Nucor stock: Strong Q3 keeps fourth-quarter outlook steady

Published on 11/04/2026 at 13:23 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Nucor stock enters the final quarter after earnings more than doubled year over year. Management expects pricing to offset seasonal volume pressure.

Strong Quarter, Steady Near-Term Outlook

Third-quarter sales increased 32 percent year over year, supported by higher steel prices and stronger volumes.
Management expects higher realized pricing to offset seasonal volume pressure and higher costs in the fourth quarter.
Nucor has started production at its West Virginia sheet mill and its second galvanizing line at Berkeley.

Nucor Corp, US6703461052, Illustration mit AI erstellt.

Nucor Corporation reported a sharp improvement in third-quarter results on October 26, 2026, as higher steel prices and stronger shipments lifted earnings across its core businesses. The company said in its third-quarter results release that net earnings attributable to stockholders reached USD 1.32 billion, or USD 5.80 per diluted share, for the 13 weeks ended October 3.

Net sales rose to USD 11.25 billion from USD 8.52 billion a year earlier, an increase of 32 percent. Earnings attributable to stockholders were USD 607 million, or USD 2.63 per diluted share, in the third quarter of 2025. EBITDA increased to USD 2.279 billion from USD 1.265 billion.

Pricing Supports Steel Operations

Nucor said steel mills earnings before income taxes and noncontrolling interests increased to USD 1.788 billion from USD 793 million a year earlier. Steel products earnings rose to USD 465 million from USD 319 million. The gains reflected higher average selling prices and increased volumes, while raw materials earnings declined to USD 105 million from USD 43 million because of lower pricing and shipments.

Sales tons to external customers increased 11 percent from a year earlier to 7.533 million tons. Steel mill total shipments reached 7.231 million tons, up 12 percent, while the average external sales price for the steel mills segment increased 19 percent to USD 1,233 per ton. The figures underline the importance of pricing in Nucor's earnings recovery as the company continues to manage production costs and investment-related spending.

Management also highlighted progress on its expansion program. The first heat at the West Virginia sheet mill was produced in September, and Nucor recently started its second galvanizing line at Nucor Steel Berkeley. Chair and Chief Executive Officer Leon Topalian said the projects are expanding the company's capabilities and strengthening its position in attractive markets.

Fourth-Quarter Earnings Seen Stable

Nucor expects fourth-quarter earnings to be generally in line with or modestly higher than the third quarter. In steel mills, higher realized pricing is expected to offset seasonally lower volumes and higher costs. Steel products earnings are also expected to remain stable as stronger pricing offsets lower volumes, while raw materials earnings are expected to decline slightly because of lower realized direct-reduced iron pricing.

The outlook points to resilient near-term operating conditions, but it also leaves the company exposed to seasonal volume patterns and cost absorption. Intersegment profit eliminations are expected to decrease, which should provide some support at the corporate level. Nucor returned approximately USD 629 million to stockholders during the third quarter through dividends and share repurchases, including about 2.03 million repurchased shares at an average price of USD 247.04.

For income-focused investors, the board declared a quarterly cash dividend of USD 0.56 per share on September 18. The dividend is payable on November 10 to stockholders of record as of September 30 and represents Nucor's 214th consecutive quarterly cash dividend.

Nucor stock traded at EUR 245.00 on Lang & Schwarz at 13:13 CET on Wednesday, November 4, 2026. The real-time quote of Nucor stock reflects the latest available trading indication.