Commercial Metals Co Stock Price, News & Analysis

Commercial Metals Company (CMC) announced a $600 million offering of senior notes, consisting of $300 million in 4.125% Senior Notes due 2030 and $300 million in 4.375% Senior Notes due 2032. The offering size was increased from an initial $300 million. Proceeds will be used to redeem existing 5.375% senior notes due 2027 and for general corporate purposes. The offering is expected to close on or about January 28, 2022, subject to closing conditions. BofA Securities leads the underwriting team.

Commercial Metals Company (NYSE: CMC) announced a proposed offering of $300 million in senior notes, subject to market conditions. The net proceeds will be utilized for general corporate purposes. This offering falls under an effective shelf registration statement with the SEC. BofA Securities is leading the underwriting process with other banks involved. The press release also includes forward-looking statements cautioning investors about inherent risks and uncertainties related to the offering and the broader economic environment.

Commercial Metals Company (NYSE: CMC) announced plans to construct a new state-of-the-art micro mill aimed primarily at serving the Northeast, Mid-Atlantic, and Mid-Western U.S. markets. With a focus on environmentally friendly operations, the new facility will utilize advanced technology to reduce energy consumption and emissions. The project is expected to significantly enhance CMC's operational scale in the region. Anticipated state and local incentives, along with the recent Infrastructure Investment and Jobs Act, are expected to boost demand for construction steel. Construction will span approximately two years.

Commercial Metals Company (NYSE: CMC) reported a strong fiscal Q1 2022, with earnings from continuing operations of $232.9 million ($1.90 per diluted share) on net sales of $2.0 billion, compared to $63.9 million ($0.53 per diluted share) on $1.4 billion in Q1 2021. Adjusted earnings reached $199.2 million ($1.62 per diluted share). Core EBITDA hit record levels, totaling nearly $1.0 billion annually, driven by improved margins and operational efficiency. The company also announced a quarterly dividend increase of 17%. Strong demand and strategic growth initiatives underpin a positive outlook for fiscal 2022.

The board of directors of Commercial Metals Company (NYSE: CMC) has declared a quarterly cash dividend of $0.14 per share, marking its 229th consecutive quarterly dividend. This dividend will be paid on February 3, 2022, to stockholders of record as of the close of business on January 20, 2022. CMC operates through a network of facilities, including seven electric arc furnace mini mills and metal recycling facilities in the U.S. and Poland, focusing on manufacturing and recycling steel and metal products.

Commercial Metals Company (NYSE: CMC) has completed the sale of a large parcel of land in Rancho Cucamonga, California, generating gross proceeds of $313 million. This transaction, facilitated by Jones Lang LaSalle Brokerage, Inc., marks a significant financial move for the company. CMC specializes in manufacturing, recycling, and fabricating steel and metal products, supported by a diverse network of facilities across the United States and Poland.

Commercial Metals Company (NYSE: CMC) will host a conference call to discuss its first quarter earnings for fiscal 2022 on January 10, 2022, at 11:00 a.m. Eastern Time. The call will feature Chairman and CEO Barbara Smith and Senior VP and CFO Paul Lawrence. This live broadcast will be accessible via the company’s website. CMC operates a diverse network of facilities, including seven EAF mini mills, two micro mills, and metal recycling sites in the U.S. and Poland.

Tensar Corporation, a leader in geogrid engineered solutions, has entered into a definitive agreement to be acquired by Commercial Metals Company (NYSE: CMC). This acquisition aligns with CMC's strategy to enhance its position in the civil construction market, leveraging innovative manufacturing and sustainability practices. Tensar's 650 employees will join CMC, further bolstering their workforce. Regulatory approvals are pending, with the closing expected soon. This acquisition is anticipated to create a formidable platform for growth in engineered construction products.