CMC earnings analysis
What we found in CMC's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Commercial Metals Company (CMC) reported a strong Q3 for fiscal 2026 with revenues reaching $2.48 billion, a 23% increase year-over-year, and earnings improved to $1.73 per share, surpassing analyst estimates. Notably, segment growth was driven by substantial contributions from the newly acquired precast platform, which significantly boosted overall sales figures.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Strong Revenue Growth
- Revenue increased by $463.3 million, or 23%, to $2.48 billion YoY.
- EPS Exceeds Expectations
- Diluted EPS rose to $1.73, beating estimates of $1.70.
- Precast Platform Contribution
- The new precast platform added $175.7 million in sales in Q3.
- Improved Profitability
- Net earnings reached $173 million, compared to $83 million in the prior year.
- Segment Performance
- The Construction Solutions Group saw a 100% increase in revenues.
- Higher Adjusted EBITDA
- Adjusted EBITDA increased by 138% in the Construction Solutions Group.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Increased Litigation Expenses
- Litigation expenses related to ongoing cases totaled $11.6 million in the latest quarter.
- Rising Interest Expenses
- Interest expenses rose by $29.3 million due to new debt from acquisitions.
- Raw Material Cost Volatility
- Higher materials costs led to increased cash used by inventories by $116.8 million.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $1.73
- Segment
- North America Steel Group
- Segment
- Construction Solutions Group
- Segment
- Europe Steel Group
What they said about what is next.
Management indicated that Q4 EBITDA is expected to improve sequentially due to strong demand.
The filing reads better than the one before it.
What came before.
- 10-Q · March 31, 2026
- Commercial Metals reported quarter net sales of $2,132,018,000 (three months ended Feb 28, 2026), up 21.5% year-over-year from $1,754,376,000, and delivered diluted EPS of $0.83 versus $0.22 a year ago. Results reflect…
- 10-Q · January 8, 2026
- Commercial Metals reported strong operational improvement for the three months ended November 30, 2025: net sales of $2,120,307,000 and net earnings of $177,282,000 (diluted EPS $1.58), reversing a year-ago loss of…
- 10-K · October 16, 2025
- CMC reported fiscal 2025 net sales of $7,798,480,000 (down $127.5 million vs. 2024) and net earnings of $84,662,000 (diluted EPS $0.74), with a material $362.3 million litigation-related expense recorded in 2025. The…
- 10-K · October 17, 2024
- Commercial Metals Company (CMC) reported FY2024 net sales of $7,925,972,000 and diluted EPS of $4.14, with net earnings of $485,491,000. Results reflect metal-margin compression across North America and Europe, offset…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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