Nucor projects Q3 2026 earnings above prior year, below estimates

Nucor Corporation (NYSE: NUE) issued guidance for its third quarter ending October 3, 2026, projecting earnings in the range of $5.55 to $5.65 per diluted share, below the analyst consensus estimate of $5.99 per diluted share.

In the second quarter of 2026, Nucor reported net earnings of $5.04 per diluted share and adjusted net earnings of $4.84 per diluted share. The adjusted figure excluded a non-cash, pre-tax benefit of $61 million, or $0.20 per diluted share, related to an increase in the valuation of its investment in Helion, a fusion energy company. Nucor reported $2.63 per diluted share in the third quarter of 2025.

For the third quarter, Nucor said earnings are expected to increase in the steel mills and steel products segments, while declining in the raw materials segment. The steel mills segment is expected to benefit from higher average selling prices and stable volumes, though the second quarter included $130 million in cash refunds tied to prior-period raw material procurement costs that are not expected to recur. The steel products segment is projected to see gains from higher volumes and pricing. Raw materials segment earnings are expected to fall on lower pricing and shipments.

During the third quarter, Nucor repurchased approximately 2.03 million shares at an average price of $247.04 per share. The company has returned approximately $1.36 billion to stockholders through share repurchases and dividends year-to-date.

Nucor plans to release its third quarter results after markets close on October 26, 2026, followed by a conference call on October 27, 2026, at 10:00 a.m. Eastern Time.

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