Charlotte – September 19, 2026 -- Nucor Corporation (NYSE: NUE) forecast third-quarter 2026 earnings of $5.55 to $5.65 per diluted share, more than doubling the $2.63 per share it posted in the same period of 2025.
The guidance, covering the quarter ending October 3, 2026, compares against second-quarter 2026 net earnings of $5.04 per diluted share and adjusted net earnings of $4.84 per diluted share once a one-time gain is stripped out.
Steel mills and steel products segments drive the projected sequential gain
Nucor expects earnings to rise in both its steel mills and steel products segments quarter-over-quarter, while its raw materials segment is set to decline. The steel mills segment is expected to benefit from higher average selling prices and stable shipment volumes, though higher costs of products sold will partially offset that gain. Steel products earnings are projected to increase on higher volumes and higher average realized pricing.
A $130 million refund will not repeat, tempering the mills segment comparison
Second-quarter steel mills results had been lifted by $130 million in cash refunds tied to prior periods' raw material procurement costs, a benefit Nucor said will not recur in the third quarter. The raw materials segment, meanwhile, faces lower pricing and reduced shipments in the current period.
Helion valuation gain vanishes, pushing corporate expense higher
Nucor's second-quarter results included a non-cash, pre-tax benefit of $61 million, or $0.20 per diluted share, from an increase in the valuation of its investment in fusion energy company Helion. That gain will not repeat in the third quarter, and combined with intersegment profit eliminations consistent with the prior quarter, corporate and eliminations expense is expected to rise.
Buybacks continue as Nucor returns $1.36 billion to shareholders year-to-date
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 dividend payments so far in 2026.
Formal results are scheduled for release in late October
Nucor plans to release third-quarter earnings after markets close on Monday, October 26, 2026, followed by a conference call on Tuesday, October 27, 2026, at 10:00 a.m. Eastern Time to review results.