Nucor Sees Robust Q3 2026 Earnings Amid Rising Steel Prices

Steel News  |  2026-09-21 06:06:25   |   By

Year-to-date shareholder returns through buybacks and dividends reached about $1.36 billion.

Summary
  • Nucor Projects Higher Q3 Earnings
    Nucor expects third-quarter 2026 diluted earnings of $5.55-$5.65 per share, compared with $5.04 per share reported in Q2 and $2.63 per share in Q3 2025. The outlook reflects improved performance across key steel businesses.
  • Steel Mills and Products Businesses Drive Growth
    Higher average selling prices and broadly stable shipment volumes are expected to support the steel mills segment. The steel products business is also projected to improve, benefiting from increased volumes and higher realized prices.
  • Raw Materials Face Pricing Pressure
    Nucor expects lower prices and shipment volumes to weigh on its raw materials segment. Meanwhile, the company repurchased approximately 2.03 million shares during the quarter, with year-to-date shareholder returns through buybacks and dividends reaching about $1.36 billion.

SEATTLE (Scrap Monster): Nucor Corporation expects third-quarter 2026 earnings to rise from the previous quarter, supported by improved performance in its steel mills and steel products businesses.

The company forecast third-quarter earnings of $5.55 to $5.65 per diluted share for the period ending October 3, 2026. That compares with second-quarter reported earnings of $5.04 per share and adjusted earnings of $4.84. Nucor’s earnings stood at $2.63 per share in the third quarter of 2025.

Higher average selling prices and broadly stable shipment volumes are expected to drive steel mills segment earnings. The steel products segment is also expected to deliver stronger quarterly results, driven by increased volumes and higher realized prices. In contrast, the dip in pricing and shipment volumes is likely to impact raw materials segment earnings, a company news release said.

Nucor continued returning capital to shareholders, repurchasing approximately 2.03 million shares at an average $247.04 each during the quarter. Year-to-date shareholder returns through buybacks and dividends reached about $1.36 billion.

Nucor expects higher corporate and elimination expenses in the third quarter.

The company will announce third-quarter results after market close on October 26, 2026, followed by a conference call on October 27.

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