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    Market Segment

    March 17, 2022

    CMC’s Q2 Results Set Record, Boosted by Real Estate Sale

    Written by David Schollaert

    Commercial Metals Co. (CMC) posted record net earnings of $383.3 million on sales of $2.01 billion in its second fiscal quarter ended Feb. 28, beating the previous record set the prior quarter by more than $150 million.

    Commercial Metals CoResults for the Irving, Texas-based steelmaker were boosted by proceeds of $195.8 million from the sale of  Southern California real estate. Excluding this benefit, second-quarter adjusted earnings from continuing operations totaled $187.6 million, still the second most profitable quarter in company history.

    David Schollaert

    David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.

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