Nucor stock gains as Q3 earnings surge and Q4 outlook holds

Nucor reported a sharp improvement in third-quarter earnings on October 26, 2026, as higher steel prices and volumes lifted results. The company also kept its fourth-quarter outlook broadly steady, according to the AD HOC NEWS report.

Nucor stock traded at 231.40 euros on Lang & Schwarz at 16:12 CET on Tuesday, November 10, 2026, 3.58 percent above the Xetra close of Monday, November 9. Compared with the 224.25-euro quote in the previous report published on November 9, the stock was 3.19 percent higher.

Third-quarter earnings accelerate

Net earnings attributable to Nucor stockholders reached 1.32 billion US dollars, up from 607 million US dollars a year earlier. Revenue increased to 11.25 billion US dollars from 8.52 billion US dollars, while diluted earnings per share rose to 5.80 US dollars from 2.63 US dollars.

Steel mill earnings before income taxes and noncontrolling interests climbed to 1.79 billion US dollars from 793 million US dollars. Nucor attributed the improvement to higher average selling prices and volumes, partly offset by higher costs. Steel products earnings rose to 465 million US dollars from 319 million US dollars.

Pricing supports fourth-quarter view

Management expects consolidated fourth-quarter earnings to be generally in line with or modestly higher than the third-quarter result. Higher realized prices are expected to offset seasonally lower volumes and higher costs in the steel mills business, while steel products earnings are expected to remain stable.

Raw-materials earnings are expected to decline slightly because of lower realized direct reduced iron pricing. The West Virginia sheet mill produced its first heat in September, and a second galvanizing line at Nucor Steel Berkeley recently started up. Pre-operating and start-up costs reached 124 million US dollars in the quarter.

The Nucor Q3 earnings call transcript says the company expects stable steel mill earnings as higher pricing offsets seasonal volume pressure. It also highlights record steel mill shipments and continued contributions from recent investments.

The S&P 500 provides the broader US equity-market context for Nucor stock.

More news and analyses on Nucor stock will track pricing, capacity utilization and the next quarterly update.