Market Segment
December 17, 2025
Nucor sees lower Q4 earnings sequentially across all segments
Written by Ethan Bernard
Nucor has guided to lower earnings sequentially in the fourth quarter but to higher earnings compared to last year.
The Chalotte, N.C.-based steelmaker expects earnings to be in the range of $1.65 to $1.75 per diluted share in Q4’25. That compares with net earnings of $2.63 per diluted share in Q3’25 and $1.22 per diluted share in Q4’24.
The company anticipates lower earnings across all three of its operating segments vs. the third quarter due to seasonal effects and fewer shipping days in its fiscal quarter.
For the steel mills segment, Nucor projected earnings will decrease amid lower volumes and margin compression, primarily in sheet.
The steelmaker cited lower volumes and higher average costs per ton as drivers impacting its steel products segment. This will be partially offset by higher averaged realized pricing.
Finally, Nucor expects two scheduled outages at its direct-reduced iron (DRI) facilities will cause lower earnings in its raw materials segment.
2026 outlook
“As we look ahead into 2026, we are encouraged by backlogs that are materially higher than they were a year ago at this time,” Nucor said in a statement on Wednesday.
This reflects continued momentum in a few construction market segments such as energy, infrastructure, data centers, and manufacturing, the company said.
“We are also optimistic that monetary, tax, and trade policy will lead to continued gradual improvement in business conditions for Nucor,” the steelmaker added.
