Summary

• Nucor Corporation delivered a strong FY26 start, beating earnings on higher shipment volumes and improved pricing, supporting a reiterated Strong Buy rating.
• NUE is positioned to benefit from megatrends, including data center expansion and $1.4T in utility grid investments, driving sustained demand through the decade.
• Section 232 tariffs and new facility ramp-ups enhance NUE's domestic pricing power and growth prospects, despite potential input cost headwinds.
• I maintain a $276/share price target (10.92x eFY28 EV/EBITDA), citing margin expansion, strategic capital deployment, and a resilient balance sheet with 0.93x net leverage.

Nucor Corporation (NUE) reported a robust start to FY26 with a strong beat to earnings driven by higher volumes shipped paired with incremental improvements to pricing. With Nucor participating in multiple megatrends across the US, including

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Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in NUE over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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