CMC Ends Fiscal Year with $655.8M Net Earnings

By Bobby Samwell • Thursday, October 15 10:53 • Permanent Link

CMC ended fiscal 2026 with net earnings of $655.8 million, while consolidated core EBITDA climbed to $1.4 billion from $837.3 million in fiscal 2025. Core EBITDA margin widened 380 basis points to 14.5%.

For the fourth quarter, net earnings rose to $212.5 million, or $1.91 per diluted share, from $151.8 million, or $1.35 per diluted share, a year earlier. Adjusted earnings increased to $233.6 million, or $2.09 per diluted share, from $155.0 million, or $1.37 per diluted share.

Quarterly net sales were $2.66 billion, up 25.7% from $2.11 billion a year ago and 7.1% from the prior quarter. Core EBITDA increased 35.1% year over year to $393.7 million and 11.3% sequentially from $353.6 million. Margin improved to 14.8% from 13.8% in the year-ago quarter and 14.2% in the prior quarter.

In North America Steel, adjusted EBITDA rose 32.6% year over year to $317.5 million. The segment’s margin increased to 16.4% from 14.8%. Finished goods shipment volumes were up 5.3% from a year earlier. Merchant bar shipment volumes jumped 27.5% year over year and 16.0% sequentially.

Metal margins in North America Steel increased $84 per ton from the prior year to $652 per ton, and improved $42 per ton sequentially. The sequential gain came from a $32 per ton increase in average selling price and a $10 per ton decline in scrap costs.

Construction Solutions Group posted fourth-quarter net sales of $431.4 million, up 94.5% from the prior year. Adjusted EBITDA doubled to $101.7 million from $50.6 million, and margin improved to 23.6% from 22.8%. Precast sales were $190.8 million and precast adjusted EBITDA was $57.0 million. Within the segment, bookings rose 12.6% sequentially, backlog increased nearly 4% from the third quarter and about 3% from a year earlier.

Europe Steel Group generated adjusted EBITDA of $15.6 million, down from $39.1 million a year earlier, while finished goods shipment volumes rose 0.8%. Metal margin expanded by $32 per ton year over year as average selling price increased $44 per ton and scrap costs rose $12 per ton.

On the balance sheet, cash, cash equivalents and restricted cash totaled $778.9 million at August 31, 2026. Net leverage adjusted for acquisitions fell to 1.9x, below the company’s 2x target. During the quarter, CMC repurchased 383,333 shares for $26.7 million. Today the company's shares have moved 0.8% to a price of $65.29. Check out the company's full 8-K submission here.

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