Nucor guides Q2 earnings to $4.80 as steel prices strengthen

Nucor Corp. guided second-quarter earnings to as much as $4.80 a share, topping the prior quarter by nearly 50 percent as steel prices strengthened.

"We expect earnings to increase across all three operating segments compared to the first quarter of 2026," the Charlotte, North Carolina-based company said in a statement.

The steel mills segment will drive the largest increase, benefiting from higher average selling prices and about $130 million in cash refunds tied to prior-period raw material procurement costs. Steel products and raw materials segments also are expected to post gains on higher volumes and realized pricing.

The guidance implies adjusted earnings of $4.50 to $4.60 per share, excluding a $0.20 non-cash benefit from the revaluation of Nucor's investment in fusion-energy company Helion. Shares have surged more than 115 percent over the past year, trading near $252.60, close to their 52-week high of $270.90.

Nucor reported net earnings of $3.23 per diluted share in the first quarter of 2026 and $2.60 per diluted share in the same period a year earlier. The company has repurchased about 1.12 million shares at an average price of $223.47 during the second quarter and returned approximately $630 million to stockholders through buybacks and dividends year-to-date. Nucor has maintained dividend payments for 54 consecutive years.

The guidance raise signals management expects sustained demand for steel products across end markets. Investors will watch the full Q2 earnings release after markets close on July 27, followed by a conference call on July 28.

This article is for informational purposes only and does not constitute investment advice.