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.
The board of directors of Commercial Metals Company (NYSE: CMC) declared a quarterly cash dividend of $0.16 per share on March 21, 2023. This marks CMC's 234th consecutive quarterly dividend. The dividend payment is scheduled for April 12, 2023, to shareholders of record as of the close of business on April 3, 2023.
CMC operates multiple facilities, including seven electric arc furnace mini mills and metal recycling plants in the U.S. and Poland, providing steel and metal products, along with ground stabilization solutions through its Tensar operations.
On March 20, 2023, Commercial Metals Company (NYSE: CMC) announced its acquisition of Tendon Systems, LLC, a prominent provider of post-tensioning and concrete restoration solutions in the Southeastern U.S. This strategic purchase aims to enhance CMC's leadership in construction reinforcement and expands its capabilities in the post-tensioning market. Tendon reported revenues of approximately $60 million for 2022. CMC's CEO, Barbara R. Smith, emphasized that the acquisition brings valuable expertise and innovative products, which are expected to create significant commercial synergies for the company.
Carl Marks Securities LLC has announced its advisory role in the sale of Roane Metals Group, a scrap metal recycling company, to Commercial Metals Company (NYSE: CMC). The financial terms of the transaction remain undisclosed. Roane Metals, founded in 2004 and based in Rockwood, Tennessee, has successfully navigated pandemic-related supply chain challenges, increasing its processing volume annually. Despite ongoing price decreases in the scrap metal recycling industry, Carl Marks managed to secure the initial offer, reflecting its effective advisory capabilities.
On March 3, 2023, Commercial Metals Company (NYSE: CMC) announced the acquisition of Roane Metals Group LLC, a metal recycling company based in Tennessee. This acquisition includes all of Roane's assets, which have the capacity to process approximately 85,000 tons of ferrous and non-ferrous materials annually. The majority of the processed materials consist of obsolete ferrous scrap grades that will bolster CMC's steelmaking operations by enhancing the supply and security of competitively priced inputs.
Commercial Metals Company (NYSE: CMC) announced its upcoming conference call for the second quarter of fiscal 2023, set for March 23, 2023, at 11:00 a.m. Eastern Time. The call will feature Barbara Smith, Chairman, President & CEO, and Paul Lawrence, Senior VP & CFO. Investors can listen to the live broadcast on the company's website, www.cmc.com. CMC operates various manufacturing and recycling facilities across the U.S. and Poland, focusing on steel and metal products. The company also leads in innovative ground and soil stabilization solutions through its Tensar division.
The Board of Directors of Commercial Metals Company (NYSE: CMC) announced the appointment of Peter R. Matt as President, effective April 1, 2023. He succeeds Barbara R. Smith, who will continue as Chairman and CEO. Matt joined the Board in June 2020 and has extensive experience in the metals industry, previously serving as CFO of Constellium SE and holding leadership roles at Credit Suisse. Smith expressed confidence in Matt's leadership abilities, emphasizing that this succession is part of a strategic plan to strengthen the company's management.
Commercial Metals Company (NYSE: CMC) announced the appointment of Robert S. Wetherbee to its Board of Directors, effective March 21, 2023. Mr. Wetherbee brings over 40 years of industry experience, currently serving as CEO of ATI Inc. His past roles include leadership positions at Mineral Technologies and Alcoa. The appointment follows the retirement of J. David Smith on January 11, 2023, increasing the board's membership to nine, with eight independent directors. CMC aims to leverage Mr. Wetherbee's expertise in metals and mining to enhance its strategic direction and reinforce its position in the construction market.
Commercial Metals Company (CMC) reported a strong first quarter for fiscal 2023, with net earnings hitting $261.8 million ($2.20 per diluted share), a 12% increase year-over-year. Core EBITDA was $425.0 million, reflecting a 30% growth from the prior year. The North America segment saw improved performance with an adjusted EBITDA of $378.0 million, driven by strong demand and pricing. The company also announced strategic initiatives including a new micro mill in West Virginia and progress on the Arizona 2 project, slated for spring 2023 startup.
On January 5, 2023, Commercial Metals Company (NYSE: CMC) declared a quarterly cash dividend of $0.16 per share, marking its 233rd consecutive dividend. This dividend is set to be paid on February 2, 2023, to shareholders on record by the close of business on January 19, 2023. CMC operates in steel and metal production, recycling, and fabrication, with facilities in the U.S. and Poland and offers innovative ground and soil stabilization solutions worldwide.
FAQ
What is the current stock price of Commercial Metals Co (CMC)?
What is the market cap of Commercial Metals Co (CMC)?
