CMC Q3 Core EBITDA Rises 78.6% to $353.6M, Net Earnings Hit $173M
CMC•CMC posted Q3 net earnings of $173 million ($1.55 per share) and adjusted earnings of $193 million ($1.73 per share); consolidated core EBITDA surged 78.6% to $353.6 million with margin up 440 basis points to 14.2%. Net leverage fell below 2× well ahead of the mid-2027 target.
1. Third Quarter Financial Highlights
CMC reported net earnings of $173.0 million ($1.55 per diluted share) and adjusted earnings of $193.0 million ($1.73 per diluted share) for the quarter ended May 31, 2026. Consolidated core EBITDA climbed 78.6% year-over-year to $353.6 million while margin expanded 440 basis points to 14.2%, and net leverage declined toward below 2× well ahead of the mid-2027 goal.
2. North America Steel Group Results
Adjusted EBITDA for the North America Steel Group rose 41% to $253.5 million, driven by a $111 per ton increase in metal margins and benefits from the TAG program. Average selling price grew by $130 per ton versus a $19 per ton rise in scrap costs; shipments fell 1.7% due to planned downtime and weather, but bookings jumped 15.5%, supporting a healthy backlog.
3. Construction Solutions Group Expansion
CSG net sales doubled to $394.6 million with precast acquisitions contributing $175.7 million in revenue and $52.9 million in adjusted EBITDA. Segment margin widened by 400 basis points to 24.7%, underpinned by strong bidding activity, robust backlogs, and improved Tensar profitability.
4. Europe Steel Group Profit Improvement
Europe Steel Group adjusted EBITDA surged to $34.7 million from $3.6 million a year earlier, aided by a $20.4 million CO₂ credit and a $37 per ton metal margin expansion. Average selling price increased $34 per ton while scrap costs fell $3 per ton, lifting the segment margin to 11.9%.
