Nucor Corporation Reports 23% Revenue Growth to $10.4 Billion in Q2 2026

Nucor Corporation reported significant financial growth in its latest 10-Q filing for the second quarter and first half of 2026, with net sales reaching $10.4 billion for the quarter, a 23% increase from $8.5 billion in the same period last year. For the first six months, net sales totaled $19.9 billion, up 22% from $16.3 billion in 2025. The company’s net earnings attributable to stockholders also saw a substantial rise, with $1.16 billion, or $5.04 per diluted share, reported for the second quarter, compared to $603 million, or $2.60 per diluted share, in the prior year. Year-to-date earnings reached $1.90 billion, or $8.27 per diluted share, up from $759 million, or $3.26 per diluted share, in the first half of 2025.

The increase in revenue and profitability was primarily driven by the steel mills segment, which benefited from higher average selling prices and increased volumes. The average sales price per ton rose by 10% to $1,367 in the second quarter of 2026, while total tons shipped increased by 12% to approximately 7.6 million tons. The steel products segment also contributed to the growth, with a 17% increase in net sales, although it faced margin compression due to rising input costs. The raw materials segment experienced a notable 49% increase in sales, largely attributed to higher average selling prices and improved shipment volumes.

Operationally, Nucor's average utilization rates across its facilities improved, with steel mills operating at approximately 88% capacity, up from 82% in the previous year. The company reported a total employee headcount of 28,000, reflecting its ongoing commitment to workforce stability amid growth. Nucor's strategic initiatives included a new share repurchase program authorized for up to $4 billion, which underscores its confidence in future performance and shareholder returns.

Looking ahead, Nucor anticipates continued growth in the third quarter of 2026, expecting higher earnings driven by increased pricing across major product categories and stable volumes in the steel mills segment. However, the raw materials segment is projected to see decreased earnings due to lower margins. The company maintains a strong liquidity position, with cash and cash equivalents totaling $2.69 billion, and is well-positioned to meet its capital expenditure and working capital needs for the foreseeable future.