Nucor Reports Results for the Third Quarter of 2026

Nine-month operating cash flow reached $4,522 million, compared with $2,435 million a year earlier, while capital expenditures decreased.

Rhea-AI Summary

Nucor (NUE) reported third-quarter 2026 net earnings attributable to stockholders of $1.32 billion, up from the preceding quarter and year-earlier period. Diluted earnings per share reached $5.80, versus $5.04 in the second quarter and $2.63 a year earlier. Net sales were $11,249 million, compared with $10,397 million and $8,521 million, respectively.

Steel mills and steel products segment earnings increased sequentially, while raw materials earnings declined. Nucor returned approximately $629 million to stockholders during the quarter and ended it with $3.64 billion in cash and short-term investments. Its West Virginia sheet mill achieved its first heat in September, and a second Berkeley galvanizing line recently started up. Nucor expects fourth-quarter earnings to be generally in-line with or modestly higher than third-quarter earnings, with stable steel segment earnings and slightly lower raw materials earnings.

16 points · 0 major

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0 major · 9 points

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Positive

• Moderate pointDiluted EPS of $5.80 exceeded $5.04 in second-quarter 2026 and $2.63 in third-quarter 2025.
• Moderate pointThird-quarter net sales of $11,249 million exceeded $10,397 million sequentially and $8,521 million a year earlier.
• Moderate pointSteel mills pretax earnings of $1,788 million rose from $1,556 million sequentially and $793 million a year earlier.
• Moderate pointSteel products pretax earnings of $465 million rose from $353 million sequentially and $319 million a year earlier.
• Moderate pointNine-month net earnings attributable to stockholders of $3,218 million increased from $1,366 million a year earlier.
• Moderate pointNine-month net sales of $31,142 million increased from $24,807 million a year earlier.
• Moderate pointNine-month operating cash flow of $4,522 million increased from $2,435 million a year earlier.
• Moderate pointApproximately $2.7 billion in free cash flow, operating cash flow less capital expenditures, generated through nine months.
• Moderate pointApproximately $629 million returned to stockholders in third-quarter 2026; approximately $1.36 billion returned through nine months.
• Moderate point$3.64 billion in cash and short-term investments held at third-quarter end.
• Moderate point. Forward-looking: it has not happened yet and may not happen.Fourth-quarter earnings expected generally in-line with or modestly higher than third-quarter 2026.

5 minor points

• Minor pointNine-month capital expenditures of $1,861 million decreased from $2,620 million a year earlier.
• Minor point$2.25 billion revolving credit facility remains undrawn and expires in March 2030.
• Minor pointWest Virginia sheet mill achieved its first heat in September; Berkeley's second galvanizing line recently started up.
• Minor point. Forward-looking: it has not happened yet and may not happen.Steel mills and steel products earnings each expected to remain stable sequentially in fourth-quarter 2026.
• Minor point. Forward-looking: it has not happened yet and may not happen.Intersegment profit eliminations expected to decrease in fourth-quarter 2026.

Negative

• Moderate pointSteel mills costs of products sold increased; second-quarter cash refunds of $130 million did not recur.
• Moderate pointCorporate/eliminations expense of $491 million increased from $430 million sequentially and $272 million a year earlier.
• Moderate pointMarketing, administrative and other expenses of $444 million increased from $405 million sequentially and $300 million a year earlier.
• Minor pointRaw materials pretax earnings of $105 million fell from $146 million sequentially, but exceeded $43 million a year earlier.
• Minor pointThird-quarter losses and asset impairments of $17 million compared with none in either comparison quarter.

4 minor points

• Minor pointCurrent long-term debt and finance lease obligations of $579 million increased from $90 million at December 31, 2025.
• Minor point. Forward-looking: it has not happened yet and may not happen.Fourth-quarter steel mills volumes expected seasonally lower, with higher costs offsetting higher realized pricing.
• Minor point. Forward-looking: it has not happened yet and may not happen.Fourth-quarter steel products volumes expected seasonally lower despite higher realized pricing.
• Minor point. Forward-looking: it has not happened yet and may not happen.Fourth-quarter raw materials earnings expected slightly lower sequentially due to lower realized direct reduced iron pricing.

News Explained

During the third quarter of 2026, Nucor repurchased approximately 2.03 million common shares at an average price of $247.04 per share, so its reported shareholder return included share buybacks as well as dividends.

