Welcome to our dedicated page for Commercial Metals Co news (Ticker: CMC), a resource for investors and traders seeking the latest updates and insights on Commercial Metals Co stock.
Commercial Metals Company (CMC) provides steel products and recycling solutions for global construction markets. This page aggregates official CMC news and press releases, offering stakeholders a centralized resource for tracking corporate developments.
Access timely updates on earnings reports, strategic initiatives, and sustainability efforts, including innovations like micro mill expansions. The curated collection spans operational milestones, regulatory compliance updates, and market positioning changes.
Key content categories include financial performance disclosures, acquisition announcements, and progress reports on the TAG efficiency program. Bookmark this page for streamlined access to CMC's evolving role in sustainable steel production and infrastructure development.
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.
Commercial Metals Company (NYSE: CMC) has announced a definitive agreement to acquire TAC Acquisition Corp. (Tensar) for $550 million. The transaction is aimed at enhancing CMC's leadership in construction reinforcement, leveraging Tensar's engineered solutions for subgrade reinforcement and soil stabilization. The deal, valued at 8.4x Tensar's expected 2021 EBITDA, includes anticipated cost synergies of approximately $5 million. The acquisition is expected to support CMC's growth strategy and strengthen its market position in the construction sector.
Commercial Metals Company (NYSE: CMC) reported robust financial results for its fiscal fourth quarter ending August 31, 2021. The company earned $152.3 million, or $1.24 per diluted share, on net sales of $2.0 billion, significantly up from $67.8 million and $1.4 billion year-over-year. For the full year, earnings totaled $412.9 million, a notable increase from $278.3 million the previous year. The board announced a 17% dividend increase, reflecting confidence in the company's future. Strong operational performance was highlighted by record shipment levels and significant growth in the North American and European segments.
Commercial Metals Company (NYSE: CMC) has announced a new $350 million stock repurchase program, replacing the previous plan with $27 million remaining. Additionally, the board declared a quarterly cash dividend of $0.14 per share, marking a 17% increase. This dividend will be paid on November 10, 2021, to shareholders of record as of October 27, 2021. CEO Barbara R. Smith emphasized that this reflects a balance between growth investments and shareholder returns.
Commercial Metals Company (NYSE: CMC) has announced an agreement to sell land from its former Steel California and Rebar Etiwanda operations in Rancho Cucamonga for approximately $300 million. The sale aims to partially fund the new Arizona 2 micro mill expected to launch in the second half of fiscal 2023. CMC ceased Steel California operations in December 2020, and Rebar Etiwanda customers will be served from other locations. The transaction is anticipated to close in Q2 of fiscal 2022, pending due diligence and customary conditions.
Commercial Metals Company (NYSE: CMC) will be featured on the September 26 edition of EARTH with John Holden, which airs on Fox Business Network, Bloomberg TV, and BNN Bloomberg Canada. The segment highlights CMC's commitment to sustainability in steelmaking, showcasing their facility in Mesa, Arizona, known for its 87% lower energy intensity and 66% reduced greenhouse gas emissions compared to global averages. CEO Barbara Smith expressed pride in representing eco-friendly American Electric Arc Furnace steelmakers.
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