Analyst Consensus ?
ConsensusHold32 ratings
Bullish1959.4%
Neutral1031.2%
Bearish39.4%
Nucor Corporation · NUE · FY2026 Q3 · Calendar Q4 2026
Nucor: Record shipments support strong Q3; CapEx set to moderate
Nucor's Q3 results support a constructive operating view: record shipments, pricing strength and broad infrastructure, data-center, automotive and energy demand outweighed near-term cost and seasonal risks. The next test is execution as new capacity ramps and capital spending declines.
Reported After market closeNYSEBasic Materials
$58.39B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$5.80
Consensus $5.84
EPS surprise
-0.7%
Reported versus consensus
Reported revenue
$11.25B
Consensus $10.84B
Revenue surprise
+3.8%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
+5.9%
Event window
SPY move
+0.6%
Same window
Abnormal move
+5.3%
Stock minus SPY
Volume
0.9×
Versus trailing sessions
Subsequent drift
0.0%
Up to 20 sessions
NUESPY benchmark
Ask FN2 about NUE FY2026 Q3
Transcript, numbers and history already loaded
Why did NUE rise 5.9% after missing EPS estimates in FY2026 Q3?What changed in NUE's guidance and outlook in FY2026 Q3?Give me the bull and bear case for NUE after FY2026 Q3 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior quarter, Nucor reported another record shipment quarter, stronger EBITDA and free cash flow, while the capital-spending outlook shifted toward moderation. The company also added detail on its data-center steel position, automotive expansion, and Louisiana CO2 capture project.
Guidance delta
Management maintained its outlook while moderating capital spending: full-year 2026 CapEx is expected at or slightly below $2.5 billion, with a decline in 2027.
Key takeaways
- Record quarterly shipments and pricing strength drove EBITDA above $2 billion and supported the strongest quarterly performance in more than three years.
- New capacity remains the central growth lever, with the West Virginia sheet mill and Berkeley galvanizing line progressing toward 2027 ramp-up.
- Free cash flow and moderating capital spending support continued shareholder returns, while Q4 seasonality and conversion costs are key watch items.
Management priorities
- Ramp the West Virginia sheet mill and Berkeley automotive-grade galvanizing line.
- Expand automotive platform contracts and data-center steel offerings.
- Advance Louisiana DRI carbon capture with ExxonMobil and add towers-and-structures capacity in Indiana and Alabama.
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Beat
Miss
Match
Analyst 52W Price Targets
$270.79Current
$110Low
$202.48Average
$306High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 27, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Barclays | Overweight | Overweight | Maintain | Oct 19, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Oct 9, 2026 |
| Keybanc | Overweight | Overweight | Maintain | Oct 5, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | Sep 18, 2026 |
| Freedom Broker | Hold | Buy | Downgrade | Sep 18, 2026 |
| BMO Capital | Outperform | Outperform | Maintain | Jul 29, 2026 |
| UBS | Neutral | Neutral | Maintain | Jul 28, 2026 |
| B of A Securities | Buy | Buy | Maintain | Jul 9, 2026 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Jun 22, 2026 |
| Citigroup | Buy | Buy | Maintain | Apr 29, 2026 |
| Jefferies | Buy | Buy | Maintain | Dec 10, 2025 |
| Goldman Sachs | Buy | Buy | Maintain | Apr 7, 2025 |
| Credit Suisse | Outperform | Outperform | Maintain | Jul 11, 2023 |
| Exane BNP Paribas | Outperform | Neutral | Upgrade | Jul 5, 2023 |
| Wolfe Research | Peer Perform | Underperform | Upgrade | Jun 1, 2023 |
| Argus Research | Buy | Buy | Maintain | Apr 25, 2022 |
