Company Announcements
July 28, 2026
Nucor earnings jump in Q2 on higher prices, steel mill shipments
Written by Ethan Bernard
Nucor Corp.
| Second quarter ended July 4 | 2026 | 2025 | % Change |
|---|---|---|---|
| Net sales | $10,397 | $8,456 | 23% |
| Net income (loss) | $1,156 | $603 | 91.7% |
| Per diluted share | $5.04 | $2.60 | 93.8% |
| Six months ended July 4 | |||
| Net sales | $19,893 | $16,286 | 22.1% |
| Net income (loss) | $1,899 | $759 | 150.2% |
| Per diluted share | $8.27 | $3.26 | 153.7% |
Nucor’s earnings nearly doubled in the second quarter on the back of higher prices and shipments in its steel mills segment.
The Charlotte, N.C.-based steelmaker posted net income attributable to Nucor shareholders of $1.16 billion in the second quarter, up 92% from $603 million a year earlier. Net sales rose 23% to $10.4 billion in the same comparison.
Its steel mills segment logged total shipments of 7.1 million short tons, up 1% sequentially and 10% year over year.
“Investment across key sectors of the US economy, combined with supportive federal trade policies, drove a second consecutive quarterly record for Nucor steel mill shipments,” Nucor Chair and CEO Leon Topalian said in a statement on Monday after market close.
The company attributed the increase in Q2’26 profits primarily to the rise in earnings in the steel mills segment. It reported both higher average selling prices and higher volumes.
Also, the steel mills segment’s earnings included a $130-million reduction to cost of products sold. This was related to cash refunds associated with previous periods’ raw materials procurement costs.
Nucor cited “increased volumes and stable average realized pricing” for the steel products segment’s improved earnings.
And for the raw materials segment, Nucor said higher Q2’26 earnings were primarily due to increased average selling prices and shipments.
The company also had a non-cash, pre-tax benefit of $61 million included in Q2’26 marketing, administrative and other expenses. This was related to the increase in value of its investment in Helion, a fusion energy company, after it completed a capital financing round Q2’26.
Outlook
Nucor expects higher reported earnings in Q3’26 vs. the previous quarter.
For the steel mills segment, the company anticipates an increase in earnings from higher prices across all major product categories with stable volumes.
In the steel products segment, Nucor expects higher earnings on both higher volumes and higher pricing.
However, the raw materials segment is projected to report weaker earnings due to lower margins.
