Nucor (NUE) Q1 FY2026 earnings: revenue $9.5 billion, up 21.3% on the year

Nucor Corp. (NUE) reported revenue of $9.5 billion for Q1 FY2026, the quarter ended 4 April 2026, up 21.3% on the same quarter a year earlier. Net income was $743 million, up 376.3% on the year, and diluted earnings per share $3.23. The figures are the company's own, from the 10-Q it filed with the SEC on 13 May 2026.

Revenue

$9.5 billion

+21.3% on the year · +23.5% on the quarter

Q2 FY2024Q1 FY2026

Operating margin

n/a

Q2 FY2024Q1 FY2026

Net income

$743 million

+376.3% on the year · +96.6% on the quarter

Q2 FY2024Q1 FY2026

Diluted EPS

$3.23

+382.1% on the year · +97.0% on the quarter

Q2 FY2024Q1 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 1 new, 1 kept.

Net earnings reached $743 million: Net earnings attributable to Nucor stockholders were $743 million, or $3.23 per diluted share. The fourth quarter of 2025 reported $378 million, or $1.64 per diluted share.
Steel mills drove sequential earnings growth: Earnings rose in all three segments from the fourth quarter. Steel mills was the main driver, with higher average selling prices and volumes across all product groups.
Steel mills earnings reached $1,128 million: Steel mills earnings before income taxes and noncontrolling interests were $1,128 million, against $516 million in the fourth quarter of 2025 and $231 million a year earlier.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Revenue	9,496	7,687	7,830	+23.5%	+21.3%
Cost of revenue	7,995	6,825	7,225	+17.1%	+10.7%
Gross profit	1,501	862	605	+74.1%	+148.1%
Gross margin	15.8%	11.2%	7.7%
Selling, general and administrative	378	334	281	+13.2%	+34.5%
Interest expense	39.0	32.0	51.0	+21.9%	-23.5%
Pre-tax income	1,096	501	285	+118.8%	+284.6%
Income tax	226	78.0	59.0	+189.7%	+283.1%
Effective tax rate	20.6%	15.6%	20.7%
Net income	743	378	156	+96.6%	+376.3%
Net margin	7.8%	4.9%	2.0%
Diluted EPS	$3.23	$1.64	$0.67	+97.0%	+382.1%

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Operating cash flow	886	799	364	+10.9%	+143.4%
Capital expenditure	661	802	859	-17.6%	-23.1%
Free cash flow	225	-3.0	-495
Free cash flow margin	2.4%	-0.0%	-6.3%
Cash from investing	-446	-717	-1,180
Cash from financing	-472	-46.0	414
Depreciation and amortisation	384	379	368	+1.3%	+4.3%
Share-based compensation	30.0	31.0	26.0	-3.2%	+15.4%
Buybacks	125	100	300	+25.0%	-58.3%
Dividends paid	129	127	129	+1.6%	0.0%
Dividend per share	$0.56	n/a	$0.55		+1.8%
Diluted shares, weighted	229m	230m	233m	-0.1%	-1.5%
Shares outstanding at period end	228m	228m	231m	-0.0%	-1.3%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Shareholders' equity	21,453	20,936	20,069	+2.5%	+6.9%
Non-controlling interest	1,095	1,188	1,046	-7.8%	+4.7%
Debt	7,124	7,121	7,880	+0.0%	-9.6%
Operating lease liabilities	n/a	102	n/a
Finance lease liabilities	n/a	234	n/a
Other liabilities	5,963	5,523	5,704	+8.0%	+4.5%
Total liabilities and equity	35,635	35,104	34,699	+1.5%	+2.7%
Fixed assets	15,596	15,306	13,759	+1.9%	+13.4%
Goodwill	4,295	4,297	4,287	-0.0%	+0.2%
Intangible assets	2,817	2,880	3,069	-2.2%	-8.2%
Investments	255	439	905	-41.9%	-71.8%
Cash and equivalents	2,226	2,260	3,156	-1.5%	-29.5%
Receivables	3,567	3,105	2,965	+14.9%	+20.3%
Inventory	5,644	5,462	5,256	+3.3%	+7.4%
Other assets	1,235	1,355	1,302	-8.9%	-5.1%
Total assets	35,635	35,104	34,699	+1.5%	+2.7%

Questions

What was Nucor's revenue in Q1 FY2026?

