| Metric | Value ($ M) | Q2 FY26 | Q3 FY25 |
|---|---|---|---|
| Revenue | 2.5K | 16.5% | 22.9% |
| Total Income | 2.5K | 16.5% | 22.9% |
| Expenditure | 2.3K | 13.5% | 20.1% |
| PBT | 188.84 | 72.1% | 72.4% |
| Net Profit | 173.02 | 86.0% | 108.1% |
| OPM | — | ||
| NPM | 6.97% | 2.60pp | 2.85pp |
| EPS | 1.56 | 85.7% | 110.8% |
CMC Reports Q3 FY26 Results: Net Earnings $173.0M, Core EBITDA $353.6M
25 Jun 2026 · 25 Jun, 5:51 pm
Summary
CMC reported strong financial results for its fiscal third quarter ended May 31, 2026. Net earnings reached $173.0 million ($1.55 per diluted share), with adjusted earnings at $193.0 million ($1.73 per diluted share), marking a 147.1% increase year-over-year on a per-share basis. Consolidated core EBITDA surged 78.6% year-over-year to $353.6 million, and the core EBITDA margin expanded by 440 basis points to 14.2%. The company also made significant progress in deleveraging its balance sheet, achieving net leverage below 2.1x. Management expressed optimism about the company's strategic progress and outlook, anticipating a strong finish to fiscal 2026.
Key Highlights
- 1
Third quarter net earnings were $173.0 million, or $1.55 per diluted share, with adjusted earnings at $193.0 million, or $1.73 per diluted share.
- 2
Consolidated core EBITDA increased 78.6% year-over-year to $353.6 million, driven by strong market conditions, TAG initiatives, and acquired precast businesses.
- 3
Consolidated core EBITDA margin expanded by 440 basis points year-over-year to 14.2%.
- 4
Net leverage was reduced, with clear visibility to below 2x well ahead of the mid-2027 goal.
- 5
North America Steel Group adjusted EBITDA increased 41% year-over-year to $253.5 million, driven by higher margins.
- 6
Construction Solutions Group net sales doubled year-over-year to $394.6 million, with adjusted EBITDA up 138.1% to $97.4 million, fueled by precast acquisitions.
- 7
Europe Steel Group generated adjusted EBITDA of $34.7 million, a significant increase from $3.6 million in the prior year period, benefiting from improved market conditions and a CO₂ credit.
Management Comments
Peter Matt
During our fiscal third quarter, we continued to make great progress on our strategic agenda across a number of fronts. We substantially grew Core EBITDA, and made meaningful progress deleveraging our balance sheet. Our early-stage construction portfolio is benefiting from solid demand, along with strong booking and backlogs at attractive prices. The commercial and operating rigor that define CMC, together with the growing benefits of our TAG program, position the Company to deliver strong results in the fourth quarter and beyond. Looking to the fourth quarter, supported by favorable market conditions, robust backlogs, and our strategic initiatives currently underway, we are well positioned to finish fiscal 2026 on very strong footing. We look forward to providing additional updates on our long-term strategy, operations, and financial performance at our upcoming Investor Day in August.
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