Nucor Corporation engages in the manufacture and sale of steel and steel products. The company operates in three segments: Steel Mills, Steel Products, and Raw Materials. The Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling structural steel products; and bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products. This segment sells its products to steel service centers, fabricators, and manufacturers in the United States, Canada, and Mexico, as well as engages in the steel trading and rebar distribution businesses. The Steel Products segment offers steel joists and joist girders, steel decks, and galvanized torque tubes for use in solar arrays, hollow structural section steel tubing, electrical conduit, fabricated concrete reinforcing steel, cold finished steel, steel fasteners, steel grating and expanded metal, wire and wire mesh, metal building systems, insulated metal panels, steel racking, overhead doors, and utility towers and structures for communications and energy transmission. This segment is also involved in the piling distribution business. The Raw Materials segment produces direct reduced iron (DRI); brokers ferrous and nonferrous metals, pig iron, hot briquetted iron, and DRI; supplies ferro-alloys; processes ferrous and nonferrous scrap metal; and engages in the natural gas production and industrial gas business. This segment sells its ferrous scrap to electric arc furnace steel mills and foundries for manufacturing process; and nonferrous scrap metal to aluminum can producers, secondary aluminum smelters, steel mills and other processors, and consumers of various nonferrous metals. Nucor Corporation was founded in 1905 and is based in Charlotte, North Carolina.
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Nucor Shares Down 6.8% Since Q2 Earnings Beat
Nucor shares have fallen 6.8% since the company reported second-quarter earnings that beat estimates, underperforming the S&P 500. The steelmaker posted adjusted earnings of $4.84 per share, surpassing the Zacks Consensus Estimate of $4.57, while net sales rose 23% year over year to roughly $10.4 billion, also beating expectations. The Steel Mills segment, a key part of Nucor's business, saw earnings jump 84.6% to $1.56 billion, while the Steel Products segment earned $353 million, down 9.9%, and the Raw Materials segment delivered $146 million, up 156.1%. During the quarter, Nucor repurchased about 1.53 million shares at an average price of $228.76 per share. Looking ahead, the company expects higher consolidated earnings in the third quarter, with Steel Mills and Steel Products improving but Raw Materials declining. Estimates have trended upward over the past month, and Nucor holds a Zacks Rank #3 (Hold).
Alibaba announced plans to issue new shares to raise over $10 billion for AI infrastructure investment, sending its Hong Kong-listed shares down more than 8%. The move comes after the company reported a 75% drop in profits, with capital spending weighing on the bottom line. Separately, US steel stocks rose after trade talks between the US and Canada collapsed, paving the way for 50% tariffs on Canadian imports, with analysts saying Steel Dynamics and Nucor stand to benefit most. Wells Fargo downgraded Canada Goose to underweight, citing tariff pressure on full-year earnings and sales risk from a warmer winter.
US Poised to Cut Canadian Steel and Aluminum Tariffs to 25%, Autos to 15%
The United States and Canada are close to a trade deal that would lower tariffs on certain steel and aluminum imports from 50% to 25% and reduce tariffs on Canadian auto imports to 15% from 25%, according to a Bloomberg report on August 20, 2026, citing sources close to the negotiations. Details are still being finalized and may not apply to all goods at the same rate. Some downstream products could still face different tariff levels. The progress comes after President Donald Trump said the US had reached a deal with Canada and temporarily suspended the 50% tariffs to allow talks before a Friday deadline. The proposal under discussion would give Canada terms similar to those for the United Kingdom, which received 25% steel tariffs, and Japan and South Korea, which received 15% auto tariffs. Canadian Prime Minister Mark Carney said negotiators are moving toward the best possible deal for the country's strategic industrial sectors, but tariffs of 15% to 25% remain far above historical norms and could create domestic political pressure, as well as pressure on Mexico, which has not yet reached a deal with the US. Financial markets responded positively, with the Canadian dollar strengthening to around 1.3809 per US dollar, its strongest level since June 1. Algoma Steel Group shares jumped 16.6% in Toronto, while US steel producers such as Nucor fell 5.9% and Century Aluminum dropped 4.6%. Canada is the largest source of US aluminum imports, accounting for roughly half of total US consumption, but US industry groups are pressing against tariff cuts covering all products, warning that around 125,000 American aluminum industry jobs could be affected.
