NUCOR CORP (NUE) · Material Event (8-K) SEC Filing

EX-99.1 2 d468854dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 News Release Nucor Reports Results for the Second Quarter of 2026 Second Quarter of 2026 Highlights Net earnings attributable to Nucor stockholders of $1.16 billion, or $5.04 per diluted share Adjusted net earnings attributable to Nucor stockholders of $1.11 billion, or $4.84 per diluted share Net sales of $10.40 billion Net earnings before noncontrolling interests of $1.28 billion; EBITDA of $2.02 billion CHARLOTTE, N.C. July 27, 2026 - Nucor Corporation (NYSE: NUE) today announced consolidated net earnings attributable to Nucor stockholders of $1.16 billion, or $5.04 per diluted share, for the second quarter of 2026. Excluding a non-cash, pre-tax benefit of $61 million, or $0.20 per diluted share, Nucor s second quarter of 2026 adjusted net earnings attributable to Nucor stockholders was $1.11 billion, or $4.84 per diluted share. By comparison, Nucor reported consolidated net earnings attributable to Nucor stockholders of $743 million, or $3.23 per diluted share, for the first quarter of 2026 and $603 million, or $2.60 per diluted share, for the second quarter of 2025. Investment across key sectors of the U.S. economy, combined with supportive federal trade policies, drove a second consecutive quarterly record for Nucor steel mill shipments, said Leon Topalian, Nucor s Chair and Chief Executive Officer. We continue to execute our growth strategy through investments to expand our capabilities and strengthen our position as the market leader with the most diverse portfolio of steel and fabricated steel products in North America. I want to thank our more than 33,000 Nucor teammates for keeping us on pace for the safest year in Nucor s history and their unwavering commitment to our customers and shareholders. Earnings Before Income Taxes and Noncontrolling Interests by Segment (In millions) Three Months (13 Weeks) Ended Six Months (26 Weeks) Ended July 4, 2026 April 4, 2026 July 5, 2025 July 4, 2026 July 5, 2025 Steel mills $ 1,556 $ 1,128 $ 843 $ 2,684 $ 1,074 Steel products 353 276 392 629 680 Raw materials 146 45 57 191 86 Corporate/eliminations (430 ) (353 ) (393 ) (783 ) (656 ) $ 1,625 $ 1,096 $ 899 $ 2,721 $ 1,184 Analysis of Second Quarter of 2026 Results Compared to the First Quarter of 2026 The increase in second quarter earnings was driven primarily by the increase in earnings in the steel mills segment, which experienced higher average selling prices and higher volumes. Additionally, the steel mills segment earnings included a reduction to cost of products sold in the amount of $130 million related to cash refunds associated with prior periods raw materials procurement costs. The steel products segment had improved earnings due to increased volumes and stable average realized pricing. The raw materials segment had higher earnings in the second quarter primarily due to increased average selling prices and shipments. Included in the second quarter of 2026 marketing, administrative and other expenses is a non-cash, pre-tax benefit of $61 million, or $0.20 per diluted share. This non-cash, pre-tax benefit is related to the increase in the value of our investment in Helion, a fusion energy company, after it completed a capital financing round in the second quarter of 2026. Page 1 of 10 Nucor Executive Offices: 1915 Rexford Road, Charlotte, North Carolina 28211 Phone 704-366-7000 Fax 704-362-4208 www.nucor.com Nucor Reports Results for the Second Quarter of 2026 (Continued) Financial Strength At the end of the second quarter of 2026, Nucor had $2.69 billion in cash and cash equivalents and short-term investments on hand. The Company s $2.25 billion revolving credit facility remains undrawn and does not expire until March 2030. The Company continues to have the strongest credit ratings in the North American steel sector (A-/A-/A3) with stable outlooks at Standard & Poor s, Fitch Ratings and Moody s, respectively. Commitment to Returning Capital to Stockholders During the second quarter of 2026, Nucor repurchased approximately 1.53 million shares of its common stock at an average price of $228.76 per share. Nucor returned approximately $479 million to stockholders in the second quarter of 2026 in the form of share repurchases and dividend payments, and approximately $733 million in the first six months of 2026. On June 9, 2026, Nucor s Board of Directors declared a cash dividend of $0.56 per share. This cash dividend is payable on August 11, 2026, to stockholders of record as of June 30, 2026 and is Nucor s 213th consecutive quarterly cash dividend. Third Quarter of 2026 Outlook Compared to the Second Quarter of 2026 We expect higher consolidated reported earnings in the third quarter of 2026. In the steel mills segment we expect an increase in earnings due to higher realized pricing across all major product categories with stable volumes. In the steel products segment, we expect increased earnings due to both higher volumes and higher realized pricing. The raw materials segment is expected to have decreased earnings due to lower margins. Earnings Conference Call An earnings call is scheduled for July 28, 2026 at 10:00 a.m. Eastern Time to review Nucor s second quarter of 2026 financial results and provide a business update. The call can be accessed via webcast from the Investor Relations section of Nucor s website (nucor.com/investors). A presentation with supplemental