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NucorNUE

Legal name
Nucor Corporation
Sector
Other
Industry
Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens)
Exchange
NYSE

Stock Price $NUE

Latest filings

You are here#9 of 28 in Materials by market cap

Filing record · 2016–202610-K1110-Q328-K111

NUE filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 111 current reports (8-K) between 2016 and 2026.

  1. FY2016 annual report10-K · Feb ’17Feb ’17
  2. Deal closed8-K · Jul ’19Jul ’19
  3. Leadership change8-K · Mar ’22Mar ’22
  4. Leadership change8-K · Dec ’25Dec ’25

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  19. $32.49B
YoY changeLargest recent move+81.2%in FY21Latest +5.7%

Latest bar from 10-KFY2025Click a bar to open its SEC filing

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All NUE Financial Metrics58 metrics

Income Statement12

Balance Sheet26

Cash Flow15

Per Share5

02—Overview

Nucor Financial Overview 2021–2025

Updated Nov 4, 2026

Nucor's earnings per share fell 74% in four years, from $28.79 in FY2022 to $7.52a in FY2025, even as net sales slipped only 22% over the same stretch. That gap is the story: this is a high-operating-leverage steel business where small price swings hit profit hard, and the data now show that cycle turning upward.

The long arc is stark. Net earnings attributable to stockholders climbed to $6.83 billionb in FY2021 on $36.48 billion of sales, a 30% gross margin, and a 55.0% return on equity. By FY2025, earnings were $1.74 billion on $32.49 billion of sales. Gross margin collapsed to 13% in FY2024, and the steel products segment, hit by weaker joist and deck pricing, fell to $1.23 billion of pretax earnings in FY2025 from $4.09 billion in FY2022. Cash from operations dropped from $10.07 billion in FY2022 to $3.23 billion in FY2025, while capital expenditures rose to $3.42 billion, funding the West Virginia sheet mill, now estimated near $4 billion.

The balance sheet absorbed the strain. Funded debt to total capital stayed at 24.4%, and the $2.25 billionc revolver was undrawn. Cash and short-term investments fell to $2.70 billion from $7.13 billion in FY2023. Steel mills backlogs reached $3.35 billion at year-end FY2025, up from $2.13 billion. The market priced in a trough: at the close of FY2025, shares traded at $163.11, or 21.7x earnings, a premium multiple on depressed profits.

Recent Developments (Q2 and Q3 2026)

Earnings accelerated through the year. Net earnings reached $743 milliond in Q1 2026, $1.16 billion in Q2 2026 and $1.32 billion in Q3 2026, or $5.80 per diluted share against $2.63 in Q3 2025. Q3 2026 sales were $11.25 billion, and steel mills pretax earnings rose to $1.79 billion from $1.56 billion in Q2 2026. That Q2 2026 figure included a $130 million raw materials refund that did not recur. Nine-month operating cash flow was $4.52 billion, and cash reached $3.64 billion. Executives Sumoski and Needham retired in June 2026.

Bull case: pricing and backlogs are rising, capital spending is falling to about $2.50 billione, and buybacks continue at about $247.04 per share. Bear case: shares closed at $271.81, or 36.1x FY2025 earnings as of August 11, 2026, and management guides Q4 2026 only flat to modestly higher.

What to watch: Q4 2026 steel mills pricing and raw materials margins; pace of buybacks against the $3.62 billion remaining authorization as of Q2 2026

