Nucor’s 2Q results beat expectations as shipment records were set across multiple segments, supported by strong execution and ramping capital projects, driving a 3.3% stock gain. Growth in shipments and backlog strength contributed to a generally positive market reaction.
- Steel mill shipments reached a new record at 7.1 million tons for the second consecutive quarter.
- Steel Products shipments rose 11% quarter-over-quarter, led by a record performance in the Tube group.
- Return of capital to shareholders totaled $479 million, representing 41% of net earnings.
- Capital expenditures were $571 million this quarter, with $2.5 billion expected for the year, primarily toward growth projects.
- Strong trade enforcement efforts helped reduce finished steel imports 25% year-over-year, aiding domestic demand.
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