Commercial Metals Company (CMC) (CMC) Q4 FY2026 earnings

Reported results

• Fiscal 2026 GAAP net earnings: $655.8 million; fiscal 2025 GAAP net earnings: $84.7 million
• Consolidated core EBITDA (non-GAAP) for fiscal 2026: $1.4 billion, up from $837.3 million in fiscal 2025; core EBITDA margin (non-GAAP) increased 380 basis points to 14.5%
• Fourth quarter GAAP net earnings: $212.5 million or $1.91 per diluted share, up 40.0% year-over-year; adjusted earnings (non-GAAP): $233.6 million or $2.09 per diluted share, up 52.6% year-over-year
• Fourth quarter consolidated core EBITDA (non-GAAP): $393.7 million, up 35.1% year-over-year; core EBITDA margin (non-GAAP) increased 100 basis points to 14.8%
• North America Steel Group fourth quarter adjusted EBITDA (non-GAAP): $317.5 million, up 32.6% year-over-year; adjusted EBITDA margin (non-GAAP) increased to 16.4% from 14.8%
• Construction Solutions Group fourth quarter net sales: $431.4 million, up 94.5% year-over-year; adjusted EBITDA (non-GAAP): $101.7 million, up 100.9% year-over-year; adjusted EBITDA margin (non-GAAP): 23.6%, up 80 basis points

Guidance

• First quarter fiscal 2027: North America Steel Group adjusted EBITDA (non-GAAP) expected to be nearly flat compared to fourth quarter due to improved pricing largely offsetting higher scrap costs, startup expenses, and seasonal decline in shipments
• First quarter fiscal 2027: Construction Solutions Group adjusted EBITDA (non-GAAP) expected to be down sequentially reflecting typical seasonal trends
• First quarter fiscal 2027: Europe Steel Group expected to show meaningful sequential growth in adjusted EBITDA (non-GAAP) with benefits from improving operating conditions and CO₂ credit

Notes

Net leverage adjusted for acquisitions (non-GAAP) ended at 1.9x. The company completed acquisitions of Foley Products Company, LLC and Concrete Pipe and Precast, LLC (referred to as precast acquisitions). The release states precast adjusted EBITDA fell below management expectations in Q4 due to regional residential softness. Modified consolidated EBITDA calculation includes $15.4 million adjustment for litigation-related interest expense, eliminates precast actual results since acquisition dates, and includes $212 million annualized precast EBITDA contribution. The company declared a quarterly dividend of $0.20 per share. Cash, cash equivalents and restricted cash totaled $778.9 million as of August 31, 2026.

Price and volatility reaction

The stock moved +0.1% on the print. No front-expiry chain was on file, so there is no straddle expected move. 30-day ATM implied volatility moved -7.0 vol points across the event (constant-maturity series — not the front-week crush).

Source

The figures above come from the earnings release the company filed with the SEC on 2026-10-15 (8-K, Item 2.02). Read the original filing on sec.gov.