Aug 2026 (Q4 FY26) — Oct 15, 2026
Commercial Metals Company Q4 FY26 — Strong Performance Driven by Strategic Initiatives and Growth Investments
Read the full callCommercial Metals Company (CMC) earnings
- Aug 2026
- Aug 2026 (Q4 FY26)
- Aug 2026
Commercial Metals Company earnings: last reported Thu, 15 Oct 2026, for the quarter ended Aug 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 2,658 | +25.7% YoY | Quarterly, as filed | Quarter to Aug 2026 | Revenue from operations as filed. |
| Operating margin | Operating profit / revenue | Quarter to Aug 2026 | Not in the filed figures for the quarter to aug 2026. No older figure is substituted. | ||
| Net profit | 213 | +40.0% YoY | Quarterly, as filed | Quarter to Aug 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
29 of 41 judged targets kept · 26 open · verdicts reflect calls analysed to Aug 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Rebar market growth | 1% to 3% | Feb 2026 | if you look, as Peter said, the market is up 4% to 5% in terms of rebar consumption | Achieved |
| Capital expenditures | in the $550 million range | May 2025 | In fiscal '26, total capital spend was approximately $580 million. | Missed |
| Steel West Virginia commissioning start | late part of 2025 | Feb 2025 | Meanwhile, progress at Steel West Virginia is continuing, and we look forward to hot commissioning our newest micro mill later this summer. | Delayed |
12 of COMMERCIAL METALS Co's 67 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 64 more targets are in the full ledger.
Claimed
- Core EBITDA increased 35.1% year-over-year to $394 million in Q4 FY26.
- Core EBITDA margin expanded 100 basis points year-over-year and 60 basis points sequentially to 14.8% in Q4 FY26.
- Net leverage adjusted for acquisitions reduced to 1.9x, below the target of 2x.
- Downstream product volumes grew 8.5% year-on-year in Q4 FY26.
- TAG program achieved over $250 million in gross run rate benefits, with clear line of sight to an additional $100 million by end of FY27.
Qualified
- Construction Solutions Group (Precast) results were below expectations due to residential softness in certain Southeastern markets, impacting adjusted EBITDA.
- Unplanned outage at Galvabar facility affected shipments during Q4 FY26.
- European energy costs are anticipated to increase by a further $10 to $15 per ton in Q1 FY27.
Price
$64.54 −0.68% · −$0.44
Performance +12.5% 1Y
1Y: $57.38 on 17 Oct 2025 → $64.54. High $83.21 (11 Feb 2026), low $56.52 (4 Nov 2025).
- Previous close
- $64.98
- 52-week range
- $56.52 – $83.21
- One year
- +10.10%
Overview
- Symbol
- CMC
- Sector
- Materials
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
29 of 41 judged targets kept · 26 open · verdicts reflect calls analysed to Aug 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Rebar market growth | 1% to 3% | Feb 2026 | if you look, as Peter said, the market is up 4% to 5% in terms of rebar consumption | Achieved |
| Capital expenditures | in the $550 million range | May 2025 | In fiscal '26, total capital spend was approximately $580 million. | Missed |
| Steel West Virginia commissioning start | late part of 2025 | Feb 2025 | Meanwhile, progress at Steel West Virginia is continuing, and we look forward to hot commissioning our newest micro mill later this summer. | Delayed |
Claimed
- Core EBITDA increased 35.1% year-over-year to $394 million in Q4 FY26.
- Core EBITDA margin expanded 100 basis points year-over-year and 60 basis points sequentially to 14.8% in Q4 FY26.
- Net leverage adjusted for acquisitions reduced to 1.9x, below the target of 2x.
- Downstream product volumes grew 8.5% year-on-year in Q4 FY26.
- TAG program achieved over $250 million in gross run rate benefits, with clear line of sight to an additional $100 million by end of FY27.
Qualified
- Construction Solutions Group (Precast) results were below expectations due to residential softness in certain Southeastern markets, impacting adjusted EBITDA.
- Unplanned outage at Galvabar facility affected shipments during Q4 FY26.
- European energy costs are anticipated to increase by a further $10 to $15 per ton in Q1 FY27.
The full ledger
Open COMMERCIAL METALS Co’s full ledger
A free account opens 5 company ledgers a month. All 67 tracked commitments, with each call’s wording and source.
