Nucor Faces Seasonal Headwinds In Q4, Yet Order Backlogs Signal 2026 Recovery

Nucor Corporation (NYSE:NUE) shares are trading lower on Wednesday after the company issued fourth-quarter EPS guidance below analyst estimates. The company projects fourth-quarter 2025 EPS of $1.65–$1.75, below the $2.18 consensus estimate, citing seasonal pressures while noting improving order backlogs heading into 2026. Nucor expects earnings to decline across all three operating segments on a sequential basis, reflecting seasonal factors and fewer shipping days. In the steel mills segment, earnings are expected to decrease due to lower volumes and margin compression, particularly in sheet. The steel products segment is anticipated to face lower volumes and higher average costs per ton, partially offset by improved average pricing. Also, raw materials segment earnings are expected to fall due to two scheduled DRI facility outages. Buyback In the fourth quarter, Nucor repurchased roughly 0.7 million shares at an average price of $145.23, bringing year-to-date repurchases to about 5.4 million shares at an average of $128.66. Outlook For 2026, the company also expects gradual improvements in business conditions supported by favorable monetary, tax, and trade policies. Nucor is expected to release its earnings after market close on January 26, 2026. Recent Earnings Release In October, the company reported quarterly earnings of $2.63 per share, which beat the analyst estimate of $2.25 by 16.63%. Revenue came in at $8.52 billion, which beat the consensus estimate of $8.15 billion. Price Action: NUE shares are down 2.01% at $159.00 at the last check on Wednesday. Read Next: Warren Buffett Initiates Alphabet Position, Trims Apple In Q3 — Here Are Berkshire’s Moves Photo via Shutterstock