information to accompany the call has been posted to Nucor s Investor Relations website. A playback of the webcast will be posted to the same site within one day of the live event. About Nucor Nucor and its affiliates are manufacturers of steel and steel products, with operating facilities in the United States, Canada and Mexico. Products produced include: carbon and alloy steel in bars, beams, sheet and plate; hollow structural section tubing; electrical conduit; steel racking; steel piling; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; precision castings; steel fasteners; metal building systems; insulated metal panels; overhead doors; steel grating; wire and wire mesh; and utility structures. Nucor, through The David J. Joseph Company and its affiliates, also brokers ferrous and nonferrous metals, pig iron and hot briquetted iron / direct reduced iron; supplies ferro-alloys; and processes ferrous and nonferrous scrap. Nucor is North America s largest recycler. Page 2 of 10 Nucor Executive Offices: 1915 Rexford Road, Charlotte, North Carolina 28211 Phone 704-366-7000 Fax 704-362-4208 www.nucor.com Nucor Reports Results for the Second Quarter of 2026 (Continued) Non-GAAP Financial Measures The Company uses certain non-GAAP (Generally Accepted Accounting Principles) financial measures in this news release, including EBITDA, adjusted net earnings attributable to Nucor stockholders and adjusted net earnings per diluted share. Generally, a non-GAAP financial measure is a numerical measure of a company s performance or financial position that either excludes or includes amounts that are not normally excluded or included in the most directly comparable financial measure calculated and presented in accordance with GAAP. We define EBITDA as net earnings before noncontrolling interests, adding back the following items: interest expense (income), net; provision for income taxes; losses and impairments of assets; depreciation; and amortization. For the second quarter of 2026, we define adjusted net earnings attributable to Nucor stockholders as net earnings attributable to Nucor stockholders subtracting certain non-cash benefits (in this case, the increase in the value of our investment in Helion), net of tax. We define adjusted net earnings per diluted share as net earnings per diluted share subtracting certain non-cash benefits (in this case, the per diluted share impact of the increase in the value of our investment in Helion), net of tax. Please note that other companies might define their non-GAAP financial measures differently than we do. Management presents the non-GAAP financial measures of EBITDA, adjusted net earnings attributable to Nucor stockholders and adjusted net earnings per diluted share in this news release because it considers them to be important supplemental measures of performance. Management believes that these non-GAAP financial measures provide additional insight for analysts and investors evaluating the Company s financial and operational performance by providing a consistent basis of comparison across periods. Forward-Looking Statements Certain statements contained in this news release are forward-looking statements that involve risks and uncertainties which we expect will or may occur in the future and may impact our business, financial condition and results of operations. The words anticipate, believe, expect, intend, project, may, will, should, could and similar expressions are intended to identify those forward-looking statements. These forward-looking statements reflect the Company s best judgment based on current information, and, although we base these statements on circumstances that we believe to be reasonable when made, there can be no assurance that future events will not affect the accuracy of such forward-looking information. As such, the forward-looking statements are not guarantees of future performance, and actual results may vary materially from the projected results and expectations discussed in this news release. Factors that might cause the Company s actual results to differ materially from those anticipated in forward-looking statements include, but are not limited to: (1) competitive pressure on sales and pricing, including pressure from imports and substitute materials; (2) U.S. and foreign trade policies affecting steel imports or exports; (3) the sensitivity of the results of our operations to general market conditions, and in particular, prevailing market steel prices and changes in the supply and cost of raw materials, including pig iron, iron ore and scrap steel; (4) the availability and cost of electricity and natural gas, which could negatively affect our cost of steel production or result in a delay or cancellation of existing or future drilling within our natural gas drilling programs; (5) critical equipment failures and business interruptions; (6) market demand for steel products, which, in the case of many of our products, is driven by the level of nonresidential construction activity in the United States; (7) impairment in the recorded value of inventory, equity investments, fixed assets, goodwill or other long-lived assets; (8) uncertainties and volatility surrounding the global economy, including excess world capacity for Page 3 of 10 Nucor Executive Offices: 1915 Rexford Road, Charlotte, North Carolina 28211 Phone 704-366-7000 Fax 704-362-4208 www.nucor.com Nucor Reports Results for the Second Quarter of 2026 (Continued) steel