Commercial Metals reports Q4 net earnings up 40% to $212.5M, core EBITDA up 35.1%

CMC disclosed that it published a financial presentation covering its fourth quarter and full fiscal year 2026 results. The presentation is attached as Exhibit 99.2 and incorporated by reference into Item 7.01. The filing does not include the underlying financial figures in the body of the 8-K; those are in the exhibit.

CMC reported fourth quarter net earnings of $212.5 million, or $1.91 per diluted share, up from $1.35 in the prior year period. Adjusted earnings were $233.6 million, or $2.09 per diluted share, an increase of 52.6% on a per-share basis versus the comparable prior year period.

For the full fiscal year 2026, CMC reported net earnings of $655.8 million, up from $84.7 million in fiscal 2025. Consolidated core EBITDA increased to $1.4 billion from $837.3 million, with core EBITDA margin expanding 380 basis points to 14.5%.

The North America Steel Group delivered strong fourth quarter results, with adjusted EBITDA up 32.6% year-over-year to $317.5 million and adjusted EBITDA margin expanding to 16.4% from 14.8%. Performance reflects higher average selling prices, merchant bar-led volume growth, and ongoing TAG program benefits.

CMC reduced its net leverage adjusted for acquisitions to 1.9x, below its 2x target, reflecting strong cash generation and balance sheet discipline. The company also repurchased 383,333 shares for $26.7 million during the quarter and declared a quarterly dividend of $0.20 per share.

Net leverage adjusted for acquisitions declined to 1.9x, below the company's stated target of under 2.0x. This reflects improved EBITDA and disciplined balance sheet management following the precast acquisitions.

Net sales grew 25.7% year-over-year to $2,658 million in Q4 FY2026, and 7.1% sequentially from Q3 FY2026. The growth was driven by the precast acquisition and higher volumes in the North America Steel Group.

CMC provided preliminary fiscal 2027 outlook, targeting approximately $100 million of incremental gross run-rate EBITDA from its TAG operational and commercial excellence program. The company cited robust backlogs and continued strength in infrastructure, energy, data centers, and industrial reshoring as supporting demand visibility.

The 8-K discloses that CMC issued a press release on October 15, 2026, announcing financial results for the first quarter ended August 31, 2026. The press release is attached as Exhibit 99.1 and incorporated by reference into Item 2.02. The filing does not include the actual financial figures in the body of the 8-K; those are in the exhibit.