Commercial Metals Company (CMC) reported fiscal 2026 net earnings of $655.8 million, up from $84.7 million, alongside gains in sales and core EBITDA; the earlier period included a large litigation charge.
Net sales for the year ended Aug. 31 totaled $9.394 billion, compared with $7.798 billion in fiscal 2025. Core EBITDA, a non-GAAP measure, reached $1.362 billion, up from $837.262 million. Its margin expanded to 14.5% from 10.7%, a 380-basis-point increase. Adjusted earnings, also a non-GAAP measure, were $762.938 million, against $357.283 million a year earlier. CMC’s reconciliation shows litigation expense of $362.272 million in fiscal 2025 and $15.356 million in fiscal 2026. The company marked its financial tables unaudited.
In the fourth quarter ended Aug. 31, net earnings were $212.520 million, or $1.91 per diluted share. Adjusted earnings totaled $233.590 million, or $2.09 per diluted share. Core EBITDA increased 35.1% year over year to $393.658 million, with a 14.8% margin, 100 basis points higher. CMC said a lower effective tax rate partly aided the per-share earnings comparison.
North America Steel Group recorded $317.5 million in adjusted EBITDA, up 32.6%. CMC attributed the result in part to stronger steel pricing, higher merchant bar volume and benefits from its Transform, Advance, Grow (TAG) program. Construction Solutions Group had $431.4 million in net sales, 94.5% higher year over year, and adjusted EBITDA of $101.7 million, up 100.9%. CMC also identified acquired precast operations as a contributor to fiscal-year gains.
Precast sales were $190.8 million, and adjusted EBITDA reached $57 million. CMC linked lower volumes and regional margin-mix headwinds to weakness in residential demand. “Residential softness weighed on precast results,” said Peter Matt, CMC’s president and chief executive officer.
For the first quarter of fiscal 2027, CMC expects meaningful sequential adjusted EBITDA growth at Europe Steel Group. It expects North America Steel Group to be nearly flat and Construction Solutions Group to decline amid typical seasonal conditions. Matt and Senior Vice President and Chief Financial Officer Paul Lawrence are scheduled to discuss the results on a call at 11 a.m. ET Thursday, Oct. 15.
