US steelmaker Nucor reported net income of $1.32 billion in the third quarter of 2026, up 14.1% from the previous quarter and 117.3% from the same period in 2025.
Revenue rose 8.2% quarter on quarter and 32% year on year to $11.25 billion. Sales to external customers totaled 7.53 million short tons, down 0.9% from the second quarter but up 11.2% year on year. The average selling price reached $1,493 per short ton, up 9.2% on the quarter and 18.7% from a year earlier.
EBITDA was $2.28 billion, up 12.8% from the previous quarter and 80.2% from the third quarter of 2025. Nucor’s average scrap and scrap cost fell 0.2% quarter on quarter to $421 per gross ton.
Nucor achieved the first heat at its West Virginia sheet mill in September and recently started up a second galvanizing line at Nucor Steel Berkeley.
The company expects fourth-quarter 2026 earnings to be “generally in line with or modestly higher than in the third quarter.” It forecasts stable earnings in both the steel mills and steel products segments, as higher realized prices offset seasonally lower volumes and, in the mills segment, higher costs. Raw materials earnings are expected to edge down because of lower realized DRI pricing.
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