CALGARY, Alberta, April 02, 2025 (GLOBE NEWSWIRE) -- Cielo Waste Solutions Corp. (TSXV:CMC; OTC PINK:CWSFF) (“Cielo” or the “Company”) today announced that it has received a shareholder meeting requisition notice pursuant to Section 167(1) of the Business Corporations Act (British Columbia) (the “Requisition”) from Expander Energy Inc. (“Expander”), the Company’s largest shareholder, which holds in excess of five percent (5%) of the issued common shares of the Company. This follows Cielo’s announcement of A ...

Cielo is engaged in advanced discussions with a technology provider on a project in British Columbia that will utilize scrap railway ties as feedstock to produce Green Hydrogen for use in the British Columbia market. "As Cielo completes a shift in our strategy, we also continue to be flexible in our project execution. We are willing and prepared to pivot as the political and technological landscapes change. In addition, as the demand for renewable fuels changes, Cielo understands the need to revise our appr ...

Financial Performance - Net sales decreased by $93.9 million, or 5%, for the three months ended February 28, 2025, and decreased by $187.4 million, or 5%, for the six months ended February 28, 2025, compared to the corresponding periods [92]. - Net earnings for the three months ended February 28, 2025, were $25.5 million, down from $85.8 million in the corresponding period, while a net loss of $150.2 million was recorded for the six months ended February 28, 2025, compared to net earnings of $262.1 million in the prior period [93]. - The compression in steel and downstream products metal margins in the North America Steel Group segment significantly impacted net earnings for the three and six months ended February 28, 2025 [93]. - Net sales to external customers in the North America Steel Group segment decreased by 7% to $1,386.8 million for the three months ended February 28, 2025, and by 6% to $2,905.5 million for the six months ended February 28, 2025, compared to the corresponding periods [99]. - Adjusted EBITDA for the North America Steel Group was $128.8 million for the three months and $317.0 million for the six months ended February 28, 2025, down from $222.3 million and $489.1 million in the respective prior periods [100]. - In the Europe Steel Group, net sales to external customers increased by $5.5 million, or 3%, for the three months ended February 28, 2025, but decreased by $10.2 million, or 2%, for the six months ended February 28, 2025 [101]. - The Europe Steel Group experienced a 13% increase in steel products shipment volumes during the three months ended February 28, 2025, despite a $61 per ton decrease in average selling price [102]. - The Emerging Businesses Group reported net sales of $158.9 million for the three months ended February 28, 2025, showing a slight increase compared to $156.0 million in the prior year [103]. - Adjusted EBITDA for the Emerging Businesses Group increased by $5.6 million, or 31%, during the three months ended February 28, 2025, compared to the corresponding period [104]. Expenses and Costs - Selling, general and administrative expenses increased by $15.4 million during the six months ended February 28, 2025, primarily due to $12.1 million in incremental labor-related expenses and $5.4 million in additional legal expenses [94]. - Litigation expenses related to the Pacific Steel Group litigation amounted to $4.7 million and $354.7 million for the three and six months ended February 28, 2025, respectively [96]. - Corporate and Other segment reported an adjusted EBITDA loss of $34.9 million for the three months ended February 28, 2025, and a loss of $421.1 million for the six months, reflecting a significant increase due to litigation-related losses [105]. Tax and Financial Position - The effective income tax rate for the three months ended February 28, 2025, was 29.4%, compared to 26.6% in the corresponding period, while the rate for the six months remained relatively flat at 23.0% [97]. - As of February 28, 2025, the company had cash and cash equivalents of $758.4 million, indicating a strong liquidity position [110]. - Net cash flows from operating activities decreased to $245.5 million for the six months ended February 28, 2025, down from $350.0 million for the same period in 2024, primarily due to a decrease in net earnings and a $45.9 million decrease in cash used by operating assets and liabilities [119]. - Net cash flows used by investing activities increased to $175.1 million for the six months ended February 28, 2025, compared to $158.5 million in the prior year, driven by $43.7 million in incremental capital expenditures for the construction of the fourth micro mill [120]. - Net cash flows used by financing activities rose to $169.9 million for the six months ended February 28, 2025, from $147.8 million in the previous year, including a $22.1 million increase in treasury stock acquired under the share repurchase program [121]. - The company reported $354.7 million in litigation expenses for the six months ended February 28, 2025, related to ongoing legal matters, which were classified as current liabilities [124]. - As of February 28, 2025, the company had committed $35.4 million under stand-by letters of credit, with $1.0 million reducing availability under the Revolver [123]. Capital Expenditures and Growth Initiatives - The company anticipates capital spending between $550 million and $600 million for 2025, focusing on value-accretive growth and competitive cash returns to stockholders [113]. - The company repurchased $98.4 million of shares during the six months ended February 28, 2025, with remaining authorization to repurchase $305.3 million of shares [114]. - Incremental capital expenditures for the construction of the fourth micro mill were partially offset by $25.0 million of government assistance received [120]. - The third micro mill, located in Mesa, Arizona, was placed into service during the fourth quarter of 2023, with a production capacity approximately 40% greater than other micro mills [82]. - The planned fourth micro mill in Berkeley County, West Virginia, is expected to commence commissioning in late calendar 2025 [83]. - The Transform, Advance and Grow initiative aims to enhance operational value through sustained margin enhancement and greater capital efficiency [81]. - The company anticipates potential growth from acquisitions and strategic investments, although actual results may vary materially from expectations due to various risks [125]. Economic and Market Conditions - The company is monitoring macroeconomic trends, including the impact of tariffs and the Russian invasion of Ukraine, which has led to economic slowdowns and commodity price volatility [85][86]. - The company faces risks related to economic conditions, commodity pricing, and geopolitical factors that could impact future performance [126]. - The total gross foreign currency exchange contract commitments increased by $34.4 million, or 15%, as of February 28, 2025, compared to August 31, 2024, primarily due to forward contracts denominated in euro [129].