Berkshire Hathaway boosts Alphabet stake 83% in second quarter
Berkshire Hathaway significantly increased its Alphabet stake in the second quarter of 2026, raising its holdings by 83% to about 106 million shares. The position was worth nearly $38 billion at the end of June, making Alphabet the third-largest holding in Berkshire's U.S. stock portfolio, behind Apple and American Express. Berkshire also increased its stake in Delta Air Lines by 44% during the quarter, taking that position to about $5.4 billion as of June 30. The company initiated a new position in D.R. Horton and significantly increased its holdings in Lennar and Macy's, while roughly halving its stakes in Capital One and Nucor and trimming Bank of America and Kroger. Berkshire also repurchased $4.5 billion of its own shares, marking its largest quarterly buyback since 2021.
US replaces expired 10% global tariff with Section 301 duties on 60 countries
The temporary 10% global tariff expired on July 24 and was immediately replaced by new Section 301 duties covering the top 60 US trading partners at rates of 10% to 12.5%. Those countries account for roughly 99.4% of all US imports. The legal shift from emergency powers to Section 301 of the Trade Act of 1974 makes the tariffs far harder to overturn in court, signaling they could become a lasting feature of the investment landscape. Nations that adopted or committed to forced-labor import bans pay 10%, while the other 46 pay 12.5%. The market reaction has been muted because the new rates roughly match what was already in place, but structurally a 10% to 12.5% charge on nearly all imports is now a standing cost of doing business.
Nucor declares 213th consecutive quarterly dividend as earnings double
Nucor Corporation declared a US$0.56 per share cash dividend, its 213th consecutive quarterly cash dividend, payable on August 11, 2026 to shareholders of record on June 30. For the quarter ended July 4, 2026, the company reported sales of US$10,397 million and net income of US$1,156 million, with earnings per share from continuing operations roughly doubling year over year. The results reflect improved pricing conditions and shipment volumes feeding through to profitability.
Global Iron and Steel Casting Market to Reach USD 320.07 Billion by 2035
The global iron and steel casting market is projected to grow from USD 185.79 billion in 2025 to USD 320.07 billion by 2035, at a compound annual growth rate of 5.59%, according to a new report by Custom Market Insights. The market is expected to reach USD 196.17 billion in 2026. Growth is driven by rising demand for durable, cost-effective metal components in automotive, construction, machinery, and infrastructure sectors, along with technological advancements in casting processes. Gray iron castings held the largest product segment share in 2025, while North America and Asia Pacific are identified as key growth regions. The report covers segmentation by material type, casting process, application, end use, and region, and profiles major players including ArcelorMittal, POSCO, and Nucor Corporation.
Diamond Hill Capital says Nucor gained from reduced import competition and supportive trade policy
Diamond Hill Capital's Large Cap Strategy highlighted Nucor Corporation as a key performance contributor in its second-quarter 2026 investor letter. The strategy noted that shares of the US steel producer rose as reduced import competition and supportive trade policy strengthened pricing power for domestic producers, while solid shipment volumes supported improved earnings, particularly in its steel mills segment. Nucor closed at $257.29 per share on July 31, 2026, with a one-month return of 14.90% and a 52-week gain of 87.83%, giving it a market capitalization of $58.59 billion. The Large Cap Strategy returned 3.42% net of fees for the quarter, trailing the Russell 1000 Value Index's 13.87% gain, as limited exposure to AI beneficiaries weighed on relative performance.
Ten of 13 S&P 500 materials stocks beat earnings estimates this week
Ten of the 13 S&P 500 materials companies that reported quarterly results this week surpassed earnings expectations, while three fell short, and 12 beat revenue forecasts. The State Street Materials Select Sector SPDR ETF fell nearly 2% for the week, compared to the S&P 500's 1% rise. Among the reporters, Nucor easily beat adjusted earnings estimates and achieved record steel shipments of 7.1 million tons, while LyondellBasell Industries posted an earnings beat but missed on revenue. Corteva raised its full-year 2026 guidance on a profit beat, though quarterly revenue missed by $220 million, and Air Products and Chemicals lifted its annual and fourth-quarter adjusted EPS guidance after third-quarter results topped estimates. Linde also reported a beat, supported by 7% growth in quarterly operating profit. Next week, Albemarle and DuPont de Nemours are scheduled to report second-quarter results, with analysts expecting Albemarle to post earnings of $3.24 per share on revenue of $1.63 billion and DuPont to report earnings of $1.76 per share on revenue of $1.81 billion.
