Commercial Metals Co Stock Price, News & Analysis

Commercial Metals Company (CMC) announced a proposed offering of $300 million in senior notes as part of an underwritten public offering. The funds will be used to finance a tender offer for its existing 5.750% senior notes due 2026 and to redeem any notes not repurchased. Citigroup and other financial institutions are managing the offering under an effective registration statement with the SEC. The tender offer and redemption are conditional and detailed in the company’s official documents. CMC operates in steel and metal manufacturing across the U.S. and Poland.

Commercial Metals Company (NYSE: CMC) announced a cash tender offer for its outstanding 5.750% Senior Notes due 2026. The offer expires on February 16, 2021, with an early tender deadline on February 1, 2021. Holders can receive total consideration of $1,037.50 per $1,000 principal for notes tendered early. The tender offer is contingent on completing a satisfactory financing transaction. A conditional notice of full redemption will also be issued for any remaining 2026 Notes. This press release is not a recommendation to tender the notes.

Commercial Metals Company (NYSE: CMC) reported fiscal Q1 2021 earnings of $63.9 million, or $0.53 per share, on net sales of $1.4 billion, down from $82.8 million or $0.69 per share in the same period last year. After accounting for $5.9 million in charges, adjusted earnings were $69.8 million, or $0.58 per share. The North America segment saw adjusted EBITDA drop to $155.6 million from $174.7 million due to rising scrap costs, despite a 2% increase in rebar shipments. The company maintains a strong liquidity position with $465.2 million in cash.

Commercial Metals Company (CMC) has declared a quarterly cash dividend of $0.12 per share, marking its 225th consecutive quarterly dividend. The dividend is payable to shareholders of record by the close of business on January 21, 2021, with payment scheduled for February 4, 2021. This regular dividend reflects the company's ongoing commitment to returning value to shareholders while maintaining its strong financial position.

Commercial Metals Company (NYSE: CMC) announced that CMC Steel Arizona has started receiving renewable energy from the Salt River Project's new "Saint Solar" plant in Arizona. This partnership is part of SRP's Sustainable Energy program, initiated in 2018. CMC Steel Arizona, utilizing scrap-based Electric Arc Furnace technology, is recognized as one of the most efficient steel mills globally, using 98% recycled material and significantly lowering emissions. Additionally, CMC plans to build its third micro mill, AZ2, featuring advanced technology to enhance energy efficiency.

Commercial Metals Company (NYSE: CMC) is set to release its first-quarter earnings for fiscal 2021 on January 11, 2021, at 11:00 a.m. ET. The event will feature insights from Barbara Smith, Chairman, President & CEO, and Paul Lawrence, Vice President & CFO. Interested parties can access the teleconference via webcast on the company’s official website. CMC specializes in manufacturing, recycling, and fabricating steel and metal products across the U.S. and Poland, operating a diverse range of mills and facilities.

Commercial Metals Company (CMC) announced its fiscal fourth quarter and annual results for 2020, reporting earnings from continuing operations of $67.8 million, or $0.56 per diluted share, down from $85.9 million, or $0.72 per diluted share, in the previous year. Full-year earnings increased to $278.3 million, or $2.31 per diluted share. Net after-tax charges for the quarter were $27.5 million. The company declared a quarterly dividend of $0.12 per share. Adjusted EBITDA for North America reached $174.2 million, while Europe reported $22.9 million, boosted by carbon credits. CMC anticipates seasonal trends affecting future volumes.

Commercial Metals Company (NYSE: CMC) has declared a quarterly cash dividend of $0.12 per share, marking its 224th consecutive quarterly dividend. This dividend will be payable to stockholders of record as of October 29, 2020, with payment set for November 13, 2020. CMC operates a network of facilities, including electric arc furnace mini mills and metal recycling plants in the U.S. and Poland, focusing on the manufacture and recycling of steel and metal products.

Commercial Metals Company (NYSE: CMC) announced a realignment of its reporting structure to include two operating segments: North America and Europe, effective from Q4 fiscal 2020. This change reflects the company's vertically integrated model and is designed to enhance performance assessment and resource allocation. The realignment involves combining previously separate segments without affecting consolidated results. CEO Barbara R. Smith emphasized that this structure provides better insight into CMC's value creation. No financial results were altered by this change.