Commercial Metals Company Reports Q4 & Full Year Fiscal 2026 Results

Commercial Metals Company (NYSE: CMC) Q4 and FY 2026 Earnings Summary

Commercial Metals Company filed a Form 8-K under Items 2.02 and 7.01 announcing its financial results for the fourth quarter and fiscal year ended August 31, 2026.

Key Financial Highlights

• Q4 Fiscal 2026 Net Sales: $2,658.3 million, up 25.7% from $2,114.5 million in Q4 FY2025 and up 7.1% sequentially from $2,483.2 million in Q3 FY2026.
• Q4 Net Earnings: $212.5 million ($1.91 per diluted share), compared to $151.8 million ($1.35 per diluted share) in the prior-year period.
• Q4 Adjusted Earnings: $233.6 million ($2.09 per diluted share), up 52.6% YoY from $155.0 million ($1.37 per diluted share).
• Q4 Core EBITDA: $393.7 million, increasing 35.1% YoY from $291.4 million. Core EBITDA margin improved 100 bps YoY to 14.8%.
• Full Year Fiscal 2026 Results: Net earnings reached $655.8 million. Consolidated core EBITDA expanded to $1.4 billion (compared to $837.3 million in FY2025), with full-year core EBITDA margins up 380 bps to 14.5%.

Segment Performance

• North America Steel Group: Adjusted EBITDA increased 32.6% YoY to $317.5 million, with adjusted EBITDA margin reaching 16.4%. Metal margins increased $84 per ton YoY to $652 per ton, assisted by strong merchant bar volumes (+27.5% YoY).
• Construction Solutions Group (CSG): Net sales surged 94.5% YoY to $431.4 million and adjusted EBITDA grew 100.9% to $101.7 million, largely reflecting the inclusion of acquired precast operations, despite regional residential headwinds in the Southeast.
• Europe Steel Group: Adjusted EBITDA came in at $15.6 million versus $39.1 million in Q4 FY2025 (which included a $30.7 million CO2 credit not repeated this quarter). Metal margin expanded $32 per ton YoY.

Liquidity, Capital Returns & Outlook

• Balance Sheet & Liquidity: Cash and cash equivalents totaled $778.9 million, with total available liquidity above $2.0 billion. Net leverage adjusted for acquisitions finished at 1.9x.
• Shareholder Return: During Q4, CMC repurchased 383,333 shares for $26.7 million ($702.1 million remaining authorization). On October 13, 2026, the Board declared a quarterly dividend of $0.20 per share.
• Q1 FY2027 Outlook: Expected to deliver healthy operating results with normal seasonal dynamics. North America Steel Group adjusted EBITDA is guided to be roughly flat sequentially; CSG adjusted EBITDA is expected lower due to seasonality; Europe Steel Group is expected to show meaningful sequential adjusted EBITDA growth supported by a CO2 credit.