Nucor Corporation (NUE) Q1 2026 Financial Results Summary

On April 27, 2026, Nucor Corporation (NYSE: NUE) announced its financial results for the first quarter of 2026, showcasing significant growth across its segments.

Key Financial Highlights:

• Net earnings attributable to Nucor stockholders:
• $743 million (or $3.23 per diluted share)
• Up from $378 million (or $1.64 per diluted share) in Q4 2025, representing a growth of 96.4%
• Up from $156 million (or $0.67 per diluted share) in Q1 2025, representing a growth of 376.3%
• Net sales:
• $9.50 billion
• Increased from $7.69 billion in Q4 2025, representing 24% growth
• Increased from $7.83 billion in Q1 2025, representing 21% growth
• Net earnings before noncontrolling interests:
• $870 million
• Growth from $423 million in Q4 2025, a rise of 105.4%
• Growth from $226 million in Q1 2025, a rise of 285.4%
• EBITDA:
• $1.51 billion
• Increased from $918 million in Q4 2025, representing an increase of 64.4%
• Increased from $696 million in Q1 2025, representing an increase of 116.5%

Segment Performance:

• Steel mills:
• Earnings of $1.13 billion, up from $516 million in Q4 2025, representing a growth of 118.4%
• Increased from $231 million in Q1 2025, representing a growth of 388.3%
• Steel products:
• Earnings of $285 million, slightly up from $230 million in Q4 2025.
• Slight decrease from $288 million in Q1 2025, representing a decrease of 1%.
• Raw materials:
• Earnings of $45 million, up from $24 million in Q4 2025, representing a growth of 87.5%
• Up from $29 million in Q1 2025, representing a growth of 55.2%.
• Corporate segment:
• Reported losses of $362 million, increased from $269 million in Q4 2025, and from $263 million in Q1 2025.

Financial Strength:

• Cash and cash equivalents:
• $2.48 billion on hand at the end of Q1 2026, slightly decreased from $2.26 billion at the end of Q4 2025.
• Revolving credit facility:
• $2.25 billion remains undrawn, expiring March 2030.
• Credit ratings:
• Nucor maintains strong ratings (A-/A-/A3) with a stable outlook from Standard & Poor’s, Fitch Ratings, and Moody’s.

Capital Returns to Shareholders:

• Share repurchase:
• Approximately 0.7 million shares repurchased at an average price of $175.19 per share.
• Total $250 million returned to stockholders year-to-date, in the form of share repurchases and dividends.
• Authorization for up to $4 billion in repurchases approved, with $3.97 billion remaining.
• Quarterly dividend:
• A cash dividend of $0.56 per share declared, payable on May 11, 2026, for stockholders of record as of March 31, 2026. This is Nucor’s 212th consecutive quarterly cash dividend.

Outlook for Q2 2026:

Expected higher consolidated earnings in Q2 2026, with growth anticipated across all operating segments. Steel mills segment: expectations for higher realized selling prices with stable volumes. Steel products segment: improved earnings anticipated due to higher volumes on stable pricing. Raw materials segment: expected to see increased earnings due to higher realized pricing.

Conference Call:

An earnings call is scheduled for April 28, 2026, at 10:00 a.m. ET to discuss these results and provide further business updates.

Nucor is focused on strong execution of its growth strategy, ensuring robust returns for shareholders while striving to be the safest steel company globally.

Note: The amounts in the following tables are in millions.

Condensed Consolidated Statements of Earnings (Unaudited)

Three Months (13 Weeks) Ended	April 4, 2026	December 31, 2025	April 5, 2025
Net sales	$9,496	$7,687	$7,830
Costs, expenses and other:
Cost of products sold	7,995	6,825	7,225
Marketing, administrative and other expenses	378	334	281
Equity in earnings of unconsolidated affiliates	(7)	(11)	(4)
Losses and impairments of assets	15	27	29
Interest expense, net	19	11	14
Earnings before income taxes and noncontrolling interests	1,096	501	285
Provision for income taxes	226	78	59
Net earnings before noncontrolling interests	870	423	226
Earnings attributable to noncontrolling interests	127	45	70
Net earnings attributable to Nucor stockholders	$743	$378	$156
Net earnings per share:
Basic	$3.23	$1.64	$0.67
Diluted	$3.23	$1.64	$0.67
Average shares outstanding:
Basic	228.9	229.3	232.7
Diluted	229.3	229.6	232.9

Condensed Consolidated Balance Sheets (Unaudited)

April 4, 2026	December 31, 2025
ASSETS
Current assets:
Cash and cash equivalents	$2,226	$2,260
Short-term investments	255	439
Accounts receivable, net	3,567	3,105
Inventories, net	5,644	5,462
Other current assets	396	499
Total current assets	12,088	11,765
Property, plant and equipment, net	15,596	15,306
Goodwill	4,295	4,297
Other intangible assets, net	2,817	2,880
Other assets	839	856
Total assets	$35,635	$35,104
LIABILITIES
Current liabilities:
Short-term debt	$134	$122
Current portion of long-term debt and finance lease obligations	113	90
Accounts payable	2,109	1,890
Salaries, wages and related accruals	701	882
Accrued expenses and other current liabilities	1,110	1,020
Total current liabilities	4,167	4,004
Long-term debt and finance lease obligations due after one year	6,877	6,909
Deferred credits and other liabilities	2,043	2,067
Total liabilities	13,087	12,980
Commitments and contingencies
EQUITY
Nucor stockholders’ equity:
Common stock	152	152
Additional paid-in capital	2,274	2,253
Retained earnings	32,118	31,504
Accumulated other comprehensive loss, net of income taxes	(206)	(194)
Treasury stock	(12,885)	(12,779)
Total Nucor stockholders’ equity	21,453	20,936
Noncontrolling interests	1,095	1,188
Total equity	22,548	22,124
Total liabilities and equity	$35,635	$35,104

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