US Trade Deficit Narrows to $101.5 Billion as Tariffs Reshape Winners and Losers
The US goods trade deficit narrowed to $101.5 billion in June 2026, down from $105.9 billion in May, as imports fell but domestic factories have not yet filled the gap. Nucor reported a 92% surge in net income and a 72% stock gain over one year, with finished steel import market share dropping from 23% to 16% under Section 232 enforcement. Consumer sentiment collapsed from 61.7 to 44.8 over the same period, while Lowe's shares fell 11% and gross margin compressed 70 basis points. Union Pacific's intermodal revenue jumped 26%, but Old Dominion Freight Line saw a 7.7% decline in tons per day, signaling that lower imports have not yet translated into more domestic freight. Walmart and Lowe's are absorbing higher costs, with Walmart's inventory up 8.9% and Lowe's comparable sales up just 0.6%.
JFE Targets Growth Markets in the U.S. and India, Differentiating with High-Grade Steel
JFE Holdings is focusing its steel business on the United States and India. In the U.S., it operates two joint ventures with Nucor, the largest electric arc furnace steelmaker, and President Yoshihisa Kitano highlighted high-grade steel categories such as electrical steel sheets and automotive steel sheets as key areas. In India, JFE invested 270 billion yen in a subsidiary of JSW Steel, fully participating in the operation of a steel plant with an annual crude steel production capacity of 4.5 million tons, and is eyeing expansion to 10 million tons by 2030 and further to 15 million tons. India's per capita steel consumption is around 100 kilograms per year, and President Kitano sees future motorization and electrification as the keys to growth.
Nucor rallies on strong quarter that CEO credits to Trump's aggressive tariffs
Nucor rallied 7.2% on Tuesday after easily beating second-quarter adjusted earnings estimates and reporting record steel shipments of 7.1 million tons. Net profit nearly doubled to $1.16 billion, or $5.04 per share, while revenue jumped 9% quarter-over-quarter and 23% year-over-year to $10.4 billion, driven by higher average selling prices and volumes in the steel mills segment. CEO Leon Topalian credited the Trump administration's Section 232 tariffs for the strong performance, saying vigorous enforcement of trade laws is curtailing unfairly traded steel imports. The company expects higher total earnings in the third quarter, with increased earnings in its steel mills and steel products segments, though raw materials earnings are expected to decline.
Nucor Reports Record Steel Mill Shipments and $2 Billion EBITDA in Q2 2026
Nucor Corp delivered a strong second quarter of 2026 with approximately $2 billion in EBITDA and earnings of $5.04 per share, or $4.84 per share on an adjusted basis. Steel mill shipments reached an all-time high of 7.1 million tons, marking the second consecutive quarter of record shipments, while steel products shipments increased 11% from the first quarter. The company returned $479 million to shareholders through dividends and share buybacks, representing 41% of net earnings of $1.2 billion. Capital expenditures were $571 million for the quarter, with full-year spending expected at $2.5 billion, and free cash flow hit $829 million, the strongest quarter since 2023. Nucor ended the quarter with $2.7 billion in cash and $3.4 billion in total liquidity, while total debt stood at 23% of capital.
Nucor Could Be 4% Undervalued After Q2 Results and Dividend Affirmation
Nucor could be 4.1% undervalued following its second quarter 2026 results and regular cash dividend affirmation, with a narrative fair value of $258.41 against a last close of $247.86. The company reported a significant capital reinvestment of $860 million, with two-thirds directed towards projects commencing operations within two years, expected to diversify and strengthen future earnings. Nucor's stock has returned 46.32% year to date and 73.80% over one year. On a price-to-earnings basis, Nucor trades at 24.3x earnings versus 18.7x for peers and 16.4x for the broader US Metals and Mining industry, while a fair ratio model sits at 25.4x.
