Nucor Steel Q2 2026 Adjusted Net Income Hits $1.11B

Nucor Steel recently released its financial results for the second quarter of 2026. In this quarter, Nucor Steel's consolidated net income attributable to shareholders was approximately $1.16 billion. Excluding a non-cash pre-tax gain of $61 million (equivalent to $0.20 per diluted share), adjusted net income attributable to shareholders was approximately $1.11 billion, or approximately $4.84 per diluted share.

In comparison, Nucor Steel reported consolidated net income attributable to shareholders of approximately $743 million for the first quarter of 2026, or approximately $3.23 per diluted share; and approximately $603 million for the second quarter of 2025, or approximately $2.60 per diluted share.

According to its latest disclosed pre-tax and pre-non-controlling interest earnings data, the company's total revenue in the second quarter was $1.625 billion, a significant increase of 80.8% compared to $899 million in the same period last year, representing an increase of $726 million. Total revenue for the first half of 2026 was $2.721 billion, an increase of 129.8% compared to $1.184 billion in the same period last year, representing an increase of $1.537 billion.

The company stated that its overall performance in the first half of the year showed strong growth, mainly due to significant improvements in its core businesses.

By segment, in the second quarter, the company's steel production segment achieved quarterly revenue of $1.556 billion, a year-on-year increase of 84.6%; half-year revenue was $2.684 billion, a year-on-year increase of 149.9%, making it the biggest driver of its performance growth. In the raw materials segment, the company's second-quarter revenue was $146 million, a year-on-year increase of 156.1%; half-year revenue was $191 million, a year-on-year increase of 122.1%, also showing strong performance. In contrast, its steel products segment faced some pressure in the second quarter, with quarterly revenue of $353 million, a 10.0% year-over-year decrease; and half-year revenue of $629 million, a 7.5% year-over-year decrease.

Furthermore, the company's offsetting losses widened year-over-year, with a quarterly loss of $430 million and a half-year loss of $783 million. However, this did not significantly impact the strong growth of its core business, and overall profitability still achieved a substantial leap.