| Deutsche Bank | Hold | Hold | Maintain | Sep 15, 2021 |
| Seaport Global | Buy | Buy | Maintain | Aug 24, 2021 |
| Longbow Research | Buy | Neutral | Upgrade | Dec 9, 2019 |
| Bank of America | Underperform | Buy | Downgrade | May 31, 2019 |
| Cowen & Co. | Outperform | Outperform | Maintain | Jan 9, 2019 |
| Macquarie | Outperform | Neutral | Upgrade | May 17, 2018 |
| Argus | Hold | Buy | Downgrade | May 5, 2018 |
| Berenberg | Buy | Hold | Upgrade | Dec 6, 2016 |
| CLSA | Sell | Outperform | Downgrade | Apr 22, 2016 |
| Standpoint Research | Hold | Buy | Downgrade | Apr 13, 2016 |
| Nomura | Buy | Neutral | Upgrade | Dec 14, 2015 |
| Clarksons Platou | Buy | Buy | Maintain | Apr 14, 2015 |
| CIBC | Sector Underperform | Sector Perform | Downgrade | Oct 24, 2014 |
| Bernstein | Perform | Market Perform | Maintain | Dec 12, 2013 |
| Wellington Shields | Hold | Hold | Maintain | Sep 4, 2013 |
| Dahlman Rose | Hold | Buy | Downgrade | Aug 23, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $270.79. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Barclays | Richard Garchitorena | $306 | $256.29 | +13.0% | Oct 19, 2026 |
| KeyBanc | Analyst unavailable | $286 | $240.39 | +5.6% | Oct 5, 2026 |
| Wells Fargo | Timna Tanners | $280 | $265.14 | +3.4% | Sep 18, 2026 |
| BMO Capital | Analyst unavailable | $295 | $263.18 | +8.9% | Jul 29, 2026 |
| Wells Fargo | Analyst unavailable | $297 | $265.62 | +9.7% | Jul 29, 2026 |
| Barclays | Richard Garchitorena | $295 | $265.62 | +8.9% | Jul 29, 2026 |
| Morgan Stanley | Carlos De Alba | $270 | $265.62 | -0.3% | Jul 29, 2026 |
| Barclays | Richard Garchitorena | $272 | $235.09 | +0.4% | Jul 15, 2026 |
| KeyBanc | Analyst unavailable | $274 | $239.63 | +1.2% | Jun 24, 2026 |
| Morgan Stanley | Carlos De Alba | $258 | $243.83 | -4.7% | Jun 22, 2026 |
| Wells Fargo | Analyst unavailable | $283 | $252.6 | +4.5% | Jun 18, 2026 |
| Wells Fargo | Analyst unavailable | $292 | $257.73 | +7.8% | Jun 4, 2026 |
| Barclays | Richard Garchitorena | $270 | $226.44 | -0.3% | May 21, 2026 |
| Seaport Global | Analyst unavailable | $245 | $224.9 | -9.5% | Apr 30, 2026 |
| Goldman Sachs | Analyst unavailable | $240 | $225.11 | -11.4% | Apr 29, 2026 |
| BMO Capital | Analyst unavailable | $235 | $217.23 | -13.2% | Apr 28, 2026 |
| UBS | Analyst unavailable | $224 | $215 | -17.3% | Apr 28, 2026 |
| Wells Fargo | Analyst unavailable | $213 | $190.04 | -21.3% | Apr 15, 2026 |
| UBS | Andrew Jones | $183 | $173.58 | -32.4% | Jan 28, 2026 |
| Morgan Stanley | Carlos De Alba | $180 | $167.88 | -33.5% | Jan 9, 2026 |
| Wells Fargo | Timna Tanners | $176 | $160.69 | -35.0% | Dec 18, 2025 |
| UBS | Analyst unavailable | $168 | $151.99 | -38.0% | Oct 29, 2025 |
| Wells Fargo | Timna Tanners | $147 | $151.99 | -45.7% | Oct 29, 2025 |
| Morgan Stanley | Carlos De Alba | $165 | $152.4 | -39.1% | Oct 28, 2025 |
| Wells Fargo | Analyst unavailable | $140 | $142.83 | -48.3% | Sep 18, 2025 |
| Morgan Stanley | Carlos De Alba | $164 | $127.4 | -39.4% | Mar 24, 2025 |
| UBS | Andrew Jones | $160 | $127.4 | -40.9% | Mar 24, 2025 |
| Argus Research | Analyst unavailable | $155 | $132.49 | -42.8% | Mar 5, 2025 |
| Morgan Stanley | Carlos De Alba | $154 | $131.3 | -43.1% | Feb 3, 2025 |
| Argus Research | John Eade | $160 | $147.73 | -40.9% | Oct 29, 2024 |
| CFRA | Matthew Miller | $129 | $146.02 | -52.4% | Oct 22, 2024 |
| Morgan Stanley | Carlos De Alba | $170 | $142.18 | -37.2% | Sep 18, 2024 |
| BMO Capital | Katja Jancic | $160 | $142.18 | -40.9% | Sep 18, 2024 |
| Morgan Stanley | Carlos De Alba | $176 | $141.26 | -35.0% | Aug 15, 2024 |
| BMO Capital | Katja Jancic | $175 | $153.61 | -35.4% | Jun 17, 2024 |
| Jefferies | Christopher LaFemina | $170 | $154.44 | -37.2% | Jun 14, 2024 |
