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) reported Q3 fiscal 2020 earnings of $64.2 million ($0.53 per diluted share) on net sales of $1.3 billion, down from $78.6 million ($0.66 per share) on $1.6 billion in revenue a year earlier. Adjusted earnings were $70.4 million ($0.59 per share), below last year's $0.67. A $6.2 million charge was incurred for facility closures. The company declared a quarterly dividend of $0.12 per share. Despite challenges from COVID-19, CMC achieved sequential earnings growth and maintained a strong liquidity position with $462.1 million in cash and equivalents.
On June 16, 2020, Commercial Metals Company (NYSE: CMC) announced a quarterly cash dividend of $0.12 per share, reflecting its 223rd consecutive quarterly dividend. The dividend is payable to stockholders of record by July 6, 2020, with payment scheduled for July 20, 2020. This decision highlights CMC's commitment to returning value to its shareholders. The company operates numerous facilities, including electric arc furnace mini mills and recycling plants across the United States and Poland.