Nucor(US:NUE)2025-10-27 20:53Financial Performance - Consolidated net earnings attributable to Nucor stockholders for Q3 2025 were $607 million, or $2.63 per diluted share, compared to $603 million, or $2.60 per diluted share in Q2 2025, and $250 million, or $1.05 per diluted share in Q3 2024[2][7]. - Net sales for Q3 2025 reached $8.52 billion, an increase from $8.46 billion in Q2 2025 and $7.44 billion in Q3 2024[7][25]. - Earnings before income taxes and noncontrolling interests for the steel mills segment were $793 million in Q3 2025, down from $843 million in Q2 2025, while the steel products segment earned $319 million, down from $392 million[4][5]. - EBITDA for Q3 2025 was reported at $1.27 billion, reflecting the company's operational performance[7][25]. - Net earnings before noncontrolling interests for the three months ended October 4, 2025, were $683 million, a decrease from $706 million in the previous quarter[40]. - EBITDA for the three months ended October 4, 2025, was $1,265 million, compared to $1,295 million in the previous quarter[40]. - For the nine months ended October 4, 2025, net earnings before noncontrolling interests totaled $1,615 million, compared to $1,974 million for the same period last year[40]. - Total EBITDA for the nine months ended October 4, 2025, was $3,256 million, down from $3,614 million in the previous year[40]. Shareholder Returns - Nucor returned nearly $1 billion to shareholders year-to-date, representing over 70% of net earnings through Q3 2025[3]. - Nucor repurchased approximately 0.7 million shares at an average price of $140.46 per share during Q3 2025, with $506 million remaining authorized for future repurchases[10]. - A cash dividend of $0.55 per share was declared on September 4, 2025, marking Nucor's 210th consecutive quarterly cash dividend[11]. Financial Position - The company had $2.75 billion in cash and cash equivalents at the end of Q3 2025, with a $2.25 billion undrawn revolving credit facility[9]. - Total assets increased to $34,776 million as of October 4, 2025, up from $33,940 million at the end of 2024, representing a growth of 2.5%[28]. - Total liabilities increased to $12,845 million as of October 4, 2025, from $12,523 million at the end of 2024, marking a rise of 2.6%[28]. - Retained earnings rose to $31,255 million as of October 4, 2025, up from $30,271 million at the end of 2024, an increase of 3.3%[28]. - Total equity increased to $21,931 million as of October 4, 2025, compared to $21,417 million at the end of 2024, reflecting a growth of 2.4%[28]. Market Outlook - The outlook for Q4 2025 indicates expected lower earnings compared to Q3 2025, primarily due to lower volumes and average selling prices in the steel mills segment[12]. Operational Metrics - Steel mills total shipments for the third quarter of 2025 were 6,428 thousand tons, a slight decrease of 1% from 6,474 thousand tons in the previous quarter but a 12% increase from 5,719 thousand tons year-over-year[37]. - The external average sales price per ton was $1,258, reflecting a 1% increase from $1,240 in the previous quarter but a 4% decrease from $1,265 year-over-year[34]. - Cash provided by operating activities for the nine months ended October 4, 2025, was $2,435 million, down from $3,246 million in the same period last year, a decrease of 25%[31]. - Capital expenditures for the nine months ended October 4, 2025, totaled $2,620 million, compared to $2,294 million in the same period last year, an increase of 14%[31]. Cost and Expenses - The average scrap/scrap substitute cost per gross ton was $391, a 3% decrease from $403 in the previous quarter and a 1% decrease from $399 year-over-year[34]. - Provision for income taxes for the three months ended October 4, 2025, was $200 million, up from $193 million in the previous quarter[40]. - Depreciation for the three months ended October 4, 2025, was $304 million, slightly higher than $303 million in the previous quarter[40]. - Losses and impairments of assets were recorded at $0 for the three months ended October 4, 2025, compared to $11 million in the previous quarter[40]. - Interest expense (income), net, was $15 million for the three months ended October 4, 2025, down from $19 million in the previous quarter[40]. - Amortization for the nine months ended October 4, 2025, was $191 million, slightly higher than $189 million in the previous year[40]. - The company reported losses and impairments of assets totaling $40 million for the nine months ended October 4, 2025, compared to $137 million in the previous year[40]. Credit Ratings - Nucor's long-term credit ratings were upgraded to A3 by Moody's in September 2025, indicating strong financial health[9].