Call summaries
May 2026 (Q3 FY26) — Jun 25, 2026
Commercial Metals Q3 FY26 — Core EBITDA up 78.6% to $353.6M despite temporary outage, scrap and weather headwinds
Read the full callFeb 2026 (Q2 FY26) — Mar 26, 2026
Commercial Metals Company Q2 FY26 — Strong Performance Driven by Precast Acquisition and TAG Program
Read the full callEvery analysed call
Commercial Metals Company earnings calls (CMC)
Financials
What the filings say
Net profit, year on year: +40% (quarter to aug 2026 against aug 2025).
| Line item | Nov 2024 | Feb 2025 | May 2025 | Aug 2025 | Nov 2025 | Feb 2026 | May 2026 | Aug 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 1,910 | 1,754 | 2,020 | 2,115 | 2,120 | 2,132 | 2,483 | 2,658 |
| Expenses | 2,141 | 1,718 | 1,910 | 1,921 | 1,937 | 2,022 | 2,294 | 2,429 |
| Interest | 11 | 11 | 11 | — | 25 | — | — | — |
| Profit before tax | -231 | 36 | 110 | 193 | 183 | 110 | 189 | 229 |
| Tax rate | 24.0% | 29.4% | 24.1% | 21.4% | 3.1% | 15.2% | 8.4% | 7.4% |
| Net profit | -176 | 25 | 83 | 152 | 177 | 93 | 173 | 213 |
| EPS ($ per share) | -1.54 | 0.22 | 0.74 | — | 1.60 | 0.84 | 1.56 | — |
| Line item | Aug 2019 | Aug 2020 | Aug 2021 | Aug 2022 | Aug 2023 | Aug 2024 | Aug 2025 | Aug 2026 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Reserves | 1,585 | 1,808 | 2,163 | 3,312 | 4,097 | 4,504 | 4,507 | 5,079 |
| Total liabilities | 2,135 | 2,192 | 2,344 | 2,951 | 2,518 | 2,518 | 2,979 | 5,561 |
| Fixed assets | 1,501 | 1,571 | 1,566 | 1,911 | 2,409 | 2,577 | 2,743 | 3,454 |
| Total assets | 3,759 | 4,082 | 4,639 | 6,237 | 6,639 | 6,818 | 7,172 | 10,258 |
| Line item | Aug 2019 | Aug 2020 | Aug 2021 | Aug 2022 | Aug 2023 | Aug 2024 | Aug 2025 | Aug 2026 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 37 | 791 | 228 | 700 | 1,344 | 900 | 715 | 1,059 |
| Cash from investing | -462 | -193 | -162 | -685 | -835 | -323 | -347 | -3,062 |
| Cash from financing | -13 | -248 | -109 | 165 | -599 | -314 | -183 | 1,736 |
| Net cash flow | -439 | 351 | -44 | 178 | -84 | 264 | 186 | -267 |
| Capital expenditure | -139 | -188 | -184 | -450 | -607 | -324 | -403 | -580 |
| Free cash flow | -102 | 604 | 44 | 250 | 737 | 575 | 312 | 479 |
CMC revenue by segment
North America Steel Group shrank from 80% to 73% of revenue over the last two years.
| Segment | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | Q3 FY2026 | Q4 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| North America Steel Group | 80% | 80% | 78% | 77% | 79% | 77% | 73% | 74% | +20.1% |
| Europe Steel Group | 11% | 11% | 12% | 12% | 12% | 9% | 12% | 11% | +6.9% |
| Corporate and Other | -1% | -1% | -1% | -1% | -1% | -1% | -1% | -1% | — |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
Insider filings
89 filings between Oct 20, 2025 and Oct 14, 2026.
Open market
decisions to buy or sellPurchases
$853.9K
5 purchases by 3 insiders
Sales
$2.38M
2 sales by 2 insiders
Compensation
not trading decisions- 52
- Award — granted as compensation
- 29
- Tax withheld — shares kept back by the company to cover tax
Also filed: 1 gift.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| DURBIN JENNIFER J | — | $2.00M | Feb 3, 2026 |
| MATT PETER R | $504.5K | — | Jul 10, 2026 |
| Halloran Brian N. | — | $373.1K | Oct 31, 2025 |
| McPherson John R | $200.0K | — | Aug 13, 2026 |
| ARRIOLA DENNIS V | $149.4K | — | Jan 20, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Oct 14, 2026 | MATT PETER R President and CEO | Tax withheld | 5,642 | $365.4K |
| Oct 14, 2026 | ABSHER JODY K SVP, Chief Legal Officer & Sec | Tax withheld | 1,391 | $90.1K |
| Oct 14, 2026 | Doucet Michael SVP, EBG & Chief Comm. Officer | Tax withheld | 1,022 | $66.2K |
| Oct 14, 2026 | SLOAN LINDSAY L VP & Chief Accounting Officer | Tax withheld | 243 | $15.7K |
| Oct 14, 2026 | ABSHER JODY K SVP, Chief Legal Officer & Sec | Tax withheld | 1,385 | $89.7K |
| Oct 14, 2026 | LAWRENCE PAUL JAMES SVP & Chief Financial Officer | Tax withheld | 1,859 | $120.4K |
