Q2 FY26 · Ended Jul 4, 2026 · View SEC filing
Steel prices outran scrap, and profit outran sales
With scrap lagging steel prices, a 23% rise in sales lifted pre-tax earnings by 81%.
For investorsHow much of this quarter's spread can last?
For foundersProfit sharing as a cost structure
Segments trade heavily with each other, so a steel price rise moves profit from the fabricators to the mills.
Capital spending fell while operating cash nearly doubled, reversing a year when building consumed more cash than operations produced.
Profit sharing makes part of labour cost variable, so costs fall back when steel turns down.
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Business Lens describes Nucor from its own filings with the SEC. It is not a view on its shares, a target, or advice to buy, sell or hold anything; figures are as filed and may be restated by the company later. The filing is linked above.
