Commercial Metals Company (CMC) reported record financial results for its fiscal year ended August 31, 2026. The company announced net earnings of $655.8 million for the fiscal year, a significant increase from the $837.3 million in consolidated core EBITDA recorded in fiscal 2025. The company also reported a consolidated core EBITDA margin of 14.5%, which represents an expansion of 380 basis points compared to the previous year.
For the fourth quarter of fiscal 2026, CMC reported net earnings of $212.5 million, or $1.91 per diluted share. This figure compares to $151.781 million, or $1.35 per diluted share, in the same period of the prior year. Adjusted earnings for the quarter were $233.6 million, or $2.09 per diluted share, representing a year-over-year increase of 52.6% on a per-share basis. Consolidated core EBITDA for the quarter increased 35.1% year-over-year to $393.7 million, with margins expanding by 100 basis points to 14.8%.
The company attributes its improved results to strong growth in its North America Steel Group, the inclusion of acquired precast operations, and benefits from its Transform, Advance, Grow (TAG) initiatives. The North America Steel Group saw adjusted EBITDA increase 32.6% year-over-year to $317.5 million, driven by higher average selling prices and merchant bar volume growth. Conversely, the Construction Solutions Group experienced a decline in precast adjusted EBITDA due to regional residential softness, though the segment reported a 100.9% increase in adjusted EBITDA to $101.7 million.
On the balance sheet, as of August 31, 2026, cash, cash equivalents, and restricted cash totaled $778.9 million, with available liquidity exceeding $2.0 billion. The company reported a net leverage adjusted for acquisitions of 1.9x. During the quarter, CMC repurchased 383,333 shares of common stock valued at $26.7 million and declared a quarterly dividend of $0.20 per share, marking the 248th consecutive quarterly payment.
