IRVING,
Texas, Dec. 14, 2023 /PRNewswire/ -- Commercial
Metals Company (NYSE: CMC) ("CMC" or the "Company") today announced
that beginning with its first quarter of fiscal 2024, the Company
will report financial results reflecting a realigned reporting
structure, with three reportable segments: North America Steel
Group, Europe Steel Group, and Emerging Businesses Group.
- North America Steel Group is primarily composed of all
recycling, steel mill, rebar fabrication, fence post fabrication,
and post-tension cable operations that were previously included
within the Company's former North
America segment.
- Europe Steel Group is primarily composed of all recycling,
steel mill, and steel fabrication operations that were previously
included within the Company's former Europe segment.
- Emerging Businesses Group is composed of the Company's
Tensar® geogrid and
Geopier®, CMC Construction Services™, Performance
Reinforcing Steel, CMC Anchoring Systems, and Impact Metals™
operations. These were previously reported as part of the
Company's former North America
segment, with the exception of geogrid operations located outside
of North America, which were
included within the Company's former Europe segment.
- The Company's reporting for Corporate and Eliminations is
unchanged.
Peter R. Matt, President and
Chief Executive Officer, said, "Our realigned reporting structure
better reflects how we view our operations and manage our Company,
and provides important insights into the factors that drive value
creation and the role of each segment within CMC's strategy and
future growth plans."
The realignment of CMC's operating segment structure corresponds
directly to recent structural changes made within the
organization. The decision to adjust segment reporting was
made to better reflect: (i) the evolution of the Company's
solutions offerings outside of traditional steel products, (ii) the
growing importance of non-steel solutions to CMC's financial
results and future outlook, and (iii) the Company's chief operating
decision maker's approach to performance assessment, strategic
decision-making, and the allocation of capital resources.
The announced realignment impacts only the Company's segment
reporting, and does not affect CMC's previous consolidated results.
Operational and financial statistics for fiscal years 2022 and 2023
under the new reporting structure can be found on pages 3 and 4 of
this release.
For additional resources outlining the announced changes, please
follow this link (https://ir.cmc.com/ir-toolkit), or visit our
Investor Relations website at cmc.com/investors.
About CMC
CMC is an innovative solutions provider
helping build a stronger, safer, and more sustainable world.
Through an extensive manufacturing network principally located in
the United States and Central Europe, we offer products and
technologies to meet the critical reinforcement needs of the global
construction sector. CMC's solutions support construction across a
wide variety of applications, including infrastructure,
non-residential, residential, industrial, and energy generation and
transmission.
|
COMMERCIAL METALS
COMPANY
FINANCIAL &
OPERATING STATISTICS (UNAUDITED)
|
|
|
Three Months
Ended
|
|
(in thousands,
except per ton amounts)
|
|
8/31/2023
|
|
5/31/2023
|
|
2/28/2023
|
|
11/30/2022
|
|
8/31/2022
|
|
5/31/2022
|
|
2/28/2022
|
|
11/30/2021
|
|
North America Steel
Group
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net sales from external
customers
|
|
$
1,717,979
|
|
$
1,818,391
|
|
$
1,503,774
|
|
$
1,664,161
|
|
$
1,821,993
|
|
$
1,894,928
|
|
$
1,518,644
|
|
$
1,562,840
|
|
Adjusted
EBITDA
|
|
336,843
|
|
367,561
|
|
274,240
|
|
349,787
|
|
343,054
|
|
357,010
|
|
523,771
|
|
258,832
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
External tons
shipped
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Raw
materials
|
|
344
|
|
409
|
|
321
|
|
316
|
|
359
|
|
353
|
|
329
|
|
334
|
|
Rebar
|
|
542
|
|
539
|
|
425
|
|
461
|
|
451
|
|
505
|
|
407
|
|
442
|
|
Merchant bar and
other
|
|
215
|
|
249
|
|
235
|
|
243
|
|
249
|
|
274
|
|
244
|
|
257
|
|
Steel
products
|
|
757
|
|
788
|
|
660
|
|
704
|
|
700
|
—
|
779
|
—
|
651
|
|
699
|
|
Downstream
products
|
|
387
|
|
382
|
|
315
|
|
382
|
|
433
|
|
399
|
|
