Welcome to our dedicated page for Commercial Metals news (Ticker: CMC), a resource for investors and traders seeking the latest updates and insights on Commercial Metals stock.
Commercial Metals Company reports news on its steel and construction-solutions operations for infrastructure, non-residential, residential, industrial and energy markets. The company manufactures steel reinforcing bar, merchant bar, steel fence posts and wire rod, and supplies subgrade soil stabilization, foundation enhancement, concrete pipe and precast products through a manufacturing network concentrated in the United States and Central Europe, with additional operations in the United Kingdom, Europe and Asia.
Recurring CMC updates include quarterly earnings, steel product pricing and margin trends, Construction Solutions Group activity, completed precast acquisitions and integration, dividend declarations, board and governance changes, sustainability recognition and trade matters affecting rebar markets.
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.
Commercial Metals Company (NYSE: CMC) will host a conference call on October 14, 2021, at 11:00 a.m. Eastern Time to discuss its fourth quarter earnings for fiscal 2021. The call will feature Barbara Smith, Chairman, President & CEO, and Paul Lawrence, Vice President & CFO. Investors can access the live webcast via the company's website.
Commercial Metals operates seven electric arc furnace mini mills, micro mills, and recycling facilities across the U.S. and Poland, manufacturing and fabricating steel and metal products.
Commercial Metals Company (NYSE: CMC) announced the appointment of Gary E. McCullough to its Board of Directors, effective October 12, 2021. With over 30 years of experience, McCullough has held significant positions in various companies, including CEO of ARI Packaging and President of Career Education Corporation. He is currently on the board of TransDigm Group and will serve on the Compensation and Finance Committees at CMC. His extensive experience is expected to advance CMC's strategic goals amidst a competitive market.
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Commercial Metals Company (CMC) reported strong financial results for the fiscal third quarter ending May 31, 2021, with earnings from continuing operations at $130.4 million, or $1.07 per diluted share, on net sales of $1.8 billion. This marks a significant increase from $64.2 million, or $0.53 per diluted share, on net sales of $1.3 billion in the previous year. The company achieved record adjusted EBITDA in North America of $207.3 million, up 30%, driven by increased demand and operational efficiencies. CMC declared a quarterly dividend of $0.12 per share, reaffirming its financial stability.
Commercial Metals Company (NYSE: CMC) has declared a quarterly cash dividend of $0.12 per share, payable on July 14, 2021, to shareholders on record by June 30, 2021. This marks the company's 227th consecutive quarterly dividend, showcasing its commitment to returning value to shareholders. CMC operates a robust network of facilities, including seven electric arc furnace mini mills and recycling plants, primarily in the U.S. and Poland.
Commercial Metals Company (NYSE: CMC) will hold a live conference call on June 17, 2021, at 11:00 a.m. Eastern Time to discuss its third quarter earnings for fiscal 2021. The call will feature Barbara Smith, Chairman, President & CEO, and Paul Lawrence, Vice President & CFO. Investors can access the call via webcast on the company's website. Commercial Metals operates facilities including seven electric arc furnace mini mills and metal recycling operations across the US and Poland.
Commercial Metals Company (NYSE: CMC) announced participation in the BofA Securities virtual Global Metals, Mining & Steel Conference on May 19, 2021. CEO Barbara Smith will speak at 2:20 p.m. ET for approximately 30 minutes. The event will connect industry leaders and investors globally. A live webcast, along with a replay, will be available on the CMC website. The company operates numerous facilities, including mini mills and recycling centers, across the U.S. and Poland.
Commercial Metals Company (NYSE: CMC) has received an operating air permit from the Maricopa County Air Quality Department on April 23, enabling the construction of its third micro mill, named Arizona 2, at the Mesa, Arizona site. This project will be the first micro mill globally to produce both merchant bar and rebar. The facility will utilize environmentally friendly steelmaking technology and connect to an on-site renewable energy source, enhancing energy efficiency and reducing emissions. Commissioning is expected in spring 2023.