Key Highlights

  • The 214th consecutive regular quarterly Cash Dividend of $0.56 is payable November 10 to holders of record September 30.
  • Second-quarter net sales were $10.40 billion, up from $8.46 billion, and net Earnings attributable to stockholders were $1.16 billion.
  • GAAP diluted EPS was $5.04 and adjusted diluted EPS was $4.84, which excludes a $0.20 per share non-cash Helion benefit.
  • Third-quarter earnings guidance was issued at $5.55-$5.65 per diluted share, compared with $2.63 in the third quarter of 2025.

Overview

Nucor Corporation (NYSE:NUE) declared its 214th consecutive regular quarterly cash dividend of $0.56 per share, payable November 10, 2026 to holders of record on September 30. The dividend yields 0.91%. Second-quarter GAAP diluted EPS was $5.04 and adjusted diluted EPS, a non-GAAP measure, was $4.84, and the company issued third-quarter guidance of $5.55-$5.65 per diluted share.

Dividend Program and Shareholder Returns

The board declared the regular quarterly cash dividend of $0.56 per share on Nucor's common stock, the 214th consecutive quarterly cash dividend. It is payable November 10, 2026, to shareholders of record on September 30, and it trades ex-dividend on September 30.

Dividends paid in the first six months of 2026 were $258 million. Second-quarter share repurchases were $475 million, covering 1.53 million shares at $228.76 per share, and total Capital returned in the six months was $733 million. The September guidance release stated year-to-date returns of $1.36 billion through repurchases and dividends. Each dividend remains subject to board approval.

About the Company

Nucor Corporation is a steel and steel products manufacturer with operations in the United States, Canada and Mexico. It reports three segments: steel mills, steel products and raw materials. Through its metals brokerage and ferro-alloy operations, the company also describes itself as North America's largest recycler. It reports GAAP and adjusted earnings.

Second-Quarter Sales, Earnings and Segment Results

Net sales were $10.40 billion, compared with $9.50 billion in the first quarter and $8.46 billion in the second quarter of 2025. Net earnings attributable to stockholders were $1.16 billion, compared with $743 million and $603 million.

GAAP diluted EPS was $5.04, compared with $3.23 in the first quarter and $2.60 a year earlier. Adjusted diluted EPS was $4.84, excluding a $0.20 per share benefit from a non-cash valuation gain on its Helion investment. EBITDA was $2.02 billion, compared with $1.51 billion in the first quarter.

Segment earnings were $1,556 million in steel mills, $353 million in steel products and $146 million in raw materials. The comparable second-quarter 2025 figures were $843 million, $392 million and $57 million.

Steel Mill Shipments, Cash Refunds and Third-Quarter Guidance

The chief executive said Investment across key sectors of the United States economy, combined with supportive federal trade policies, drove a second consecutive quarterly record for steel mill shipments. Shipments were 7.1 million tons, compared with 7.0 million in the first quarter, and utilization was 91%, compared with 86%.

The external average sales price per ton was $1,145, up 7% from $1,074, while scrap and substitute cost per ton was $422, compared with $404. The second quarter included a $130 million reduction to cost of products sold from cash refunds related to prior raw materials procurement costs and a $61 million pre-tax non-cash Helion benefit.

For the third quarter, the company guided to higher steel mill earnings on higher average selling prices and stable volumes, partly offset by higher costs, and higher steel products earnings on volumes and pricing. It guided to lower raw materials earnings on reduced pricing and shipments. Six-month Operating Cash Flow was $2.29 billion, capital expenditures were $1.23 billion and total Debt was $7.10 billion.

Outlook

Steel mill realized pricing and shipments, raw materials earnings, third-quarter EPS relative to the $5.55-$5.65 guidance range, share repurchases, and the board's quarterly declarations are the relevant considerations.