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) is a New York Stock Exchange–listed manufacturer in the iron and steel mills and ferroalloy manufacturing industry that focuses on steel products, metal recycling and construction reinforcement solutions. Company news provides insight into how CMC manages its operations, finances and growth strategy across its North America Steel Group, Europe Steel Group and Construction Solutions Group.
Recent CMC news releases highlight quarterly earnings results, including updates on net earnings, adjusted earnings and core EBITDA, as well as commentary on demand trends for steel products and downstream construction activity. Management uses these updates to discuss market conditions in North America and Europe, the performance of segments such as the Construction Solutions Group, and the progress of its Transform, Advance, and Grow ("TAG") program, which is aimed at improving margins and earnings power.
CMC’s news flow also covers corporate actions and financing activities. The company has announced the completion of acquisitions of Concrete Pipe & Precast, LLC (CP&P) and Foley Products Company, LLC, which expand its presence in precast concrete and pipe products and establish what it describes as one of the largest precast concrete platforms in the United States. Other releases describe amendments to its revolving credit facility, the pricing and closing of senior notes offerings, and the intended use of proceeds to fund acquisitions and general corporate purposes.
Investors following CMC news can also see updates on dividends, including the declaration of a regular quarterly cash dividend that the company notes represents its 245th consecutive quarterly payment, as well as commentary on trade developments such as anti-dumping rulings affecting imported rebar. For those tracking CMC stock and the CMC ticker, the news stream offers ongoing context on operational execution, capital allocation and the company’s role in construction-related markets.
Commercial Metals Company (NYSE: CMC) reported outstanding fiscal Q3 results for the period ending May 31, 2022, with net earnings of $312.4 million or $2.54 per diluted share, a 140% increase from the previous year. Core EBITDA surged 110%, totaling $483.9 million, supported by strong operational performance in North America and Europe. The company completed the acquisition of Tensar Corporation, contributing positively to growth. A quarterly dividend of $0.14 per share was declared, marking a 17% increase year-over-year.
The board of directors of Commercial Metals Company (NYSE: CMC) has declared a quarterly cash dividend of $0.14 per share. This marks CMC's 231st consecutive quarterly dividend. The dividend will be paid on July 13, 2022, to shareholders of record as of June 29, 2022. CMC specializes in manufacturing, recycling, and fabricating steel and metal products across various facilities in the U.S. and Poland. The company also leads in ground and soil stabilization solutions through its Tensar division.
Commercial Metals Company (CMC) will host its third quarter fiscal 2022 earnings conference call on June 16, 2022, at 11:00 a.m. Eastern Time. The call will feature CEO Barbara Smith and CFO Paul Lawrence. Investors can access the call via webcast on the company's website. CMC manufactures, recycles, and fabricates steel and metal products across the U.S. and Poland, operating several electric arc furnace mini mills and its Tensar division, which specializes in ground and soil stabilization solutions.
Castle Harlan has completed the sale of Tensar Corporation to Commercial Metals Company (NYSE: CMC) for $550 million, subject to adjustments. Tensar, a leader in geogrid products and foundation improvement technologies, was under Castle Harlan's management for seven years, during which it expanded globally and introduced innovative products. This transaction highlights Castle Harlan's successful investment strategy in middle-market companies, contributing positively to the ongoing growth and infrastructure needs worldwide.
Commercial Metals Company (NYSE: CMC) has completed the acquisition of TAC Acquisition Corp. (Tensar) for $550 million, marking a significant growth milestone for the company. Tensar specializes in soil stabilization and reinforcement solutions, operating in over 80 markets with products like Tensar geogrids and Geopier systems. This acquisition is expected to enhance CMC's product offerings and market reach, welcoming 650 new employees to the company. Financial advisory was provided by Rockefeller Financial LLC, while Kirkland & Ellis LLP served as legal counsel for the transaction.
Commercial Metals Company (CMC) reported record earnings of $383.3 million, or $3.12 per diluted share, for the fiscal second quarter ended February 28, 2022, up from $66.2 million, or $0.54 per diluted share, in the prior year. Core EBITDA rose 89% year-over-year to $323.1 million. The company expects robust demand driven by a growing backlog and upcoming projects, including the acquisition of Tensar Corporation. Cash and equivalents increased to $846.6 million. CMC declared a quarterly dividend of $0.14 per share, marking a 17% increase from last year, with expectations for strong performance in the upcoming quarter.
On March 16, 2022, Commercial Metals Company (NYSE: CMC) declared a quarterly cash dividend of $0.14 per share, marking the company's 230th consecutive quarterly dividend. The dividend will be distributed on April 13, 2022, to shareholders on record as of March 30, 2022. CMC operates a network of facilities including seven electric arc furnace mini mills and recycling centers in the United States and Poland, focusing on steel and metal products.
Commercial Metals Company (NYSE: CMC) has successfully closed the sale of Exempt Facilities Revenue Bonds, totaling $145.1 million. The company raised $150.0 million in financing, which will fund the construction of its third micro mill in Mesa, Arizona. The bonds, yielding 3.5%, carry an interest rate of 4.0% and will mature in 2047. CMC is responsible for debt servicing and repayment as per its agreement with the Industrial Development Authority of Maricopa County (MCIDA).
Commercial Metals Company (NYSE: CMC) will host a live conference call on March 17, 2022, at 11:00 a.m. Eastern Time to discuss its second quarter earnings for fiscal 2022. The call will feature Barbara Smith, Chairman, President & CEO, and Paul Lawrence, Senior VP & CFO. Interested parties can listen via webcast on the company's website. Commercial Metals manufactures, recycles, and fabricates steel and metal products through various facilities in the U.S. and Poland.
Commercial Metals Company (CMC) has successfully redeemed all of its outstanding 5.375% Senior Notes due 2027, totaling approximately $314.9 million, including accrued interest of $1.3 million. The redemption was financed through part of the proceeds from a recent offering of $600 million in senior notes. Following this redemption, there are no remaining 2027 Notes outstanding. CMC operates facilities in the U.S. and Poland, focusing on the manufacturing and recycling of steel and metal products.