Nucor Reports Results for the Third Quarter of 2026 Third Quarter of 2026
Nucor Reports Results for the Third Quarter of 2026 Third Quarter of 2026 Highlights
• Net earnings attributable to Nucor stockholders of $1.32 billion, or $5.80 per diluted share
• Net earnings before noncontrolling interests of $1.47 billion; EBITDA of $2.28 billion
CHARLOTTE, N.C. – October 26, 2026 - 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-taxbenefit 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-upof 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)
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. Page 1 of 10 Nucor Executive Offices: 1915 Rexford Road, Charlotte, North Carolina 28211 Phone 704-366-7000 Fax 704-362-4208 www.nucor.com
Corporate/eliminations expense in the third quarter increased due primarily to the absence of the Helion valuation adjustment.
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.
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 consecutive quarterly cash dividend.
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.
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.
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.
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.
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.
Nucor Reports Results for the Third Quarter of 2026 (Continued) Consolidated Financial Statements Nucor Corporation Condensed Consolidated Statements of Earnings (Unaudited) (In millions, except per share amounts)
Page 5 of 10 Nucor Executive Offices: 1915 Rexford Road, Charlotte, North Carolina 28211 Phone 704-366-7000 Fax 704-362-4208 www.nucor.com
Nucor Reports Results for the Third Quarter of 2026 (Continued) Nucor Corporation Condensed Consolidated Balance Sheets (Unaudited) (In millions)
October 3, 2026 December 31, 2025 ────────────────────────────────────────────────────────────────────────────── ASSETS Current assets: Cash and cash $ 3,467 $ 2,260 equivalents 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 16,103 15,306 equipment, net Goodwill 4,290 4,297 Other intangible assets, 2,693 2,880 net 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 579 90 finance lease obligations Accounts payable 2,380 1,890 Salaries, wages and 1,335 882 related accruals Accrued expenses and other current 1,406 1,020 liabilities Total current 5,830 4,004 liabilities Long-term debt and finance lease 6,384 6,909 obligations due after one year Deferred credits and 2,059 2,067 other liabilities Total liabilities 14,273 12,980 Commitments and contingencies EQUITY Nucor stockholders’ equity: Common stock 152 152 Additional paid-in 2,221 2,253 capital Retained earnings 34,338 31,504 Accumulated other comprehensive loss, (222 ) (194 ) net of income taxes Treasury stock (13,678 ) (12,779 ) Total Nucor 22,811 20,936 stockholders’ equity Noncontrolling interests 1,280 1,188 Total equity 24,091 22,124 Total liabilities and $ 38,364 $ 35,104 equity
Page 6 of 10 Nucor Executive Offices: 1915 Rexford Road, Charlotte, North Carolina 28211 Phone 704-366-7000 Fax 704-362-4208 www.nucor.com
Nucor Reports Results for the Third Quarter of 2026 (Continued) Nucor Corporation Condensed Consolidated Statements of Cash Flows (Unaudited) (In millions)
Nine Months (39 October 4, Weeks) Ended October 3, 2026 2025 ────────────────────────────────────────────────────────────────────────────── Operating activities: Net earnings before $ 3,623 $ 1,615 noncontrolling interests Adjustments: Depreciation 967 910 Amortization 188 191 Impairment of 32 20 assets Stock-based 129 102 compensation Deferred (71 ) 2 income taxes Distributions from 7 6 affiliates Equity in earnings of (24 ) (24 ) unconsolidated affiliates Changes in assets and liabilities (exclusive of acquisitions and dispositions): Accounts (1,203 ) (614 ) receivable Inventories (560 ) (295 ) Accounts 485 296 payable Federal income 167 177 taxes Salaries, wages and 458 20 related accruals Other operating 324 29 activities Cash provided by operating 4,522 