Nucor Q2 2026 Results Overview

Nucor Corporation reported second‑quarter 2026 adjusted earnings per share of $4.84, surpassing the analyst consensus estimate of $4.37. Consolidated revenue for the quarter was $10.40 billion, exceeding the consensus forecast of $10.14 billion. Revenue represented a 72 percent year‑over‑year increase from $6.04 billion recorded in the second quarter of 2025.

Adjusted net earnings attributable to Nucor stockholders amounted to $1.11 billion, up from $603 million in the comparable prior‑year quarter. The steel mills segment was the primary driver of earnings growth, benefiting from higher average selling prices, record shipment volumes, and a $130 million reduction in cost of products sold due to cash refunds from earlier raw‑material procurement costs. The steel products segment also contributed, while the raw materials segment posted lower margins.

Leon Topalian, Chair and Chief Executive Officer, stated that investment across key U.S. economic sectors combined with supportive federal trade policies produced a second consecutive quarterly record for Nucor steel‑mill shipments.

Shareholder Returns and Capital Position

During the quarter Nucor returned approximately $479 million to shareholders through a cash dividend and share repurchases. The board declared a cash dividend of $0.56 per share on 9 June 2026, payable on 11 August 2026, marking the company’s 213th consecutive quarterly dividend. The company repurchased roughly 1.53 million shares at an average price of $228.76 per share.

At quarter‑end, Nucor held $2.69 billion in cash and short‑term investments, and its $2.25 billion revolving credit facility remained completely undrawn.

Outlook for Q3 2026

Nucor guided to higher consolidated reported earnings in the third quarter of 2026 relative to the second quarter. The guidance anticipates continued pricing strength across all major product categories in the steel mills segment with stable shipment volumes, incremental volume and pricing gains in the steel products segment, and reduced earnings in the raw materials segment due to lower margins.

Market Reaction

Following the release, Nucor shares declined 1.2 percent.