COMMERCIAL METALS (CMC) Company Report

Analyst Earnings Quarterly Reports

Earnings summaries and quarterly performance for COMMERCIAL METALS.

Analyst Coverage

Research analysts who have asked questions during COMMERCIAL METALS earnings calls.

Sathish Kasinathan

BMO Capital Markets

7 questions for CMC

Also covers: FNV

Katja Jancic

BMO Capital Markets

6 questions for CMC

Also covers: AA, ARCH, ASTL +9 more

Philip Gibbs

KeyBanc Capital Markets

6 questions for CMC

Also covers: ATI, CLF, CRS +10 more

Bill Peterson

JPMorgan Chase & Co.

4 questions for CMC

Also covers: AA, ACHR, BLDE +11 more

Tristan Gresser

BNP Paribas

4 questions for CMC

Also covers: CLF, MT, NUE +3 more

Mike Harris

Goldman Sachs

3 questions for CMC

Also covers: CLF, NUE, RS +1 more

Alex Hacking

Citigroup

2 questions for CMC

Also covers: AA, ARCH, CLF +7 more

Andrew Jones

UBS

2 questions for CMC

Also covers: ERELY, MT, NUE +1 more

Timna Tanners

Wolfe Research

2 questions for CMC

Also covers: AA, AMRZ, ATI +19 more

Carlos de Alba

Morgan Stanley

1 question for CMC

Also covers: AA, AR, BVN +13 more

Cecilia Tang

Goldman Sachs

1 question for CMC

Michael Harris

Goldman Sachs

1 question for CMC

Also covers: CLF, NUE, RS +1 more

Latest news

Recent press releases and 8-K filings for CMC.

CMC Reports Q1 FY26 Results, Outlines Deleveraging Strategy and Market Outlook

CMC

Earnings

M&A

Guidance Update

CMC reported net earnings of $177.3 million and adjusted earnings of $206.2 million for Q1 FY26, with Core EBITDA reaching $316.9 million.
Net leverage increased to approximately 2.5x after the $2.5 billion acquisitions of CP&P and Foley, with a target to reduce it below 2x within 18 months.
North American market conditions are stable with positive signals for strengthening demand, including a 50% year-over-year increase in the Dodge Momentum Index in November. Europe also shows potential growth from a proposed €500 billion German stimulus package and new trade policies.
For Q2 2026, CMC expects a modest decline in consolidated core EBITDA, while Construction Solutions Group adjusted EBITDA should improve, and Europe Steel Group adjusted EBITDA is projected to be approximately breakeven.

Jan 8, 2026, 4:00 PM

Presentation

CMC Reports Strong Q1 Fiscal 2026 Results and Details Strategic Acquisitions

CMC

Earnings

M&A

Guidance Update

CMC reported Q1 Fiscal 2026 adjusted earnings of $1.84 per diluted share and consolidated core EBITDA of $316.9 million, a 52% increase from the prior year period, driven by solid execution and a supportive market backdrop.
The company completed the acquisitions of CPMP and Foley Products subsequent to Q1, establishing one of the largest precast concrete businesses in the U.S., which is projected to contribute $165 million-$175 million of EBITDA for approximately eight and a half months of ownership in Fiscal 2026.
CMC anticipates consolidated Core EBITDA in Q2 Fiscal 2026 to modestly decline from Q1 levels due to normal seasonal slowdowns, partially offset by the newly acquired precast businesses.
The TAG operational and commercial excellence program is expected to achieve an annualized run rate EBITDA benefit of $150 million by the end of Fiscal 2026, with initiatives expanding across all business segments.

Jan 8, 2026, 4:00 PM

Transcript

CMC Reports Strong Q1 2026 Earnings and Details Impact of Recent Acquisitions

CMC

Earnings

M&A

Guidance Update

CMC reported strong Q1 2026 financial results, with Adjusted Earnings of $206.2 million, or $1.84 per diluted share, and consolidated Core EBITDA of $316.9 million, which grew over 50% year-over-year and nearly 9% sequentially.
The company closed the acquisitions of CP&P and Foley Products in December, creating one of the largest precast concrete businesses in the U.S., and projects these acquisitions to contribute $165 million-$175 million in EBITDA for approximately 8.5 months of ownership in fiscal 2026.
CMC's enterprise-wide TAG program is on track to deliver an annualized run rate EBITDA benefit of $150 million by the end of fiscal 2026. For Q2 2026, consolidated Core EBITDA is expected to modestly decline from Q1 levels, partially offset by the new precast businesses.

Jan 8, 2026, 4:00 PM

Transcript

CMC Reports Strong Q1 2026 Earnings and Updates on Acquisitions

CMC

Earnings

Guidance Update

M&A

CMC reported Q1 2026 adjusted earnings of $206.2 million, or $1.84 per diluted share, and consolidated core EBITDA of $316.9 million, which grew by over 50% from a year ago.
The company closed the acquisitions of CPMP and Foley Products in December, subsequent to the first quarter, with these precast businesses expected to contribute $165 million-$175 million of EBITDA for approximately eight and a half months of ownership in fiscal 2026.
CMC anticipates Q2 2026 consolidated Core EBITDA to modestly decline from Q1 levels due to normal seasonal slowdown, partially offset by the addition of the newly acquired precast businesses.
The TAG operational and commercial excellence program is on track to deliver an annualized run rate EBITDA benefit of $150 million by the end of Fiscal 2026.
The company aims to return to a net leverage target of below two times within 18 months and expects a full-year effective tax rate between 5% and 10% for fiscal 2026.

