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) has successfully completed the redemption of all its 5.750% Senior Notes due 2026, following a cash tender offer. A total of approximately $272.2 million in principal was redeemed for around $287.5 million, including interest, on February 19, 2021. Additionally, approximately $77.8 million in total principal was tendered and repurchased. CMC operates in the steel and metal products sector, manufacturing and recycling through various facilities in the U.S. and Poland.
Commercial Metals Company (NYSE: CMC) announced with deep sadness the passing of Richard B. "Rick" Kelson on February 13, 2021. Kelson served on the Board of Directors for eleven years, including five years as lead director, and was recognized for his exceptional leadership and guidance. Barbara Smith, CMC's CEO, expressed condolences to Kelson's family. Known for his extensive career at Alcoa and various board roles, Kelson's impact on CMC will be remembered. In his honor, CMC will donate to the Penn Center for Research on Coronavirus.
Commercial Metals Company (NYSE: CMC) announced the results of its cash Tender Offer for all outstanding 5.750% Senior Notes due 2026, with a deadline of February 16, 2021. As of February 1, 2021, $77.77 million in notes were tendered. The company also completed a $300 million offering of 3.875% Senior Notes due 2031 to fund this tender. The early settlement date is set for February 3, 2021. Any remaining notes not repurchased in the tender will be redeemed on February 19, 2021. The tender offer is subject to specific conditions outlined in the Offer to Purchase.
Commercial Metals Company (NYSE: CMC) announced the sale of $300 million in 3.875% Senior Notes due 2031. The offering is expected to close around February 2, 2021, pending standard conditions. Proceeds will be used alongside cash on hand for a tender offer for outstanding 5.750% Senior Notes due 2026 and to redeem any remaining notes post-offer. Citigroup is leading the underwriting of the offering, which is conducted under an SEC registration statement. The announcement includes forward-looking statements regarding the offering and market conditions affecting operations.
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.