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Nucor
Nucor (NUE) investor relations material
Nucor Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary27 Jan, 2026
Executive summary
Achieved record safety performance in 2025, with the lowest injury and illness rate in company history and a 35% improvement over five years.
Leadership transition: Steve Laxton promoted to President and COO, continuing as CFO until a successor is named; Dave Sumoski to retire in June after over 30 years.
Major growth and transformation with significant investments in steel mill and steel products segments, focusing on higher-margin products and new customer solutions.
Achieved FY 2025 adjusted net earnings of $1.8B and adjusted EBITDA of $4.2B, with Q4 adjusted net earnings of $400M and adjusted EBITDA of $918M.
Returned $1.2B to shareholders in 2025 through dividends and share repurchases.
Financial highlights
FY 2025 adjusted EPS was $7.71, with Q4 adjusted EPS of $1.73.
Q4 2025 net sales were $7.69B, up 9% year-over-year; full-year net sales were $32.49B, a 6% increase over 2024.
FY 2025 capital expenditures totaled $3.4B; Q4 capex was $802M.
FY 2025 free cash flow was negative at -$188M, reflecting high capex and lower operating cash flow.
Ended 2025 with $2.7B in cash and equivalents.
Outlook and guidance
Expect higher consolidated earnings in Q1 2026, with improved results across all segments and increased shipment volumes.
2026 shipment outlook up ~5% year-over-year, supported by strong backlogs and ramp-ups of recent projects.
Projected 2026 capex of ~$2.5B, with major investments in the West Virginia sheet mill and new galvanizing lines.
Free cash flow expected to increase meaningfully in 2026 as major projects ramp up and capital spending declines.
What is the primary focus of 2026 capex?
How did 2025 trade enforcement impact imports?
Why did Raw Materials EBT decline in Q4 2025?
What caused steel products segment earnings decline Q4?
Quantify new projects' earnings contribution?
What's the strategy for share repurchases?
Future M&A focus: adjacencies and megatrends
How new projects align with $6.7B EBITDA target?
How lower imports impact Nucor's market share?
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Next Nucor earnings date
Q1 202628 Apr, 2026
Nucor
Next Nucor earnings date
Q1 202628 Apr, 2026
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Frequently asked questions
Nucor Corporation is a steel producer and fabricator headquartered in Charlotte, North Carolina, with manufacturing operations in California, Florida and Alabama. The Nucor Corporation family of companies operates six producing facilities and 21 finishing facilities in the United States with annual production capacity of approximately 13 million tons of steel per year. Nucor Corporation distributes its products through nine distribution centers located throughout the United States and through a wholly owned subsidiary in Canada.
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