How did Nucor perform in the second quarter of 2026?

Nucor reported net earnings attributable to Nucor stockholders of $1.16 billion, or $5.04 per diluted share, on net sales of $10.40 billion. Excluding a $61 million non-cash, pre-tax benefit tied to its Helion investment, adjusted earnings were $4.84 per diluted share.

What drove the increase in earnings from the first quarter?

The filing attributes the increase mainly to the steel mills segment, which had higher average selling prices and higher volumes, plus a $130 million reduction to cost of products sold from cash refunds on prior periods' raw materials procurement costs. Steel products improved on higher volumes with stable pricing, and raw materials earned more on higher prices and shipments.

What does Nucor expect for the third quarter of 2026?

Nucor expects higher consolidated reported earnings in Q3 2026. Steel mills should see higher realized pricing with stable volumes, while steel products should benefit from higher volumes and pricing. Raw materials earnings are expected to decline on lower margins, and the company does not expect further material benefit from raw material refunds.

How strong is Nucor's balance sheet and how much did it return to shareholders?

Nucor had $2.69 billion of cash and short-term investments and an undrawn $2.25 billion revolving credit facility. It returned about $479 million to stockholders in Q2 through share repurchases and dividends and declared a $0.56 per share dividend payable August 11, 2026. The filing cites credit ratings of A-, A- and A3 with stable outlooks.

NUE 8-K: Earnings & Results & Regulation FD

01—Abstract

Summary

Summary of the 8-K filed July 27, 2026. Cited figures are marked; the original filing is the authoritative source.

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^a, 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^b 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^c 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.

02—Key points

Key Highlights

Q2 2026 net earnings attributable to Nucor stockholders of $1.16 billion, or $5.04 per diluted share, up from $743 million ($3.23) in Q1 2026 and $603 million ($2.60) in Q2 2025.
Adjusted net earnings of $1.11 billion, or $4.84 per diluted share, after excluding a non-cash, pre-tax $61 million benefit ($0.20 per diluted share) from the Helion investment valuation.
Net sales of $10.40 billion; EBITDA of $2.02 billion, compared with $1.51 billion in Q1 2026 and $1.30 billion in Q2 2025.
Steel mills segment pre-tax earnings of $1.56 billion, including a $130 million reduction to cost of products sold from cash refunds on prior periods' raw materials procurement costs.
Strong liquidity: $2.69 billion of cash and short-term investments and an undrawn $2.25 billion revolver maturing March 2030.
Returned about $479 million to stockholders in Q2 and declared a $0.56 quarterly dividend, the 213th consecutive quarterly cash dividend.
Guidance: higher consolidated reported earnings expected in Q3 2026, led by higher realized pricing in steel mills and steel products.

03—Questions

Frequently Asked Questions

How did Nucor perform in the second quarter of 2026?
Nucor reported net earnings attributable to Nucor stockholders of $1.16 billion, or $5.04 per diluted share, on net sales of $10.40 billion. Excluding a $61 million non-cash, pre-tax benefit tied to its Helion investment, adjusted earnings were $4.84 per diluted share.
What drove the increase in earnings from the first quarter?
The filing attributes the increase mainly to the steel mills segment, which had higher average selling prices and higher volumes, plus a $130 million reduction to cost of products sold from cash refunds on prior periods' raw materials procurement costs. Steel products improved on higher volumes with stable pricing, and raw materials earned more on higher prices and shipments.
What does Nucor expect for the third quarter of 2026?
Nucor expects higher consolidated reported earnings in Q3 2026. Steel mills should see higher realized pricing with stable volumes, while steel products should benefit from higher volumes and pricing. Raw materials earnings are expected to decline on lower margins, and the company does not expect further material benefit from raw material refunds.
How strong is Nucor's balance sheet and how much did it return to shareholders?
Nucor had $2.69 billion of cash and short-term investments and an undrawn $2.25 billion revolving credit facility. It returned about $479 million to stockholders in Q2 through share repurchases and dividends and declared a $0.56 per share dividend payable August 11, 2026. The filing cites credit ratings of A-, A- and A3 with stable outlooks.

04—Continue

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