Nucor (NUE) reported revenue of $9.5 billion for Q1 FY2026, the quarter ended 4 April 2026, up 21.3% on the same quarter a year earlier.

How much did Nucor earn in Q1 FY2026?

Net income for Q1 FY2026 was $743 million, up 376.3% on the year, and diluted earnings per share $3.23.

When did Nucor report Q1 FY2026 results?

Nucor filed its 10-Q for the quarter ended 4 April 2026 with the SEC on 13 May 2026.

Quarterly results, the last 20 quarters

	Q3 FY2021	Q4 FY2021	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023	Q1 FY2024 †	Q2 FY2024 †	Q3 FY2024 †	Q4 FY2024 †	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	10,313	10,364	10,493	11,794	10,501	8,724	8,710	9,523	8,776	7,705	8,137	8,077	7,444	7,076	7,830	8,456	8,521	7,687	9,496	10,397
Cost of revenue	6,907	6,841	7,035	7,690	7,657	6,626	6,712	7,022	6,855	6,311	6,614	6,883	6,686	6,449	7,225	7,233	7,333	6,825	7,995	8,363
Gross profit	3,406	3,523	3,458	4,104	2,843	2,097	1,998	2,502	1,921	1,394	1,523	1,194	758	627	605	1,223	1,188	862	1,501	2,034
Gross margin	33%	34%	33%	35%	27%	24%	23%	26%	22%	18%	19%	15%	10%	9%	8%	14%	14%	11%	16%	20%
SG&A	526	502	525	563	487	423	390	453	386	355	345	294	244	240	281	304	300	334	378	405
Interest expense	43.9	40.6	44.1	63.5	54.6	56.8	62.7	60.8	63.2	59.2	43.0	67.0	65.0	52.3	51.0	49.0	38.0	32.0	39.0	36.0
Pre-tax income	2,869	3,008	2,898	3,490	2,323	1,533	1,597	2,050	1,548	1,078	1,225	898	388	390	285	899	883	501	1,096	1,625
Tax rate	23%	22%	23%	22%	23%	14%	23%	23%	21%	19%	22%	21%	22%	11%	21%	21%	23%	16%	21%	21%
Net income	2,128	2,250	2,096	2,561	1,695	1,256	1,137	1,461	1,142	785	845	645	250	287	156	603	607	378	743	1,156
Net margin	21%	22%	20%	22%	16%	14%	13%	15%	13%	10%	10%	8%	3%	4%	2%	7%	7%	5%	8%	11%
Diluted EPS	$7.28	$7.97	$7.67	$9.67	$6.50	$4.89	$4.45	$5.81	$4.57	$3.16	$3.46	$2.68	$1.05	$1.22	$0.67	$2.60	$2.63	$1.64	$3.23	$5.04
Operating cash flow	1,737	2,610	2,472	2,262	2,805	2,534	1,207	1,920	2,464	1,520	460	1,485	1,301	733	364	732	1,339	799	886	1,400
Capital expenditure	505	415	448	521	461	518	532	525	439	718	670	801	823	879	859	954	807	802	661	571
Free cash flow	1,232	2,196	2,024	1,740	2,343	2,016	675	1,395	2,025	802	-211	684	478	-146	-495	-222	532	-3.0	225	829
Buybacks	858	1,502	905	803	652	403	426	451	500	177	1,001	500	400	315	300	200	100	100	125	350
Dividends paid	120	117	138	134	132	129	131	129	128	127	134	131	129	128	129	129	127	127	129	129
Shares outstanding	257m	269m	266m	262m	257m	252m	251m	249m	246m	241m	240m	237m	235m	231m	231m	230m	229m	228m	228m	227m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 4 April 2026, filed 13 May 2026: the filing.