Cadence Design, Rambus, Welltower lead after-hours stock moves on earnings beats and guidance raises
Several companies made notable after-hours moves following their latest earnings reports. Cadence Design Systems rose more than 4% after posting second-quarter adjusted earnings of $2.11 per share, beating the LSEG consensus of $2.05, while revenue of $1.58 billion met expectations. Rambus edged higher after reporting adjusted earnings of 77 cents per share on revenue of $207 million, exceeding analyst estimates of 72 cents and $198 million. Welltower jumped 4% after the senior housing real estate investment trust raised its full-year normalized funds from operations guidance to a range of $6.36 to $6.44 per share, above the FactSet consensus of $6.30. Universal Health Services dropped more than 4% after lowering its full-year adjusted earnings guidance to between $22.28 and $23.65 per share, down from a prior range of $22.64 to $24.52. Happen, the bank formerly known as LendingClub, advanced 4% after issuing full-year earnings guidance of $1.80 to $1.90 per share, surpassing the FactSet consensus of $1.74, and projecting loan originations of $12.2 billion to $12.6 billion. F5 gained nearly 2% after third-quarter adjusted earnings of $4.73 per share on revenue of $865 million topped the LSEG consensus of $4 per share and $388 million. Cincinnati Financial lost almost 4% after operating earnings of $1.43 per share missed the FactSet consensus of $1.84, and net premiums of $2.64 billion came in slightly below the expected $2.66 billion. Nucor dipped 1% despite beating second-quarter earnings and revenue expectations, with the stock already up more than 50% year to date. Principal Financial Group fell 3% even though operating earnings of $2.42 per share exceeded the FactSet consensus of $2.34, as the stock had already risen more than 25% this year.
Welltower, Cadence, Nucor Among 12 Companies Set to Report After-Hours Earnings on July 27
Twelve companies are scheduled to report quarterly earnings after the market closes on July 27, 2026. Welltower Inc. is expected to post earnings per share of $1.55, a 21.09% increase from the prior year, while Cadence Design Systems has a consensus forecast of $1.62, up 32.79%. Nucor Corporation is projected to report $4.57 per share, a 75.77% jump, and Celestica Inc. is seen earning $2.12, a 68.25% rise. Other notable reports include Cincinnati Financial with a forecast of $1.82, down 7.61%, and Amkor Technology at $0.47, more than doubling from last year. The full list also features Principal Financial Group, Brown & Brown, F5 Inc., Sun Communities, UDR Inc., and TFI International.
AstraZeneca stock rises to kick off a busy earnings week
AstraZeneca and Nucor report earnings on Monday, kicking off a busy week that will see results from major companies including SK Hynix, Visa, Coca-Cola, Boeing, Ford, ExxonMobil, and Chevron. The main focus will be on Big Tech earnings on Wednesday and Thursday, with Microsoft, Meta Platforms, Apple, and Amazon following last week's reports from Alphabet and Tesla that sent the tech sector into a tailspin. Analysts estimate the S&P 500's year-over-year earnings growth rate for the second quarter will be 23.2%, above the five-year average of 16.4% and the 10-year average of 10.3%, according to FactSet data. If that holds, it will mark the second consecutive quarter of earnings growth above 20% for the index and the seventh straight quarter of double-digit growth.
Nucor Investors Need $646,041 to Earn $500 Monthly From Dividends
Investors would need to hold approximately $646,041 worth of Nucor stock to generate $500 per month in dividend income, based on the steel producer's current annual dividend of $2.24 per share. That equates to about 2,679 shares, given Nucor's quarterly payout of 56 cents per share and an annual dividend yield of 0.93%. For a more modest target of $100 per month, an investment of roughly $129,256, or 536 shares, would be required. The calculation divides the desired annual income by the annual dividend per share, though the yield can fluctuate with changes in the stock price or dividend amount. Nucor is scheduled to report second-quarter earnings after the market closes on Monday, July 27, with analysts expecting earnings of $4.53 per share on revenue of $10.13 billion.
Nucor to report Q2 earnings with consensus EPS of $4.53 and revenue of $10.13 billion
Nucor is scheduled to announce its second-quarter earnings results on Monday, July 27th, after market close. The consensus EPS estimate stands at $4.53, while the consensus revenue estimate is $10.13 billion, representing a 19.7% year-over-year increase. Over the past year, Nucor has beaten EPS estimates 75% of the time and revenue estimates 75% of the time. In the last three months, EPS estimates have seen eight upward revisions and zero downward revisions, with revenue estimates also seeing eight upward revisions and zero downward revisions.
