Commercial Metals Company - CMC STOCK NEWS

Commercial Metals Company (NYSE: CMC) has chosen Berkeley County, West Virginia, for its fourth micro mill (MM4) project, with an estimated cost of $450 million. The mill aims for an annual production capacity of 500,000 tons and is expected to provide approximately 230 jobs. Operations are projected to start in late 2025. CMC highlights West Virginia's favorable business environment and skilled labor as key factors in their decision.

Commercial Metals Company (NYSE: CMC) has successfully acquired a metals recycling facility near Galveston from Kodiak Resources and Kodiak Properties. This facility processes approximately 55,000 tons of ferrous and non-ferrous materials annually, primarily supplying scrap grades for CMC's long product mills. The acquisition is expected to enhance CMC's supply chain, ensuring the provision of competitively priced materials for its steelmaking operations.

Commercial Metals Company (NYSE: CMC) reported that as of November 9, 2022, $115.87 million of its 4.875% Senior Notes due 2023 were tendered, representing 35.11% of the total. The company planned to accept this amount for payment on November 10, 2022, with a total consideration of $998.50 per $1,000 of notes accepted. The tender offer, set to expire on November 25, 2022, is part of a larger plan to repurchase up to $130 million in senior notes. Holders are advised to review the Offer to Purchase before making decisions.

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.