Nucor Corporation

Good morning and welcome to Nucor's third quarter 2026 earnings call. All lines have been placed on mute to prevent any background noise and today's call is being recorded. After the speaker's prepared remarks, I will provide instructions for callers wishing to ask questions. I would now like to introduce Chris Jacobi, Director of Investor Relations. You may begin your call.

Thank you and good morning everyone. Welcome to Nucor's third quarter earnings review and business update. Leading our call today is Leon Topalian, Chair and CEO, along with Steve Laxton, President and COO, and Jack Sullivan, CFO. Other members of Nucor's executive team are also here with us today and may participate during the Q&A portion of the call. Thank you for joining us. Thank you for joining us.

Thanks, Chris. I want to begin by recognizing our 33,000 teammates for making the summer of 2026 our safest summer ever. Summer brings added safety challenges and our team met them with focus and determination. That's something to be proud of and it reflects our commitment to the most important value we have, safety. And as we finish the year, let's keep looking out for one another and make sure every one of our team members goes home safely at the end of every shift. Turning to our third quarter financial results, Nucor delivered its strongest quarter in more than three years with approximately $2.3 billion of EBITDA and earnings of $5.80 per share. Jack's going to unpack our results in more detail, but many of the themes we've highlighted throughout the year continue this quarter. Strong demand across key end markets, growing contributions from recent investments, and federal policies that support a healthy domestic steel sector. And with the capital spending moderating as major projects near completion, that strength is increasingly showing up in new course free cash flow. We also remain committed to meaningful shareholder returns, returning $629 million in dividends and buybacks during the quarter, bringing our year to date total to nearly $1.4 billion. Operationally, the Nucor team is executing exceptionally well across each of our business segments. In our steel mills, quarterly shipments exceeded 7.2 million tons, setting another shipment record for the third consecutive quarter. This would not be possible without the investments we've made over the past six years, many of which are now online and contributing to our results. For example, the plate group set another quarterly shipment record. Brandenburg shipped approximately 240,000 tons, or roughly one-third of the group's total shipments. The team has done an amazing job bringing the mill's full capabilities online and advancing customer qualifications. The Bar Group also set another quarterly shipment record. Our Lexington Micro Mill has had a very successful ramp-up since coming online last year. Thank you for watching. In steel products, we saw a significant improvement in quarterly earnings. Higher shipments and a notable inflection in pricing led to margin expansion across most of our major product groups. Joyston Deck had a standout quarter with shipments up about 20% and realized pricing increasing by $110 a ton. And in raw materials, our Louisiana DRI plant has begun capturing CO2 emissions for transport and storage through a project with ExxonMobil. The project is designed to capture and store up to 800,000 tons of CO2 annually, supporting our greenhouse gas emissions reduction goals and strengthening Nucor's position as one of the world's cleanest steel producers. Congratulations to our entire team in Louisiana on this achievement. Thank you for joining us. Finish deal imports are down more than 13% year-over-year and down 24% compared to 2024. Fair trade supports strong markets. Unfair trade distorts them. However, import volumes have been increasing in recent months, including a massive surge from South Korea despite the Section 232 tariffs. From decades of experience fighting for a level playing field, we know we must always stay vigilant. Therefore, we will work closely with the administration to ensure trade measures remain robust and effective. But make no mistake, demand is very healthy. Even as imports have crept higher this year, domestic shipments have risen in each of the past three quarters. Strong market fundamentals and favorable trade policies will continue to support a positive outlook for the domestic steel industry. With that, I'll turn it over to Steve for an update on our growth initiatives and market outlook. Steve?