Commercial Metals Company (NYSE: CMC) reported fiscal fourth‑quarter 2025 net earnings of $151.8 million, or $1.35 per diluted share, on net sales of $2.10 billion, up 5.6% year‑over‑year. Adjusted earnings were $155.0 million, or $1.37 per diluted share, reflecting a $3.2 million after‑tax charge related to litigation and other one‑time items. The company’s cash and cash equivalents stood at $1.0 billion, with available liquidity near $1.9 billion as of August 31, 2025.
Segment results highlighted robust performance across all business units. The North America Steel Group generated adjusted EBITDA of $239.4 million, a 18.0% increase from the same period last year, driven by higher steel product margins and improved scrap costs. The Emerging Businesses Group posted adjusted EBITDA of $50.6 million, up 19.1% YoY, supported by strong demand for proprietary reinforcing steel and higher margins on specialty products. The Europe Steel Group achieved adjusted EBITDA of $39.1 million, a turnaround from a loss in the prior year, aided by a $30.7 million CO₂ credit and improved metal margins.
Guidance for the first quarter of fiscal 2026 indicates that consolidated financial results are expected to be generally consistent with the fourth‑quarter 2025 performance. Management reiterated its expectation of sequential improvement in adjusted EBITDA margin, particularly within the North America Steel Group, and maintained a positive outlook for the Emerging Businesses Group despite seasonal softness. The company also confirmed that it will continue to pursue its TAG operational and commercial excellence program to sustain margin expansion.
Capital expenditures for the nine months ended May 31, 2025, totaled $293.9 million, up from $293.9 million in the prior year, primarily driven by the West Virginia micro‑mill construction. CMC repurchased 974,462 shares during the quarter, valued at $50.0 million, and declared a quarterly dividend of $0.18 per share, its 244th consecutive payment. The company’s debt‑to‑EBITDA ratio remained attractive, and it remains in compliance with all credit facility covenants.
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