Key Figures

Net earnings attributable to Nucor stockholders: $1.32 billion Diluted EPS: $5.80 per diluted share Net sales: $11.25 billion +5 more

Net earnings attributable to Nucor stockholders

$1.32 billion

Third quarter of 2026

Diluted EPS

$5.80 per diluted share

Third quarter of 2026

Net sales

$11.25 billion

Third quarter of 2026

EBITDA

$2.28 billion

Third quarter of 2026

Net earnings before noncontrolling interests

$1.47 billion

Third quarter of 2026

Cash, cash equivalents and short-term investments

$3.64 billion

At the end of the third quarter of 2026

Undrawn revolving credit facility

$2.25 billion

Facility remains undrawn; expires March 2030

Quarterly cash dividend

$0.56 per share

Declared September 18, 2026

Previous Earnings Reports

2 past events · Latest: Jul 27

Same Type 2 events

1. Jul 27

   earnings report

   24h Move

   +7.2%

   Q2 2026 reported $1.16 billion net earnings and $5.04 diluted EPS, the sequential comparison.

2. Oct 27

   earnings report

   24h Move

   +5.4%

   Q3 2025 reported $607 million net earnings and $2.63 diluted EPS, the year-over-year comparison.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

ebitda, non-gaap, free cash flow, direct reduced iron

4 terms

ebitda financial

"EBITDA of $2.28 billion"

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.

View in glossary

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.

View in glossary

free cash flow financial

"approximately $2.7 billion of free cash flow"

Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.

View in glossary

direct reduced iron technical

"hot briquetted iron / direct reduced iron"

Direct reduced iron (DRI) is a solid iron product made by removing oxygen from iron ore using natural gas, hydrogen, or similar reducing agents at lower temperatures than traditional blast furnaces, leaving a porous, ‘sponge-like’ metal. Investors watch DRI because it is a key feedstock for modern steelmaking, influences raw-material costs, energy and emissions profiles, and can shift demand between scrap, coal and gas/hydrogen markets — affecting profitability and capital needs across steel and mining companies.

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Third Quarter of 2026 Highlights

• Net earnings attributable to Nucor stockholders of $1.32 billion, or $5.80 per diluted share
• Net sales of $11.25 billion
• Net earnings before noncontrolling interests of $1.47 billion; EBITDA of $2.28 billion

CHARLOTTE, N.C., Oct. 26, 2026 /PRNewswire/ -- Nucor Corporation (NYSE: NUE) today announced consolidated net earnings attributable to Nucor stockholders of $1.32 billion, or $5.80 per diluted share, for the third quarter of 2026. By comparison, Nucor reported consolidated net earnings attributable to Nucor stockholders of $1.16 billion, or $5.04 per diluted share, and adjusted net earnings attributable to Nucor stockholders of $1.11 billion, or $4.84 per diluted share, for the second quarter of 2026. Nucor reported consolidated net earnings attributable to Nucor stockholders of $607 million, or $2.63 per diluted share, for the third quarter of 2025.

Second quarter of 2026 results included a non-cash, pre-tax benefit of $61 million ($0.20 per diluted share) related to the increase in the valuation of our investment in Helion, a fusion energy company.

"I want to thank our teammates for delivering another strong quarter and making 2026 the safest summer in Nucor history," said Leon Topalian, Nucor's Chair and Chief Executive Officer. "Supported by robust demand across key end markets, Nucor has generated approximately $2.7 billion of free cash flow and returned nearly $1.4 billion to shareholders through the first nine months of the year. We also achieved important milestones in advancing our growth strategy, including the first heat at our West Virginia sheet mill in September and the recent start-up of our second galvanizing line at Nucor Steel Berkeley. These projects, together with other recent investments, are expanding Nucor's capabilities and strengthening our position in attractive markets. With our diversified portfolio, strong balance sheet and disciplined approach to capital allocation, Nucor is well positioned to deliver long-term shareholder value."

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

		Three Months (13 Weeks) Ended												Nine Months (39 Weeks) Ended
		October 3, 2026				July 4, 2026				October 4, 2025				October 3, 2026				October 4, 2025
Steel mills		$	1,788			$	1,556			$	793			$	4,472			$	1,867
Steel products			465				353				319				1,094				999
Raw materials			105				146				43				296				129
Corporate/eliminations			(491)				(430)				(272)				(1,274)				(928)
		$	1,867			$	1,625			$	883			$	4,588			$	2,067

Analysis of Third Quarter of 2026 Results Compared to the Second Quarter of 2026
Third quarter earnings increased in the steel mills and steel products segments, while decreasing in the raw materials segment. The increase in the steel mills segment was due to higher average selling prices and increased volumes, partially offset by higher costs of products sold. Second quarter steel mills segment cost of products sold was reduced by $130 million in cash refunds associated with prior periods' raw material procurement costs, which did not recur in the third quarter of 2026. The increase in earnings in the steel products segment was due to higher volumes and higher average realized pricing. Raw materials segment earnings decreased due to lower pricing and shipments.

