Key Highlights

  • Nucor (NYSE:NUE) earned USD 5.80 per share on net sales of USD 11.25 billion, a narrow 0.48% shortfall against USD 5.83, and guided the fourth quarter roughly flat to modestly higher than the third quarter.
  • Gerdau (NYSE:GGB) reported adjusted EBITDA of 3.771 billion Brazilian reais, up 37.8%, with a 20.2% margin that was the highest since the second quarter of 2023, though published EPS data listed a miss.
  • CEMEX (NYSE:CX) beat with EPS of USD 0.28 against USD 0.21 and EBITDA up 12%, while management remains confident in 2026 EBITDA growth of 16% to 17%. US cement prices fell 3% sequentially.
  • Simpson Manufacturing (NYSE:SSD) beat with EPS of USD 2.68 against USD 2.40 on sales up 2.3% to USD 638.1 million, and its board authorized a USD 1.0 billion buyback replacing a USD 200.0 million program, with no expiration date.

Nucor (NYSE:NUE): Steel Mills Carry USD 5.80 EPS

Nucor (NYSE:NUE) reported third quarter 2026 diluted EPS of USD 5.80 against a USD 5.83 consensus, a 0.48% shortfall, on net sales of USD 11.25 billion and net earnings of USD 1.319 billion. Steel mills earned USD 1.788 billion before taxes on 7.231 million tons shipped, steel products USD 465 million and raw materials USD 105 million. Mills therefore supplied about 76% of the three-segment total, simple arithmetic. Management expects fourth quarter earnings roughly flat to modestly higher. The company returned about USD 629 million to stockholders, including about 2.03 million shares repurchased at USD 247.04 on average. Nucor (NYSE:NUE) earns its profit from the spread between steel prices and scrap and energy costs, so imports, construction demand and scrap prices are the main risks. Capital expenditure was USD 1,861 million over the first nine months, and the quarter ended October 3, 2026. The company said steel mills and steel products should be stable in the fourth quarter, with raw materials slightly lower.

Gerdau (NYSE:GGB): EBITDA Up 37.8% but a Reported Miss

Gerdau (NYSE:GGB) reported third quarter 2026 adjusted EBITDA of 3.771 billion Brazilian reais, up 37.8%, with a 20.2% margin that was the highest since the second quarter of 2023. Net income was 1.563 billion reais, or 0.79 reais per share, up from 0.54 reais. Published market data listed EPS of USD 0.77 against USD 1.00, a 22.79% miss on a currency basis the company release does not reconcile. North America earned 2.912 billion reais of adjusted EBITDA, about 76% of the total, while Brazil faced rising imports. The company declared a dividend of 0.34 reais per share payable December 15, 2026. Gerdau (NYSE:GGB) gave no numeric guidance. Import pressure in Brazil and shipments down 5.6% year over year are the risks. Brazil earned 741 million reais at a 10.7% margin, and South America earned 160 million reais, down 31.8% year over year. Fitch and S&P revised the outlook to positive, and net debt to adjusted EBITDA was 0.58 times.

CEMEX (NYSE:CX): EBITDA Up 12% and Cash Flow Up 34%

CEMEX (NYSE:CX) reported third quarter 2026 EPS of USD 0.28 against a USD 0.21 consensus, a 33.33% beat in published market data. Net sales were about USD 4.59 billion, up about 8%, EBITDA rose 12% to about USD 990 million, and free cash flow from operations rose 34% to USD 723 million. Mexico delivered double-digit EBITDA growth and nearly 4 points of margin gain, while US cement prices fell 3% sequentially and a plant outage hurt. Net financial leverage fell to 1.8 times. Management remains confident in 2026 EBITDA growth of 16% to 17%. CEMEX (NYSE:CX) cited about USD 60 million of savings from its cost program. Fourth quarter maintenance and energy headwinds and US pricing are the risks. Net debt plus subordinated notes fell about USD 535 million since December and total debt fell USD 1.7 billion. Management assumed 18.25 to 18.50 pesos per dollar for the fourth quarter, so a weaker peso than that would affect its forecast.

Simpson Manufacturing (NYSE:SSD): Beat by 11.67% and a USD 1.0 Billion Buyback

Simpson Manufacturing (NYSE:SSD) reported third quarter 2026 diluted EPS of USD 2.68, up 3.9%, against a USD 2.40 consensus, an 11.67% beat in published market data. Net sales rose 2.3% to USD 638.1 million, while operating margin was 22.1%, down from 22.6%, as higher steel costs trimmed gross margin to 45.7%. North America sales rose 3.8% and Europe fell 3.4%. The board approved a new USD 1.0 billion repurchase authorization on October 22, 2026, replacing a USD 200.0 million program. Management expects 2026 operating margin of 20.0% to 20.5%. Simpson Manufacturing (NYSE:SSD) bought USD 66.3 million of shares in the quarter. Steel costs, housing demand and European weakness are the risks. Income from operations grew only 0.2%, so most of the EPS gain came from the lower share count and financial effects. The new buyback authorization is five times the old one, though it sets a ceiling and not a commitment to buy. Capital expenditure for 2026 is expected at USD 80.0 million to USD 90.0 million.

Where Things Stand

Four industrial stocks reported solid margins but uneven demand on October 26, 2026, and this description is not advice. Nucor (NYSE:NUE) showed steel mill profit of USD 1.788 billion and a stable outlook. Gerdau (NYSE:GGB) showed North America carrying earnings while Brazil faced imports. CEMEX (NYSE:CX) had the strongest improvement, with free cash flow up 34% and leverage at 1.8 times. Simpson Manufacturing (NYSE:SSD) grew sales only 2.3% but protected a 22.1% operating margin and expanded its buyback. It also guided 2026 operating margin of 20.0% to 20.5%, including a USD 11.0 million land-sale gain. Steel and energy costs, imports, housing demand and currency moves are the common risks, and guidance can change quickly. Investors should compare how each company turns volume and price into margin.