Commercial Metals Company is a leading manufacturer and recycler of metal products, primarily serving the construction, industrial, and automotive markets
The company operates facilities that produce a wide range of steel and metal goods, including rebar and wire, while also engaging in the recycling of scrap metal to promote sustainability and resource efficiency. With a strong focus on innovation and quality, Commercial Metals Company works to meet the evolving needs of its customers through efficient production processes and a commitment to delivering high-performance materials.
CMC reports strong Q1 sales of $1.91B, beating consensus of $1.873B. Core EBITDA drops to $210.7M, adjusted EPS misses at $0.78. North America demand strong, Europe weak. Quarterly dividend of $0.18 declared. Expecting temporary weakness in construction activity, but confident in long-term prospects.
Steel is a foundational building material and a major market commodity with important taxing rules and import guidelines, the enforcement of which benefits economic advancement and safeguards the nation's infrastructure.
