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Commercial Metals Company - $CMC STOCK NEWS

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Commercial Metals Company (NYSE: CMC) is a leading player in the metals industry, operating steel mills, steel fabrication plants, and metal recycling facilities primarily in the United States and Europe. With a legacy of over 100 years, CMC produces rebar and structural steel critical to nonresidential construction. The company is structured into three segments: North America Steel Group, Europe Steel Group, and Emerging Businesses Group.

CMC prides itself on an innovative approach, utilizing advanced technologies and sustainable practices. The company's recent achievements include the launch of the Arizona 2 micro mill, which became the first micro mill globally to produce merchant bar quality steel, and significant structural realignment to better reflect its diverse offerings.

Financially, CMC reported net earnings of $176.3 million on sales of $2.0 billion for the first quarter of fiscal 2024. Despite global challenges, the company maintains a robust balance sheet with $704.6 million in cash equivalents and strong liquidity exceeding $1.5 billion.

CMC is committed to sustainability, with a focus on recycled metal usage and responsible manufacturing processes. The company's products support a wide range of construction applications, including infrastructure, industrial, residential, and energy sectors.

Recent strategic moves include the integration of new acquisitions, an increase in stock repurchase authorization, and a continued focus on growth investments.

CMC's people-centric culture underscores its operational philosophy, emphasizing safety, consistency, and excellence. For more information, visit their website at www.cmc.com.

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Commercial Metals Company (NYSE: CMC) has been recognized on USA TODAY's America's Best Climate Leaders 2024 list. This award, announced on May 30, 2024, by USA TODAY and Statista Inc., honors U.S. companies with significant year-over-year reductions in emissions intensity. CMC's President and CEO, Peter R. Matt, highlighted the company's longstanding commitment to sustainability and environmentally friendly steelmaking. The firm's sustainability report can be accessed for more details on their environmental efforts.

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Commercial Metals Company (NYSE: CMC) announced a live webcast of its third-quarter fiscal 2024 earnings release, scheduled for June 20, 2024, at 11:00 a.m. Eastern Time. The call will feature President and CEO Peter Matt, along with Senior Vice President & CFO Paul Lawrence. Interested parties can access the webcast via CMC's website.

CMC is a global provider of innovative construction and infrastructure solutions, with manufacturing operations in the U.S. and Central Europe. The company supports a wide range of construction applications including infrastructure, non-residential, residential, industrial, and energy sectors.

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Commercial Metals Company (CMC) reported strong financial results in Q2 with net earnings of $85.8 million and core EBITDA of $224.4 million. Downstream contract awards rebounded, and North America and Europe Steel Groups improved cost performance. CMC announced a quarterly dividend increase of 13% and maintained a strong balance sheet with $638.3 million in cash.
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Commercial Metals Company (CMC) has declared a 13% increase in its regular quarterly cash dividend to $0.18 per share, showcasing confidence in its financial position and business outlook. The 238th consecutive dividend will be paid on April 10, 2024, benefiting stockholders.
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Commercial Metals Company (CMC) announces its second quarter earnings release for fiscal 2024 along with a conference call featuring top executives Peter Matt and Paul Lawrence.
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Commercial Metals Company (NYSE: CMC) appoints Dennis V. Arriola, a seasoned professional with over 40 years of experience in the energy industry, to its Board of Directors. Arriola's background includes leadership roles at Avangrid, Inc., Sempra, and SunPower Corporation, bringing valuable insights to CMC's sustainability efforts and global expansion. His appointment increases the board to ten members, with a focus on enhancing the company's reinforcement solutions for construction markets.
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Commercial Metals Company (CMC) announced an increase of $500 million to its existing common stock repurchase program, bringing the aggregate capacity to $850 million. Approximately $310 million of the Company's common stock has been repurchased since October 2021. The move reflects a well-balanced capital allocation strategy supported by strong earnings capability and cash flow profile. CMC intends to repurchase shares from time to time for cash in open market transactions or in privately-negotiated transactions in accordance with applicable federal securities laws.
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Commercial Metals Company (CMC) (NYSE: CMC) to be featured in Season Two of REPURPOSED, a travel-adventure docuseries premiering on January 10, 2024. The series, available on Amazon Prime Video and YouTube, highlights CMC's role in the construction industry, sustainable steelmaking processes, and advanced technologies. The program features interviews with CMC's executive leadership team and experts from across the CMC family.
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Commercial Metals Company (NYSE: CMC) announced first-quarter net earnings of $176.3 million, or $1.49 per diluted share, with consolidated core EBITDA of $325.3 million and free cash flow of $194.1 million. Despite a decrease in net sales compared to the prior year, the company remains optimistic about future growth and shareholder value.
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Commercial Metals Company (CMC) Declares Regular Quarterly Dividend of $0.16 per Share
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FAQ

What does Commercial Metals Company (CMC) do?

CMC operates steel mills, steel fabrication plants, and metal recycling facilities, producing rebar and structural steel for the construction sector.

How long has CMC been in the metals industry?

CMC has been a leader in the metals industry for over 100 years.

What are the main business segments of CMC?

CMC's main business segments are North America Steel Group, Europe Steel Group, and Emerging Businesses Group.

What recent achievements has CMC made?

Recent achievements include the launch of the Arizona 2 micro mill and significant realignment of its reporting structure to better reflect diverse offerings.

What is CMC's approach to sustainability?

CMC focuses on using recycled metal and sustainable manufacturing processes to support a stronger, safer, and more sustainable world.

What financial condition does CMC report?

CMC reported net earnings of $176.3 million on sales of $2.0 billion for the first quarter of fiscal 2024, with cash equivalents of $704.6 million and strong liquidity over $1.5 billion.

What is the significance of the Arizona 2 micro mill?

The Arizona 2 micro mill is the first in the world to produce merchant bar quality steel, marking a significant technological advancement for CMC.

How does CMC support the construction sector?

CMC produces steel products crucial for infrastructure, non-residential, residential, industrial, and energy generation and transmission applications.

What recent structural changes has CMC implemented?

CMC has realigned its reporting structure and integrated new acquisitions to better reflect its diverse product offerings and strategic priorities.

Where can I find more information about CMC?

More information can be found on CMC’s official website at www.cmc.com.

Commercial Metals Company

NYSE:CMC

CMC Rankings

CMC Stock Data

5.83B
114.69M
0.73%
88.95%
2.09%
Iron and Steel Mills and Ferroalloy Manufacturing
Manufacturing
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United States of America
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