Company Announcements
January 26, 2026
Nucor earnings rise in Q4'25, rosier outlook for current quarter
Written by Ethan Bernard
Nucor Corp.
| Fourth quarter ended Dec. 31 | 2025 | 2024 | % Change |
|---|---|---|---|
| Net sales | $7,687 | $7,076 | 8.6% |
| Net earnings (loss) | $378 | $287 | 31.7% |
| Per diluted share | $1.64 | $1.22 | 34.4% |
| Full year ended Dec. 31 | |||
| Net sales | $32,494 | $30,734 | 5.7% |
| Net earnings (loss) | $1,744 | $2,027 | -14.0% |
| Per diluted share | $7.52 | $8.46 | -11.1% |
Nucor reported higher profits in the fourth quarter on-year, and expects sequential improvements across all segments in the current quarter.
The Charlotte, N.C.-based steelmaker reported Q4’25 net earnings attributable to stockholders of $378 million, up 32% from $287 million in the same year-earlier period. Sales rose 9% to $7.7 billion in the same comparison.
Nucor’s shipments from its steel mills segment totaled 5.9 million short tons in Q4’25, off 8% sequentially but up 5% from a year earlier.
“During the year, we brought several major projects online, including our new rebar micro‑mill in Lexington, N.C., Kingman, Ariz., melt shop, our Alabama Towers and Structures facility, and our coating complex in Crawfordsville, Ind.,” Leon Topalian, Nucor chair and CEO, said in a statement after market close on Monday.
“As these and other recently completed projects ramp up, they are beginning to deliver meaningful earnings contributions, and we believe they will play an important role in strengthening our earnings power over time,” he added.
Q4’25 segment performance falls sequentially
However, quarter over quarter, Nucor said earnings declined in Q4’25 in its steel mills segment on lower volumes and margin compression, primarily in sheet.
For the steel products segment, earnings slipped sequentially due to lower volumes and higher average costs per ton. This was partially offset by higher average realized pricing.
Finally, the raw materials segment notched an earnings decline in the fourth quarter as a result of two scheduled outages at Nucor’s direct-reduced iron facilities. These were partially offset by insurance recoveries.
Q1’26 outlook
Nucor expects earnings to rise in the first quarter of 2026 over Q4’25 across all of its business segments. The largest jump is anticipated in the steel mills segment.
The predicted increase in the steel mills segment is due to higher volumes and higher realized prices across all major product categories.
For the steel products segment, “we expect improved earnings in the first quarter due to increased volumes on stable pricing.”
And the raw materials segment is also seen having higher earnings in the first quarter of 2026.
More broadly, Topalian said: “Looking ahead to 2026, we are encouraged by robust demand in several key end markets, historically strong backlogs, and federal policies that support a vibrant domestic steel industry.”
