Nucor Corporation (NUE) Q3 2025 Financial Results Summary
· Stocks · QuoteReporter
Nucor Corporation (NUE) Q3 2025 Financial Results Summary
Release Date: October 27, 2025
Nucor Corporation (NYSE: NUE) reported its financial results for the third quarter of 2025, showcasing strong earnings and strategic developments, as outlined below:
Financial Highlights
- Net Earnings:
- $607 million, or $2.63 per diluted share (Q3 2024: $250 million, or $1.05 per diluted share; growth of 143%)
- Net Sales:
- $8.52 billion (Q3 2024: $7.44 billion; growth of 14%)
Earnings Breakdown by Segment (in millions)
- Steel Mills:
- Q3 2025: $793 (Q2 2025: $843; decrease of 6%; Q3 2024: $309; growth of 157%)
- Steel Products:
- Q3 2025: $319 (Q2 2025: $392; decrease of 19%; Q3 2024: $314; growth of 2%)
- Raw Materials:
- Q3 2025: $43 (Q2 2025: $57; decrease of 25%; Q3 2024: $(66); growth as losses turned to earnings)
- Corporate Losses:
- Q3 2025: $(272) (Q2 2025: $(393); decrease of 31%; Q3 2024: $(168); increase of losses)
Operational Insights
- Nucor achieved EBITDA of $1.27 billion for the quarter.
- The company continued to ramp up production in several key areas, including:
- Bar mill projects
- Sheet steel production
- Coating projects
- Pole production at the Alabama Towers & Structures facility
- Almost $1 billion returned to shareholders year-to-date, representing over 70% of net earnings through Q3 2025.
Financial Strength
- End of Q3 2025 cash position:
- $2.75 billion in cash and cash equivalents.
- The company has a $2.25 billion revolving credit facility, undrawn and set to expire in March 2030.
- It holds the strongest credit ratings in the North American steel sector (A-/A-/A3, stable outlook).
- In September 2025, Moody’s upgraded Nucor’s long-term credit rating to A3 from Baa1.
Shareholder Returns
- Dividends:
- A cash dividend of $0.55 per share declared on September 4, 2025, payable on November 10, 2025.
- This marks Nucor’s 210th consecutive quarterly cash dividend.
- Share Repurchase:
- Approximately 0.7 million shares repurchased at an average price of $140.46 per share.
- Total repurchase for the first nine months of 2025 stands at 4.8 million shares with an average price of $126.26 per share.
- Approximately $506 million remains authorized for further repurchases.
Outlook for Q4 2025
- Expected earnings are anticipated to be lower than Q3 2025, primarily due to:
- Lower overall volumes in the steel mills segment.
- Expected decrease in average selling prices in sheet mills.
- Lower volumes and pricing issues in the steel products and raw materials segments.
Earnings Conference Call
- Nucor has scheduled an earnings call for October 28, 2025, at 10:00 a.m. Eastern Time to discuss the third quarter results and provide a business update.
Summary of Market Performance
- Nucor continues to execute its strategy of growing core steelmaking capabilities and expanding into adjacent markets, all while maintaining a robust financial position and strong returns to its shareholders.
| Three Months (13 Weeks) Ended October 4, 2025 | July 5, 2025 | September 28, 2024 | Nine Months (39 Weeks) Ended October 4, 2025 | September 28, 2024 |
|---|---|---|---|---|
| Net sales $8,521 | $8,456 | $7,444 | $24,807 | $23,658 |
| Costs, expenses and other: Cost of products sold $7,333 | $7,233 | $6,686 | $21,791 | $20,183 |
| Marketing, administrative and other expenses $300 | $304 | $244 | $885 | $883 |
| Equity in earnings of unconsolidated affiliates $(10) | $(10) | $(5) | $(24) | $(24) |
| Losses and impairments of assets $— | $11 | $123 | $40 | $137 |
| Interest expense (income), net $15 | $19 | $7 | $48 | $(33) |
| Earnings before income taxes and noncontrolling interests $883 | $899 | $389 | $2,067 | $2,512 |
| Provision for income taxes $200 | $193 | $86 | $452 | $538 |
| Net earnings before noncontrolling interests $683 | $706 | $303 | $1,615 | $1,974 |
| Earnings attributable to noncontrolling interests $76 | $103 | $53 | $249 | $234 |
| Net earnings attributable to Nucor stockholders $607 | $603 | $250 | $1,366 | $1,740 |
| Net earnings per share: Basic $2.63 | $2.60 | $1.05 | $5.89 | $7.23 |
| Diluted $2.63 | $2.60 | $1.05 | $5.88 | $7.22 |
| Average shares outstanding: Basic 229.9 | 230.6 | 236.5 | 231.1 | 239.7 |
| Diluted 230.2 | 230.8 | 236.8 | 231.4 | 239.8 |
| October 4, 2025 | December 31, 2024 |
|---|---|
| ASSETS Current assets: Cash and cash equivalents $2,221 | $3,558 |
| Short-term investments $524 | $581 |
| Accounts receivable, net $3,288 | $2,675 |
| Inventories, net $5,393 | $5,106 |
| Other current assets $382 | $555 |
| Total current assets $11,808 | $12,475 |
| Property, plant and equipment, net $14,821 | $13,243 |
| Goodwill $4,294 | $4,288 |
| Other intangible assets, net $2,943 | $3,134 |
| Other assets $910 | $800 |
| Total assets $34,776 | $33,940 |
| LIABILITIES Current liabilities: Short-term debt $136 | $225 |
| Current portion of long-term debt and finance lease obligations $31 | $1,042 |
| Accounts payable $2,145 | $1,832 |
| Salaries, wages and related accruals $899 | $903 |
| Accrued expenses and other current liabilities $1,046 | $975 |
| Total current liabilities $4,257 | $4,977 |
| Long-term debt and finance lease obligations due after one year $6,686 | $5,683 |
| Deferred credits and other liabilities $1,902 | $1,863 |
| Total liabilities $12,845 | $12,523 |
| EQUITY Nucor stockholders’ equity: Common stock $152 | $152 |
| Additional paid-in capital $2,233 | $2,223 |
| Retained earnings $31,255 | $30,271 |
| Accumulated other comprehensive loss, net of income taxes $(189) | $(208) |
| Treasury stock $(12,681) | $(12,144) |
| Total Nucor stockholders’ equity $20,770 | $20,294 |
| Noncontrolling interests $1,161 | $1,123 |
| Total equity $21,931 | $21,417 |
| Total liabilities and equity $34,776 | $33,940 |