U.S. Hits Brazil With 25% Section 301 Tariff, Affecting Nucor and Embraer
The U.S. Trade Representative imposed a 25% Section 301 tariff on many Brazilian imports effective July 22, citing unfair trade practices. The tariffs cover thousands of products but exempt coffee, beef, orange juice, and aerospace components. Nucor, North America's largest steel producer, may benefit if buyers shift to domestic sourcing, though steel demand still hinges on industrial activity. Embraer, which derives nearly 60% of its revenue from North America, saw civil aircraft and hundreds of aerospace-related products exempted, limiting direct impact, but prolonged trade tensions could weigh on investor sentiment toward Brazilian exporters.
Wells Fargo downgrades Kaiser Aluminum to Underweight on stretched valuation
Wells Fargo downgraded Kaiser Aluminum to Underweight from Equal Weight, trimming its price target to $158 from $160, citing a stretched valuation that has not fully reflected the decline in aluminum prices. Analyst Timna Tanners noted that Kaiser is a smaller beneficiary of favorable aluminum scrap spreads due to its lower scrap utilization relative to peers. While higher second-quarter LME aluminum prices may temporarily boost reported EBITDA through lagged non-cash metal benefits, that tailwind is expected to fade in the second half of the year on softer LME prices. Tanners also upgraded Ternium to Equal Weight from Underweight with a $45 price target, up from $43, pointing to improving conditions in Mexico, lagged price hikes from U.S. increases, and new capacity that should begin contributing in the second half of 2026 and into fiscal 2027. She added that steel prices may be near a peak but the recent sharp selloff in equities could be overdone, and Nucor remains her top pick in the group.
Nucor Expects Q2 2026 GAAP EPS Between $4.70 and $4.80
Nucor provided its second-quarter 2026 earnings outlook, projecting GAAP earnings per share in the range of $4.70 to $4.80 and adjusted EPS between $4.50 and $4.60. The company's GAAP EPS was $2.60 in the second quarter of 2025. Nucor expects strong volumes and prices to benefit its quarterly earnings. The steel producer also noted it had returned $630 million to shareholders through dividends and share repurchases since the start of the year through June 17.
Nucor returned $1.2 billion to shareholders in 2025, nearly 70% of net earnings
Nucor Corporation returned around $1.2 billion to shareholders in 2025 through dividends and share repurchases, representing nearly 70% of net earnings. Returns to shareholders were $254 million in the first quarter of 2026, and roughly $630 million year to date through June 17, 2026. The company ended the first quarter with strong liquidity of about $3.2 billion, including cash and cash equivalents of around $2.2 billion, and generated cash from operations of $886 million. Nucor raised its quarterly dividend to 56 cents per share in December 2025, marking 53 consecutive years of increases, and remains committed to returning at least 40% of earnings to shareholders. Among peers, Steel Dynamics bought back $115 million in shares in the first quarter and raised its dividend 6% to 53 cents per share, while Commercial Metals repurchased $18.9 million in shares during its fiscal third quarter and held its dividend at 20 cents per share.
KeyBanc Upgrades Nucor to Overweight, Sets $274 Price Target
KeyBanc upgraded Nucor Corporation to Overweight from Sector Weight on June 24, setting a $274 price target. The firm expects real carbon steel demand to grow 2% year over year in 2026, while finished steel imports are projected to decline 15% compared with 2025. Analyst Samuel McKinney cited tight supply conditions with a virtually non-existent spot market and limited contract allocations, and views Nucor shares as compelling after a 10% decline over the previous six trading days. KeyBanc believes the historically tight domestic supply situation will support hot-rolled coil pricing through September. Earlier, on June 22, Morgan Stanley raised its price target on Nucor to $258 from $227 while reiterating an Equal Weight rating, noting that higher steel price expectations are already reflected in sector valuations.