03—Filings

Recent SEC Filings

  1. 8-KNucor 8-K Report, Financial Results (Oct 26, 2026)Nucor Corporation reported third-quarter 2026 results for the quarter ended October 3, 2026, with net earnings attributable to Nucor stockholders of $1.32 billion, or $5.80 per diluted share, on net sales of $11.25 billion. That compares with $1.16 billion, or $5.04 per diluted share, in the second quarter of 2026 and $607 million, or $2.63 per diluted share, in the third quarter of 2025. Third-quarter EBITDA was $2.28 billion. The steel mills segment drove the sequential improvement, with earnings before income taxes and noncontrolling interests of $1.79 billion, up from $1.56 billion in the second quarter. The second quarter had included a $130 million cash refund on prior-period raw material costs that did not recur, and a $61 million non-cash Helion valuation benefit. Cash generation and capital returns were strong. For the first nine months of 2026, cash provided by operating activities was $4.52 billion and capital expenditures were $1.86 billion, for free cash flow of $2.66 billion. Nucor returned about $629 million to stockholders in the third quarter and about $1.36 billion year to date, and the Board declared a $0.56 per share dividend payable November 10, 2026. The company ended the quarter with $3.64 billion in cash, cash equivalents and short-term investments, an undrawn $2.25 billion revolving credit facility, and total debt of $7.09 billion. Management expects fourth-quarter 2026 earnings to be generally in line with or modestly higher than the third quarter, with stable steel mills and steel products earnings and slightly lower raw materials earnings. Operationally, the company highlighted first heat at its West Virginia sheet mill in September, with production expected to begin in 2027, and the start-up of a second galvanizing line at Nucor Steel Berkeley. The Louisiana carbon capture facility began operations in the third quarter of 2026. Steel mills shipments reached 7.2 million tons in the quarter, and the company cited backlogs extending into mid-2027 for many products.
  2. 8-KNucor 8-K Report, Financial Results (Jul 27, 2026)Nucor Corporation (NYSE: NUE) furnished a Form 8-K on July 27, 2026 reporting results for the second quarter ended July 4, 2026, via a news release (Exhibit 99.1) and an earnings call investor presentation (Exhibit 99.2). Net earnings attributable to Nucor stockholders were $1.16 billion, or $5.04 per diluted share, compared with $743 million, or $3.23 per diluted share, in the first quarter of 2026 and $603 million, or $2.60 per diluted share, in the second quarter of 2025. Excluding a non-cash, pre-tax benefit of $61 million ($0.20 per diluted share) tied to the increase in the value of its investment in Helion, a fusion energy company, adjusted net earnings were $1.11 billion, or $4.84 per diluted share. Net sales were $10.40 billion. Management attributed the sequential improvement mainly to the steel mills segment, which benefited from higher average selling prices and volumes and a $130 million reduction to cost of products sold from cash refunds tied to prior periods' raw materials procurement costs. The balance sheet and capital return picture remained strong. Nucor reported $2.69 billion in cash, cash equivalents and short-term investments, and its $2.25 billion revolving credit facility was undrawn and runs to March 2030. The company returned about $479 million to stockholders in the quarter through buybacks and dividends, including repurchases of about 1.53 million shares at an average price of $228.76, and declared a $0.56 quarterly dividend payable August 11, 2026, its 213th consecutive quarterly cash dividend. The filing also notes ratings of A-/A-/A3 with stable outlooks from S&P, Fitch and Moody's. For the third quarter of 2026, Nucor expects higher consolidated reported earnings, driven by higher realized pricing in steel mills and steel products, higher steel products volumes, and lower raw materials earnings from lower margins. Management noted it does not expect further material benefit from raw material refunds. The filing also describes the West Virginia sheet mill as on time and on budget, with production beginning in 2027.
  3. 8-KNucor 8-K/A Report, Executive Changes (Jun 22, 2026)Nucor Corporation (NUE) filed Amendment No. 1 to its Current Report on Form 8-K to amend the Original 8-K it filed with the SEC on March 3, 2026, which covered, among other things, the retirement of Daniel R. Needham. The amendment states that the rest of the Original 8-K's disclosure is unchanged. The substantive new disclosure concerns Mr. Needham's departure: on June 16, 2026, the Company and Mr. Needham entered into a Retirement, Separation, Waiver and Release Agreement, with his retirement effective June 20, 2026. Under the agreement, in consideration for a comprehensive release of claims and his post-employment restrictive covenants, Mr. Needham will receive monthly payments of $254,972.34 for the 24 months following his retirement. His covenants include not competing with the Company, not disclosing confidential information or trade secrets, not soliciting customers or suppliers, not hiring Company employees, and not making disparaging statements. He has also agreed to assign to the Company any inventions or ideas conceived during his employment. Effective June 20, 2026, he will resign from all positions with the Company and its subsidiaries and affiliates. The agreement, together with the surviving provisions of his Executive Employment Agreement effective February 1, 2021, is stated to contain the entire agreement between the parties on his employment. The full agreement is filed as Exhibit 10.1, and the filing includes an Inline XBRL cover page as Exhibit 104.
  4. 8-KNucor 8-K/A Report, Executive Changes (Jun 2, 2026)Nucor Corporation filed Amendment No. 1 to its Current Report on Form 8-K to amend the Original 8-K it filed with the SEC on December 4, 2025, which concerned, among other things, the retirement of David A. Sumoski. The disclosure in the Original 8-K otherwise remains unchanged. This amendment reports Item 5.02 and Item 9.01 information. Under a Retirement, Separation, Waiver and Release Agreement dated May 28, 2026, Mr. Sumoski will retire effective June 13, 2026, and resign from all positions he holds with the Company and its direct and indirect subsidiaries and affiliates as of that date. The agreement, together with the surviving provisions of his Executive Employment Agreement effective January 1, 2021, is stated to contain the entire agreement between the parties and supersede prior agreements related to his employment. In exchange for a comprehensive release of claims and his post-employment restrictive covenants, Mr. Sumoski will receive monthly payments of $308,850.56 for 24 months following retirement. The covenants include a 24-month non-compete, non-solicitation of customers, suppliers and employees, and non-disparagement, along with an assignment of inventions conceived during his employment. The full agreement is filed as Exhibit 10.1.
  5. 8-KNucor 8-K Report, Shareholder Vote Results (May 19, 2026)Nucor Corporation (NUE) filed this Current Report on Form 8-K to disclose the results of its 2026 annual meeting of stockholders, held on May 14, 2026. Stockholders elected all eight of the company's director nominees to serve until the 2027 annual meeting or until their successors are elected and qualified. Each nominee received more votes "for" than "withheld," though the margins varied, with Patrick J. Dempsey (170,470,960 for; 5,181,530 withheld) and Christopher J. Kearney (166,861,181 for; 8,791,309 withheld) and Leon J. Topalian (166,783,787 for; 8,868,703 withheld) drawing the most withheld votes. Stockholders also ratified the appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm for 2026, with 191,045,084 votes for, 10,966,251 against, and 356,388 abstentions. In a separate advisory vote, stockholders approved the compensation of the company's named executive officers for 2025, with 167,456,504 votes for, 7,237,903 against, and 958,083 abstentions. The filing is primarily procedural and contains no new financial results or strategic announcements. The proposals were described in the company's definitive proxy statement on Schedule 14A, filed with the SEC on March 27, 2026, which the filing references for further detail.
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04—See also

Related Companies

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