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) 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.
Commercial Metals Company (CMC) reported financial results for Q2 FY2021, achieving earnings from continuing operations of $66.2 million ($0.54 per share) on $1.5 billion in net sales, outperforming the previous year’s earnings of $63.6 million ($0.53 per share) on $1.3 billion in sales. Excluding one-time charges, adjusted earnings rose to $79.8 million ($0.66 per share). The North America segment saw a 12% increase in adjusted EBITDA, driven by efficient cost management and strong rebar demand. Despite challenges from rising scrap costs, liquidity remained strong with $367.3 million in cash. A quarterly dividend of $0.12 per share was declared.
On March 17, 2021, Commercial Metals Company (NYSE: CMC) announced a quarterly cash dividend of $0.12 per share, marking the 226th consecutive quarterly dividend. The dividend is to be paid on April 14, 2021, to shareholders on record as of March 31, 2021. This decision highlights CMC's ongoing commitment to returning income to its shareholders amidst its operations in manufacturing, recycling, and fabricating steel and metal products across various facilities in the U.S. and Poland.
Commercial Metals Company (NYSE: CMC) will host a conference call on March 18, 2021, at 11:00 a.m. Eastern Time to discuss its second quarter earnings for fiscal 2021. The call will be led by Barbara Smith, Chairman, President & CEO, and Paul Lawrence, Vice President & CFO. The call can be accessed via webcast on the company's website. CMC operates multiple manufacturing and recycling facilities for steel and metal products across the U.S. and Poland.