Nucor Posts Record Q2 Steel Shipments and $5.04 EPS, Guides Higher for Q3
NUE sits 86% above its 52-week low of $131.32.
Summary
Nucor reported Q2 2026 net earnings of $1.16 billion ($5.04 diluted EPS) on record steel mill shipments, guided for higher Q3 earnings, and highlighted strong demand and a robust balance sheet.
Key Events · Earnings and Guidance · NUE
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Record Q2 Earnings
Net earnings of $1.16B, or $5.04 per diluted share, on net sales of $10.40B. Adjusted EPS of $4.84 excludes a $0.20 non-cash benefit from Helion investment revaluation.
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Record Steel Mill Shipments
Second consecutive quarterly record with 7.1 million tons shipped, up 1% from Q1 2026 and 10% year-over-year, driven by strength across all steel formats.
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Q3 Guidance Raised
Expects higher consolidated reported earnings in Q3 2026, with higher realized pricing in steel mills and steel products, partially offset by lower raw materials margins.
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Strong Balance Sheet and Capital Returns
$2.69B in cash and short-term investments, undrawn $2.25B revolver; returned $479M to shareholders in Q2 via $350M in share repurchases (1.53M shares) and $129M in dividends.
Analysis · NUE · Manufacturing
A second consecutive quarterly record for steel mill shipments propelled net earnings to $1.16 billion, or $5.04 per diluted share—well above the $3.23 reported in Q1. Adjusted EPS of $4.84 excludes a non-cash benefit from a Helion investment revaluation. Looking ahead, the company guided for higher consolidated earnings in Q3, citing higher realized pricing across steel mills and steel products. With $2.69 billion in cash and short-term investments, an undrawn $2.25 billion revolver, and $479 million returned to shareholders in Q2 via buybacks and dividends, Nucor's financial position remains fortress-like. The results underscore broad-based demand strength across energy, infrastructure, and advanced manufacturing, supported by trade policies. The West Virginia greenfield project remains on time and on budget, with commissioning progressing through 2026 and production starting in 2027.
At the time of this filing, NUE was trading at $244.00 on NYSE in the Manufacturing sector, with a market capitalization of approximately $56.4B. The 52-week trading range was $131.32 to $270.90. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.