Nucor (NUE) Q3 2026 Earnings
How Did NUE Stock React to Q3 2026 Earnings?
Did NUE Beat Earnings? Q3 2026 Results
No. Nucor reported Q3 2026 earnings of $5.80 a share on Oct 26, 2026, missing the $5.83 consensus estimate by 0.5%. Revenue was $11.2B against a $10.8B estimate.
Nucor Corp posted a quarter defined by a sharp revenue beat but a narrow earnings miss, as the Charlotte-based steelmaker reported GAAP earnings per diluted share of $5.80 against a consensus estimate of $5.83, falling short by 0.48%, while net sales of $11.25 billion cleared the $10.79 billion estimate by 4.30% and climbed 32.00% from $8.52 billion a year earlier. Net earnings attributable to stockholders reached $1.32 billion, more than doubling from $607.00 million in the year-ago quarter, with EBITDA expanding to $2.28 billion from $1.26 billion. The primary engine behind the top-line strength was the steel mills segment, where average external selling prices rose to $1,233 per ton from $1,145 per ton sequentially and shipments increased 12% year-over-year, though the segment also absorbed the absence of $130.00 million in one-time raw material procurement refunds that had flattered Q2 results. Broader sector momentum, with peers also reporting firmer domestic steel pricing, reinforced the constructive demand backdrop. Looking ahead, management guided Q4 consolidated earnings to be generally in-line with or modestly higher than Q3, anticipating higher realized steel prices offset by seasonally softer volumes.
- Higher average selling prices across steel mills and steel products segments
- Increased volumes with record steel mill shipments for a third consecutive quarter YTD
- Strong demand across key end markets including nonresidential construction, automotive, and infrastructure
- Reduced finished steel imports, down ~13% y-o-y through Q3 2026 vs 2025
- Growing contributions from recently completed growth projects
- Joist & Deck led Q/Q earnings growth with 20% higher shipments and $110/t higher pricing
- Tubular products shipments up 82% year-over-year
“I want to thank our teammates for delivering another strong quarter and making 2026 the safest summer in Nucor history. 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-up of 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.”
Nucor CEO, on the earnings call
What Is Nucor's Outlook?
Nucor expects Q4 2026 consolidated earnings to be generally in-line with or modestly higher than Q3 2026. In the steel mills segment, higher realized pricing is expected to be offset by seasonally lower volumes and higher costs, resulting in stable earnings. Steel products segment earnings are expected to be stable 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 Q4.
NUE YoY Financials
| Metric | Q3 2026 | Q3 2025 | Year over year |
|---|---|---|---|
| Revenue | $11.2B | $8.5B | +32.0% |
| Gross Profit | $2.3B | $1.2B | +95.8% |
| Operating Income | $1.9B | $888.0M | +110.3% |
| Net Income | $1.3B | $607.0M | +117.3% |
When Does Nucor Report Next?
Figures from SEC filings and company reports. Not investment advice.