logo

This website uses cookies to ensure you get the best experience on our website.

Read through the Privacy Policy to understand better

 Go Back

Commercial Metals Company reports record first quarter fiscal 2022 results

By Hemanth Gowda - Jan 11, 2022, 05:29 AM ET
Last Updated - Jul 10, 2024, 12:30 AM EDT
CMC_logo
During the first quarter of fiscal 2022, the Company recorded a net after-tax benefit of $33.7 million, primarily related to the capital loss on an international tax restructuring transaction. Excluding this benefit, first quarter adjusted earnings from continuing operations were $199.2 million, or $1.62 per diluted share, compared to adjusted earnings from continuing operations of $69.8 million, or $0.58 per diluted share, in the prior year period

Commercial Metals Company (NYSE: CMC) today announced financial results for its fiscal first quarter ended November 30, 2021. Earnings from continuing operations were $232.9 million, or $1.90 per diluted share, on net sales of $2.0 billion, compared to prior year earnings from continuing operations of $63.9 million, or $0.53 per diluted share, on net sales of $1.4 billion

•Achieved record quarterly Earnings from Continuing Operations of $232.9 million, or $1.90 per diluted share, and record Core EBITDA of $326.8 million

•Both North America and Europe segments reported record Adjusted EBITDA

Sponsored

•Realized significant per ton sequential increase in downstream products’ average selling price from higher new contract pricing

•Continued advancement in CMC's growth strategy — Negotiated acquisition of Tensar Corporation; closed Rancho Cucamonga land sale and received gross proceeds of $313.0 million; and achieved meaningful financial contribution from the new rolling line in Europe

By continuing to use this site, you agree to our terms and conditions
Sponsored
Sponsored
Sponsored
Our Offices
  • 10kInfo, Inc.
    13555 SE 36th St
    Bellevue, WA 98006
    Phone: +1 (425) 414-0184
  • 10kInfo Data Solutions, Pvt Ltd.
    Claywork Create
    11 km, Arakere Bannerghatta Rd, Omkar Nagar, Arekere,
    Bengaluru, Karnataka 560076
    Phone: +91 80 4902 2100
4.2 20250324