Nucor Earnings Call Transcripts
Fiscal Year 2026
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The meeting covered director elections, auditor ratification, and executive compensation, all of which passed. Leadership reaffirmed a commitment to strong dividends and shareholder returns, with future increases under consideration as growth projects conclude.
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Q1 2026 saw record shipments, strong earnings, and robust backlogs, with all segments outperforming and guidance raised for higher earnings in Q2. Major capital projects are progressing, and demand remains strong across key markets, supporting optimism for 2026.
Fiscal Year 2025
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Delivered strong safety and operational results in 2025, with adjusted Q4 EPS of $1.73 and full-year EBITDA of $4.2B. 2026 outlook is positive, with lower CapEx, higher free cash flow, and robust demand driving shipment growth and improved earnings.
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Q3 results exceeded guidance with $1.3B EBITDA and $2.63 EPS, driven by strong steel mill shipments and favorable adjustments. Capital investments and market share gains in data centers and infrastructure support a positive long-term outlook, despite near-term seasonal headwinds.
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Q2 2025 saw strong earnings growth, record safety, and robust demand across steel segments. Margin compression is expected in Q3 due to lagged pricing and tariffs, but demand and backlogs remain healthy, with major capital projects ramping up and free cash flow set to improve in H2.
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The meeting covered board elections, auditor ratification, executive compensation, and incentive plan approval, with all proposals passing. Leadership emphasized disciplined capital allocation and shareholder value. No questions were submitted by stockholders.
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Q1 2025 saw adjusted EPS of $0.77 and strong capital investment, with backlogs and order books at record levels. Earnings are expected to rise in Q2, supported by robust demand, ongoing project ramp-ups, and favorable trade policy changes.
Fiscal Year 2024
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Reported strong 2024 results with $2B net earnings, robust cash flow, and record safety. Major growth projects are on track, with $3B CapEx planned for 2025 and continued shareholder returns. Outlook for 2025 is optimistic amid stable demand and supportive trade policies.
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Q3 saw lower earnings due to margin pressure from imports and softer demand, but strong cash flow enabled continued investment and shareholder returns. Major growth projects are on track, and the company remains optimistic about long-term demand from infrastructure and manufacturing.
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Q2 earnings declined 23% sequentially due to lower steel prices, but strong cash flow enabled over $1.7B in shareholder returns year-to-date. Major capital projects and acquisitions are progressing, with stable demand expected in key segments despite margin pressure from imports and interest rates.