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    Long Products

    June 26, 2026

    CMC's profits soar in fiscal third quarter

    Written by Ethan Bernard

    Commercial Metals Co.

    Third quarter ended May 3120262025% Change
    Net sales$2,483$2,02022.9%
    Net earnings (loss)$173$83.1108.1%
    Per diluted share$1.55$0.8386.7%
    Nine months ended May 31
    Net sales$6,735.6$5,684.018.5%
    Net earnings (loss)$443.3$(67.1)760.5%
    Per diluted share$3.96$(0.59) 771.2%
    (in millions of dollars except per share)

    CMC’s profits more than doubled in its fiscal third quarter.

    The Irving, Texas-based longs steel producer and metal solutions provider reported net earnings of $173 million in its fiscal third quarter ended May 31. That’s up 108% from $83.1 million a year earlier. Net sales rose 23% to $2.48 billion.

    “We substantially grew Core EBITDA, and made meaningful progress deleveraging our balance sheet,” Peter Matt, president and CEO, said in a statement on Thursday.

    Third-quarter North America Steel Group adjusted EBITDA was $253.5 million. That’s an increase of 41% year over year.

    CMC said the project pipeline for this group continues to grow. Public infrastructure spending, as well as mega-project investments across data centers, semiconductors, and ongoing energy-related build-outs, support this growth.

    Outlook

    Matt had a rosy outlook for the upcoming quarter.

    “Looking to the fourth quarter, supported by favorable market conditions, robust backlogs, and our strategic initiatives currently underway, we are well positioned to finish fiscal 2026 on very strong footing,” he said.

    Core EBITDA is expected to increase sequentially in fiscal Q4. Factors driving this include healthy domestic demand conditions and strong backlogs.

    Additionally, stronger North America Steel Group adjusted EBITDA is anticipated. This reflects the absence of a $20-million third-quarter mill outage headwind, “along with a similarly sized benefit expected from the combination of volume growth and margin expansion,” CMC said.

    The company did not name the specific mill outages.

    Ethan Bernard

    Ethan Bernard is managing editor for Steel Market Update. He previously worked for American Metal Market as a copy editor in the New York office for two years, starting in 2008. Later, he copy edited AMM’s monthly magazine on a freelance basis from 2015 until 2017. With experience in financial copywriting and textbook publishing, he holds a BA in Comparative Literature from UC Berkeley, and an MFA in Creative Writing from New York University. He can be reached at ethan@steelmarketupdate.com or 724-759-7871.

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