Nucor reported strong third quarter results with net sales of $11.25 billion and diluted EPS of $5.80, both exceeding consensus expectations and company guidance. The performance was anchored by significant margin expansion in the Steel Mills segment and record shipments in Steel Products, while management expects fourth quarter earnings to remain stable or trend modestly higher.
Key Highlights
- Steel Mills segment earnings before taxes rose to $1.79 billion, a 15% sequential increase driven by higher average realized pricing and volume growth.
- The Steel Products segment delivered record results with shipments increasing 6% quarter-over-quarter to 1.36 million tons, led by robust demand in joist and deck markets.
- Free cash flow generation remained robust at $1.61 billion for the quarter, facilitating $629 million in total shareholder returns via repurchases and dividends.