production, inflation and interest rate changes; (9) fluctuations in currency conversion rates; (10) significant changes in laws or government regulations affecting environmental compliance, including legislation and regulations that result in greater regulation of greenhouse gas emissions that could increase our energy costs, capital expenditures and operating costs or cause one or more of our permits to be revoked or make it more difficult to obtain permit modifications; (11) the cyclical nature of the steel industry; (12) capital investments and their impact on our performance; (13) our safety performance; (14) our ability to integrate businesses we acquire; and (15) the impact of any pandemic or public health situation. These and other factors are discussed in Nucor s regulatory filings with the United States Securities and Exchange Commission, including those in Item 1A. Risk Factors of Nucor s Annual Report on Form 10-K for the year ended December 31, 2025. The forward-looking statements contained in this news release speak only as of this date, and Nucor does not assume any obligation to update them, except as may be required by applicable law. Contact Information For Investor/Analyst Inquiries Chris Jacobi, [email protected], or Paul Donnelly, [email protected] For Media Inquiries Katherine Miller, [email protected] Page 4 of 10 Nucor Executive Offices: 1915 Rexford Road, Charlotte, North Carolina 28211 Phone 704-366-7000 Fax 704-362-4208 www.nucor.com Nucor Reports Results for the Second Quarter of 2026 (Continued) Consolidated Financial Statements Nucor Corporation Condensed Consolidated Statements of Earnings (Unaudited) (In millions, except per share amounts) Three Months (13 Weeks) Ended Six Months (26 Weeks) Ended July 4, 2026 April 4, 2026 July 5, 2025 July 4, 2026 July 5, 2025 Net sales $ 10,397 $ 9,496 $ 8,456 $ 19,893 $ 16,286 Costs, expenses and other: Cost of products sold 8,363 7,995 7,233 16,358 14,458 Marketing, administrative and other expenses 405 378 304 783 585 Equity in earnings of unconsolidated affiliates (8 ) (7 ) (10 ) (15 ) (14 ) Losses and impairments of assets 15 11 15 40 Interest expense (income), net 12 19 19 31 33 8,772 8,400 7,557 17,172 15,102 Earnings before income taxes and noncontrolling interests 1,625 1,096 899 2,721 1,184 Provision for income taxes 345 226 193 571 252 Net earnings before noncontrolling interests 1,280 870 706 2,150 932 Earnings attributable to noncontrolling interests 124 127 103 251 173 Net earnings attributable to Nucor stockholders $ 1,156 $ 743 $ 603 $ 1,899 $ 759 Net earnings per share: Basic $ 5.05 $ 3.23 $ 2.60 $ 8.28 $ 3.26 Diluted $ 5.04 $ 3.23 $ 2.60 $ 8.27 $ 3.26 Average shares outstanding: Basic 228.2 228.9 230.6 228.6 231.7 Diluted 228.5 229.3 230.8 228.9 231.9 Page 5 of 10 Nucor Executive Offices: 1915 Rexford Road, Charlotte, North Carolina 28211 Phone 704-366-7000 Fax 704-362-4208 www.nucor.com Nucor Reports Results for the Second Quarter of 2026 (Continued) Nucor Corporation Condensed Consolidated Balance Sheets (Unaudited) (In millions) July 4, 2026 Dec. 31, 2025 ASSETS Current assets: Cash and cash equivalents $ 2,478 $ 2,260 Short-term investments 214 439 Accounts receivable, net 4,045 3,105 Inventories, net 6,020 5,462 Other current assets 399 499 Total current assets 13,156 11,765 Property, plant and equipment, net 15,863 15,306 Goodwill 4,289 4,297 Other intangible assets, net 2,754 2,880 Other assets 892 856 Total assets $ 36,954 $ 35,104 LIABILITIES Current liabilities: Short-term debt $ 129 $ 122 Current portion of long-term debt and finance lease obligations 581 90 Accounts payable 2,357 1,890 Salaries, wages and related accruals 1,002 882 Accrued expenses and other current liabilities 1,177 1,020 Total current liabilities 5,246 4,004 Long-term debt and finance lease obligations due after one year 6,389 6,909 Deferred credits and other liabilities 2,053 2,067 Total liabilities 13,688 12,980 Commitments and contingencies EQUITY Nucor stockholders equity: Common stock 152 152 Additional paid-in capital 2,207 2,253 Retained earnings 33,146 31,504 Accumulated other comprehensive loss, net of income taxes (214 ) (194 ) Treasury stock (13,182 ) (12,779 ) Total Nucor stockholders equity 22,109 20,936 Noncontrolling interests 1,157 1,188 Total equity 23,266 22,124 Total liabilities and equity $ 36,954 $ 35,104 Page 6 of 10 Nucor Executive Offices: 1915 Rexford Road, Charlotte, North Carolina 28211 Phone 704-366-7000 Fax 704-362-4208 www.nucor.com Nucor Reports Results for the Second Quarter of 2026 (Continued) Nucor Corporation Condensed Consolidated Statements of Cash Flows (Unaudited) (In millions) Six Months (26 Weeks) Ended July 4, 2026 July 5, 2025 Operating activities: Net earnings before noncontrolling interests $ 2,150 $ 932 Adjustments: Depreciation 641 606 Amortization 126 128 Impairment of assets 15 20 Stock-based compensation 91 78 Deferred income taxes (61 ) (17 ) Distributions from affiliates 7 6 Equity in earnings of unconsolidated affiliates (15 ) (14 ) Changes in assets and liabilities (exclusive of acquisitions and dispositions): Accounts receivable (952 ) (706 ) Inventories (560 ) (352 ) Accounts payable 454 375 Federal income taxes 110 135 Salaries, wages and related accruals 130 (135 ) Other operating activities 150 40 Cash provided by operating activities 2,286 1,096 Investing activities: Capital expenditures (1,232 ) (1,813 ) Investment in and advances to affiliates (2 ) (1 ) Disposition