Nucor Reports $1.32 Billion Quarterly Profit as Steel Revenue Rises 32%
The US steelmaker more than doubled third-quarter profit from a year earlier, with stronger prices and shipments lifting its mills business; it expects similar or slightly higher earnings next quarter.
US steel producer Nucor reported third-quarter net earnings of $1.32 billion on October 26, 2026, more than double the $607 million recorded a year earlier, as stronger steel prices and shipment volumes boosted its core operations.
Revenue reached $11.25 billion for the quarter ended October 3, compared with $8.52 billion in the corresponding 2025 period, an increase of approximately 32%. Diluted earnings per share climbed to $5.80 from $2.63. Those figures reflect completed quarterly results, not management forecasts.
The steel mills division was the main driver. Its earnings before income taxes and noncontrolling interests rose to approximately $1.79 billion from $793 million a year earlier. Higher realized selling prices and shipments supported performance, although higher production costs offset part of the benefit. The steel products business also benefited from pricing and volumes, while the raw materials unit recorded lower earnings than in the preceding quarter.
Nucor said it generated approximately $2.7 billion of free cash flow during the first nine months of 2026. Free cash flow is a non-GAAP measure that deducts capital expenditures from operating cash flow; it should not be confused with net profit. The company returned approximately $629 million to shareholders through repurchases and dividends in the third quarter.
The steelmaker expects fourth-quarter earnings to be broadly in line with or modestly above its third-quarter result. It anticipates relatively stable contributions from steel mills and steel products, with a slight decline in raw materials earnings. These are forward-looking expectations subject to demand, prices and operating costs.
The results provide a fresh indicator of conditions in the US steel industry, where selling prices and manufacturing demand affect producers differently depending on their product mix and contracts. Nucor's disclosure was issued after the US stock-market close on Monday, October 26; it was not established as a new announcement within the preceding hour.
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