US based steel producer Commercial Metals Company (CMC) has announced its financial results for the fourth quarter of its fiscal year 2026, ended August 31. In the given quarter, CMC posted a net income of $212.5 million, up 40.0 percent from $151.8 million in the same quarter of fiscal year 2025 and up 22.8 percent from $173.0 million in the previous quarter. The company's net sales in the fourth quarter amounted to $2.66 billion, up 25.7 percent year on year and up 7.1 percent quarter on quarter. CMC's core EBITDA increased by 35.1 percent year on year to $393.7 million in the quarter.
In fiscal year 2026, CMC posted a net income of $655.8 million, compared to $84.7 million in fiscal year 2025, while its net sales rose 20.5 percent year on year to $9.39 billion. The company's core EBITDA for the full year increased 62.6 percent to $1.36 billion, from $837.3 million in the previous fiscal year.
In the fourth quarter, the company's external steel product shipments totaled 818,000 tons, up from 788,000 tons in the same quarter of the previous year. Of this total, rebar shipments amounted to 507,000 tons, down from 544,000 tons, while merchant bar and other product shipments rose 27.5 percent to 311,000 tons.
Chief executive officer Peter Matt said, “We expect fiscal 2027 will be another strong year for CMC…Our focus remains on delivering profitable growth, improving free cash flow generation, enhancing shareholder returns, and, above all, continuing to advance our strategic agenda for a stronger CMC.”
The company stated that its fourth quarter net earnings benefited by a lower effective tax rate, and that the year on year comparison reflects a $362.3 million expense for litigation with the Pacific Steel Group from 2025 that is absent in fiscal 2026.
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