Nucor Q2 revenue rises on steel mills segment growth

Overview

• U.S. steelmaker's Q2 revenue rose and beat analyst expectations

• Adjusted EPS for Q2 increased and beat analyst expectations

• Company repurchased 1.53 mln shares and returned $479 mln to shareholders in Q2

Outlook

• Nucor expects higher consolidated reported earnings in Q3 2026

• Company sees increased earnings in steel mills and steel products segments on higher pricing and volumes

• Raw materials segment earnings expected to decrease due to lower margins

Result Drivers

• STEEL MILLS PERFORMANCE - Higher average selling prices and increased volumes drove earnings growth in the steel mills segment

• RAW MATERIALS REFUNDS - Steel mills segment earnings included a $130 mln reduction to cost of products sold from cash refunds on prior raw materials procurement costs

• STEEL PRODUCTS VOLUMES - Steel products segment earnings improved due to increased volumes and stable average realized pricing

• RAW MATERIALS SEGMENT - Raw materials segment earnings rose due to increased average selling prices and shipments

Company press release: ID:nPn3kYZFFa

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 15 "strong buy" or "buy", 4 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the iron steel peer group is "buy"

• Wall Street's median 12-month price target for Nucor Corp is $272.00, about 9.9% above its July 24 closing price of $247.56

• The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 13 three months ago

Reuters Recommended Reads

• July 27 - Element Solutions Q2 sales beat estimates on electronics segment strength

• July 27 - Simpson Manufacturing Q2 sales rise on growth in North America, Europe segments

• July 27 - Trump may need to allow Chinese minerals as US industry struggles to meet 2027 deadline

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)