Jan 8, 2026, 4:00 PM

Transcript

Commercial Metals Company Reports Strong Q1 Fiscal 2026 Results and Completes Acquisitions

CMC

Earnings

M&A

Guidance Update

Commercial Metals Company reported net earnings of $177.3 million, or $1.58 per diluted share, and adjusted earnings of $206.2 million, or $1.84 per diluted share, for the first quarter of fiscal 2026, on net sales of $2.1 billion.
Consolidated core EBITDA for Q1 fiscal 2026 was $316.9 million, representing a 52% year-over-year increase and a 14.9% core EBITDA margin.
The company completed the acquisitions of CP&P and Foley in December, deploying over $2.5 billion of capital to establish a new growth platform in the precast concrete industry.
New initiatives under the Transform, Advance, and Grow ("TAG") program were launched, with a goal of exiting fiscal 2026 at an annualized run-rate EBITDA benefit of $150 million.
During the quarter, CMC repurchased $38.9 million of common stock and declared a quarterly dividend of $0.18 per share. Following the recent acquisitions, net leverage increased to approximately 2.5x, with a target to reduce it below 2x within 18 months.

Jan 8, 2026, 1:31 PM

8-K

CMC Reports Strong Fiscal First Quarter 2026 Results

CMC

Earnings

M&A

Share Buyback

Commercial Metals Company (CMC) reported fiscal first quarter 2026 net earnings of $177.3 million, or $1.58 per diluted share, and adjusted earnings of $206.2 million, or $1.84 per diluted share, on net sales of $2.1 billion for the quarter ended November 30, 2025.
Consolidated core EBITDA for the quarter was $316.9 million, representing approximately 52% year-over-year growth, with a core EBITDA margin of 14.9%.
CMC completed the acquisitions of CP&P and Foley in December, establishing a new growth platform in the precast concrete industry by deploying over $2.5 billion of capital.
During the quarter, CMC repurchased 663,220 shares of common stock valued at $38.9 million and declared a quarterly dividend of $0.18 per share.
The North America Steel Group's Adjusted EBITDA increased 57.9% to $293.9 million, and the Construction Solutions Group's Adjusted EBITDA grew 74.7% to $39.6 million year-over-year.

Jan 8, 2026, 11:45 AM

Press Release

CMC Applauds Preliminary Anti-Dumping Ruling Against Algerian Rebar

CMC

Legal Proceedings

Commercial Metals Company (CMC) has applauded a preliminary ruling by the Department of Commerce, which found that rebar originating from Algeria has been unfairly dumped into the United States market.
As a result of this finding, an anti-dumping margin of 127% will be immediately applied to all rebar sourced from Algeria entering the domestic market.
A final determination from the Department of Commerce regarding this ruling is expected within the next 75 days.
This announcement is related to a trade petition filed by the U.S. domestic rebar industry in June 2025, which also included allegations against steel producers in Bulgaria, Egypt, and Vietnam.
Further preliminary rulings for countervailing duty investigations covering Egypt, Vietnam, and Algeria are expected in January 2026, and for antidumping duty investigations covering Egypt, Vietnam, and Bulgaria in March 2026.

Dec 19, 2025, 11:45 AM

Press Release

Commercial Metals Company Amends Credit Facility

CMC

Debt Issuance

Commercial Metals Company (CMC) announced an amendment to its credit agreement, increasing its revolving credit facility borrowing capacity from $600.0 million to $1.0 billion.
The amendment extends the maturity date of the revolving credit facility from October 26, 2029 to December 17, 2030.
The Third Amendment, dated December 17, 2025, also included the removal of Wells Fargo Bank, National Association as a lender.

Dec 17, 2025, 10:20 PM

8-K

CMC Amends Revolving Credit Facility

CMC

Debt Issuance

Commercial Metals Company (CMC) amended its revolving credit facility on December 17, 2025.
The amendment increases the borrowing capacity from $600.0 million to $1.0 billion.
It also extends the maturity date of the facility from October 26, 2029 to December 17, 2030.

Dec 17, 2025, 9:15 PM

Press Release

CMC Completes Acquisition of Foley Products Company

CMC

M&A

Debt Issuance

New Projects/Investments

Commercial Metals Company (CMC) completed the acquisition of Foley Products Company on December 15, 2025.
The acquisition was for a cash purchase price of $1.84 billion, subject to customary adjustments.
The purchase was funded by the issuance of $1.0 billion of 5.750% senior unsecured notes due November 2033 and $1.0 billion of 6.000% senior unsecured notes due December 2035.
Foley Products Company is a leading supplier of precast concrete and pipe products operating 18 facilities across nine states.
This acquisition, along with the prior CP&P acquisition, establishes CMC as one of the largest precast concrete businesses in the United States, creating a major new growth platform.