Nucor Corporation announced consolidated net earnings of $607 million for the third quarter of 2025, compared to consolidated net earnings of $603 million for the second quarter of 2025 and $250 million for the third quarter of 2024.
Nucor’s consolidated net sales increased 1 percent to $8.52 million in the third quarter of 2025 compared to $8.456 million in the second quarter of 2025 and increased 14 percent compared with $7.44 million in the third quarter of 2024.
The company said average sales price per ton in the third quarter of 2025 increased 1 percent compared to the second quarter of 2025 and increased 5 percent compared to the third quarter of 2024.
A total of approximately 6,196,000 tons were shipped to outside customers in the third quarter of 2025 compared to a 1 percent decrease in the second quarter of 2025 and a 9 percent increase compared to the third quarter of 2024, according to Nucor. Total steel mill shipments in the third quarter of 2025 were comparable to the second quarter of 2025 and increased 12 percent as compared to the third quarter of 2024.
Steel mill shipments to internal customers represented 23 percent of total steel mill shipments in the third quarter of 2025 compared to 22 percent in the second quarter of 2025 and 19 percent in the third quarter of 2024, Nucor said.
For an overall outlook, the increase in earnings in the fourth quarter of 2025 to be lower than the third quarter of 2025. In the steel mills segment, the expected decrease is primarily due to lower overall volumes, along with lower average selling prices in the sheet mills. In the steel products segment, the expected decrease is mainly due to lower volumes. In the raw materials segment, the expected decrease is due to lower realized pricing as well as planned outages at our direct reduced iron facilities.
"We continue to execute on Nucor's strategy of growing our core steelmaking capabilities, while expanding into downstream, steel-adjacent businesses," said Leon Topalian, Nucor's Chair, President and Chief Executive Officer. "During the third quarter, we began ramping up production at two recently completed bar mill projects, advanced our sheet steel production and coating projects, and commenced pole production at our Alabama Towers & Structures facility. Throughout a period of capital investment, Nucor continues to have the strongest balance sheet of any major steel producer in North America and has returned nearly $1 billion to shareholders year-to-date, representing more than 70 percent of net earnings through the third quarter."