Corporate/eliminations expense in the third quarter increased due primarily to the absence of the Helion valuation adjustment.

Financial Strength
At the end of the third quarter of 2026, Nucor had $3.64 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 third quarter of 2026, Nucor repurchased approximately 2.03 million shares of its common stock at an average price of $247.04 per share. Nucor returned approximately $629 million to stockholders in the third quarter of 2026 in the form of share repurchases and dividend payments, and approximately $1.36 billion in the first nine months of 2026.

On September 18, 2026, Nucor's Board of Directors declared a cash dividend of $0.56 per share. This cash dividend is payable on November 10, 2026, to stockholders of record as of September 30, 2026 and is Nucor's 214^th consecutive quarterly cash dividend.

Fourth Quarter of 2026 Outlook Compared to the Third Quarter of 2026
We expect earnings in the fourth quarter of 2026 to be generally in-line with or modestly higher than the third quarter. In the steel mills segment, we expect stable earnings due to higher realized pricing offset by seasonally lower volumes and higher costs. In the steel products segment, we expect stable earnings on higher realized pricing and seasonally lower volumes. The raw materials segment is expected to have slightly lower earnings due to lower realized DRI pricing. Intersegment profit eliminations are expected to decrease in the fourth quarter.

Earnings Conference Call
An earnings call is scheduled for October 27, 2026 at 10:00 a.m. Eastern Time to review Nucor's third quarter of 2026 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, adjusted net earnings per diluted share and, beginning in the third quarter of 2026, free cash flow. 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. For the second quarter of 2026, we defined adjusted net earnings attributable to Nucor stockholders as net earnings attributable to Nucor stockholders subtracting certain non-cash benefits (in this case, the increase in the value of our investment in Helion), net of tax. We define adjusted net earnings per diluted share as net earnings per diluted share subtracting certain non-cash benefits (in this case, the per diluted share impact of the increase in the value of our investment in Helion), net of tax. We define free cash flow as cash provided by operating activities less capital expenditures. 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, adjusted net earnings per diluted share and free cash flow 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, 2025. 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

Nucor Corporation Condensed Consolidated Statements of Earnings (Unaudited)
(In millions, except per share amounts)
		Three Months (13 Weeks) Ended												Nine Months (39 Weeks) Ended
		October 3, 2026				July 4, 2026				October 4, 2025				October 3, 2026				October 4, 2025
Net sales		$	11,249			$	10,397			$	8,521			$	31,142			$	24,807
Costs, expenses and other:
Cost of products sold			8,923				8,363				7,333				25,281				21,791
Marketing, administrative and other expenses			444				405				300				1,227				885
Equity in earnings of unconsolidated affiliates			(9)				(8)				(10)				(24)				(24)
Losses and impairments of assets			17				-				-				32				40
Interest expense (income), net			7				12				15				38				48
			9,382				8,772				7,638				26,554				22,740
Earnings before income taxes and noncontrolling interests			1,867				1,625				883				4,588				2,067
Provision for income taxes			394				345				200				965				452
Net earnings before noncontrolling interests			1,473				1,280				683				3,623				1,615
Earnings attributable to noncontrolling interests			154				124				76				405				249
Net earnings attributable to Nucor stockholders		$	1,319			$	1,156			$	607			$	3,218			$	1,366
Net earnings per share:
Basic		$	5.81			$	5.05			$	2.63			$	14.08			$	5.89
Diluted		$	5.80			$	5.04			$	2.63			$	14.06			$	5.88
Average shares outstanding:
Basic			226.4				228.2				229.9				227.8				231.1
Diluted			226.7				228.5				230.2				228.2				231.4

 

Nucor Corporation Condensed Consolidated Balance Sheets (Unaudited)
(In millions)
		October 3, 2026				December 31, 2025
ASSETS
Current assets:
Cash and cash equivalents		$	3,467			$	2,260
Short-term investments			173				439
Accounts receivable, net			4,296				3,105
Inventories, net			6,020				5,462
Other current assets			398				499
Total current assets			14,354				11,765
Property, plant and equipment, net			16,103				15,306
Goodwill			4,290				4,297
Other intangible assets, net			2,693				2,880
Other assets			924				856
Total assets		$	38,364			$	35,104
LIABILITIES
Current liabilities:
Short-term debt		$	130			$	122
Current portion of long-term debt and finance lease obligations			579				90
Accounts payable			2,380				1,890
Salaries, wages and related accruals			1,335				882
Accrued expenses and other current liabilities			1,406				1,020
Total current liabilities			5,830				4,004
Long-term debt and finance lease obligations due after one year			6,384				6,909
Deferred credits and other liabilities			2,059				2,067
Total liabilities			14,273				12,980
Commitments and contingencies
EQUITY
Nucor stockholders' equity:
Common stock			152				152
Additional paid-in capital			2,221				2,253
Retained earnings			34,338				31,504
Accumulated other comprehensive loss,    net of income taxes			(222)				(194)
Treasury stock			(13,678)				(12,779)
Total Nucor stockholders' equity			22,811				20,936
Noncontrolling interests			1,280				1,188
Total equity			24,091				22,124
Total liabilities and equity		$	38,364			$	35,104

