Nucor reported record steel shipments of 7.1M tons and strong Q2 earnings, driving shares near an all-time high.
Nucor (NUE) shares jumped 7.2% Tuesday, closing within $1 of its record high after the company posted stronger-than-expected Q2 adjusted earnings. Steel shipments hit a record 7.1M tons, supported by rising prices linked to tariffs.
The company’s Q2 net profit nearly doubled year-over-year, exceeding analyst estimates. Prior quarter shipments stood at 6.8M tons, with earnings per share at $4.12, below the current quarter’s performance.
The rally reflects investor confidence in tariff-driven pricing power and demand resilience in the steel sector.