Q2 FY 2025 Supplemental Slides Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the federal securities laws with respect to general economic conditions, key macro-economic drivers that impact our business, the effects of ongoing trade actions, the effects of continued pressure on the liquidity of our customers, potential synergies and growth provided by acquisitions and strategic investments, demand for our products, shipment volumes, metal margins, the ...

Commercial Metals Company (NYSE:CMC) Q2 2025 Earnings Conference Call March 20, 2025 11:00 AM ET Company Participants Peter Matt - President and CEO Paul Lawrence - SVP and CFO Conference Call Participants Sathish Kasinathan - Bank of America Timna Tanners - Wolfe Research Mike Harris - Goldman Sachs Andrew Jones - UBS Operator Hello, and welcome, everyone, to the Fiscal 2025 Second Quarter Earnings Call for CMC. Joining me today on today's call are Peter Matt, CMC's President and Chief Executive Officer; a ...

For the quarter ended February 2025, Commercial Metals (CMC) reported revenue of $1.75 billion, down 5.1% over the same period last year. EPS came in at $0.26, compared to $0.88 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $1.77 billion, representing a surprise of -1.04%. The company delivered an EPS surprise of -16.13%, with the consensus EPS estimate being $0.31.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- a ...

Commercial Metals (CMC) came out with quarterly earnings of $0.26 per share, missing the Zacks Consensus Estimate of $0.31 per share. This compares to earnings of $0.88 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -16.13%. A quarter ago, it was expected that this manufacturer and recycler of steel and metal products would post earnings of $0.78 per share when it actually produced earnings of $0.78, delivering no surprise.Ov ...

