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Steel News October 19, 2021 09:30:25 PM

CMC Announced Strong Outlook for Next Fiscal

Paul Ploumis
ScrapMonster Author
The company’s North America segment’s adjusted EBITDA in Q4 fiscal 2021 had surged higher by 22% over the previous year.

CMC Announced Strong Outlook for Next Fiscal

SEATTLE (Scrap Monster):  Based on the current market condition, Commercial Metals Company (CMC) anticipates strong operational and financial performance to continue in fiscal 2022. The outlook was shared by Barbara R. Smith, President and CEO, CMC while presenting the fourth quarter and full year fiscal 2021 results.

The company expects solid volumes during the upcoming fiscal, mainly supported by replenished construction backlog in North America and noticeable strength across key end markets in North America and Europe. The finished steel volumes are likely to witness typical seasonal weakness in the initial quarter of fiscal 2022. The quarterly margins are likely to remain consistent with the historical highs reported during the final quarter of the previous fiscal.

ALSO READ: CMC Announced New Share Repurchase Program

The company’s North America segment’s adjusted EBITDA in Q4 fiscal 2021 had surged higher by 22% over the previous year, rising from $174.2 million to $212.0 million. The shipment volumes of finished steel have increased by 2% year-on-year.

Also, the Europe segment had reported record adjusted EBITDA of $67.7 million for the fourth quarter of fiscal 2021, up 195% compared to adjusted EBITDA of $22.9 million for the prior year quarter.

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