en.Wedoany.com Reported - CMC (formerly Commercial Metals Co.), headquartered in Texas, USA, reported adjusted earnings of over $190 million for the period from March 1 to May 31, 2026, representing a 48% increase from the previous quarter and a 142% increase year-over-year.
The company, which engages in metal recycling, electric arc furnace (EAF) steel mill operations, and construction product supply, attributed its quarterly financial health to "strong market conditions" and gains from internal corporate initiatives. The spring 2026 period corresponds to CMC's fiscal third quarter of 2026, which runs from September 1, 2025, to August 31, 2026.
CMC President and CEO Peter Matt stated that the company continued to advance its strategic agenda and achieved significant progress across multiple fronts in the third fiscal quarter. He noted a substantial improvement in core EBITDA, alongside meaningful progress in deleveraging the balance sheet. He also mentioned that the early construction portfolio benefited from robust demand, as well as strong bookings and backlog secured at attractive prices.
The company's EAF steel segment also contributed to spring profits, with CMC's North America Steel Group posting adjusted EBITDA of over $250 million, up 41% year-over-year. CMC attributed the improved EAF profitability partly to higher margins between steel selling prices and scrap costs. Metal margins increased by $111 per ton, with average steel product selling prices rising $130 per ton, while scrap costs increased by only $19 per ton over the same period.
In terms of steel sales, CMC noted that underlying demand in the U.S. remains robust. The project pipeline continues to grow, supported by public infrastructure spending and investments in large-scale projects such as data centers, semiconductors, and ongoing energy-related construction, all contributing to a healthy backlog.
Although CMC stated that margins from scrap to semi-finished steel were maintained in 2026, steel product margins declined by $13 per ton sequentially, as average steel product selling prices rose $15 per ton over the same period, but scrap costs increased by $28 per ton, fully offsetting the price gain.
As the company enters the fourth quarter of fiscal 2026, CEO Matt expressed confidence that, supported by favorable market conditions, a strong backlog, and ongoing strategic initiatives, CMC is well-positioned to complete fiscal 2026 on a very strong footing.
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