Q4 25 EPS
$1.73
MISS 19.16%
Est. $2.14
Q4 25 Revenue
$7.69B
MISS 1.43%
Est. $7.80B
vs S&P Since Q4 25
+27.8%
BEATING MARKET
NUE +31.4% vs S&P +3.6%
Full Year 2025 Results
FY 25 EPS
$7.71
MISS 0.29%
Est. $7.73
FY 25 Revenue
$32.49B
MISS 0.34%
Est. $32.61B
Market Reaction
Did NUE Beat Earnings? Q4 2025 Results
Nucor closed out the fourth quarter of 2025 with a notable earnings miss, posting adjusted EPS of $1.73 against a consensus estimate of $2.14, a shortfall of 19.16%, while revenue of $7.69 billion fell just short of the $7.80 billion analysts had exp… Read more Nucor closed out the fourth quarter of 2025 with a notable earnings miss, posting adjusted EPS of $1.73 against a consensus estimate of $2.14, a shortfall of 19.16%, while revenue of $7.69 billion fell just short of the $7.80 billion analysts had expected, though it still represented an 8.6% gain year-over-year. The primary culprit was broad-based sequential weakness across all three operating segments, with steel mill shipments dropping 8% from Q3 to 5,906 thousand tons amid margin compression in sheet products, compounded by two scheduled outages at direct reduced iron facilities and impairment charges tied to the closure or repurposing of certain steel products facilities. Despite the quarterly stumble, management struck an optimistic tone heading into 2026, pointing to backlogs roughly 40% higher year-over-year, steel import market share that has fallen sharply to around 14%, and robust demand from data centers, energy infrastructure, and manufacturing construction. With capital expenditures projected to decline by approximately $900 million to $2.50 billion in 2026, Nucor expects improved free cash flow as recently completed growth projects begin contributing in earnest.
Key Takeaways
- • Steel mills segment margin compression primarily in sheet with lower volumes
- • Steel products segment impacted by lower volumes and higher average costs per ton
- • Raw materials segment affected by two scheduled DRI facility outages partially offset by insurance recoveries
- • Full-year net sales up 6% year-over-year driven by higher shipment volumes
- • Steel mill utilization at 82% in Q4 2025 vs 85% in Q3 2025
- • External average sales price per ton of $1,242 in Q4 vs $1,258 in Q3
NUE YoY Financials
Q4 2025 vs Q4 2024, source: SEC Filings
“I want to thank our teammates for their tremendous work throughout 2025—delivering for our customers, advancing key growth projects, and making this Nucor's safest year. During the year, we brought several major projects online, including our new rebar micro-mill in Lexington, North Carolina, the Kingman, Arizona melt shop, our Alabama Towers and Structures facility, and our coating complex in Crawfordsville, Indiana. As these and other recently completed projects ramp up, they are beginning to deliver meaningful earnings contributions and we believe they will play an important role in strengthening our earnings power over time.”
— Leon Topalian, Q4 2025 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% |