of plant and equipment 21 39 Acquisitions (net of cash acquired) (1 ) Purchases of investments (157 ) (666 ) Proceeds from the sale of investments 382 717 Divestiture of affiliate 3 Other investing activities 29 2 Cash used in investing activities (956 ) (1,723 ) Financing activities: Net change in short-term debt 6 (68 ) Repayment of long-term debt (37 ) (1,007 ) Proceeds from issuance of long-term debt, net of discount 15 997 Bond issuance costs (9 ) Proceeds from exercise of stock options 14 Payment of tax withholdings on certain stock-based compensation (77 ) (31 ) Distributions to noncontrolling interests (282 ) (214 ) Cash dividends (258 ) (258 ) Acquisition of treasury stock (475 ) (500 ) Proceeds from government incentives 77 Other financing activities (10 ) 17 Cash used in financing activities (1,104 ) (996 ) Effect of exchange rate changes on cash (8 ) 11 Increase (decrease) in cash and cash equivalents 218 (1,612 ) Cash and cash equivalents - beginning of year 2,260 3,558 Cash and cash equivalents - end of six months $ 2,478 $ 1,946 Non-cash investing activity: Change in accrued plant and equipment purchases $ 15 $ (27 ) Page 7 of 10 Nucor Executive Offices: 1915 Rexford Road, Charlotte, North Carolina 28211 Phone 704-366-7000 Fax 704-362-4208 www.nucor.com Nucor Reports Results for the Second Quarter of 2026 (Continued) Select Financial and Operational Data (Dollars in millions, tons in thousands, per unit amounts as noted) Three Months (13 Weeks) Ended Six Months (26 Weeks) Ended July 4,2026 April 4,2026 %Change July 5,2025 Year Ago %Change July 4,2026 July 5,2025 % Change Consolidated Financial & Operational Data Net Sales $ 10,397 $ 9,496 9 % $ 8,456 23 % $ 19,893 $ 16,286 22 % External Average Sales Price per Ton $ 1,367 $ 1,279 7 % $ 1,240 10 % $ 1,323 $ 1,193 11 % Sales Tons to External Customers 7,605 7,427 2 % 6,820 12 % 15,032 13,650 10 % Pre-Operating & Start-Up Costs $ 120 $ 108 11 % $ 136 -12 % $ 228 $ 306 -25 % Pre-Operating & Start-Up Costs per Diluted Share $ 0.40 $ 0.36 $ 0.45 $ 0.76 $ 1.00 Number of Days in Period 91 94 91 185 186 Steel Mills Segment Data Total Shipments 7,100 7,046 1 % 6,474 10 % 14,146 12,937 9 % Sales Tons to External Customers 5,659 5,619 1 % 5,044 12 % 11,278 10,270 10 % Percentage of Sales to Internal Customers 20 % 20 % 22 % 20 % 21 % External Average Sales Price per Ton $ 1,145 $ 1,074 7 % $ 1,041 10 % $ 1,110 $ 989 12 % Average Scrap/Scrap Substitute Cost per Gross Ton $ 422 $ 404 4 % $ 403 5 % $ 413 $ 398 4 % Utilization 91 % 86 % 85 % 88 % 82 % Steel Products Segment Data Sales Tons to External Customers 1,285 1,159 11 % 1,141 13 % 2,444 2,189 12 % Average Sales Price per Ton $ 2,415 $ 2,405 0 % $ 2,331 4 % $ 2,410 $ 2,313 4 % Page 8 of 10 Nucor Executive Offices: 1915 Rexford Road, Charlotte, North Carolina 28211 Phone 704-366-7000 Fax 704-362-4208 www.nucor.com Nucor Reports Results for the Second Quarter of 2026 (Continued) Tonnage Data (in thousands) Three Months (13 Weeks) Ended Six Months (26 Weeks) Ended July 4, 2026 April 4, 2026 %Change July 5, 2025 Year Ago% Change July 4, 2026 July 5, 2025 %Change Steel mills total shipments: Sheet 3,291 3,394 -3 % 3,057 8 % 6,685 6,038 11 % Bars 2,387 2,308 3 % 2,148 11 % 4,695 4,438 6 % Structural 628 649 -3 % 635 -1 % 1,277 1,212 5 % Plate 757 647 17 % 606 25 % 1,404 1,183 19 % Other 37 48 -23 % 28 32 % 85 66 29 % 7,100 7,046 1 % 6,474 10 % 14,146 12,937 9 % Sales tons to outside customers: Steel mills 5,659 5,619 1 % 5,044 12 % 11,278 10,270 10 % Joist and deck 198 185 7 % 217 -9 % 383 399 -4 % Rebar fabrication products 344 291 18 % 306 12 % 635 553 15 % Tubular products 338 318 6 % 243 39 % 656 513 28 % Building Systems 59 55 7 % 64 -8 % 114 112 2 % Other steel products 346 310 12 % 311 11 % 656 612 7 % Raw materials 661 649 2 % 635 4 % 1,310 1,191 10 % 7,605 7,427 2 % 6,820 12 % 15,032 13,650 10 % Page 9 of 10 Nucor Executive Offices: 1915 Rexford Road, Charlotte, North Carolina 28211 Phone 704-366-7000 Fax 704-362-4208 www.nucor.com Nucor Reports Results for the Second Quarter of 2026 (Continued) Non-GAAP Financial Measures Reconciliation of EBITDA (Unaudited) (In millions) Three Months (13 Weeks) Ended Six Months (26 Weeks) Ended July 4, 2026 April 4, 2026 July 5, 2025 July 4, 2026 July 5, 2025 Net earnings before noncontrolling interests $ 1,280 $ 870 $ 706 $ 2,150 $ 932 Depreciation 320 321 303 641 606 Amortization 63 63 63 126 128 Losses and impairments of assets 15 11 15 40 Interest expense (income), net 12 19 19 31 33 Provision for income taxes 345 226 193 571 252 EBITDA $ 2,020 $ 1,514 $ 1,295 $ 3,534 $ 1,991 Reconciliation of Adjusted Net Earnings Attributable to Nucor Stockholders (Unaudited) (In millions, except per share data) Three Months (13 Weeks) Ended July 4, 2026 Diluted EPS Net earnings attributable to Nucor stockholders $ 1,156 $ 5.04 Subtract non-cash benefit, net of tax 46 0.20 Adjusted net earnings attributable to Nucor stockholders $ 1,110 $ 4.84 Page 10 of 10 Nucor Executive Offices: 1915 Rexford Road, Charlotte, North Carolina 28211 Phone 704-366-7000 Fax 704-362-4208 www.nucor.com

