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 earned a spot on Newsweek's list of America's Most Responsible Companies 2025, marking its third consecutive year receiving this recognition. The award, presented in collaboration with Statista Inc., acknowledges CMC's commitment to corporate responsibility.
Peter R. Matt, President and CEO, highlighted the company's dedication to employee care, environmental stewardship, and community impact. CMC operates primarily in the United States and Central Europe, providing innovative solutions and products for the global construction sector's reinforcement needs. Their solutions support various construction applications, including infrastructure, non-residential, residential, industrial, and energy projects.
Commercial Metals Company (NYSE: CMC) received an unfavorable jury verdict in the Pacific Steel Group v. Commercial Metals Co. litigation. Pacific Steel Group's lawsuit alleged various restraints on trade by CMC. The trial, which began on October 21st and concluded on November 5th, 2024, resulted in a $110 million verdict in favor of Pacific Steel. This amount will be trebled as per law, plus attorneys' fees. CMC expressed disappointment with the outcome and plans to appeal the verdict, asserting the integrity of its business practices.
Commercial Metals Company (NYSE: CMC) reported financial results for Q4 and full fiscal year 2024. Key highlights include:
- Q4 net earnings: $103.9 million ($0.90 per diluted share)
- Full-year net earnings: $485.5 million ($4.14 per diluted share)
- Q4 consolidated core EBITDA: $227.1 million (11.4% margin)
- Strong cash flow from operations: $351.8 million in Q4, $899.7 million for FY2024
- Cash distributions to shareholders: $261.8 million in FY2024 (48% increase YoY)
The company faced challenges due to macroeconomic uncertainty, impacting steel product pricing and margins. However, CMC made progress on its Transform, Advance, Grow (TAG) initiative and maintained a strong balance sheet with $857.9 million in cash and cash equivalents.
Commercial Metals Company (NYSE: CMC) has declared a regular quarterly cash dividend of $0.18 per share of CMC common stock on October 15, 2024. This marks CMC's 240th consecutive quarterly dividend. The dividend will be paid on November 14, 2024, to stockholders of record as of the close of business on October 31, 2024.
CMC is an innovative solutions provider in the global construction sector, offering products and technologies for critical reinforcement needs. The company's manufacturing network is primarily located in the United States and Central Europe, supporting construction across various applications including infrastructure, non-residential, residential, industrial, and energy generation and transmission.
Commercial Metals Company (NYSE: CMC) has appointed Kekin Ghelani as Senior Vice President, Chief Strategy Officer, effective October 1, 2024. In this role, Ghelani will be responsible for guiding the strategic direction of the company, driving long-term growth and M&A activity, leading integration efforts following future acquisitions, and ensuring alignment across all lines of business.
Ghelani brings extensive experience from previous roles, including Chief Strategy and Growth Officer at Summit Materials, Inc., and leadership positions at DuPont de Nemours, Inc., Celanese , McKesson , and Honeywell International. He holds an MBA from Emory University and a BS in Mechanical Engineering from the University of South Alabama.
Peter R. Matt, CMC's President and CEO, expressed confidence in Ghelani's capabilities to help drive the company's growth plan.
Commercial Metals Company (NYSE: CMC) has revised the time of its fourth quarter fiscal 2024 earnings conference call to 10:00 a.m. Eastern Time (9:00 a.m. Central) on Thursday, October 17, 2024. The call will be broadcast live over the Internet and will feature Peter Matt, President and CEO, and Paul Lawrence, Senior Vice President and CFO. Investors can access the webcast in listen-only mode through CMC's website at www.cmc.com.
CMC is a solutions provider for the global construction sector, offering products and technologies for critical reinforcement needs. The company's manufacturing network is primarily located in the United States and Central Europe, supporting various construction applications including infrastructure, non-residential, residential, industrial, and energy generation and transmission projects.
Commercial Metals Company (NYSE: CMC) has announced details for its fourth quarter fiscal 2024 earnings conference call and webcast. The event is scheduled for Thursday, October 17, 2024, at 11:00 a.m. Eastern Time (10:00 a.m. Central). Peter Matt, President and CEO, and Paul Lawrence, Senior Vice President & CFO, will be presenting.
Investors and interested parties can access the live webcast through CMC's website at www.cmc.com. The company, headquartered in Irving, Texas, is a solutions provider for the global construction sector, offering products and technologies for reinforcement needs. CMC's manufacturing network is primarily located in the United States and Central Europe, serving various construction applications including infrastructure, non-residential, residential, industrial, and energy projects.
Commercial Metals Company (NYSE: CMC) has been recognized on TIME's inaugural list of America's Best Mid-Size Companies 2024. The award, presented by TIME and Statista Inc., identifies top-performing companies based on employee satisfaction, revenue growth, and sustainability transparency. Eligible companies operated in the United States and generated between $100 million and $10 billion in revenue in 2022 or 2023.
Peter R. Matt, President and CEO, expressed pride in the recognition, highlighting CMC's commitment to employee safety and growth opportunities. Founded in 1915, CMC focuses on responsible business practices while providing value to stakeholders, including over 13,000 employees, customers, communities, financial partners, and shareholders.
CMC is an innovative solutions provider in the global construction sector, offering products and technologies for critical reinforcement needs. The company's extensive manufacturing network is primarily located in the United States and Central Europe.
CMC Pictures has announced the global release of 'Decoded', a groundbreaking Chinese psychological thriller, on August 22, 2024. Directed by Chen Sicheng and featuring an international cast including Liu Haoran and John Cusack, the film is adapted from Mai Jia's award-winning novel. Set in the 1940s, it follows Rong Jinzhen, a mathematical prodigy thrust into the world of code-breaking.
The film blurs the lines between dreams and reality, exploring the high-stakes world of espionage with suspense and tension. 'Decoded' showcases breathtaking visuals and immersive soundscapes, setting a new benchmark for Chinese filmmaking. Initial screenings will take place in the US, Canada, Australia, New Zealand, the Netherlands, Belgium, and Luxembourg, with more regions to be announced.
Commercial Metals Company (NYSE: CMC) announced significant leadership changes. Barbara R. Smith will retire as Executive Chairman and from the Board on August 31, 2024. Robert S. Wetherbee, an independent director since March 2023, will become Chairman on September 1, 2024. Sarah E. Raiss will step down as Lead Director but remain on the Board. Vicki L. Avril-Groves will retire from the Board on August 31, 2024.
The company appointed Tandra Perkins to the Board, effective September 1, 2024. Perkins, currently Senior VP and Chief Digital and Administrative Officer at Phillips 66, brings nearly 30 years of multi-industry experience. The Board will decrease from ten to nine directors. These changes mark a significant transition in CMC's leadership structure.
