Nucor Reports Results for the Third Quarter of 2025

Core Insights - Nucor Corporation reported consolidated net earnings of $607 million, or $2.63 per diluted share, for Q3 2025, showing a slight increase from $603 million, or $2.60 per diluted share, in Q2 2025, and a significant rise from $250 million, or $1.05 per diluted share, in Q3 2024 [1][6][17] Financial Performance - Net sales for Q3 2025 reached $8.52 billion, compared to $8.46 billion in Q2 2025 and $7.44 billion in Q3 2024, indicating a 1% increase from the previous quarter and a 14% increase year-over-year [6][19] - Earnings before income taxes and noncontrolling interests for Q3 2025 were $683 million, with EBITDA reported at $1.27 billion [6][19] - The steel mills segment saw a decrease in earnings due to lower volumes and margin compression, while the steel products segment's earnings declined due to higher average costs per ton despite stable pricing [3][9] Strategic Developments - Nucor is focusing on expanding its core steelmaking capabilities and entering downstream, steel-adjacent businesses, including ramping up production at new bar mill projects and advancing sheet steel production [2][9] - The company has returned nearly $1 billion to shareholders year-to-date, representing over 70% of net earnings through Q3 2025 [2][7] Financial Strength - As of the end of Q3 2025, Nucor held $2.75 billion in cash and cash equivalents, with an undrawn $2.25 billion revolving credit facility [5][19] - Nucor maintains strong credit ratings in the North American steel sector, with recent upgrades from Moody's to A3 [5][19] Shareholder Returns - During Q3 2025, Nucor repurchased approximately 0.7 million shares at an average price of $140.46 per share, with a total of about 4.8 million shares repurchased in the first nine months of 2025 [7][19] - A cash dividend of $0.55 per share was declared, marking Nucor's 210th consecutive quarterly cash dividend [8][19] Future Outlook - Nucor anticipates lower earnings in Q4 2025 compared to Q3 2025, primarily due to expected decreases in volumes and average selling prices across its segments [9][19]