Charlotte, North Carolina-based Nucor Corporation (NUE) engages in the manufacture and sale of steel and steel products. With a market cap of $31.8 billion, the company operates in three segments: Steel Mills, Steel Products, and Raw Materials.

The company is set to unveil its second-quarter results on Monday, July 28, after the market closes. Ahead of the event, analysts expect NUE to report non-GAAP earnings of $2.60 per share, down 3% from the profit of $2.68 per share reported in the year-ago quarter. Additionally, the company has surpassed the Street’s bottom-line projections in each of the past four quarters, which is impressive.

For the current year, its earnings are expected to be $8.21 per share, down 7.8% from $8.90 per share reported in the year-ago quarter. However, in fiscal 2026, its earnings are expected to rise 28% year-over-year to $10.51 per share.

NUE stock has declined 11% over the past 52 weeks, underperforming the Materials Select Sector SPDR Fund’s (XLB) 3% surge and the S&P 500 Index’s ($SPX) 11.9% uptick during the same time frame.

NUE shares rose 1.9% following the release of its Q1 2025 earnings on Apr. 28. The company reported a revenue of $7.83 billion in the period, beating Street forecasts, mainly driven by an increase in shipments from its steel mills segment caused by higher domestic demand and rising spot prices of hot-rolled coil. Furthermore, its adjusted EPS for the quarter came in at $0.77, surpassing the consensus estimate by 13.2%.

The consensus opinion on NUE is highly optimistic, with a “Strong Buy” rating overall. Of the 13 analysts covering the stock, opinions include nine “Strong Buys,” one “Moderate Buy,” and three “Holds.” Its mean price target of $150 suggests a 9.5% upside potential from current price levels.