 

Nucor Corporation Condensed Consolidated Statements of Cash Flows (Unaudited)
(In millions)
		Nine Months (39 Weeks) Ended
		October 3, 2026				October 4, 2025
Operating activities:
Net earnings before noncontrolling interests		$	3,623			$	1,615
Adjustments:
Depreciation			967				910
Amortization			188				191
Impairment of assets			32				20
Stock-based compensation			129				102
Deferred income taxes			(71)				2
Distributions from affiliates			7				6
Equity in earnings of unconsolidated affiliates			(24)				(24)
Changes in assets and liabilities (exclusive of acquisitions and dispositions):
Accounts receivable			(1,203)				(614)
Inventories			(560)				(295)
Accounts payable			485				296
Federal income taxes			167				177
Salaries, wages and related accruals			458				20
Other operating activities			324				29
Cash provided by operating activities			4,522				2,435
Investing activities:
Capital expenditures			(1,861)				(2,620)
Investment in and advances to affiliates			(2)				(1)
Disposition of plant and equipment			34				42
Purchases of investments			(165)				(872)
Proceeds from the sale of investments			432				938
Divestiture of affiliate			4				-
Other investing activities			23				4
Cash used in investing activities			(1,535)				(2,509)
Financing activities:
Net change in short-term debt			8				(89)
Repayment of long-term debt			(42)				(1,012)
Proceeds from issuance of long-term debt, net of discount			15				997
Bond issuance costs			(1)				(9)
Proceeds from exercise of stock options			19				1
Payment of tax withholdings on certain stock-based compensation			(82)				(32)
Distributions to noncontrolling interests			(314)				(231)
Cash dividends			(386)				(385)
Acquisition of treasury stock			(976)				(600)
Proceeds from government incentives			-				77
Other financing activities			(14)				14
Cash used in financing activities			(1,773)				(1,269)
Effect of exchange rate changes on cash			(7)				6
Increase (decrease) in cash and cash equivalents			1,207				(1,337)
Cash and cash equivalents - beginning of year			2,260				3,558
Cash and cash equivalents - end of nine months		$	3,467			$	2,221
Non-cash investing activity:
Change in accrued plant and equipment purchases		$	6			$	14

Select Financial and Operational Data

(Dollars in millions, tons in thousands, per unit amounts as noted)
		Three Months (13 Weeks) Ended																				Nine Months (39 Weeks) Ended
		October 3, 2026				July 4, 2026				% Change				October 4, 2025				Year Ago % Change				October 3, 2026				October 4, 2025				% Change
Consolidated Financial & Operational Data
Net Sales		$	11,249			$	10,397				8	%		$	8,521				32	%		$	31,142			$	24,807				26	%
External Average Sales Price per Ton		$	1,493			$	1,367				9	%		$	1,258				19	%		$	1,380			$	1,215				14	%
Sales Tons to External Customers			7,533				7,605				-1	%			6,774				11	%			22,565				20,424				10	%
Pre-Operating & Start-Up Costs		$	124			$	120				3	%		$	103				20	%		$	352			$	408				-14	%
Pre-Operating & Start-Up Costs per Diluted Share		$	0.42			$	0.40							$	0.34							$	1.17			$	1.34
Number of Days in Period			91				91								91								276				277
Steel Mills Segment Data
Total Shipments			7,231				7,100				2	%			6,428				12	%			21,377				19,365				10	%
Sales Tons to External Customers			5,662				5,659				0	%			4,976				14	%			16,940				15,246				11	%
Percentage of Sales to Internal Customers			22	%			20	%							23	%							21	%			21	%
External Average Sales Price per Ton		$	1,233			$	1,145				8	%		$	1,038				19	%		$	1,151			$	1,005				15	%
Average Scrap/Scrap Substitute Cost per Gross Ton		$	421			$	422				0	%		$	391				8	%		$	416			$	396				5	%
Utilization			89	%			91	%							85	%							89	%			83	%
Steel Products Segment Data
Sales Tons to External Customers			1,363				1,285				6	%			1,183				15	%			3,807				3,372				13	%
Average Sales Price per Ton		$	2,576			$	2,415				7	%		$	2,358				9	%		$	2,470			$	2,329				6	%

