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) provides steel products and recycling solutions for global construction markets. This page aggregates official CMC news and press releases, offering stakeholders a centralized resource for tracking corporate developments.
Access timely updates on earnings reports, strategic initiatives, and sustainability efforts, including innovations like micro mill expansions. The curated collection spans operational milestones, regulatory compliance updates, and market positioning changes.
Key content categories include financial performance disclosures, acquisition announcements, and progress reports on the TAG efficiency program. Bookmark this page for streamlined access to CMC's evolving role in sustainable steel production and infrastructure development.
Commercial Metals Company (NYSE: CMC) has announced a cash tender offer to purchase up to $130 million of its 4.875% Senior Notes due 2023. The offer, which may be extended or terminated early, is set to expire on November 25, 2022. Holders tendering their notes by November 9, 2022, will receive a total consideration of $998.50 per $1,000 principal amount, including an early tender payment. The offer is subject to conditions and may be oversubscribed, leading to prorated purchases if needed.
Commercial Metals Company (CMC) reported strong financial results for Q4 fiscal 2022, with net earnings of $288.6 million ($2.40/share), up 89% from $152.3 million ($1.24/share) a year prior. Annual net earnings reached a record $1.2 billion. Core EBITDA for the quarter was $419.0 million, a 64% year-over-year increase. The company returned $106.3 million to shareholders through stock repurchases and announced a 14% dividend increase. Looking ahead, CMC expects strong demand in North America while acknowledging challenges in Europe.
On October 11, 2022, Commercial Metals Company (CMC) announced the declaration of a quarterly cash dividend of $0.16 per share, marking a 14% increase from the previous dividend of July 2022. This represents CMC's 232nd consecutive quarterly dividend. The dividend will be paid on November 10, 2022, to stockholders of record as of the close of business on October 27, 2022. CMC specializes in manufacturing, recycling, and fabricating steel and metal products across the U.S. and Poland.
Commercial Metals Company (NYSE: CMC) announced the acquisition of Advanced Steel Recovery, LLC (ASR) to enhance its growth in the Western U.S.. ASR, based in Southern California, processes approximately 300,000 tons of scrap annually, bolstering CMC's supply chain for its Arizona micro mills set to start in early 2023. This acquisition is expected to secure a reliable, cost-effective supply of ferrous scrap for CMC's operations, ensuring operational efficiency in a critical sector.
Commercial Metals Company (NYSE: CMC) will host a live conference call to discuss its fourth quarter earnings for fiscal 2022 on October 13, 2022, at 11:00 a.m. Eastern Time. The call features Barbara Smith, Chairman, President & CEO, and Paul Lawrence, Senior VP & CFO. The event will be accessible via the company’s website. CMC operates a network of facilities including seven electric arc furnace mini mills and is a leading provider of ground and soil stabilization solutions through its Tensar division, serving over 80 national markets.
On August 30, 2022, Commercial Metals Company (NYSE: CMC) announced the launch of RebarZero™, a pioneering line of rebar products featuring net-zero greenhouse gas emissions. This marks the industry's first product to offer a carbon-neutral profile throughout its production and delivery phases. CMC is also introducing net-zero steel across its mill product portfolio, including merchant bar and wire rods. CMC emphasizes its commitment to sustainability, stating that its products are manufactured using recycled scrap and efficient electric arc furnaces, significantly reducing greenhouse gas emissions compared to industry averages.
Commercial Metals Company (NYSE: CMC) reported outstanding fiscal Q3 results for the period ending May 31, 2022, with net earnings of $312.4 million or $2.54 per diluted share, a 140% increase from the previous year. Core EBITDA surged 110%, totaling $483.9 million, supported by strong operational performance in North America and Europe. The company completed the acquisition of Tensar Corporation, contributing positively to growth. A quarterly dividend of $0.14 per share was declared, marking a 17% increase year-over-year.
The board of directors of Commercial Metals Company (NYSE: CMC) has declared a quarterly cash dividend of $0.14 per share. This marks CMC's 231st consecutive quarterly dividend. The dividend will be paid on July 13, 2022, to shareholders of record as of June 29, 2022. CMC specializes in manufacturing, recycling, and fabricating steel and metal products across various facilities in the U.S. and Poland. The company also leads in ground and soil stabilization solutions through its Tensar division.
Commercial Metals Company (CMC) will host its third quarter fiscal 2022 earnings conference call on June 16, 2022, at 11:00 a.m. Eastern Time. The call will feature CEO Barbara Smith and CFO Paul Lawrence. Investors can access the call via webcast on the company's website. CMC manufactures, recycles, and fabricates steel and metal products across the U.S. and Poland, operating several electric arc furnace mini mills and its Tensar division, which specializes in ground and soil stabilization solutions.
Castle Harlan has completed the sale of Tensar Corporation to Commercial Metals Company (NYSE: CMC) for $550 million, subject to adjustments. Tensar, a leader in geogrid products and foundation improvement technologies, was under Castle Harlan's management for seven years, during which it expanded globally and introduced innovative products. This transaction highlights Castle Harlan's successful investment strategy in middle-market companies, contributing positively to the ongoing growth and infrastructure needs worldwide.
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