Nucor Corporation (NUE) investor relations material

Executive summary

• Q3 2025 net earnings reached $607 million ($2.63 per share), with EBITDA of $1.3 billion, exceeding guidance and reflecting resilient operational performance and strong steel mill shipments.

• Safety performance achieved record-low injury rates for the eighth consecutive year.

• Advanced multi-year capital investment campaign, with four major projects to be completed by year-end and 80% of a $10 billion plan completed through Q3.

• Expanded market share in high-growth sectors, especially data centers, with 95% of steel products used in such facilities and a 30% year-over-year increase in forecasted data center square footage for 2025.

• Net sales for Q3 2025 were $8.52 billion, a 14% increase year-over-year.

Financial highlights

• Q3 2025 EBITDA was $1.3 billion, net earnings $607 million, and EPS $2.63, with net sales of $8.52 billion and operating cash flow of $1.3 billion.

• Year-to-date adjusted net earnings reached $1.4 billion ($5.98 per share), and nine-month sales were $24.81 billion.

• Capital expenditures for Q3 were $807 million; year-to-date CAPEX at $2.6 billion, with $3.3 billion projected for the full year.

• Returned nearly $1 billion to shareholders year-to-date, representing over 70% of net earnings.

• Cash and short-term investments at quarter-end were $2.75 billion; liquidity stood at $3.6 billion.

Outlook and guidance

• Q4 2025 consolidated earnings expected to be lower due to seasonality, fewer shipping days, lower realized pricing and volumes, and scheduled outages.

• Backlogs for steel products extend into Q2 2026, with continued strength in mega projects and infrastructure demand.

• Imports are expected to retreat further, with trade cases and tariffs supporting domestic market share.

• Expect stable domestic steel demand in 2026, with upside potential from new capacity and market share gains.