Commercial Metals Company (CMC) reported a successful first quarter of fiscal 2026 with net earnings of $177.3 million, or $1.58 per diluted share, and adjusted earnings of $206.2 million, or $1.84 per diluted share.
The company achieved a 52% year-over-year growth in consolidated core EBITDA to $316.9 million, showcasing operational excellence and commercial discipline.
Through strategic initiatives like TAG program and acquisitions of CP&P and Foley, CMC is focused on driving growth and profitability in the precast concrete industry.
Financial Performance
First quarter net earnings were $177.3 million, with adjusted earnings reaching $206.2 million, demonstrating significant improvement from the prior year period.
Operational Excellence
CMC capitalized on favorable market conditions and strong operational execution, leading to a 52% growth in core EBITDA and a core EBITDA margin of 14.9%.
Growth Initiatives
The company's TAG program aims to deliver an annualized run-rate EBITDA benefit of $150 million by the end of fiscal 2026, supported by new operational and commercial initiatives.
Acquisitions Strategy
CMC's acquisitions of CP&P and Foley have established a lucrative growth platform in the precast concrete industry, enhancing value for customers and shareholders.
- CMC's solid financial results reflect a robust domestic market environment for both the North America Steel Group and Construction Solutions Group, with stable demand and expanding margins.
- The company's focus on strategic expansion and operational efficiency positions CMC to capitalize on future construction activity trends and drive sustainable growth.
Overall, Commercial Metals Company's first quarter performance demonstrates strong financial growth and strategic positioning for future success in the construction industry.