| Jefferies | Christopher LaFemina | $190 | $172.12 | -29.8% | May 20, 2024 |
| UBS | Analyst unavailable | $145 | $151.01 | -46.5% | Dec 6, 2022 |
| Credit Suisse | Analyst unavailable | $140 | $116.63 | -48.3% | Sep 16, 2022 |
| Morgan Stanley | Analyst unavailable | $115 | $122.31 | -57.5% | Jul 25, 2022 |
| Morgan Stanley | Analyst unavailable | $121 | $103.46 | -55.3% | Jul 6, 2022 |
| Argus Research | David Coleman | $190 | $149.39 | -29.8% | May 4, 2022 |
| Goldman Sachs | Analyst unavailable | $148 | $168.66 | -45.3% | Apr 22, 2022 |
| BMO Capital | David Gagliano | $168 | $173.05 | -38.0% | Apr 22, 2022 |
| Credit Suisse | Analyst unavailable | $175 | $171.27 | -35.4% | Apr 22, 2022 |
| J.P. Morgan | Michael Glick | $129 | $165.32 | -52.4% | Apr 14, 2022 |
| UBS | Andreas Bokkenheuser | $110 | $107.06 | -59.4% | Jun 4, 2021 |
Track every rating change on NUE the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationNucor Corporation is a prominent producer and distributor of steel and diverse steel-related products. Within its Steel Mills division, the company manufactures a comprehensive range of steel goods. These include various sheet steel types like hot-rolled, cold-rolled, and galvanized, alongside plate steel. It also produces structural components such as wide-flange beams, beam blanks, H-piling, and sheet piling. Furthermore, this segment supplies bar steel products, encompassing blooms, billets, concrete reinforcing bars, merchant bars, and specialized bar quality items. Beyond manufacturing, Nucor's steel mills are involved in steel trading and the distribution of rebar. Its clientele primarily consists of steel service centers, fabricators, and manufacturers across the United States, Canada, and Mexico. The Steel Products segment provides an array of manufactured steel goods, such as hollow structural section tubing, electrical conduits, steel racking, joists and girders, steel decks, and fabricated concrete reinforcing steel.…
Historical context
All NUE earningsBasic Materials peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| FCX Freeport-McMoRan Inc. | FY2026 Q3 · Calendar Q4 2026 | — | +1.4% | Freeport highlights Grasberg ramp-up and copper growth plans as sales guidance is trimmed |
| SHW The Sherwin-Williams Company | FY2026 Q3 · Calendar Q4 2026 | — | -2.6% | Sherwin-Williams Q3: Growth, Costs and 2027 Savings |
| CX CEMEX, S.A.B. de C.V. | FY2026 Q3 · Calendar Q4 2026 | +12.0% | -0.1% | CEMEX sustains growth while shifting focus to efficiency and asset pruning |
Latest beats and misses
Who reports nextBeat on EPS
- CINFFY2026 Q3 · October 26, 2026+39.5% EPS+2.3% move
- VZFY2026 Q3 · October 26, 2026+3.1% EPS-3.5% move
- CXFY2026 Q3 · October 26, 2026+12.0% EPS-0.1% move
- CDNSFY2026 Q3 · October 26, 2026+2.9% EPS+1.8% move
- BAHFY2027 Q2 · October 23, 2026+18.9% EPS-0.3% move
- FCNCAFY2026 Q3 · October 23, 2026+19.9% EPS+8.2% move
Missed on EPS
- SUIFY2026 Q3 · October 26, 2026-20.0% EPS-4.1% move
- PSA-PIFY2026 Q3 · October 26, 2026-32.1% EPS— move
- PSA-PJFY2026 Q3 · October 26, 2026-32.1% EPS— move
- PSA-PHFY2026 Q3 · October 26, 2026-32.1% EPS— move
- PSA-PFFY2026 Q3 · October 26, 2026-32.1% EPS— move
- PSA-PSFY2026 Q3 · October 26, 2026-32.1% EPS— move
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Sources
- Earnings call transcript and parsed analysis · 2026-10-27T17:03:31.438018+00:00
- FN2 earnings calendar · 2026-10-27T01:23:15.065758+00:00
- Polygon adjusted daily market bars · 2026-10-27T17:50:41.987952+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-27T17:50:41.985208+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-27. For educational purposes only; not investment advice.