I last wrote about CMC (NYSE: CMC ), previously known as the Commercial Metals Company, on August 8 of this year. In that piece I argued the firm benefitted from structural supply-side issues in the steel industry, and had An economics graduate with a passion for financial history; I apply my knowledge to markets in an effort to hopelessly predict trends and spot value. All opinions are my own and should not be taken seriously. Analyst's Disclosure: I/we have no stock, option or similar derivative position ...

Summary of Key Points Core Viewpoint - Commercial Metals Company (NYSE: CMC) has seen a decline of over 5% in its share price since a bearish recommendation was made in May of this year, suggesting a cautious outlook on the stock [1]. Company Analysis - The investment strategy focuses on acquiring undervalued, profitable stocks with strong balance sheets and minimal debt, indicating a preference for financial stability in investment choices [1]. - The company employs risk management techniques such as position sizing and trailing stop losses to mitigate potential losses over time [1]. Market Position - The current market sentiment towards CMC appears to be bearish, as indicated by the recommendation to take profits and the subsequent decline in share price [1].

Commercial Metals Company (CMC) reported adjusted earnings per share (EPS) of 90 cents for fourthquarter fiscal 2024 (ended Aug. 31, 2024), missing the Zacks Consensus Estimate of 91 cents. The bottom line fell from the prior-year quarter's $1.58. During the fourth quarter of fiscal 2023 , CMC had previously made an adjustment of $16 million for mill operational commissioning costs related to its third micro mill, which was placed into service in the quarter. During its fourth quarter 2024 earnings release, ...

Financial Data and Key Metrics Changes - Fiscal 2024 core EBITDA was $1 billion, down from $1.4 billion in fiscal 2023, but still 40% above pre-pandemic levels [7][8] - Fourth quarter net earnings were $103.9 million or $0.90 per diluted share on sales of $2 billion, with consolidated EBITDA of $227.1 million and a core EBITDA margin of 11.4% [12][21] - Cash flow from operating activities was $900 million, with $261.8 million returned to shareholders, marking a 48% increase from fiscal 2023 [8][28] Business Line Data and Key Metrics Changes - North American Steel Group generated adjusted EBITDA of $210.9 million, down 14% sequentially due to lower margins over scrap costs [22] - Europe Steel Group reported an adjusted EBITDA loss of $3.6 million, an improvement from a loss of $4.2 million in the previous quarter, driven by cost reductions [23][24] - Emerging Businesses Group's adjusted EBITDA margin improved, with a 11.2% increase in adjusted EBITDA to $42.5 million, driven by strong activity in the Tensar unit [25] Market Data and Key Metrics Changes - Demand for steel products in North America remained healthy, with shipping volumes unchanged year-over-year, supported by solid backlogs of ongoing construction projects [14] - The Europe Steel Group faced challenges from increased imports, with rebar imports up 85% year-to-date, impacting margins [17] - The Dodge Momentum Index indicates a strong pipeline of construction projects, suggesting a rebound in construction activity is anticipated [16] Company Strategy and Development Direction - The company is focused on achieving sustainably higher margins through operational and commercial excellence initiatives, including the TAG program [18][19] - Strategic growth plans include organic projects and disciplined pursuit of inorganic growth opportunities in adjacent markets [20][21] - The company aims to enhance its growth trajectory and improve margin profiles through a comprehensive strategic plan [10][11] Management's Comments on Operating Environment and Future Outlook - Management noted that current market conditions are transient, with expectations for a rebound in the second half of fiscal 2025 as construction fundamentals return [31] - The company anticipates a decline in consolidated financial results for the first fiscal quarter of 2025 due to temporary softness in the construction industry [29][30] - Management expressed confidence in the long-term growth potential driven by structural trends in North America, including infrastructure investment and reshoring [32] Other Important Information - The company expects capital expenditures for fiscal 2025 to be between $630 million and $680 million, with significant investment in the Steel West Virginia project [27][50] - The effective tax rate for the fourth quarter was 22.3%, with an anticipated rate of 24% to 25% for fiscal 2025 [27] Q&A Session Summary Question: Guidance for the Emerging Business Group - Management expects results to be roughly similar year-on-year, with seasonal trends impacting performance [33] Question: Long-term strategic plan and quantifying benefits - The TAG initiative is expected to contribute to earnings in 2025, with over 150 initiatives identified for execution [34] Question: Current margins and future targets - Management aims for higher through-the-cycle margins, with TAG expected to supplement current margins [37] Question: Backlog value compared to last quarter - Volume levels remain comparable, but the value of the backlog has decreased due to lower prices for rebar material [39] Question: Arizona 2 volume contribution and market conditions - Management acknowledged challenges with Arizona 2 but remains confident in achieving full run rate production [41] Question: Sustainability of the Europe Steel Group business - Management is committed to the Europe Steel Group and expects a recovery in Germany to positively impact profitability [43] Question: Demand environment and infrastructure impact on rebar - Management adjusted expectations for rebar demand due to inflationary impacts on infrastructure spending [45] Question: Merchant bar market dynamics - Demand for merchant bars is consistent but affected by broader market uncertainties, with recent price adjustments noted [47] Question: Fiscal 2025 CapEx budget and growth projects - The CapEx budget is set between $630 million and $680 million, primarily for the Steel West Virginia project [50] Question: Inorganic growth opportunities - Management prioritizes disciplined investment in inorganic growth, focusing on high-margin product categories [51]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended August 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-4304 Commercial Metals Company (Exact name of registrant as specified in its charter) Delaware 75-0725338 (State or other jurisdiction of in ...

Q4 FY 2024 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 (CMC) came out with quarterly earnings of $0.90 per share, missing the Zacks Consensus Estimate of $0.91 per share. This compares to earnings of $1.69 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -1.10%. A quarter ago, it was expected that this manufacturer and recycler of steel and metal products would post earnings of $1 per share when it actually produced earnings of $1.02, delivering a surprise of 2%. ...

Exhibit No. 99.1 News Release CMC REPORTS FOURTH QUARTER AND FULL YEAR FISCAL 2024 RESULTS • Fourth quarter net earnings of $103.9 million, or $0.90 per diluted share; annual net earnings of $485.5 million, or $4.14 per diluted share • Consolidated core EBITDA of $227.1 million in the fourth quarter; core EBITDA margin of 11.4% • Solid construction activity provided stability in North America shipment volumes; margins pressured by decline in average steel pricing • Tensar achieved its most profitable quarte ...

Fourth quarter net earnings of $103.9 million, or $0.90 per diluted share; annual net earnings of $485.5 million, or $4.14 per diluted share Consolidated core EBITDA of $227.1 million in the fourth quarter; core EBITDA margin of 11.4% Solid construction activity provided stability in North America shipment volumes; margins pressured by decline in average steel pricing Tensar achieved its most profitable quarter to date as a division of CMC, driving the Emerging Businesses Group adjusted EBITDA margin to 21. ...

Wall Street expects a year-over-year decline in earnings on lower revenues when Commercial Metals (CMC) reports results for the quarter ended August 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates. The earnings report, which is expected to be released on October 17, 2024, might help the stock move higher if these key numbers are better tha ...