Q1 26 EPS
$3.23
Q1 26 Revenue
$9.50B
BEAT +7.14%
Est. $8.86B
vs S&P Since Q1 26
+4.0%
BEATING MARKET
NUE +5.3% vs S&P +1.3%
Market Reaction
Did NUE Beat Earnings? Q1 2026 Results
Nucor Corp delivered a standout first quarter of 2026, posting earnings per diluted share of $3.23 and beating the Wall Street consensus of $2.82 by 14.67%, while revenue of $9.50 billion topped estimates by 7.14% and climbed 21.3% year-over-year. Th… Read more Nucor Corp delivered a standout first quarter of 2026, posting earnings per diluted share of $3.23 and beating the Wall Street consensus of $2.82 by 14.67%, while revenue of $9.50 billion topped estimates by 7.14% and climbed 21.3% year-over-year. The primary engine behind the quarter was a record-breaking performance in the steel mills segment, which shipped 7.0 million tons at an average selling price of $1,074 per ton, lifting segment pre-tax earnings to $1.13 billion and pushing EBITDA for the consolidated business to $1.51 billion, more than double the year-ago figure. Favorable trade policy, including Section 232 tariffs and active enforcement of trade cases, helped push finished steel imports to roughly 15% of market share, amplifying the pricing and volume gains. The strong momentum has carried into the outlook, with management guiding for higher consolidated earnings in Q2 across all three operating segments, supported by record rebar and structural backlogs and demand from data centers, energy infrastructure, and related construction activity.
Key Takeaways
- • Record quarterly steel mill shipments of 7.0 million tons
- • Higher average selling prices across all product groups
- • Steel mill utilization rose to 86%, up 400 bps sequentially
- • Strong demand across key end markets including data centers, energy, and infrastructure
- • Federal trade policies reducing unfairly traded steel imports — finished import share fell to ~15%
- • Growing contributions from recent capital investments
- • All three operating segments reported sequential earnings growth
NUE Forward Guidance & Outlook
Nucor expects higher consolidated earnings in Q2 2026 compared to Q1, with improved earnings across all three operating segments. Steel mills are expected to benefit from higher realized selling prices with stable volumes. Steel products should see improved earnings from higher volumes on stable pricing. The raw materials segment is expected to have increased earnings due to higher realized pricing. Corporate expenses and intersegment profit eliminations are expected to be higher. The company noted strong backlog momentum across the business, with rebar and structural backlogs at record highs and joist and deck backlogs extending through the summer at pricing above current realized levels. Lean service-center inventories, continued trade enforcement (including rebar trade case, CORE trade case, Section 232, and pending OCTG trade case), and demand from data centers, energy infrastructure, and border fence construction are cited as key catalysts.
NUE YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
“Nucor teammates delivered a strong start to 2026, with our steel mills segment achieving a new quarterly shipment record. All three of our operating segments reported sequential earnings growth, driven by strong demand across key end markets, growing contributions from recent capital investments, and federal trade policies that continue to reduce the flood of unfairly traded imports into the United States. We enter the second quarter with real momentum, committed to executing our growth strategy, generating strong returns for our shareholders, and continuing our pursuit of becoming the safest steel company in the world.”
— Leon Topalian, Q1 2026 Earnings Press Release
NUE Earnings Trends
NUE vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
NUE EPS Trend
Earnings per share: estimate vs actual
NUE Revenue Trend
Quarterly revenue: estimate vs actual
NUE Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | $3.23 | — | $9.50B | +7.14% |
| Q4 25 MISS FY | $2.14 | $1.73 | -19.16% | $7.69B | -1.43% |
| FY Full Year | $7.73 | $7.71 | -0.29% | $32.49B | -0.34% |
| Q3 25 BEAT | $2.16 | $2.63 | +22.01% | $8.52B | +4.49% |
| Q2 25 MISS | $2.70 | $2.60 | -3.70% | $8.46B | -0.27% |
| Q1 25 BEAT | $0.61 | $0.77 | +26.71% | $7.83B | +7.39% |