EX-99.2 3 d468854dex992.htm EX-99.2 EX-99.2 Exhibit 99.2 SECOND QUARTER 2026 EARNINGS CALL Leon Topalian Chair and CEO Steve Laxton President and COO Jack Sullivan CFO July 28, 2026 FORWARD-LOOKING STATEMENTS Certain statements made in this presentation may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties. The words anticipate, believe, expect, intend, may, project, will, should, could and similar expressions are intended to identify forward-looking statements. These forward-looking statements reflect the Company s best judgment based on current information, and although we base these statements on circumstances that we believe to be reasonable when made, there can be no assurance that future events will not affect the accuracy of such forward-looking information. The Company does not undertake any obligation to update these statements. The forward-looking statements are not guarantees of future performance, and actual results may vary materially from the projected results and expectations discussed in this presentation. Factors that might cause the Company s actual results to differ materially from those anticipated in forward- looking statements include, but are not limited to: (1) competitive pressure on sales and pricing, including pressure from imports and substitute materials; (2) U.S. and foreign trade policies affecting steel imports or exports; (3) the sensitivity of the results of our operations to general market conditions, and in particular, prevailing market steel prices and changes in the supply and cost of raw materials, including pig iron, iron ore and scrap steel; (4) the availability and cost of electricity and natural gas, which could negatively affect our cost of steel production or result in a delay or cancellation of existing or future drilling within our natural gas drilling programs; (5) critical equipment failures and business interruptions; (6) market demand for steel products, which, in the case of many of our products, is driven by the level of nonresidential construction activity in the United States; (7) impairment in the recorded value of inventory, equity investments, fixed assets, goodwill or other long- lived assets; (8) uncertainties and volatility surrounding the global economy, including excess world capacity for steel production, inflation and interest rate changes; (9) fluctuations in currency conversion rates; (10) significant changes in laws or government regulations affecting environmental compliance, including legislation and regulations that result in greater regulation of greenhouse gas emissions that could increase our energy costs, capital expenditures and operating costs or cause one or more of our permits to be revoked or make it more difficult to obtain permit modifications; (11) the cyclical nature of the steel industry; (12) capital investments and their impact on our performance; (13) our safety performance; (14) our ability to integrate businesses we acquire; (15) the impact of any pandemic or public health situation; and (16) the risks discussed in Item 1A. Risk Factors of the Company s most recent Annual Report on Form 10-K and elsewhere therein and in the other reports we file with the U.S. Securities and Exchange Commission. 2 NON-GAAP FINANCIAL MEASURES The Company uses certain non-GAAP (Generally Accepted Accounting Principles) financial measures in this presentation, including adjusted earnings, EBITDA and Free Cash Flow (FCF). Generally, a non-GAAP financial measure is a numerical measure of a company s performance or financial position that either excludes or includes amounts that are not normally excluded or included in the most directly comparable financial measure calculated and presented in accordance with GAAP. We define EBITDA as net earnings before noncontrolling interests adding back the following items: interest expense, net; provision for income taxes; depreciation; amortization; and losses and impairments of assets. We define Free Cash Flow (FCF) as Cash Provided by Operating Activities less Capital Expenditures. Please note that other companies might define their non-GAAP financial measures differently than we do. Management presents non-GAAP financial measures because it considers them to be an important supplemental measure of performance. Management believes that these non-GAAP financial measures provide additional insight for analysts and investors evaluating the Company s financial and operational performance by providing a consistent basis of comparison across periods. Non-GAAP financial measures have limitations as an analytical tool. Investors are encouraged to review the reconciliation of non-GAAP financial measures to their most directly comparable GAAP financial measures provided in this presentation, including in the accompanying tables located in the Appendix. 3 Q2 2026 FINANCIAL PERFORMANCE FINANCIAL METRICS 1 $2.0 billion EBITDA Net Earnings $1.2 billion / $1.1 billion 2 (Reported / Adjusted ) EPS $5.04 / $4.84 2 (Reported / Adjusted ) ~23% debt/cap; Balance Sheet & 3 Liquidity ~$3.4 billion liquidity Capital Expenditures $571 million Returns to NUE $479 million Shareholders Dividend Payments $129 million $350 million Share Repurchases (1.5 mm shares) (1) EBITDA is a non-GAAP financial measure. For a reconciliation of non-GAAP measures, please refer to the Appendix (2) Adjusted Net Earnings excludes $61 million of pre-tax charges ($46 million after-tax). For a reconciliation of non-GAAP measures, please refer to the Appendix 4 (3) Liquidity defined as cash & equivalents, plus short-term investments, plus available revolver capacity of $2.25 billion facility less ~$1.6 billion outstanding floating- rate IRBs Q2 2026 OPERATIONAL HIGHLIGHTS EXTERNAL MILL MILL SAFETY SHIPMENTS BACKLOGS UTILIZATION (1) (1) 0.71 7.6mm 5.6mm 91% YTD Injury & Illness Rate +2% vs. Q1 2026 +18% vs. Q1 2026 +500 bps vs. Q1 2026 On track for safest year ever SAFETY Launched safest summer ever initiative to lower OUR #1 VALUE seasonal injury rate Set second consecutive quarterly shipment record, RECORD QUARTERLY shipping 7.1 million tons in Q2 STEEL MILL SHIPMENTS Driven by continued strength across all steel formats GROWTH ACROSS Shipments up 11% Q/Q; Tube set new quarterly STEEL PRODUCTS shipment record PORTFOLIO Steel Mills up 18% Q/Q, with growth across all major product categories GROWING BACKLOGS Steel Products up 10% Q/Q, up across most products 5 (1) Based on net tons. External shipments include Steel Mills (~5.66mm), Steel Products (~1.29mm), and Raw Materials (~0.66mm) TRADE POLICY LEVELS THE PLAYING FIELD 2022 Q2 2026 U.S. Import Data All Carbon & Alloy Steel Avg Monthly Quantity 2.49 2.47 2.5 2.32 SECTION 232 REBOOT 2.26 2.17 23.0% 1.97 2.0 21.7% 21.6% 21.1% 1.80 1.62 18.7% 1.57 1.5 16.4%* 15.9% 14.4% 14.3% 1.0 FY '22 FY '23 FY '24 Q1 '25 Q2 '25 Q3 '25 Q4 '25 Q1 '26 Q2 '26 H1 Finished Import Market Share Monitoring 2024: 23% Q2 2026 imports higher than Q1 2026 2025: 21% Higher H1 2026 imports of vs. H1 2025: 2026: 16% Beam: +59% Rebar: +11% Key Product Imports (H1 2026 vs. H1 2025) Federal Trade Policy Corrosion Resistant Sheet: -36% We expect the vigorous enforcement of our trade laws and Section 232 steel tariffs to HR Sheet: -40% CR Sheet: -31% continue CTL Plate: -23% Coiled Plate: -42% Sources: US Commerce Dept., AISI. 6 *April & May only Million Net Tons, Avg Monthly (BAR) % Finished C&A Import Mkt Share (LINE) WEST VIRGINIA PROJECT PROGRESSING ON TIME AND ON BUDGET COMMISSIONING THROUGHOUT 2026 Each area of new sheet mill is inspected, tested, and prepared for start-up Ran first coil through pickle line in June Expanded equipment commissioning across the site and will continue throughout the year PRODUCTION BEGINNING 2027 Initial focus is on safe and reliable performance Intentional, multi-phased ramp to full run-rate Capacity utilization and product capabilities will expand through 2027 and 2028 1 Sequencing equipment commissioning across 2026 Spring Summer Fall to year-end COLD HOT PICKLE AUTO MELT CONSTRUCTION MILL MILL LINE GALV LINE SHOP GALV LINE 7 (1) Represents the beginning of the commissioning process 2026 GROWTH PRIORITIES TOWERS & STRUCTURES NUCOR BERKELEY RAMP-UPS OF GREENFIELDS GALV LINE RECENT PROJECTS Constructing two greenfield facilities Constructing a second 500K tpa 2025 projects are on track to be fully in IN and UT; complementing galvanizing line at Nucor Steel ramped and operating at EBITDA existing facilities in PA and AL Berkeley (SC) sheet mill positive run rates within the year Indiana Towers & Structures Berkeley County, SC galv line Lexington, NC rebar micro mill Indiana Greenfield Bar Mill projects: Lexington rebar micromill and Kingman melt shop Ongoing customer qualifications; Advanced capabilities to serve were EBITDA positive in Q2 pole production ramp up in Q4 25 Southeast automotive customers First dip at galv facility in Q2 26; Equipment commissioning Crawfordsville coating complex: full production by Q3 26 currently in process Galv line ramping, paint line Production startup expected to commissioning in 2H 2026 Utah Greenfield begin in the fall First dip at galv facility by YE Alabama T&S: Expect to reach an 2026; full production by mid-2027 EBITDA positive run rate in the second half of 2026 8 STEEL MILLS MARKET ENVIRONMENT Imports* Nucor* Y/Y YTD* ADC* 2H 2026 Outlook Market Share Shipments Underlying demand is strong and Lower Higher improving, indicating continued strength HRC, CRC, & Strength through 2026 and into 2027 +11% SHEET galv all down across key Key end markets include energy, adv. >30% YTD end markets manufacturing, and data centers Sustained demand across energy, bridges, Lower Lower stadiums, and adv. manufacturing CTL plate Below 2025, +19% PLATE imports <10% tracking above Brandenburg performing well; shipments mkt share YTD 2023 & 2024 growing Q/Q Strength in energy, infrastructure, CHIP Lower Higher plants, and data centers more than Partially offset Rebar demand offsetting residential softness +6% BARS by higher rebar driving growth Growing contributions from Lexington and imports Kingman ramps Record backlogs provide visibility through Higher Higher year-end Off a low base; Pacing above +5% STRUCTURAL ~16% import 2021 post- Mega-project growth led by data centers, mkt share YTD covid peak stadiums, and adv. manufacturing 9 *YTD C&A Imports and Nucor shipments: H1 2026 vs. H1 2025; ADC: Jan-May 2026 vs. Jan-May 2025 (most recent data) Sources: US Commerce Dept., AISI and Nucor Corporation. STEEL PRODUCTS MARKET ENVIRONMENT Broad-based end market demand led by SEGMENT OVERVIEW warehouses, data centers & adv. manufacturing JOIST & Backlog extends into 2027 at pricing above DECK Nucor shipments +12% YTD current realized levels Large complex projects are Energy infrastructure and mega-projects driving driving demand for higher demand REBAR margin, engineered products Expect higher realized pricing as backlog FABRICATION and play to Nucor's strengths continues to turnover Backlogs continuing to build Border wall demand extends into 2028, adding across the segment, with TUBE to an already strong HSS and conduit market order visibility extending into 2027 for many products Segment margins expanded Data center activity driving growth, supported METAL Q/Q, partially offset by higher by healthy demand from