The Quick Take
Nucor more than doubled its earnings on higher prices and volumes. Diluted EPS of $5.80 compared with $2.63 a year ago and cleared the roughly $5.71 consensus. Net sales jumped 32% to $11.25B, and management guided Q4 earnings in line with or modestly above Q3.
Results
| Metric | Q3 2026 | Q3 2025 |
|---|---|---|
| Net sales | $11,249M | $8,521M (up 32%) |
| Net earnings | $1,319M | $607M (up 117%) |
| Diluted EPS | $5.80 | $2.63 |
| EBITDA | $2,279M | $1,265M (up 80%) |
| Capacity utilisation | 89% | 85% |
Capital returns
- About $500M of buybacks in Q3; about $1.36B returned over nine months.
- Quarterly dividend $0.56, payable 10 November 2026.
Risks
- Steel prices are cyclical; tariff or import changes could reverse gains.
- Higher input and energy costs.
- The stock trades at a premium to its historical average.
Recommendation: HOLD / accumulate on dips
After a doubling of earnings, adding on pullbacks is more attractive than chasing.
Educational purposes only, not investment advice. Do your own research before investing.
Sources: Nucor Q3 2026 earnings release (SEC Form 8-K exhibit 99.1); Stocktitan (as cited in the report).
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