

0.34






$

0.53






$

1.63



$

1.89





Number of Days in Period



88




91







94







365




366





Steel Mills Segment Data

























Total Shipments



5,906




6,428




-8

%



5,650




5

%



25,271




23,126




9

%

Sales Tons to External Customers



4,602




4,976




-8

%



4,580




0

%



19,848




18,480




7

%

Percentage of Sales to Internal Customers



22

%



23

%






19

%






21

%



20

%




External Average Sales Price per Ton


$

1,019



$

1,038




-2

%


$

926




10

%


$

1,008



$

1,013




0

%

Average Scrap/Scrap Substitute Cost per Gross Ton


$

380



$

391




-3

%


$

381




0

%


$

392



$

394




-1

%

Utilization



82

%



85

%






74

%






83

%



76

%




Steel Products Segment Data

























Sales Tons to External Customers



1,025




1,183




-13

%



968




6

%



4,397




4,018




9

%

Average Sales Price per Ton


$

2,413



$

2,358




2

%


$

2,448




-1

%


$

2,348



$

2,510




-6

%

 

Tonnage Data (In thousands)


Three Months (13 Weeks) Ended



Twelve Months (52 Weeks) Ended




Dec. 31,
2025



Oct. 4,
2025



%
Change



Dec. 31,
2024



Year Ago
% Change



Dec. 31,
2025



Dec. 31,
2024



%
Change


Steel mills total shipments:

























Sheet



2,804




3,030




-7

%



2,714




3

%



11,872




11,394




4

%

Bars



2,007




2,190




-8

%



1,887




6

%



8,635




7,730




12

%

Structural



522




595




-12

%



508




3

%



2,329




2,063




13

%

Plate



552




594




-7

%



502




10

%



2,329




1,797




30

%

Other



21




19




11

%



39




-46

%



106




142




-25

%




5,906




6,428




-8

%



5,650




5

%



25,271




23,126




9

%


























Sales tons to outside customers:

























Steel mills



4,602




4,976




-8

%



4,580




0

%



19,848




18,480




7

%

Joist and deck



218




254




-14

%



178




22

%



871




712




22

%

Rebar fabrication products



270




356




-24

%



239




13

%



1,179




1,020




16

%

Tubular products



228




206




11

%



221




3

%



947




856




11

%

Building systems



54




62




-13

%



57




-5

%



228




238




-4

%

Other steel products



255




305




-16

%



273




-7

%



1,172




1,192




-2

%

Raw materials



564




615




-8

%



510




11

%



2,370




2,269




4

%




6,191




6,774




-9

%



6,058




2

%



26,615




24,767




7

%

 

Non-GAAP Financial Measures


Reconciliation of EBITDA (Unaudited)


(In millions)




















Three Months (13 Weeks) Ended



Twelve Months (52 Weeks) Ended




Dec. 31, 2025



Oct. 4, 2025



Dec. 31, 2024



Dec. 31, 2025



Dec. 31, 2024


Net earnings before noncontrolling interests


$

423



$

683



$

345



$

2,038



$

2,319


Depreciation



316




304




285




1,226




1,094


Amortization



63




63




73




254




262


Losses and impairments of assets



27




-




-




67




137


Interest expense (income), net



11




15




3




59




(30)


Provision for income taxes



78




200




45




530




583


EBITDA


$

918



$

1,265



$

751



$

4,174



$

4,365


 

Reconciliation of Adjusted Net Earnings Attributable to Nucor Stockholders (Unaudited)


(In millions, except per share data)























Three Months (13 Weeks) Ended



Twelve Months (52 Weeks) Ended




December 31, 2025



December 31, 2025



December 31, 2024







Diluted EPS






Diluted EPS






Diluted EPS


Net earnings attributable to Nucor stockholders


$

378



$

1.64



$

1,744



$

7.52



$

2,027



$

8.46


Losses and impairments of assets, net of tax and noncontrolling interests



22




0.09




45




0.19




103




0.44


Adjusted net earnings attributable to Nucor stockholders


$

400



$

1.73



$

1,789



$

7.71



$

2,130



$

8.90


 

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/nucor-reports-results-for-the-fourth-quarter-of-2025-302670322.html

SOURCE Nucor Corporation

FAQ

What were Nucor (NUE) Q4 2025 earnings per share and adjusted EPS?

Q4 2025 diluted EPS was $1.64; adjusted EPS (ex-impairments) was $1.73.

How much did Nucor (NUE) return to shareholders in 2025?

Nucor returned approximately $1.2 billion in 2025 through share repurchases and dividends.

What is Nucor's (NUE) dividend and payment date declared in Dec 2025?

The Board declared a cash dividend of $0.56 per share payable Feb 11, 2026 to holders of record Dec 31, 2025.

How many shares did Nucor (NUE) repurchase in 2025 and at what average price?

Nucor repurchased approximately 5.4 million shares in 2025 at an average price of $128.66 per share.

What is Nucor's (NUE) Q1 2026 outlook compared to Q4 2025?

Nucor expects earnings to increase in Q1 2026 across all segments, with the largest increase in the steel mills segment due to higher volumes and realized prices.

How much cash and short-term investments did Nucor (NUE) report at Dec 31, 2025?

Cash and short-term investments totaled $2.70 billion at Dec 31, 2025.
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41.57B
220.96M
3.26%
77.35%
2.42%
Steel
Steel Works, Blast Furnaces & Rolling Mills (coke Ovens)
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United States
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