2,435 activities Investing activities: Capital (1,861 ) (2,620 ) expenditures Investment in and advances (2 ) (1 ) to affiliates Disposition of plant and 34 42 equipment Purchases of (165 ) (872 ) investments Proceeds from the sale of 432 938 investments Divestiture of 4 — affiliate Other investing 23 4 activities Cash used in investing (1,535 ) (2,509 ) activities Financing activities: Net change in short-term 8 (89 ) debt Repayment of (42 ) (1,012 ) long-term debt Proceeds from issuance of long-term 15 997 debt, net of discount Bond issuance (1 ) (9 ) costs Proceeds from exercise of 19 1 stock options Payment of tax withholdings on certain (82 ) (32 ) stock-based compensation Distributions to (314 ) (231 ) noncontrolling interests Cash dividends (386 ) (385 ) Acquisition of (976 ) (600 ) treasury stock Proceeds from government — 77 incentives Other financing (14 ) 14 activities Cash used in financing (1,773 ) (1,269 ) activities Effect of exchange rate (7 ) 6 changes on cash Increase (decrease) in 1,207 (1,337 ) cash and cash equivalents Cash and cash equivalents - 2,260 3,558 beginning of year Cash and cash equivalents - $ 3,467 $ 2,221 end of nine months Non-cash investing activity: Change in accrued plant $ 6 $ 14 and equipment purchases
Page 7 of 10 Nucor Executive Offices: 1915 Rexford Road, Charlotte, North Carolina 28211 Phone 704-366-7000 Fax 704-362-4208 www.nucor.com
Nucor Reports Results for the Third Quarter of 2026 (Continued) Select Financial and Operational Data (Dollars in millions, tons in thousands, per unit amounts as noted)
Page 8 of 10 Nucor Executive Offices: 1915 Rexford Road, Charlotte, North Carolina 28211 Phone 704-366-7000 Fax 704-362-4208 www.nucor.com
Nucor Reports Results for the Third Quarter of 2026 (Continued) Tonnage Data (in thousands)
Page 9 of 10 Nucor Executive Offices: 1915 Rexford Road, Charlotte, North Carolina 28211 Phone 704-366-7000 Fax 704-362-4208 www.nucor.com
Nucor Reports Results for the Third Quarter of 2026 (Continued) Non- GAAPFinancial Measures Reconciliation of EBITDA (Unaudited) (In millions)
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 $ 1,156 $ 5.04 stockholders Subtract non-cash 46 0.20 benefit, net of tax Adjusted net earnings attributable to $ 1,110 $ 4.84 Nucor stockholders
Page 10 of 10 Nucor Executive Offices: 1915 Rexford Road, Charlotte, North Carolina 28211 Phone 704-366-7000 Fax 704-362-4208 www.nucor.com
Full text with the tables
Exhibit 99.1
News Release
Nucor Reports Results for the Third Quarter of 2026 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. – October 26, 2026 - 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-taxbenefit 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-upof 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)
Thr… Ni…
Mon… Mo…
(13 Oct… Ju… Oct… (39 Oct… Oc…
Wee… 3, 4, 4, We… 3, 4,
End… 2026 20… 2025 En… 2026 20…
──────────────────────────────────────────────────────────────────────────────
St… $ 1,7… $ 1,… $ 793 $ 4,4… $ 1,…
mi…
St… 465 353 319 1,0… 999
pr…
Raw 105 146 43 296 129
ma…
Co… (491 ) (4… ) (272 ) (1,… ) (9… )
$ 1,8… $ 1,… $ 883 $ 4,5… $ 2,…
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.
Page 1 of 10 Nucor Executive Offices: 1915 Rexford Road, Charlotte, North
Carolina 28211 Phone 704-366-7000 Fax 704-362-4208 www.nucor.com
Nucor Reports Results for the Third Quarter of 2026 (Continued)
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
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.
Page 2 of 10
Nucor Executive Offices: 1915 Rexford Road, Charlotte, North Carolina 28211
Phone 704-366-7000 Fax 704-362-4208 www.nucor.com
Nucor Reports Results for the Third Quarter of 2026 (Continued)
Non-GAAPFinancial 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
Page 3 of 10
Nucor Executive Offices: 1915 Rexford Road, Charlotte, North Carolina 28211
Phone 704-366-7000 Fax 704-362-4208 www.nucor.com
Nucor Reports Results for the Third Quarter of 2026 (Continued)
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.
