1) Leadership and Strategy Updates - Leon Topalian emphasized the importance of safety, both physical and mental, for Nucor's 33,000 employees. - Jack Sullivan was promoted to CFO, succeeding Dan Needham, who will retire in June after 26 years with the company. - The leadership team is focused on maintaining a healthy balance sheet while investing in growth and returning cash to shareholders.

2) Financial Performance and Segment Results - Nucor reported Q1 2026 EBITDA of approximately $1.5 billion and earnings of $3.23 per share, a significant increase from the previous quarter. - Shareholder returns included $254 million through dividends and share buybacks, with $661 million reinvested into the business. - Steel mills achieved record shipments of 7 million tons, the highest quarterly volume in Nucor's history, with a backlog of 4.7 million tons, up 20% from year-end.

3) Market Environment and Demand Trends - Domestic steel consumption is expected to remain stable, with overall demand projected to increase by 5% in 2026. - The company noted strong demand in sectors such as data centers, energy, and infrastructure, while some markets like consumer cyclicals remain softer. - The enforcement of trade policies, including Section 232 tariffs, has effectively reduced imports from 22% to approximately 15% of the U.S. finished steel market.

4) Operational and Product Developments - Nucor is progressing on its new sheet mill in West Virginia, with commissioning expected to begin in 2026 and full production ramp-up anticipated by early 2027. - Other capital projects include new utility towers facilities in Indiana and Utah, and expansion of the galvanizing line in South Carolina. - The company is also seeing positive contributions from recently completed projects, including a micro mill in North Carolina and a melt shop in Arizona.

5) Guidance and Outlook - Nucor expects higher consolidated earnings in Q2 2026, driven by stable volumes and improving metal margins. - The company anticipates continued growth in shipments and cash flow throughout the year, supported by strong non-residential construction and infrastructure demand. - There is optimism for exceeding the previously projected 5% volume growth for the year, with expectations of potentially reaching double-digit growth.

Bottom line: Nucor's strong Q1 performance, robust demand across key sectors, and strategic investments position the company well for continued growth and shareholder returns in 2026 and beyond.