traditional end markets BUILDINGS and large national accounts steel costs for select products and start-up costs in Towers & Structures OTHER Continued growth in IMP and Racking DOWNSTREAM Overhead Doors delivering strong margins & FCF, sales impacted by softer res. market PRODUCTS 10 CONSOLIDATED FINANCIAL RESULTS ($ in Millions except per share data) 1 2 Diluted EPS EBITDA $0.20 adj. for non-cash benefit related to increase of Helion investment valuation $5.04 $2,020 $4.84 $1,514 $3.23 $1,295 $2.60 Q2'25 Q1'26 Q2'26 Q2'25 Q1'26 Q2'26 3 Capital Expenditures Free Cash Flow $954 $829 $661 $225 $571 ($222) Q2'25 Q1'26 Q2'26 Q2'25 Q1'26 Q2'26 (1) Adjusted Earnings in Q2 26 excludes certain non-recurring charges. See appendix for a reconciliation of non-GAAP measures. (2) EBITDA is a non-GAAP financial measure. For a reconciliation of non-GAAP measures, please refer to the Appendix 11 (3) FCF represents operating cashflow minus capex Q2 2026 SEGMENT RESULTS ADJUSTED PRE-TAX SEGMENT Q2 2026 VS Q1 2026 (1) EARNINGS $146 Higher volumes $millions $353 STEEL Higher realized pricing MILLS $45 Higher EBT/ton $276 $57 $43 $392 $319 Higher volumes $24 $1,556 STEEL $251 Stable realized pricing $1,128 PRODUCTS $843 $793 Higher EBT/ton $522 ($272) ($269) ($353) ($393) Higher shipments ($491) RAW Higher realized pricing MATERIALS (3) (2) Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Corporate/Eliminations Steel Mills Steel Products Raw Materials (1) Total segment earnings before income taxes and non-controlling interests (3) Adjusted to exclude $61 million non-cash benefit related to increase in Helion MTM write up in Corporate/Eliminations (2) Adjusted to exclude $6 million impairment in Steel Mills and $21 million impairment in taken in Q2 2026. For a reconciliation of non-GAAP 12 Steel Products taken in Q4 2025. For a reconciliation of non-GAAP measures, please measures, please refer to the Appendix. refer to the Appendix. FUNDING GROWTH, RETURNING CAPITAL, AND MAINTAINING FINANCIAL FLEXIBILITY >75% OF YTD CAPITAL ALLOCATED TO SHAREHOLDER MAINTAINING FINANCIAL FLEXIBILITY RETURNS AND GROWTH CAPEX $ in millions Maintenance & $ in millions xLTM 1 all other Capex as of July 4, 2026 Amount EBITDA % cap Shareholder 2 Total Debt $7,099 1.2x 23% (4) $431 Returns $733 3 Cash and Cash Equivalents $2,692 Net Debt $4,407 0.8x $801 Total Equity & Non-Controlling Int. $23,266 77% Growth Total Book Capitalization $30,365 100% Capex COMMITTED TO RETURNING AT LEAST 40% OF HIGHEST CREDIT RATINGS IN THE INDUSTRY ANNUAL NET EARNINGS $ in millions (4) Shareholder returns Rating Long-term Short-term Outlook Agency Rating Rating $479 $429 S&P A- A-1 Stable $329 $254 Fitch A- F1 Stable $227 $227 Moody s A3 P-2 Stable Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Represents Nucor s senior unsecured ratings (1) EBITDA is a non-GAAP financial measure. For a reconciliation of non-GAAP measures, please refer to the Appendix. (2) Total Debt includes Short-Term Debt, Current Portion of Long-Term Debt, Long-term Debt and Finance Lease Obligations (3) Includes Cash and Cash Equivalents and Short-Term Investments 13 (4) Includes dividends and share repurchases Q3 2026 EARNINGS OUTLOOK IMPACT ON Q3 SEGMENT EXPECTATIONS FOR Q3 vs Q2 EARNINGS VS Q2 Stable volumes with higher average realized pricing Steel Mills Higher conversion costs, as we do not expect any further material benefit related to raw material refunds Higher volumes Steel Products Higher average realized pricing Raw Materials Lower scrap pricing and higher pellet costs Lower expense due to stable intersegment profit eliminations Corp / Eliminations Lack of non-cash benefit related to Q2 Helion MTM write-up Consolidated Higher compared to Q2 reported earnings Earnings 14 APPENDIX 15 2025 CORPORATE SUSTAINABILITY REPORT KEY HIGHLIGHTS 8 consecutive years of improved safety performance, including an 8% decrease in injury & illness rate in 2025 SAFETY & TEAMMATES 92% teammate retention rate in 2025, excluding retirements Launched Nucor Safety Leadership program, training 324 front-line leaders 2030 & 2050 GHG targets certified by the Global Steel Climate Council (GSCC) Record-high number of GSCC-certified low-carbon steel products (14) ENERGY & GHG REDUCTION GOALS Supported additions of clean power generation to the grid Partnering with nuclear energy industry to accelerate deployment Sebree Solar I (250 MW) began generating electricity in Sept. 2025 On-site solar array operational at Nucor Steel Kingman (AZ) bar mill $23 million+ donated to charitable organizations through operating divisions and the Nucor Charitable Foundation COMMUNITY Ranked #1 on Fortune s list of World s Most Admired Companies th in the metals industry for 5 straight year 16 SEGMENT RESULTS: STEEL MILLS AND STEEL PRODUCTS STEEL MILLS $s in millions, tons in thousands % Change Versus Prior Prior Q2 26 Q1 26 Q2 25 Shipments Q2 2026 vs. Q1 2026 Qtr. Year Sheet 3,291 3,394 3,057 -3% 8% Higher volumes Bars 2,387 2,308 2,148 3% 11% Higher realized pricing Structural 628 649 635 -3% -1% Plate 757 647 606 17% 25% Higher EBT/ton Other Steel 37 48 28 -23% 32% Total Shipments 7,100 7,046 6,474 1% 10% 1 38% 85% Adj. EBT $1,556 $1,128 $843 1 37% 68% Adj. EBT /Ton $219 $160 $130 STEEL PRODUCTS $s in millions, tons in thousands % Change Versus Prior Prior Shipments Q2 26 Q1 26 Q2 25 Q2 2026 vs. Q1 2026 Qtr. Year Tubular 338 318 243 6% 39% Joist & Deck 198 185 217 7% -9% Higher volumes Rebar Fabrication 344 291 306 