 

Tonnage Data (in thousands)		Three Months (13 Weeks) Ended																				Nine Months (39 Weeks) Ended
		October 3, 2026				July 4, 2026				% Change				October 4, 2025				Year Ago % Change				October 3, 2026				October 4, 2025				% Change
Steel mills total shipments:
Sheet			3,259				3,291				-1	%			3,030				8	%			9,944				9,068				10	%
Bars			2,497				2,387				5	%			2,190				14	%			7,192				6,628				9	%
Structural			667				628				6	%			595				12	%			1,944				1,807				8	%
Plate			782				757				3	%			594				32	%			2,186				1,777				23	%
Other			26				37				-30	%			19				37	%			111				85				31	%
			7,231				7,100				2	%			6,428				12	%			21,377				19,365				10	%
Sales tons to outside customers:
Steel mills			5,662				5,659				0	%			4,976				14	%			16,940				15,246				11	%
Joist and deck			237				198				20	%			254				-7	%			620				653				-5	%
Rebar fabrication products			341				344				-1	%			356				-4	%			976				909				7	%
Tubular products			375				338				11	%			206				82	%			1,031				719				43	%
Building Systems			74				59				25	%			62				19	%			188				174				8	%
Other steel products			336				346				-3	%			305				10	%			992				917				8	%
Raw materials			508				661				-23	%			615				-17	%			1,818				1,806				1	%
			7,533				7,605				-1	%			6,774				11	%			22,565				20,424				10	%

 

Non-GAAP Financial Measures
Reconciliation of EBITDA (Unaudited)
(In millions)
		Three Months (13 Weeks) Ended												Nine Months (39 Weeks) Ended
		October 3, 2026				July 4, 2026				October 4, 2025				October 3, 2026				October 4, 2025
Net earnings before noncontrolling interests		$	1,473			$	1,280			$	683			$	3,623			$	1,615
Depreciation			326				320				304				967				910
Amortization			62				63				63				188				191
Losses and impairments of assets			17				-				-				32				40
Interest expense (income), net			7				12				15				38				48
Provision for income taxes			394				345				200				965				452
EBITDA		$	2,279			$	2,020			$	1,265			$	5,813			$	3,256

 

Reconciliation of Adjusted Net Earnings Attributable to Nucor Stockholders (Unaudited)
(In millions, except per share data)
		Three Months (13 Weeks) Ended
		July 4, 2026
						Diluted EPS
Net earnings attributable to Nucor stockholders		$	1,156			$	5.04
Subtract non-cash benefit, net of tax			46				0.20
Adjusted net earnings attributable to Nucor stockholders		$	1,110			$	4.84

 

Reconciliation of Free Cash Flow (Unaudited)
(In millions)
		Nine Months (39 Weeks Ended)
		October 3, 2026
Cash provided by operating activities		$	4,522
Subtract capital expenditures			(1,861)
Free cash flow		$	2,661

 

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SOURCE Nucor Corporation

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were Nucor's third-quarter 2026 earnings and sales?

Nucor reported net earnings attributable to stockholders of $1.32 billion, or $5.80 per diluted share, and net sales of $11,249 million. Diluted earnings per share compared with $5.04 in second-quarter 2026 and $2.63 in third-quarter 2025.

What is Nucor's fourth-quarter 2026 earnings outlook?

Nucor expects fourth-quarter 2026 earnings to be generally in-line with or modestly higher than third-quarter earnings. Steel mills and steel products earnings are expected to remain stable, while raw materials earnings are expected to be slightly lower due to lower realized direct reduced iron pricing.

How many shares did Nucor repurchase in third-quarter 2026?

Nucor repurchased approximately 2.03 million shares at an average price of $247.04 per share during third-quarter 2026.

When will Nucor pay its declared quarterly dividend?

Nucor's declared cash dividend of $0.56 per share is payable on November 10, 2026, to stockholders of record as of September 30, 2026. The board declared the dividend on September 18, 2026.

How did Nucor's Helion investment affect second-quarter 2026 earnings comparisons?

Second-quarter 2026 results included a $61 million non-cash, pre-tax benefit, or $0.20 per diluted share, from an increase in the valuation of Nucor's Helion investment. Adjusted second-quarter earnings attributable to stockholders were $1.11 billion, or $4.84 per diluted share, excluding that benefit.