Nucor Corporation reported consolidated net earnings attributable to stockholders of $1.32 billion for the third quarter of 2026, or $5.80 per diluted share. The Charlotte, North Carolina-based steelmaker generated net sales of $11.25 billion and EBITDA of $2.28 billion for the period ended October 3, 2026.
The results represent a significant increase from the third quarter of 2025, when the company reported net earnings of $607 million, or $2.63 per diluted share. Compared to the second quarter of 2026, earnings rose from $1.16 billion, or $5.04 per diluted share, to $1.32 billion in the current quarter. Second quarter results had included a non-cash, pre-tax benefit of $61 million related to the valuation of Nucor's investment in fusion energy company Helion, which did not recur in the third quarter.
Segment performance drove the quarterly increase, with earnings rising in both steel mills and steel products. Nucor attributed the growth in the steel mills segment to higher average selling prices and increased volumes, partially offset by higher costs of products sold. The steel products segment also saw an increase in earnings driven by higher volumes and realized pricing. Conversely, the raw materials segment experienced a decline in earnings due to lower pricing and shipments.
Leon Topalian, Chair and Chief Executive Officer of Nucor, cited robust demand across key end markets for the company's performance. He noted that Nucor generated approximately $2.7 billion in free cash flow and returned nearly $1.4 billion to shareholders through the first nine months of 2026. Topalian also highlighted operational milestones, including the first heat at the West Virginia sheet mill in September and the start-up of a second galvanizing line at Nucor Steel Berkeley.
Nucor returned approximately $629 million to stockholders in the third quarter through share repurchases and dividend payments. The company repurchased approximately 2.03 million shares at an average price of $247.04 per share during the period. On September 18, 2026, the Board of Directors declared a cash dividend of $0.56 per share, payable on November 10, 2026. This marks Nucor's 214th consecutive quarterly cash dividend.
At the end of the third quarter, Nucor held $3.64 billion in cash and cash equivalents and short-term investments. The company's $2.25 billion revolving credit facility remains undrawn and does not expire until March 2030. Nucor maintains A- credit ratings from Standard & Poor's and Fitch Ratings, and an A3 rating from Moody's, all with stable outlooks.
Looking ahead to the fourth quarter of 2026, Nucor expects earnings to be generally in-line with or modestly higher than the third quarter. The company anticipates stable earnings in the steel mills segment as higher realized pricing offsets seasonally lower volumes and higher costs. Earnings in the steel products segment are also expected to remain stable on higher realized pricing and lower volumes, while the raw materials segment is projected to see slightly lower earnings due to lower direct reduced iron pricing.