VanEck Steel ETF Hits 52-Week High on AI Infrastructure Demand
The VanEck Steel ETF reached a new 52-week high earlier this month, driven by surging demand for steel in artificial intelligence infrastructure. The fund returned an average of 47.2% annually in 2025 and attracted $81.41 million in inflows over the past year, pushing assets under management above $203 million. AI data centers require heavy structural steel for server racks, reinforced flooring, and cooling systems, with 831 data center projects under construction globally as of March 2026. Despite a 0.3% year-over-year drop in global crude steel production in May 2026 and projected excess capacity of 745 million tons by 2028, the fund's top holdings like Nucor and Steel Dynamics operate modern electric arc furnaces that can adjust output while commanding premium prices for AI-grade steel. Near-term quantitative models assign a 65% probability of SLX outperforming the broader ETF universe, though risks include easing trade tariffs or a slowdown in AI capital spending.
Nucor Stock Rallies 46.9% Year to Date on Strong Demand and Higher Steel Prices
Nucor Corporation has seen its shares surge 46.9% year to date, outpacing the Zacks Steel Producers industry's 34.4% gain and the S&P 500's 8.9% increase, driven by healthy demand in non-residential construction, infrastructure, military and defense, and energy markets, along with higher U.S. steel prices. The Zacks Consensus Estimate for Nucor's 2026 earnings has been revised 30.1% upward over the past 60 days to $15.68 per share, implying a 103.4% year-over-year jump, while second-quarter 2026 estimates rose 31.6%. The company is advancing several growth projects, including a 3-million-ton-per-annum sheet mill in West Virginia expected to begin production in 2027, a 500,000-ton-per-annum galvanizing line in South Carolina, and a greenfield project in Utah on track for mid-2027, alongside recent acquisitions of Southwest Data Products and Rytec Corporation to expand its downstream portfolio. Nucor ended the first quarter of 2026 with roughly $3.2 billion in liquidity and generated $886 million in cash from operations, returning $254 million to shareholders in the quarter and approximately $630 million year to date through June 17, 2026, via buybacks and dividends. Benchmark hot-rolled coil prices have rebounded above $1,100 per short ton, supported by mill price increases, extended lead times, and reduced imports, which is expected to further boost margins for U.S. steelmakers including Nucor.
Morgan Stanley cuts Cleveland-Cliffs to Equal-weight, sees steel rally peaking
Morgan Stanley downgraded Cleveland-Cliffs to Equal-weight from Overweight, arguing that a supply-driven rally in U.S. steel prices is nearing its peak and that much of the benefit from elevated prices is already reflected in steel equities. The brokerage raised its near-term steel price forecasts after U.S. hot-rolled coil prices climbed to about $1,140 per short ton, supported by tight domestic supply, longer mill lead times, and higher import costs linked to Middle East disruptions, but it expects additional domestic production and rising imports to eventually ease the market, leading prices lower in 2027 and 2028. Morgan Stanley increased its price target on Cleveland-Cliffs to $12.50 from $12.00 but said the stock's roughly 50% rally since early April has left a more balanced risk-reward profile, with higher steel prices supporting near-term earnings but limited upside relative to peers. The bank now forecasts average hot-rolled coil prices of $1,112 per ton in 2026, $1,012 in 2027, and $900 in 2028, compared with previous estimates that were materially lower, and expects prices to remain elevated through the second half of 2026 before moderating as supply conditions normalize. Among North American steel producers, Morgan Stanley maintained an Overweight rating only on Commercial Metals Company, citing overly discounted concerns around new rebar supply, while keeping Equal-weight ratings on Nucor and Steel Dynamics and raising their price targets to $258 and $270, respectively. The firm also lifted its earnings forecasts across the sector to reflect stronger steel pricing, while cautioning that profitability is likely near a cyclical peak and could decline after 2027 as steel prices retreat from current levels.
Nucor Projects Second-Quarter Earnings Increase on Higher Prices
Nucor Corporation has issued second-quarter 2026 earnings guidance, projecting earnings per share between $4.70 and $4.80. Excluding a non-cash benefit related to its investment in fusion energy company Helion, adjusted EPS is expected to range from $4.50 to $4.60, up from $3.23 in the first quarter of 2026 and $2.60 in the second quarter of 2025. The company anticipates sequential growth across all three operating segments, with the steel mills segment seeing the largest increase due to higher average selling prices and stable volumes, aided by approximately $130 million in cash refunds tied to prior raw materials procurement costs. The steel products segment is expected to benefit from higher volumes and slightly improved pricing, while the raw materials segment should see gains from stronger realized prices. Nucor also continued returning capital to shareholders, repurchasing approximately 1.12 million shares at an average price of $223.47 and returning roughly $630 million through buybacks and dividends as of June 17, 2026.
