US based Nucor Corporation has announced earnings guidance for its third quarter ending October 3, 2026, projecting higher earnings in the steel mills and steel products segments and lower earnings in the raw materials segment compared to the second quarter of 2026.
In the steel mills segment, the expected increase is driven by higher average selling prices and stable volumes, partially offset by higher costs of products sold. Second quarter steel mills earnings had benefited from $130 million in cash refunds associated with prior periods' raw material procurement costs, and the company does not expect a similar benefit in the third quarter.
In the steel products segment, Nucor expects higher earnings on increased volumes and higher average realized pricing. Raw materials segment earnings are expected to decline on lower pricing and shipments.
The company also expects higher corporate and eliminations expense in the third quarter, reflecting both the absence of the valuation adjustment on its investment in Helion, a fusion energy company, and intersegment profit eliminations in line with the prior quarter. Second quarter results had included a non-cash, pre-tax benefit of $61 million related to the increase in the valuation of that investment.
During the third quarter, Nucor has repurchased approximately 2.03 million shares at an average price of $247.04 per share. The company has returned approximately $1.36 billion to stockholders in the form of share repurchases and dividend payments year-to-date.
Nucor plans to release its third quarter results after markets close on Monday, October 26, 2026.
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