Contact Information
For Investor/Analyst
Inquiries –
Chris Jacobi, chris.jacobi@nucor.com, or Paul Donnelly, paul.donnelly@nucor.com
For Media Inquiries –
Katherine Miller,
katherine.miller@nucor.com
Page 4 of 10
Nucor Executive Offices: 1915 Rexford Road, Charlotte, North Carolina 28211
Phone 704-366-7000 Fax 704-362-4208 www.nucor.com
Nucor Reports Results for the Third Quarter of 2026 (Continued) Consolidated
Financial Statements Nucor Corporation Condensed Consolidated Statements of
Earnings (Unaudited) (In millions, except per share amounts)
Thr… Ni…
Mon… Mo…
(13 Oct… Ju… Oct… (39 Oct… Oc…
Wee… 3, 4, 4, We… 3, 4,
End… 2026 20… 2025 En… 2026 20…
──────────────────────────────────────────────────────────────────────────────
Net $ 11,… $ 10… $ 8,5… $ 31,… $ 24…
sa…
Co…
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and
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pr…
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and
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(i…
net
9,3… 8,… 7,6… 26,… 22…
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and
no…
in…
Pr…
for 394 345 200 965 452
in…
ta…
Net
ea…
be… 1,4… 1,… 683 3,6… 1,…
no…
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at…
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no…
in…
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ea…
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to
Nu…
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Net
ea…
per
sh…
Ba… $ 5.81 $ 5.… $ 2.63 $ 14.… $ 5.…
Di… $ 5.80 $ 5.… $ 2.63 $ 14.… $ 5.…
Av…
sh…
ou…
Ba… 226… 22… 229… 227… 23…
Di… 226… 22… 230… 228… 23…
Page 5 of 10 Nucor Executive Offices: 1915 Rexford Road, Charlotte, North
Carolina 28211 Phone 704-366-7000 Fax 704-362-4208 www.nucor.com
Nucor Reports Results for the Third Quarter of 2026 (Continued) Nucor
Corporation Condensed Consolidated Balance Sheets (Unaudited) (In millions)
October 3, 2026 December 31, 2025
──────────────────────────────────────────────────────────────────────────────
ASSETS
Current assets:
Cash and cash $ 3,467 $ 2,260
equivalents
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 16,103 15,306
equipment, net
Goodwill 4,290 4,297
Other intangible assets, 2,693 2,880
net
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 579 90
finance lease
obligations
Accounts payable 2,380 1,890
Salaries, wages and 1,335 882
related accruals
Accrued expenses and
other current 1,406 1,020
liabilities
Total current 5,830 4,004
liabilities
Long-term debt and
finance lease 6,384 6,909
obligations due after
one year
Deferred credits and 2,059 2,067
other liabilities
Total liabilities 14,273 12,980
Commitments and
contingencies
EQUITY
Nucor stockholders’
equity:
Common stock 152 152
Additional paid-in 2,221 2,253
capital
Retained earnings 34,338 31,504
Accumulated other
comprehensive loss, (222 ) (194 )
net of income taxes
Treasury stock (13,678 ) (12,779 )
Total Nucor 22,811 20,936
stockholders’ equity
Noncontrolling interests 1,280 1,188
Total equity 24,091 22,124
Total liabilities and $ 38,364 $ 35,104
equity
Page 6 of 10 Nucor Executive Offices: 1915 Rexford Road, Charlotte, North
Carolina 28211 Phone 704-366-7000 Fax 704-362-4208 www.nucor.com
Nucor Reports Results for the Third Quarter of 2026 (Continued) Nucor
Corporation Condensed Consolidated Statements of Cash Flows (Unaudited) (In
millions)
Nine Months
(39 October 4,
Weeks) Ended October 3, 2026 2025
──────────────────────────────────────────────────────────────────────────────
Operating
activities:
Net earnings
before $ 3,623 $ 1,615
noncontrolling
interests
Adjustments:
Depreciation 967 910
Amortization 188 191
Impairment of 32 20
assets
Stock-based 129 102
compensation
Deferred (71 ) 2
income taxes
Distributions
from 7 6
affiliates
Equity in
earnings of (24 ) (24 )
unconsolidated
affiliates
Changes in
assets and
liabilities
(exclusive of
acquisitions
and
dispositions):
Accounts (1,203 ) (614 )
receivable
Inventories (560 ) (295 )
Accounts 485 296
payable
