Nucor Issues Q3 Earnings Guidance Below Expectations Despite Strong Shipments
On September 17, Nucor Corporation (NYSE:NUE) issued weaker-than-expected third-quarter earnings guidance of $5.55 to $5.65 per diluted share for the quarter ending in October 2026. This prompted Freedom Broker to downgrade its rating from Buy to Hold and reduce its price target from $305 to $285, citing a significant gap between Nucor's guidance and prior estimates of around $7.54 per share. Despite the disappointing forecast, Nucor reported strong performance in Q2 2026 with record steel mill shipments reaching 7.1 million tons — up from previous quarters — driven by robust investment activity across key U.S. sectors and supportive trade policies. The company also returned $1.36 billion to shareholders through dividends and share repurchases year-to-date. Analyst sentiment remains largely positive, with 74% of covering analysts still rating the stock a Buy. Nucor's forward P/E ratio stands at 11.51, suggesting it is relatively undervalued despite its strong performance this year.
Tickers: $NUE