CMC Posts Strong Fiscal Q3 2026 Earnings as EBITDA Jumps Nearly 79% on Robust Steel Demand

Metal Recycling News  |  2026-06-29 03:46:12   |   By

Looking ahead, CMC expects continued momentum supported by healthy project backlogs, infrastructure investments, stronger booking activity, and improving trade policies in both North America and Europe.

SEATTLE (Scrap Monster): Commercial Metals Company (CMC) delivered a robust fiscal third-quarter 2026 financial results, driven by stronger steel market fundamentals and improved margins. The contributions from recently acquired precast operations also aided results.

For the quarter ended May 31, 2026, the company reported net sales of $2.48 billion, a 22.9% increase from the same period last year. Net earnings more than doubled to $173 million, or $1.55 per diluted share, while adjusted earnings climbed to $193 million, said a company news release.

CMC's core EBITDA surged 78.6% to $353.6 million. The consolidated EBITDA margin stood at 14.2%, compared with 9.8% a year earlier.

The North America Steel Group benefited from wider spreads between finished steel prices and scrap costs. Meanwhile, the Construction Solutions Group recorded exceptional growth, primarily driven by precast acquisitions and solid performance from Tensar.

The profitability from the Europe region recorded significant improvement, as favorable market conditions, higher steel prices, and carbon-related credits contributed to the earnings. 

Looking ahead, CMC expects continued momentum supported by healthy project backlogs, infrastructure investments, stronger booking activity, and improving trade policies in both North America and Europe.