Financial Performance - Second quarter net earnings were $25.5 million, or $0.22 per diluted share, compared to $85.8 million, or $0.73 per diluted share in the prior year period[2]. - Adjusted earnings for the second quarter were $29.3 million, or $0.26 per diluted share, down from $85.9 million, or $0.73 per diluted share year-over-year[3]. - Total net sales to external customers decreased to $1,754,376 from $1,848,287 year-over-year, reflecting a decline of 5.1%[25]. - Net earnings for the quarter were $25,473, a decrease from $85,847 in the same quarter last year, resulting in earnings per share of $0.22[25]. - Net earnings for the six months ended February 28, 2025, were a loss of $150,245 compared to a profit of $262,120 for the same period last year[28]. - Adjusted earnings per diluted share for the six months ended February 28, 2025, were $1.04, down from $2.22 in the previous year[33]. EBITDA and Margins - Consolidated core EBITDA was $131.0 million with a core EBITDA margin of 7.5%[5]. - Adjusted EBITDA for the Emerging Businesses Group increased by 31.2% year-over-year to $23.5 million, with an adjusted EBITDA margin of 14.8%[14]. - Adjusted EBITDA for North America Steel Group was $128,818, down 31.7% from $188,205 in the prior quarter, resulting in an adjusted EBITDA margin of 9.3%[22]. - The Europe Steel Group achieved adjusted EBITDA breakeven during the quarter, with an adjusted EBITDA margin of 0.4%, up from (4.5%) in the prior year[12]. - Total adjusted EBITDA for the company was $118,237, compared to a loss of $149,541 in the previous quarter[23]. - Adjusted EBITDA for the six months ended February 28, 2025, was $(31,304), a significant decrease from $502,737 in the prior year[32]. - Core EBITDA margin for the six months ended February 28, 2025, was 9.3%, down from 13.7% in the previous year[32]. Sales and Shipments - Finished steel shipments increased by 3.3% compared to the prior year second quarter, driven by solid North American construction demand[5]. - North America Steel Group reported net sales of $1,386,848, a decrease of 8.7% from $1,518,637 in the previous quarter[22]. - Emerging Businesses Group net sales were $158,864, down 6.5% from $169,415 in the previous quarter, with an adjusted EBITDA margin of 14.8%[23]. - The average selling price per ton for steel products in North America was $814, slightly down from $812 in the previous quarter[22]. - Net sales for the six months ended February 28, 2025, were $3,663,978, a decrease from $3,851,338 in the previous year, representing a decline of approximately 4.9%[32]. Cash and Liquidity - Cash and cash equivalents totaled $758.4 million, with available liquidity of nearly $1.6 billion as of February 28, 2025[6]. - Cash and cash equivalents at the end of the period were $759,426, compared to $639,897 at the end of the same period last year, reflecting an increase of approximately 18.7%[28]. Dividends and Shareholder Returns - The board declared a quarterly dividend of $0.18 per share, marking the 242 consecutive quarterly payments[7]. - The company declared cash dividends per share of $0.18, up from $0.16 in the previous quarter[25]. Future Outlook - The company expects consolidated financial results in the third quarter of fiscal 2025 to rebound, with improved finished steel shipments and adjusted EBITDA margins[15]. - The operational and commercial excellence program, Transform, Advance, and Grow (TAG), is expected to provide financial benefits in fiscal 2025 and beyond[6]. Costs and Liabilities - Cost of goods sold for the quarter was $1,534,829, compared to $1,552,046 in the same quarter last year[25]. - Total current liabilities increased to $1,109,127, up from $834,850, indicating a rise of approximately 32.8%[27]. - The company reported a litigation expense of $354,720 for the six months ended February 28, 2025, with no comparable expense in the prior year[28]. - Total assets decreased to $6,689,710, down from $6,817,839, representing a decline of approximately 1.9%[27]. Capital Expenditures - The company incurred capital expenditures of $204,454 during the six months ended February 28, 2025, compared to $160,772 in the prior year[28].

IRVING, Texas, March 20, 2025 /PRNewswire/ -- Commercial Metals Company (NYSE: CMC) today announced financial results for its fiscal second quarter ended February 28, 2025. Second quarter net earnings was $25.5 million, or $0.22 per diluted share, on net sales of $1.8 billion, compared to prior year period net earnings of $85.8 million, or $0.73 per diluted share, on net sales of $1.8 billion. During the second quarter of fiscal 2025, the Company recorded estimated net after-tax charges of $3.9 million prim ...

Wall Street analysts expect Commercial Metals (CMC) to post quarterly earnings of $0.30 per share in its upcoming report, which indicates a year-over-year decline of 65.9%. Revenues are expected to be $1.77 billion, down 4.1% from the year-ago quarter.Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 16.5% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.Before a company reveal ...