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Nucor Corporation’s $2 Billion Quarter: Can Record Shipments Outrun Start-Up Costs?

Nucor Corporation reported solid financial and operational results for the second quarter of 2026, demonstrating growth across its business segments amid supportive market dynamics and strategic capital investments. The company delivered approximately $2 billion in EBITDA and earnings per share of $5.04, which included a noncash benefit of $0.20 related to an investment valuation adjustment, resulting in adjusted EPS of $4.84. The quarter’s results exceeded guidance, underpinned by record shipment volumes and increased pricing, particularly in the Steel Mills and Steel Products segments. Operationally, Nucor set new shipment records for steel mills with 7.1 million tons, marking two consecutive quarters of record deliveries. Growth was highlighted in several product categories, especially at the Brandenburg plate facility, which shipped over 230,000 tons in the quarter, and in the tube group within Steel Products, both setting shipment records.