NUCOR CORP Earnings Summary — Q1 2026

• Net income to common shareholders skyrocketed by over 376% year-over-year to $870 million in Q1 2026.
• Quarterly revenue reached $9.496 billion, marking a significant recovery and 21.28% growth compared to the prior year.
• Operating income nearly doubled sequentially, rising from $501 million in Q4 2025 to $1.108 billion in Q1 2026.
• Cost management remains effective even with volume increases, as cost of revenue grew slower than top-line revenue on a sequential basis.
• Shareholder dilution protection continues via an aggressive buyback program, with shares outstanding decreasing 1.55% year-over-year.
• Nucor continues to benefit from its low-cost mini-mill model, which provides resilience against the inherent cyclicality of the basic materials sector.

Nucor's management continues to focus on disciplined expansion and vertical integration, leveraging its flexible variable cost structure to manage steel cycle volatility. Emphasis remains on 'green steel' technology and maintaining its status as a low-cost producer through EAF technology.

Improving

After several quarters of year-over-year contraction in late 2024 and early 2025, Nucor has entered a strong recovery phase with double-digit revenue growth and triple-digit profit growth.

The outlook is positive as Nucor ramps up new production facilities and benefits from healthy asset turnover. While sensitive to scrap steel prices and construction demand, the company's robust cash generation and diversified product mix provide a significant cushion for continued growth through 2026.