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14:00
Jul 28 ◎

NUE FY2026 Q2 Watch

Nucor Corporation (NUE) FY2026 Q2 Earnings Call

NUE ▾

Leon Topalian

Management's tone is strongly bullish, driven by robust multi-year demand across data centers, energy, reshoring, and infrastructure, plus new capacity ramping (West Virginia) and fading import competition.

"I couldn't be more optimistic in the back half of this year but as we head into 27 I think 27 could be a very special year not just for Nucor but this industry."

NUE WATCH

HIGH

14:00
Apr 28 ◎

NUE FY2026 Q1 Watch

Nucor Corporation (NUE) FY2026 Q1 Earnings Call

HYMTF NPSCY NUE STLD ▾

Leon Tapalian

Hyundai is building a new sheet mill in Louisiana, indicating new domestic steel capacity that could increase competition.

"You're seeing, you know, similar results in Louisiana with – Hyundai, you know, building their sheet mill there."

HYMTF WATCH

Leon Tapalian

Nippon Steel's acquisition of US Steel brings new management and potential strategic shifts to a key domestic competitor.

"We've seen Nippon Steel come in and buy the U.S. steel assets. And, you know, that company no longer exists, right? It's now owned and operated by a Japanese company."

NPSCY WATCH

Leon Tapalian

Management is highly optimistic about 2026 and beyond, citing strong demand, improving pricing, and the ramp-up of new growth projects leading to higher earnings and cash flow.

"the pent-up tsunami of earnings power that Nucor has invested is still yet to hit the balance sheet. It is why I am so incredibly optimistic."

NUE WATCH

Steve Laxton

Nucor's new West Virginia sheet mill is set to begin commissioning in Q2 2026, with a target of running at ~50% capacity by end of 2027, adding to domestic supply. — The new mill will ramp up supply in a key sheet-consuming region, increasing competition and potentially pressuring pricing over the medium term.

"we'll be operating somewhere near that 50% of capacity by the end of next year."

STLD WATCH

HIGH

15:00
Jan 27 ◎

NUE FY2025 Q4 Watch

Nucor Corporation (NUE) FY2025 Q4 Earnings Call

X NUE CLF STLD ▾

Leon Topalian

Management references U.S. Steel's change in ownership to highlight the strength of the U.S. market and the investment appeal of domestic steel assets. This signals a competitive landscape shift as Nucor remains the largest player and could benefit from continued market strength.

"It's why you saw and now what was, you know, a U.S. company, now a Japanese company, a U.S. steel. It's not an American company today. It is a Japanese-owned company."

X WATCH

Leon Topalian

Management's tone is distinctly long and confident, citing record backlogs, improved trade policy, and strong demand in key end markets like data centers and energy. They expect higher earnings in Q1 2026 and significant free cash flow generation for the year, supported by the completion of major capex projects.

"We begin 2026 with real momentum built on years of hard work, disciplined investment and a relentless commitment to grow the core, expand beyond and live our culture."

NUE WATCH

Leon Topalian

Imports' share of the U.S. finished steel market has collapsed from ~25% to ~14-16%, creating a significant supply gap that domestic producers, particularly Nucor, are filling. — This structural shift in import levels provides pricing power and volume opportunities for all domestic steelmakers, suggesting a strong 2026 for the sector.

"Foreign imports share of the US finished steel market has dropped from approximately 25% at this time last year to 16% in October and an estimated 14% in November."

CLF WATCH

Leon Topalian

Nucor's steel mill backlogs are up nearly 40% year-over-year, and its structural group backlog is a record, signaling sustained strength in non-residential construction and infrastructure. — The record backlogs in steel mills and structural products indicate that demand for construction and infrastructure steel remains robust, which is a positive leading indicator for other producers.

"Foreign imports share of the US finished steel market has dropped from approximately 25% at this time last year to 16% in October and an estimated 14% in November."

STLD WATCH

HIGH

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