| Oct 14, 2026 | LAWRENCE PAUL JAMES SVP & Chief Financial Officer | Tax withheld | 2,004 | $129.8K |
| Oct 14, 2026 | Halloran Brian N. SVP, N. America Steel Group | Tax withheld | 450 | $29.1K |
| Oct 14, 2026 | MATT PETER R President and CEO | Tax withheld | 5,343 | $346.1K |
| Oct 14, 2026 | Doucet Michael SVP, EBG & Chief Comm. Officer | Tax withheld | 435 | $28.2K |
| Oct 14, 2026 | SLOAN LINDSAY L VP & Chief Accounting Officer | Tax withheld | 245 | $15.9K |
| Oct 14, 2026 | Halloran Brian N. SVP, N. America Steel Group | Tax withheld | 906 | $58.7K |
| Oct 14, 2026 | Ghelani Kekin SVP, Chief Strategy Officer | Tax withheld | 608 | $39.4K |
| Oct 14, 2026 | Doucet Michael SVP, EBG & Chief Comm. Officer | Tax withheld | 985 | $63.8K |
| Oct 14, 2026 | Ghelani Kekin SVP, Chief Strategy Officer | Tax withheld | 1,222 | $79.1K |
| Oct 14, 2026 | Ghelani Kekin SVP, Chief Strategy Officer | Tax withheld | 1,270 | $82.3K |
| Oct 12, 2026 | SLOAN LINDSAY L VP & Chief Accounting Officer | Award | 2,194 | $0 |
| Oct 12, 2026 | Ghelani Kekin SVP, Chief Strategy Officer | Award | 9,364 | $0 |
| Oct 12, 2026 | MATT PETER R President and CEO | Award | 49,934 | $0 |
| Oct 12, 2026 | Halloran Brian N. SVP, N. America Steel Group | Tax withheld | 1,524 | $97.4K |
| Oct 12, 2026 | Halloran Brian N. SVP, N. America Steel Group | Award | 4,709 | $0 |
| Oct 12, 2026 | Halloran Brian N. SVP, N. America Steel Group | Award | 9,676 | $0 |
| Oct 12, 2026 | Doucet Michael SVP, EBG & Chief Comm. Officer | Award | 5,887 | $0 |
| Oct 12, 2026 | Haas Keith SVP, Precast Group | Award | 7,510 | $0 |
| Oct 12, 2026 | LAWRENCE PAUL JAMES SVP & Chief Financial Officer | Award | 13,806 | $0 |
| Oct 12, 2026 | LAWRENCE PAUL JAMES SVP & Chief Financial Officer | Tax withheld | 5,433 | $347.1K |
| Oct 12, 2026 | Doucet Michael SVP, EBG & Chief Comm. Officer | Tax withheld | 2,317 | $148.0K |
| Oct 12, 2026 | LAWRENCE PAUL JAMES SVP & Chief Financial Officer | Award | 13,753 | $0 |
| Oct 12, 2026 | ABSHER JODY K SVP, Chief Legal Officer & Sec | Award | 8,348 | $0 |
| Oct 12, 2026 | SLOAN LINDSAY L VP & Chief Accounting Officer | Tax withheld | 499 | $31.9K |
| Oct 12, 2026 | Doucet Michael SVP, EBG & Chief Comm. Officer | Award | 9,598 | $0 |
| Oct 12, 2026 | ABSHER JODY K SVP, Chief Legal Officer & Sec | Tax withheld | 3,285 | $209.9K |
| Oct 12, 2026 | MATT PETER R President and CEO | Award | 57,795 | $0 |
| Oct 12, 2026 | MATT PETER R President and CEO | Tax withheld | 22,743 | $1.45M |
| Oct 12, 2026 | ABSHER JODY K SVP, Chief Legal Officer & Sec | Award | 11,486 | $0 |
| Oct 12, 2026 | SLOAN LINDSAY L VP & Chief Accounting Officer | Award | 2,046 | $0 |
| Oct 9, 2026 | LAWRENCE PAUL JAMES SVP & Chief Financial Officer | Tax withheld | 1,761 | $111.1K |
| Oct 9, 2026 | Doucet Michael SVP, EBG & Chief Comm. Officer | Tax withheld | 751 | $47.4K |
| Oct 9, 2026 | MATT PETER R President and CEO | Tax withheld | 4,913 | $310.0K |
| Oct 9, 2026 | ABSHER JODY K SVP, Chief Legal Officer & Sec | Tax withheld | 1,065 | $67.2K |
| Oct 9, 2026 | SLOAN LINDSAY L VP & Chief Accounting Officer | Tax withheld | 162 | $10.2K |
| Oct 9, 2026 | Halloran Brian N. SVP, N. America Steel Group | Tax withheld | 494 | $31.2K |
| Oct 1, 2026 | McPherson John R Director | Award | 577 | $36.2K |
| Oct 1, 2026 | MCCULLOUGH GARY E Director | Award | 577 | $36.2K |
| Aug 13, 2026 | McPherson John R Director | Purchase | 1,390 | $100.0K |
| Jul 15, 2026 | HICKTON DAWNE S Director | Award | 4 | $270 |
| Jul 15, 2026 | ARRIOLA DENNIS V Director | Award | 22 | $1.5K |
| Jul 15, 2026 | Perkins Tandra C Director | Award | 19 | $1.3K |
| Jul 15, 2026 | WETHERBEE ROBERT S Director | Award | 7 | $472 |
| Jul 15, 2026 | McPherson John R Director | Award | 42 | $2.8K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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