327
|
|
400
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average selling price
per ton
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Raw
materials
|
|
$
838
|
|
$
833
|
|
$
868
|
|
$
824
|
|
$
950
|
|
$ 1,207
|
|
$ 1,103
|
|
$ 1,034
|
|
Steel
products
|
|
932
|
|
979
|
|
985
|
|
1,020
|
|
1,104
|
|
1,110
|
|
1,041
|
|
976
|
|
Downstream
products
|
|
1,428
|
|
1,452
|
|
1,421
|
|
1,399
|
|
1,348
|
|
1,244
|
|
1,169
|
|
1,092
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of raw materials
per ton
|
|
$
606
|
|
$
619
|
|
$
639
|
|
$
598
|
|
$
717
|
|
$
908
|
|
$
834
|
|
$
766
|
|
Cost of ferrous scrap
utilized per ton
|
|
$
338
|
|
$
384
|
|
$
346
|
|
$
325
|
|
$
387
|
|
$
472
|
|
$
436
|
|
$
428
|
|
Steel products metal
margin per ton
|
|
$
594
|
|
$
595
|
|
$
639
|
|
$
695
|
|
$
717
|
|
$
638
|
|
$
605
|
|
$
548
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Europe Steel
Group
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net sales from external
customers
|
|
$
273,961
|
|
$
330,767
|
|
$
337,560
|
|
$
386,503
|
|
$
393,858
|
|
$
474,523
|
|
$
395,349
|
|
$
328,562
|
|
Adjusted
EBITDA
|
|
(30,081)
|
|
5,837
|
|
11,469
|
|
61,248
|
|
63,580
|
|
120,098
|
|
81,149
|
|
79,832
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
External tons
shipped
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Rebar
|
|
151
|
|
146
|
|
183
|
|
204
|
|
177
|
|
170
|
|
172
|
|
103
|
|
Merchant bar and
other
|
|
238
|
|
283
|
|
253
|
|
269
|
|
251
|
|
306
|
|
278
|
|
262
|
|
Steel
products
|
|
389
|
|
429
|
|
436
|
|
473
|
|
428
|
|
476
|
|
450
|
|
365
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average selling price
per ton
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Steel
products
|
|
$
682
|
|
$
753
|
|
$
756
|
|
$
792
|
|
$
888
|
|
$
967
|
|
$
851
|
|
$
869
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of ferrous scrap
utilized per ton
|
|
$
398
|
|
$
427
|
|
$
389
|
|
$
366
|
|
$
435
|
|
$
530
|
|
$
444
|
|
$
434
|
|
Steel products metal
margin per ton
|
|
$
284
|
|
$
326
|
|
$
367
|
|
$
426
|
|
$
453
|
|
$
437
|
|
$
407
|
|
$
435
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Emerging Businesses
Group
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net sales from external
customers
|
|
$
208,559
|
|
$
189,055
|
|
$
153,598
|
|
$
170,534
|
|
$
191,459
|
|
$
147,695
|
|
$
95,580
|
|
$
90,782
|
|
Adjusted
EBITDA
|
|
42,612
|
|
38,395
|
|
26,551
|
|
31,427
|
|
27,978
|
|
23,221
|
|
11,692
|
|
9,692
|
|
COMMERCIAL METALS
COMPANY
FINANCIAL &
OPERATING STATISTICS (UNAUDITED)
|
|
|
Twelve Months Ended
August 31,
|
|
(in thousands,
except per ton amounts)
|
|
2023
|
|
2022
|
|
North America Steel
Group
|
|
|
|
|
|
Net sales from external
customers
|
|
$
6,704,305
|
|
$
6,798,405
|
|
Adjusted
EBITDA
|
|
1,328,431
|
|
1,482,667
|
|
|
|
|
|
|
External tons
shipped
|
|
|
|
|
|
Raw
materials
|
|
1,390
|
|
1,375
|
|
Rebar
|
|
1,967
|
|
1,805
|
|
Merchant bar and
other
|
|
942
|
|
1,024
|
|
Steel
products
|
|
2,909
|
|
2,829
|
|
Downstream
products
|
|
1,466
|
|
1,559
|
|
|
|
|
|
|
Average selling price
per ton
|
|
|
|
|
|
Raw
materials
|
|
$
840
|
|
$
1,073
|
|
Steel
products
|
|
977
|
|
1,059
|
|
Downstream
products
|
|
1,425
|
|
1,218
|
|
|
|
|
|
|
Cost of raw materials
per ton
|
|
$
615
|
|
$
807
|
|
Cost of ferrous scrap
utilized per ton
|
|
$
349
|
|
$
431
|
|
Steel products metal
margin per ton
|
|
$
628
|
|
$
628
|
|
|
|
|
|
|
Europe Steel
Group
|
|
|
|
|
|
Net sales from external
customers
|
|
$
1,328,791
|
|
$
1,592,292
|
|
Adjusted
EBITDA
|
|
48,473
|
|
344,659
|
|
|
|
|
|
|
External tons
shipped
|
|
|
|
|
|
Rebar
|
|
684
|
|
622
|
|
Merchant bar and
other
|
|
1,043
|
|
1,097
|
|
Steel
products
|
|
1,727
|
|
1,719
|
|
|
|
|
|
|
Average selling price
per ton
|
|
|
|
|
|
Steel
products
|
|
$
749
|
|
$
896
|
|
|
|
|
|
|
Cost of ferrous scrap
utilized per ton
|
|
$
395
|
|
$
463
|
|
Steel products metal
margin per ton
|
|
$
354
|
|
$
433
|
|
|
|
|
|
|
Emerging Businesses
Group
|
|
|
|
|
|
Net sales from external
customers
|
|
$
721,746
|
|
$
525,516
|
|
Adjusted
EBITDA
|
|
138,985
|
|
72,583
|
View original
content:https://www.prnewswire.com/news-releases/cmc-announces-changes-to-segment-reporting-302014996.html
SOURCE Commercial Metals Company