Commercial Metals Company demonstrated strong financial performance and resilience in demand despite economic uncertainty and interest rate challenges. Strategic initiatives like the TAG program and investments in new projects are expected to drive significant growth. However, there are challenges with project delays and volume issues that need to be addressed.

Company Guidance -

Q3 2025

During the Fiscal 2025 Third Quarter Earnings Call, Commercial Metals Company provided guidance highlighting several key metrics and projections. The company reported net earnings of $83.1 million, or $0.73 per diluted share, on net sales of $2 billion. Excluding certain after-tax charges, adjusted earnings were $84.4 million, or $0.74 per diluted share. Consolidated core EBITDA was $204.1 million, with a core EBITDA margin of 10.1%. The company expects business conditions to improve, projecting higher margins and cash flows through the cycle. They anticipate a sequential improvement in financial results for the fourth quarter, driven by higher steel product margins over scrap and robust demand in North America, particularly from infrastructure activity. Additionally, they expect adjusted EBITDA for their Europe Steel Group to increase due to improved market fundamentals and cost management efforts. The company plans capital expenditures between $425 million and $475 million for fiscal 2025, down from previous guidance, due to timing shifts related to tax credit pursuits and weather delays, with an updated schedule projecting the start of melt shop production in spring 2026.

Strong Financial Performance

Commercial Metals Company reported net earnings of $83.1 million or $0.73 per diluted share on net sales of $2 billion. Adjusted earnings were $84.4 million or $0.74 per diluted share. Consolidated core EBITDA was $204.1 million with a core EBITDA margin of 10.1%, both of which improved meaningfully on a sequential basis.

Resilient Demand and Market Conditions

Construction and industrial activity resulted in year-over-year growth of finished steel shipments. Downstream bid volumes remained robust, pointing to substantial pent-up demand across nonresidential markets. Infrastructure activity demand is strengthening, particularly in key Sunbelt states.

Strategic Initiatives and Growth Plans

The TAG program is expected to yield approximately $50 million of EBITDA benefit in fiscal year 2025, with annual run rate benefits of over $100 million when fully realized. Investments in new projects like Arizona two and Steel West Virginia are expected to contribute over $150 million in incremental EBITDA.

Europe Market Improvement

Europe Steel Group reported adjusted EBITDA of $3.6 million for the third quarter compared to a loss of $4.2 million in the prior year. Improvement was driven by reduced import flows of long steel products and growing demand from construction markets.

Inorganic Growth Potential

Commercial Metals Company is exploring inorganic growth opportunities in the early-stage construction market, targeting segments with EBITDA margins above 20% and free cash flow conversion above current levels.

Commercial Metals Company (CMC) Earnings, Revenues Date & History

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CMC Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 09, 2025	2025 (Q4)	1.26 / -	0.9	―	―	―
Jun 23, 2025	2025 (Q3)	0.85 / 0.74	1.02	-27.45% (-0.28)
Mar 20, 2025	2025 (Q2)	0.29 / 0.26	0.88	-70.45% (-0.62)
Jan 06, 2025	2025 (Q1)	0.79 / 0.78	1.63	-52.15% (-0.85)
Oct 17, 2024	2024 (Q4)	0.91 / 0.90	1.69	-46.75% (-0.79)
Jun 20, 2024	2024 (Q3)	1.02 / 1.02	2.02	-49.50% (-1.00)
Mar 21, 2024	2024 (Q2)	0.76 / 0.88	1.44	-38.89% (-0.56)
Jan 08, 2024	2024 (Q1)	1.47 / 1.63	2.24	-27.23% (-0.61)
Oct 12, 2023	2023 (Q4)	1.77 / 1.69	2.45	-31.02% (-0.76)
Jun 22, 2023	2023 (Q3)	1.81 / 2.02	2.61	-22.61% (-0.59)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

CMC Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jun 23, 2025	$48.68	$49.27	+1.21%
Mar 20, 2025	$46.68	$47.18	+1.07%
Jan 06, 2025	$48.53	$50.04	+3.11%
Oct 17, 2024	$53.10	$55.81	+5.10%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.