$CMC (Commercial Metals Company)

$CMC {{ '2016-06-23T15:27:33+0000' | timeago}} • Webcast

Metal products manufacturer $CMC said overall 3Q16 was a strong qtr. Four of the company's five segments reported increased shipments compared to 3Q15. Shipments were driven by increased rebar demand from the non-residential construction market. The Americas Fabrication segment benefited from reduced raw material input costs in 3Q16.

$CMC {{ '2018-01-03T12:16:27+0000' | timeago}} • Announcement

$CMC agreed to buy certain U.S. rebar assets from Gerdau S.A. including 4 mini mills and 33 rebar fabrication facilities. $CMC believes this is ideal strategic fit with $CMC given existing expertise in concrete reinforcing products and services. $CMC sees significant opportunity for cost synergies and value creation for customers and shareholders.

$CMC {{ '2018-01-03T12:14:34+0000' | timeago}} • Announcement

$CMC said it normally experiences lower shipment levels due to winter weather conditions impairing construction activity as well as a reduced number of shipping days during 2Q. However, $CMC sees strength in the underlying market fundamentals supporting each of its segments as it enter CY18.

$CMC {{ '2018-01-03T12:14:18+0000' | timeago}} • Announcement

$CMC's Americas Fabrication segment recorded an adjusted operating loss of $4.8MM for 1Q18 compared to a profit of $6.7MM a year ago. The average selling price was similar to last year, however raw material rebar prices have increase resulting in the losses suffered during the recent quarters.

$CMC {{ '2018-01-03T12:13:33+0000' | timeago}} • Announcement

$CMC's Americas Mills segment recorded adjusted operating profit of $40.8MM for 1Q18, up from $36.9MM a year earlier. The segment had a strong shipping quarter as non-residential construction activity remains high. While metal margins were relatively flat, they were $14 per ton higher than 4Q17.

$CMC {{ '2018-01-03T12:13:16+0000' | timeago}} • Announcement

$CMC's Amercias Recycling segment recorded adjusted operating profit of $9.9MM for 1Q18 compared to a loss of $5.1MM a year ago, on strong volumes and a rise in non-ferrous prices. Shipment volumes climbed 44% on higher domestic steel manufacturing utilization rates and the impact of the acquisition of yards.

$CMC {{ '2018-01-03T12:12:59+0000' | timeago}} • Announcement

$CMC reported a rise in 1Q18 earnings driven by robust demand from the construction sector in both the Americas Mills and International Mill segments. Net income rose to $36.81MM or $0.31 per share from $6.28MM or $0.05 per share last year. Net sales grew to $1.24Bil from $994.1MM.

$CMC {{ '2017-08-31T22:18:59+0000' | timeago}} • Announcement

$CMC completed the sale of its raw materials trading division, CMC Cometals, to Traxys North America LLC and Traxys Europe SA, for a total consideration of approx. $179MM, subject to adjustment. CMC Cometals markets, distributes and processes metal, ores, concentrates, industrial minerals, ferroalloys, chemicals and industrial products worldwide.

$CMC {{ '2017-06-30T12:21:11+0000' | timeago}} • Announcement

$CMC said it has agreed to sell $300MM aggregate principal amount of its 5.375% senior notes due 2027 in a public offering, under the company’s shelf registration statement. The offering is expected to close by July 11, 2017. The net proceeds from the offering will be used mainly for a cash tender offer for outstanding 7.35% senior notes due 2018.

$CMC {{ '2017-06-26T14:23:11+0000' | timeago}} • Announcement

$CMC has appointed Barbara Smith as President and CEO, effective September 1, 2017. Smith, who has been serving as President and COO since January 2017, will also become a member of the BoD.  She joined Commercial Metals in May 2011 as SVP and CFO, and took up the role of COO in January 2016.

$CMC {{ '2017-06-22T15:44:45+0000' | timeago}} • Webcast

$CMC said metal spread compresses over time and so margin expansion will also take time. There is excess capacity in the US in the rebar sector. As the tariffs start to take effect, it will benefit rebar producers by giving relief on the margin side and also additional volume to take up some of the flat capacity in the US.

$CMC {{ '2017-06-22T15:29:37+0000' | timeago}} • Webcast

During 3Q17, $CMC’s Americas Recycling segment posted adjusted operating profit of $9.3MM while the Americas Mills segment recorded adjusted operating profit of $50.7MM. Adjusted operating profit for the Americas Fabrication segment was $1.8MM. The International Mills segment adjusted operating profit was $13MM.

$CMC {{ '2017-06-22T11:31:59+0000' | timeago}} • Announcement

$CMC continues to be optimistic that the ongoing trade actions taken in both the U.S. and Poland, once finalized, will provide some relief from the flood of unfairly priced rebar imports that have impacted its markets. Also, the BoD declared a quarterly dividend of $0.12 per share, payable on July 20, 2017 to shareholders of record on July 6, 2017.

$CMC {{ '2017-06-22T11:30:04+0000' | timeago}} • Announcement

$CMC anticipates stability in the key macro economic drivers that impact its business for the remainder of FY17, including continued strong demand in both the US and Polish markets and also historically low steel margins in the US.

$CMC {{ '2017-06-22T11:28:05+0000' | timeago}} • Announcement

$CMC reported a jump in 3Q17 earnings driven by higher sales and lower non-cash impairment charge on businesses held for sale in discontinued operations. Net income rose to $39.27MM or $0.34 per share from $19.33MM or $0.17 per share last year. Sales grew to $1.38Bil from $1.23Bil.

$CMC {{ '2017-06-13T13:33:00+0000' | timeago}} • Announcement

Metal manufacturer $CMC has decided to exit its International Marketing and Distribution segment. As part of the move, Commercial Metals Company and its subsidiary CMC Cometals signed a definitive agreement to sell the raw materials trading division, CMC Cometals, to affiliates of Carlyle Group. The transaction is expected to close this summer.

$CMC {{ '2017-03-23T16:39:11+0000' | timeago}} • Webcast

$CMC said its mill operations in the US and Poland are running well. The company does not expect any major outages to come up over the coming quarters and so it anticipates that if demand and utilization rates remain at current levels, there will be good conversion costs at the mills.

$CMC {{ '2017-03-23T16:28:45+0000' | timeago}} • Webcast

$CMC has been seeing metal margin compression for the past few quarters and there has been continued downward pressure in particular on the rebar side. This is due to import pressure and pricing at below normal market pricing. There is still an inventory overhang that persists in the market. $CMC is taking steps to work through the compression.

$CMC {{ '2017-03-23T16:11:30+0000' | timeago}} • Webcast

$CMC had a milder winter in the Central region and to some degree in the East region which was helpful in the flow of construction projects and shipments to both internal and third-party fabricators. In the West region, the company was afflicted by the heavy rains in California and saw wider shipments due to the weather.

$CMC {{ '2017-03-23T15:53:43+0000' | timeago}} • Webcast

$CMC's International Mill segment in Poland recorded adjusted operating profit of $9.4MM for 2Q17 compared to $2MM in 2Q16. The International Marketing and Distribution segment recorded adjusted operating profit of $6.1MM for 2Q17 compared to an adjusted operating loss of $2.3MM for 2Q16.

$CMC {{ '2017-03-23T15:53:13+0000' | timeago}} • Webcast

$CMC's Americas Recycling segment reported adjusted operating profit of $7.8MM in 2Q17 compared to an adjusted operating loss of $7.6MM in 2Q16. The Americas Mills segment posted adjusted operating profit of $51.3MM and the Americas Fabrication segment posted adjusted operating profit of $0.5MM in 2Q17.

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