Welcome to our dedicated page for Commercial Metals Company news (Ticker: CMC), a resource for investors and traders seeking the latest updates and insights on Commercial Metals Company stock.
Commercial Metals Company (NYSE: CMC) is a leading player in the metals industry, operating steel mills, steel fabrication plants, and metal recycling facilities primarily in the United States and Europe. With a legacy of over 100 years, CMC produces rebar and structural steel critical to nonresidential construction. The company is structured into three segments: North America Steel Group, Europe Steel Group, and Emerging Businesses Group.
CMC prides itself on an innovative approach, utilizing advanced technologies and sustainable practices. The company's recent achievements include the launch of the Arizona 2 micro mill, which became the first micro mill globally to produce merchant bar quality steel, and significant structural realignment to better reflect its diverse offerings.
Financially, CMC reported net earnings of $176.3 million on sales of $2.0 billion for the first quarter of fiscal 2024. Despite global challenges, the company maintains a robust balance sheet with $704.6 million in cash equivalents and strong liquidity exceeding $1.5 billion.
CMC is committed to sustainability, with a focus on recycled metal usage and responsible manufacturing processes. The company's products support a wide range of construction applications, including infrastructure, industrial, residential, and energy sectors.
Recent strategic moves include the integration of new acquisitions, an increase in stock repurchase authorization, and a continued focus on growth investments.
CMC's people-centric culture underscores its operational philosophy, emphasizing safety, consistency, and excellence. For more information, visit their website at www.cmc.com.
Commercial Metals Company (CMC) has declared a quarterly cash dividend of $0.12 per share, marking its 225th consecutive quarterly dividend. The dividend is payable to shareholders of record by the close of business on January 21, 2021, with payment scheduled for February 4, 2021. This regular dividend reflects the company's ongoing commitment to returning value to shareholders while maintaining its strong financial position.
Commercial Metals Company (NYSE: CMC) announced that CMC Steel Arizona has started receiving renewable energy from the Salt River Project's new "Saint Solar" plant in Arizona. This partnership is part of SRP's Sustainable Energy program, initiated in 2018. CMC Steel Arizona, utilizing scrap-based Electric Arc Furnace technology, is recognized as one of the most efficient steel mills globally, using 98% recycled material and significantly lowering emissions. Additionally, CMC plans to build its third micro mill, AZ2, featuring advanced technology to enhance energy efficiency.
Commercial Metals Company (NYSE: CMC) is set to release its first-quarter earnings for fiscal 2021 on January 11, 2021, at 11:00 a.m. ET. The event will feature insights from Barbara Smith, Chairman, President & CEO, and Paul Lawrence, Vice President & CFO. Interested parties can access the teleconference via webcast on the company’s official website. CMC specializes in manufacturing, recycling, and fabricating steel and metal products across the U.S. and Poland, operating a diverse range of mills and facilities.
Commercial Metals Company (CMC) announced its fiscal fourth quarter and annual results for 2020, reporting earnings from continuing operations of $67.8 million, or $0.56 per diluted share, down from $85.9 million, or $0.72 per diluted share, in the previous year. Full-year earnings increased to $278.3 million, or $2.31 per diluted share. Net after-tax charges for the quarter were $27.5 million. The company declared a quarterly dividend of $0.12 per share. Adjusted EBITDA for North America reached $174.2 million, while Europe reported $22.9 million, boosted by carbon credits. CMC anticipates seasonal trends affecting future volumes.
Commercial Metals Company (NYSE: CMC) has declared a quarterly cash dividend of $0.12 per share, marking its 224th consecutive quarterly dividend. This dividend will be payable to stockholders of record as of October 29, 2020, with payment set for November 13, 2020. CMC operates a network of facilities, including electric arc furnace mini mills and metal recycling plants in the U.S. and Poland, focusing on the manufacture and recycling of steel and metal products.
Commercial Metals Company (NYSE: CMC) announced a realignment of its reporting structure to include two operating segments: North America and Europe, effective from Q4 fiscal 2020. This change reflects the company's vertically integrated model and is designed to enhance performance assessment and resource allocation. The realignment involves combining previously separate segments without affecting consolidated results. CEO Barbara R. Smith emphasized that this structure provides better insight into CMC's value creation. No financial results were altered by this change.
Commercial Metals Company (NYSE: CMC) is set to release its fourth quarter earnings for fiscal 2020 on October 15, 2020. A live conference call will occur at 11:00 a.m. Eastern Time, featuring Barbara Smith, Chairman & CEO, and Paul Lawrence, Vice President & CFO. Investors can access the webcast via the company’s website. Commercial Metals Company operates seven EAF mini mills, two EAF micro mills, and various recycling facilities across the U.S. and Poland, focusing on the manufacture, recycling, and fabrication of steel and metal products.
Commercial Metals Company (NYSE: CMC) announced plans to build its third micro mill in Mesa, Arizona, with an investment of approximately $300 million. This facility will be the first globally to produce merchant bar quality products through a continuous-continuous production process, aiming to meet West Coast demand for rebar and merchant bar. The new micro mill is expected to create approximately 185 jobs and achieve an annual capacity of 500,000 tons, including 150,000 tons of merchant product, while generating nearly $500 million in economic activity.
Commercial Metals Company (NYSE: CMC) announced a virtual Investor Day scheduled for August 13, 2020, starting at 8:30 am ET. CEO Barbara Smith and the leadership team will outline the Company's strategic growth plans. Smith emphasized the significant transformation CMC has undergone to ensure continued growth. Key presenters include high-level executives such as Brad Cottrell and Paul Lawrence. The event will be accessible via webcast on CMC's website and will be archived for later listening.
On July 21, 2020, Commercial Metals Company (NYSE: CMC) announced the acquisition of AZZ's Continuous Galvanized Rebar business, including all assets related to its GalvaBar product. GalvaBar, produced in Tulsa, Oklahoma, features a zinc alloy coating that offers enhanced corrosion protection and formability. This acquisition aligns with CMC's strategy to lead in concrete reinforcement and expand its product offerings. Tracy Porter, COO, stated the acquisition would enhance customer service and leverage CMC's distribution network for broader market reach.
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