Nucor stock: Q3 profit more than doubles as Q4 outlook holds
Published on 11/10/2026 at 13:51 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSEarnings strength meets steady guidance
- Third-quarter net earnings attributable to Nucor stockholders reached $1.32 billion, versus $607 million a year earlier.
- Net sales rose to $11.25 billion as steel prices and volumes strengthened in key segments.
- Management expects fourth-quarter earnings to be generally in line with or modestly higher than the third quarter.
Nucor Corporation reported a sharp increase in third-quarter profit on October 26, 2026, as higher steel prices and stronger volumes lifted its core businesses. The company said its fourth-quarter earnings should be generally in line with or modestly higher than the third quarter.
In its third-quarter earnings release, Nucor reported net earnings attributable to stockholders of $1.32 billion, or $5.80 per diluted share, for the 13 weeks ended October 3. A year earlier, net earnings were $607 million, or $2.63 per diluted share. Net sales increased to $11.25 billion from $8.52 billion.
Pricing lifts core steel operations
The steel mills segment generated $1.79 billion in earnings before income taxes and noncontrolling interests, compared with $793 million a year earlier. Nucor attributed the improvement to higher average selling prices and increased volumes, partly offset by higher product costs. Total steel mills shipments rose 12 percent year over year to 7.23 million tons, while the external average selling price increased 19 percent to $1,233 per ton.
Steel products earnings reached $465 million, up from $319 million in the prior-year quarter. The increase reflected higher volumes and higher average realized pricing. External sales tons in the segment rose 15 percent to 1.36 million, and the average sales price increased 9 percent to $2,576 per ton.
Raw materials earnings rose to $105 million from $43 million a year earlier, but declined from $146 million in the second quarter. Nucor said the sequential decrease reflected lower pricing and shipments. The second quarter also benefited from $130 million in cash refunds linked to earlier raw-material procurement costs, which did not recur.
Fourth-quarter outlook stays firm
Nucor expects stable earnings in steel mills as higher realized pricing offsets seasonally lower volumes and higher costs. The steel products segment is also expected to remain stable, with higher pricing offsetting lower seasonal volumes. Raw materials earnings are expected to decline slightly because of lower realized direct reduced iron pricing, while intersegment profit eliminations should decrease.
Management also highlighted the first heat at its West Virginia sheet mill in September and the start-up of a second galvanizing line at Nucor Steel Berkeley. The projects expand production capabilities, although start-up and operating costs remain relevant to near-term margins. Nucor reported EBITDA of $2.28 billion in the third quarter, compared with $1.27 billion a year earlier.
Stock context for investors
Nucor stock traded at 223.45 euros on Lang & Schwarz at 13:42 CET on Tuesday, November 10, 2026. The company also said it repurchased 2.03 million shares at an average price of $247.04 in the third quarter and returned $629 million to stockholders through buybacks and dividends.
Nucor Corporation
- ISIN: US6703461052
- Ticker: NUE
- Home exchange: New York Stock Exchange
- Lang & Schwarz quote: 223.45 euros, Tuesday, November 10, 2026, 13:42 CET
- Third-quarter net sales: $11.25 billion
- Third-quarter net earnings: $1.32 billion
- Fourth-quarter outlook: Generally in line with or modestly higher than the third quarter
The S&P 500 remains the relevant market backdrop for US-listed industrial shares.
