Computed from published fixed rules, not a model's judgement — though one input, the count of high-severity risks, comes from the AI analysis below.
Not investment advice and not a price target: it scores the quarter's fundamentals, not the stock. Full methodology →
AI Takeaway
Nucor's second quarter of fiscal 2026 delivered sharply higher earnings, powered by the steel mills segment where rising selling prices and volumes expanded metal margins, aided by a $130 million cash refund from prior-period raw material costs. The steel products segment saw margin compression from higher input costs, while the raw materials segment improved on higher shipments and DRI profitability. Management expects continued earnings growth in the third quarter, though raw materials margins are forecast to soften. The company's liquidity remains robust, with free cash flow turning positive as capital spending declined.
Revenue
$10.4B
+22.95% YoY
EPS (Diluted)
$5.04
+93.85% YoY
Source: SEC XBRL
Nucor (NUE) reported Q2 FY2026 revenue of $10.4B, up 23.0% year over year. NUE's fiscal Q2 FY2026 corresponds to calendar Q3 2026.
Last 4 quarters: 3 beats
| Quarter | Actual EPS (USD) | Consensus (USD) | Result |
|---|---|---|---|
| Jun 2026 | 4.84 | 4.42 | Beat +9.4% |
| Mar 2026 | 3.23 | 2.84 | Beat +13.5% |
| Dec 2025 | 1.73 | 1.93 | Miss -10.3% |
| Sep 2025 | 2.63 | 2.21 | Beat +19.1% |
3 reported segments · SEC XBRL
Segment revenue totals $10.4B, which is the $10.4B of consolidated revenue on the income statement.
Compiled by AI from 10-Q Item 2 of this filing
Steel mills segment earnings before taxes more than doubled to $1.56 billion, driven by a 10% increase in average selling price, 12% higher outside shipments, and a $130 million cash refund from prior-period raw material procurement costs.
Source: 10-Q Item 2 MD&A
Steel products segment earnings declined despite 13% higher volumes and 4% higher prices, as increased steel input costs caused margin compression.
Source: 10-Q Item 2 MD&A
Pre-operating and start-up costs decreased to $120 million from $136 million in the prior year, primarily for the West Virginia sheet mill and Indiana coating complex.
Source: 10-Q Item 2 MD&A
Management expects higher earnings in Q3, with steel mills benefiting from higher realized pricing, steel products from higher volumes and pricing, but raw materials margins expected to decline.
Source: 10-Q Item 2 MD&A
Compiled by AI from this SEC filing · 1 high, 3 medium, 1 low
Nucor's earnings are highly sensitive to market steel prices and demand cycles, particularly in nonresidential construction. The 92% year-over-year swing in net income demonstrates this volatility, and a downturn could significantly reduce revenues and margins.
Source: 10-Q Income Statement (XBRL)
Scrap and scrap substitutes are the largest cost input. The 5% increase in average scrap cost per ton in Q2 2026 highlights the exposure; future spikes could erode margins if not passed through to customers.
Source: 10-Q Income Statement (XBRL)
Current federal trade policies, including Section 232 tariffs, have reduced unfairly traded imports, benefiting domestic steel prices. Reversal or weakening of these policies could increase import competition and pressure pricing and sales.
Source: 10-Q Income Statement (XBRL)
Nucor is investing $2.50 billion in capex in 2026 on major projects such as the West Virginia sheet mill and NTS expansion. Delays, cost overruns, or failure to achieve expected returns could impair financial performance.
Source: 10-Q Cash Flow Statement (XBRL)
Approximately $843 million of the $2.48 billion in cash and equivalents is held by majority-owned joint ventures, which may not be readily available for corporate use, potentially limiting financial flexibility in a downturn.
Source: 10-Q Balance Sheet (XBRL)
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue $B | 10.40 $B | 8.46 $B | +22.95% |
Cost of Revenue $B | 8.36 $B | 7.23 $B | +15.62% |
Net Income $B | 1.16 $B | 0.60 $B | +91.71% |
EPS (Basic) $ | 5.05 $ | 2.60 $ | +94.23% |
EPS (Diluted) $ | 5.04 $ | 2.60 $ | +93.85% |
SG&A Expense $M | 405.00 $M | 304.00 $M | +33.22% |
Answers draw on this SEC filing and the data on this page
Nucor Corporation delivered a strong Q2 2026 with revenue surging 21.3% YoY to $9.50B and net income jumping 376.3% to $743M, driven by significantly improved profitability and operating cash flow generation.
Nucor Corporation (NUE) reported FY2025 revenue of $32.5B (+5.7% YoY), but net income fell 14.0% to $1.74B as rising costs compressed margins and cash balances declined sharply.
Other companies in Steel