A $1,000 Investment in Nucor 10 Years Ago Would Be Worth $4,842.70 Today
A $1,000 investment in Nucor made in June 2016 would be worth $4,842.70 as of June 19, 2026, representing a gain of 384.27 percent excluding dividends but including price increases. Over the same period, the S&P 500 returned 262.13 percent and gold returned 212.32 percent. Nucor, a leading U.S. steel producer headquartered in Charlotte, North Carolina, operates 123 facilities primarily in North America and is the continent's largest recycler, using scrap steel as its primary raw material. The company's first-quarter 2026 earnings and sales topped the Zacks Consensus Estimate, and analysts cite expansion projects, strong non-residential construction momentum, and higher steel prices as factors supporting further upside. Shares have gained 7.68 percent over the past four weeks, with six upward earnings estimate revisions for fiscal 2026 and none lower.
Steel Dynamics Expects Second-Quarter Earnings to Rise on Strong Demand and Higher Steel Prices
Steel Dynamics expects second-quarter 2026 earnings of $3.51 to $3.55 per share, up from $2.78 in the first quarter and $2.01 a year earlier, driven by significantly stronger profitability in its steel operations amid robust demand and expanding metal margins. The results include an estimated $16 million asset write-down tied to the relocation of a planned satellite aluminum recycled slab center from Arizona to Columbus, Michigan. Steel operations are projected to post meaningfully higher earnings as rising selling prices outpaced scrap raw material costs, with demand remaining strong across non-residential construction, energy, automotive and industrial markets. Metals recycling earnings are expected to be in line with the first quarter, while steel fabrication earnings are expected to decline sequentially due to higher steel input costs despite stronger shipments and a fabrication backlog that has risen nearly 40% from a year ago and extends into 2027. The aluminum segment is expected to deliver significantly improved earnings on higher shipments and stronger pricing, and the company repurchased $170 million of its common stock during the quarter.
Zacks Highlights Nucor, Ternium, Gerdau, and L.B. Foster as Steel Prices Surge
Zacks Equity Research identifies Nucor, Ternium, Gerdau, and L.B. Foster as steel producers poised to benefit from rising steel prices and steady demand in key markets. U.S. hot-rolled coil prices have surged above $1,100 per short ton, driven by tightened supply, plant outages, and reduced imports, while global prices also rise on China's output cuts and higher raw material costs. The non-residential construction market remains strong, and automotive demand is recovering, aided by electric vehicle adoption and improving affordability. Nucor, Ternium, and L.B. Foster each carry a Zacks Rank #1, with expected 2026 earnings growth of 103.8%, 118%, and 152.2% respectively, while Gerdau holds a Zacks Rank #2 with expected growth of 89.7%. The Zacks Steel Producers industry has gained 97.3% over the past year, outperforming the S&P 500's 29.9% rise.
Steel Dynamics slips on downside Q2 guidance while Nucor tops outlook
Steel Dynamics shares fell 2.6% after hours Wednesday after the company issued second-quarter earnings guidance that missed analyst expectations, while Nucor edged up 0.3% on an upside forecast. Steel Dynamics expects Q2 earnings of $3.51 to $3.55 per share, well below the $4.16 FactSet consensus, though above Q1 EPS of $2.78 and the prior-year Q2 EPS of $2.01. The guidance included a $16 million reduction to estimated earnings from asset writedowns tied to relocating a planned second satellite aluminum recycled slab center from Arizona to Mississippi. Nucor guided for Q2 earnings of $4.50 to $4.60 per share, above the $4.21 consensus and sharply higher than Q1 EPS of $3.23 and the year-ago Q2 EPS of $2.60, with the largest increase expected in its steel mills segment due to higher average selling prices, stable volumes, and roughly $130 million of cash refunds from prior-period raw materials procurement costs.