Federal income 167 177
taxes
Salaries,
wages and 458 20
related
accruals
Other
operating 324 29
activities
Cash provided
by operating 4,522 2,435
activities
Investing
activities:
Capital (1,861 ) (2,620 )
expenditures
Investment in
and advances (2 ) (1 )
to affiliates
Disposition of
plant and 34 42
equipment
Purchases of (165 ) (872 )
investments
Proceeds from
the sale of 432 938
investments
Divestiture of 4 —
affiliate
Other
investing 23 4
activities
Cash used in
investing (1,535 ) (2,509 )
activities
Financing
activities:
Net change in
short-term 8 (89 )
debt
Repayment of (42 ) (1,012 )
long-term debt
Proceeds from
issuance of
long-term 15 997
debt, net of
discount
Bond issuance (1 ) (9 )
costs
Proceeds from
exercise of 19 1
stock options
Payment of tax
withholdings
on certain (82 ) (32 )
stock-based
compensation
Distributions
to (314 ) (231 )
noncontrolling
interests
Cash dividends (386 ) (385 )
Acquisition of (976 ) (600 )
treasury stock
Proceeds from
government — 77
incentives
Other
financing (14 ) 14
activities
Cash used in
financing (1,773 ) (1,269 )
activities
Effect of
exchange rate (7 ) 6
changes on
cash
Increase
(decrease) in 1,207 (1,337 )
cash and cash
equivalents
Cash and cash
equivalents - 2,260 3,558
beginning of
year
Cash and cash
equivalents - $ 3,467 $ 2,221
end of nine
months
Non-cash
investing
activity:
Change in
accrued plant $ 6 $ 14
and equipment
purchases
Page 7 of 10 Nucor Executive Offices: 1915 Rexford Road, Charlotte, North
Carolina 28211 Phone 704-366-7000 Fax 704-362-4208 www.nucor.com
Nucor Reports Results for the Third Quarter of 2026 (Continued) Select Financial
and Operational Data (Dollars in millions, tons in thousands, per unit amounts
as noted)
… …
… … …
… … … … … …
… … … % … … %
… … … … … … …
──────────────────────────────────────────────────────────────────────────────
$ … $ % … … $ … …
$ … $ % … … $ … …
… % … … … …
$ … $ % … … $ … …
$ … $ … $ …
… … …
… % … … … …
… % … … … …
… % % … % …
$ … $ % … … $ … …
$ … $ % … 8 $ … 5
… % % … % …
… % … … … …
$ … $ % … 9 $ … 6
Page 8 of 10 Nucor Executive Offices: 1915 Rexford Road, Charlotte, North
Carolina 28211 Phone 704-366-7000 Fax 704-362-4208 www.nucor.com
Nucor Reports Results for the Third Quarter of 2026 (Continued) Tonnage Data (in
thousands)
T… N…
M… Y… M…
(… O… J… O… A… (… … O…
W… 3, 4, % 4, % W… … 4, %
E… 2… 2… C… 2… C… E… … 2… …
──────────────────────────────────────────────────────────────────────────────
…
…
…
…
… 3… 3… -1 % 3… 8 % … 9… … %
… 2… 2… 5 % 2… 14 % … 6… 9 %
… 6… 6… 6 % 5… 12 % … 1… 8 %
… 7… 7… 3 % 5… 32 % … 1… … %
… 26 37 -… % 19 37 % … 85 … %
7… 7… 2 % 6… 12 % … 1… … %
…
…
…
…
…
… 5… 5… 0 % 4… 14 % … 1… … %
…
…
… 2… 1… 20 % 2… -7 % … 6… … %
…
…
… 3… 3… -1 % 3… -4 % … 9… 7 %
…
… 3… 3… 11 % 2… 82 % … 7… … %
…
… 74 59 25 % 62 19 % … 1… 8 %
…
…
… 3… 3… -3 % 3… 10 % … 9… 8 %
…
… 5… 6… -… % 6… -… % … 1… 1 %
…
7… 7… -1 % 6… 11 % … 2… … %
Page 9 of 10 Nucor Executive Offices: 1915 Rexford Road, Charlotte, North
Carolina 28211 Phone 704-366-7000 Fax 704-362-4208 www.nucor.com
Nucor Reports Results for the Third Quarter of 2026 (Continued) Non-
GAAPFinancial Measures Reconciliation of EBITDA (Unaudited) (In millions)
Three Nine
Mont… Mont…
(13 Octob… July Octob… (39 Octob… Octo…
Week… 3, 4, 4, Week… 3, 4,
Ended 2026 2026 2025 Ended 2026 2025
──────────────────────────────────────────────────────────────────────────────
Net
earn…
befo… $ 1,473 $ 1,280 $ 683 $ 3,623 $ 1,615
nonc…
inte…
Depr… 326 320 304 967 910
Amor… 62 63 63 188 191
Loss…
and
impa… 17 — — 32 40
of
asse…
Inte…
expe… 7 12 15 38 48
(inc…
net
Prov…
for 394 345 200 965 452
inco…
taxes
EBIT… $ 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 $ 1,156 $ 5.04
stockholders
Subtract non-cash 46 0.20
benefit, net of tax
Adjusted net earnings
attributable to $ 1,110 $ 4.84
Nucor stockholders
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
Page 10 of 10 Nucor Executive Offices: 1915 Rexford Road, Charlotte, North
Carolina 28211 Phone 704-366-7000 Fax 704-362-4208 www.nucor.com