Nucor Corporation Reports 21% Revenue Growth to $9.496 Billion in Q1 2026

Nucor Corporation reported significant financial growth in its first quarter of 2026, with net sales reaching $9.496 billion, a 21% increase from $7.830 billion in the same period of 2025. The company's net earnings attributable to stockholders surged to $743 million, or $3.23 per diluted share, compared to $156 million, or $0.67 per diluted share, in the prior year. This increase in profitability was primarily driven by heightened earnings in the steel mills segment, which benefited from record quarterly shipments and improved average selling prices.

The steel mills segment alone generated $6.036 billion in sales, marking a 23% increase from $4.907 billion in the first quarter of 2025. This growth was attributed to a 14% rise in the average sales price per ton, alongside an 8% increase in tons sold to external customers. The steel products segment also saw a 16% increase in sales, totaling $2.786 billion, while the raw materials segment experienced a 30% rise, reaching $674 million. The overall increase in sales was supported by strong demand in key markets and a reduction in the share of imports in the U.S. finished steel market, which fell from over 22% to approximately 15%.

Operationally, Nucor's average utilization rates across its segments improved, with steel mills at approximately 86%, steel products at 60%, and raw materials at 76%. The company reported a gross margin of $1.50 billion, or 16% of net sales, compared to $605 million, or 8%, in the first quarter of 2025. This improvement was largely due to increased metal margins, which reflect the difference between selling prices and the cost of scrap and scrap substitutes. The average cost of scrap and substitutes rose slightly to $403 per gross ton, but this was offset by higher selling prices.

In terms of strategic developments, Nucor's Board of Directors approved a new share repurchase program, allowing for the repurchase of up to $4 billion of common stock. As of April 4, 2026, approximately $3.97 billion remained available under this program. The company also reported cash and cash equivalents of $2.226 billion, down slightly from $2.260 billion at the end of 2025, while cash provided by operating activities increased to $886 million from $364 million year-over-year.

Looking ahead, Nucor anticipates continued growth in the second quarter of 2026, with expected improvements in earnings across all operating segments. The company expects higher realized selling prices and stable volumes in the steel mills segment, along with increased earnings in the raw materials segment due to higher pricing. Nucor's strong liquidity position and credit ratings further support its outlook for sustained operational and financial performance.