18% 12% Stable realized pricing Building Systems 59 55 64 7% -8% Other 346 310 311 12% 11% Higher EBT/ton Total Shipments 1,141 11% 1,285 1,159 13% 1 Adj. EBT $353 $276 $392 28% -10% 15% Adj. EBT/Ton $275 $238 $344 -20% (1) EBT refers to Earnings (loss) before income taxes and noncontrolling interests as disclosed in relevant Nucor quarterly earnings news release 17 SEGMENT RESULTS: RAW MATERIALS RAW MATERIALS $s in millions, tons in thousands % Change Versus Q2 2026 vs. Q1 2026 Prior Prior Q2 26 Q1 26 Q2 25 Production Qtr. Year Higher shipments DRI 3% 12% 1,098 1,063 979 Scrap Processing 1,285 1,323 1,155 -3% 11% Higher realized pricing 1 Total Production 2,383 2,386 2,134 - 12% 2 Adj. EBT $146 $45 $57 224% 156% (1) Total production excluding scrap brokerage activities. (2) EBT refers to Earnings (loss) before income taxes and noncontrolling interests as disclosed in relevant Nucor quarterly earnings news release 18 QUARTERLY SALES AND EARNINGS DATA SALES TONS (THOUSANDS) TO OUTSIDE CUSTOMERS EARNINGS STEEL STEEL PRODUCTS (LOSS) BEFORE INCOME TAXES COMP. SALES OTHER TOTAL PRICE TOTAL JOIST & REBAR TUBULAR BLDG STEEL STEEL RAW TOTAL NET SALES PER $ PER YEAR SHEET BARS BEAM* PLATE STEEL DECK FAB PRODS SYSTEMS PRODS PRODS MATLS TONS ($ MILLIONS) TON ($) ($ 000 S) TON 2026 Q1 2,787 1,667 554 611 5,619 185 291 318 55 310 1,159 649 7,427 $9,496 $1,279 $969 $137 Q2 2,680 1,774 527 678 5,659 198 344 338 59 346 1,285 661 7,605 $10,397 $1,367 $1,501 $212 Q3 Q4 YEAR 2025 2,475 1,702 495 554 5,226 182 247 270 48 301 1,048 556 6,830 $7,830 $1,146 $215 $33 Q1 2,449 1,507 513 575 5,044 217 306 243 64 311 1,141 635 6,820 $8,456 $1,240 $796 $126 Q2 Q3 2,440 1,515 472 549 4,976 254 356 206 62 305 1,183 615 6,774 $8,521 $1,258 $807 $125 Q4 2,220 1,412 436 534 4,602 218 270 228 54 255 1,025 564 6,191 $7,687 $1,242 $456 $77 YEAR 9,584 6,136 1,916 2,212 19,848 871 1,179 947 228 1,172 4,397 2,370 26,615 $32,494 $1,221 $2,274 $90 19 *Beam includes all structural steel QUARTERLY SALES PRICES & SCRAP COST STEEL MILLS AVERAGE SCRAP AND SCRAP AVG EXTERNAL SUBSTITUTE COST SALES PRICE TOTAL SHEET BARS BEAM* PLATE PER NET TON PER GROSS PER NET STEEL TON USED TON USED 2026 2026 st st $404 $361 1 Quarter $1,001 $1,013 $1,541 $1,151 $1,074 1 Quarter nd nd 2 Quarter $422 $377 2 Quarter $1,088 $1,049 $1,608 $1,263 $1,145 First Half $413 $369 First Half $1,044 $1,032 $1,574 $1,210 $1,110 rd rd 3 Quarter 3 Quarter Nine Months Nine Months th th 4 Quarter 4 Quarter YEAR YEAR 2025 2025 st st $888 $877 $1,300 $1,014 $938 1 Quarter $394 $352 1 Quarter nd nd 2 Quarter $403 $360 2 Quarter $1,008 $927 $1,352 $1,194 $1,041 $398 $355 First Half $948 $900 $1,327 $1,106 $989 First Half rd rd $982 $961 $1,394 $1,182 $1,038 3 Quarter $391 $349 3 Quarter Nine Months $396 $354 Nine Months $959 $920 $1,348 $1,131 $1,005 th th 4 Quarter $935 $975 $1,464 $1,113 $1,019 4 Quarter $380 $339 $954 $933 $1,374 $1,126 $1,008 YEAR $392 $350 YEAR 20 *Beam includes all structural steel QUARTERLY SALES PRICE STEEL PRODUCTS STEEL PRODUCTS AVG EXTERNAL SALES PRICE PER JOIST & FABRICATED TUBULAR BUILDING OTHER STEEL TOTAL STEEL NET TON DECK REBAR PRODUCTS SYSTEMS PRODUCTS PRODUCTS 2026 st 1 Quarter $2,454 $1,646 $1,661 $6,084 $3,193 $2,405 nd $2,450 $1,656 $1,772 $5,993 $3,173 $2,415 2 Quarter First Half $2,452 $1,651 $1,718 $6,037 $3,183 $2,410 rd 3 Quarter Nine Months th 4 Quarter YEAR 2025 st $2,734 $1,651 $1,351 $5,832 $2,838 $2,294 1 Quarter nd 2 Quarter $2,605 $1,593 $1,559 $5,206 $2,876 $2,331 First Half $2,664 $1,619 $1,450 $5,472 $2,857 $2,313 rd 3 Quarter $2,438 $1,594 $1,621 $5,406 $3,061 $2,358 Nine Months $2,576 $1,609 $1,499 $5,449 $2,926 $2,329 th $2,452 $1,654 $1,540 $5,574 $3,297 $2,413 4 Quarter YEAR $2,545 $1,619 $1,509 $5,479 $3,006 $2,348 21 RECONCILIATION OF GAAP TO NON-GAAP MEASURE - EBITDA $ in millions 2024 2025 LTM Q1 2026 Q2 2025 Q2 2026 Net earnings before $2,319 $2,038 $3,256 $870 $706 $1,280 non-controlling interests Net interest expense ($30) $59 $57 $19 $19 $12 Income taxes $583 $530 $849 $226 $193 $345 Depreciation expense $1,094 $1,226 $1,261 $321 $303 $320 Amortization expense $262 $254 $252 $63 $63 $63 Losses and impairments of assets $137 $67 $42 $15 $11 -- EBITDA $4,365 $4,174 $5,717 $1,514 $1,295 $2,020 22 RECONCILIATION OF GAAP TO NON-GAAP MEASURE FREE CASH FLOW (FCF) $ in millions 2024 2025 LTM Q1 2026 Q2 2025 Q2 2026 CASH PROVIDED BY $3,979 $3,234 $4,424 $886 $732 $1,400 OPERATING ACTIVITIES CAPITAL EXPENDITURES ($3,173) ($3,422) ($2,841) ($661) ($954) ($571) FREE CASH FLOW $806 ($188) $1,583 $225 ($222) $829 23 RECONCILIATION OF GAAP TO NON-GAAP MEASURE EARNINGS ATTRIBUTABLE TO NUCOR STOCKHOLDERS $ in millions Q4 2025 Q2 2026 Diluted EPS Diluted EPS NET EARNINGS ATTRIBUTABLE TO $378 $1.64 $1,156 $5.04 NUCOR STOCKHOLDERS (INCREASES) / DECREASES RELATED TO VALUATION OF CERTAIN ASSETS, $22 $0.09 ($46) ($0.20) NET OF TAX ADJUSTED NET EARNINGS $400 $1.73 $1,110 $4.84 ATTRIBUTABLE TO NUCOR STOCKHOLDERS 24 RECONCILIATION OF GAAP TO NON-GAAP MEASURE PRE-TAX SEGMENT EARNINGS $ in millions Q4 2025 Q2 2026 Steel Steel Raw Corp/ Steel Steel Raw Corp/ Mills Products Materials Elims Mills Products Materials Elims EARNINGS (LOSS) BEFORE INCOME TAXES AND NONCONTROLLING $516 $230 $24 ($269) $1,556 $353 $146 ($430) INTERESTS (INCREASES) / DECREASES RELATED $6 $21 -- -- -- -- -- ($61) TO VALUATION OF CERTAIN ASSETS ADJUSTED EARNINGS (LOSS) BEFORE INCOME TAXES AND $522 $251 $24 ($269) $1,556 $353 $146 ($491) NONCONTROLLING INTERESTS 25