Commercial Metals Co

Latest Results (25.12.2024):

Net Earnings

Commercial Metals Co reported net earnings of $103.9 million, or $0.90 per diluted share, for the fourth quarter of fiscal 2024. This is a decrease compared to the prior year period, which saw net earnings of $184.2 million, or $1.56 per diluted share. For the full fiscal year 2024, net earnings were $485.5 million, or $4.14 per diluted share, down from $859.8 million, or $7.25 per diluted share, in the previous year.

Revenue

In the fourth quarter of fiscal 2024, Commercial Metals Co achieved net sales of $2.0 billion, a decline from $2.2 billion in the same period the previous year. For the entire fiscal year 2024, the company reported net sales of $7.9 billion, compared to $8.8 billion in fiscal 2023.

EBITDA Performance

Commercial Metals Co's consolidated core EBITDA for the fourth quarter of fiscal 2024 was $227.1 million, with a core EBITDA margin of 11.4%. The North America Steel Group's adjusted EBITDA decreased to $210.9 million from $336.8 million in the prior year period, while the Europe Steel Group reported an adjusted EBITDA loss of $3.6 million, showing improvement from previous quarters.

Cash Flow and Shareholder Returns

The company generated strong cash flow from operating activities, amounting to $351.8 million in the fourth quarter and $899.7 million for the fiscal year 2024. Cash distributions to shareholders, including share repurchases and dividends, totaled $261.8 million for the year, marking a 48% increase compared to fiscal 2023.

Outlook

Commercial Metals Co anticipates a decline in consolidated financial results for the first quarter of fiscal 2025 due to ongoing macroeconomic uncertainty. The company expects normal seasonal trends in finished steel shipments within the North America Steel Group, while the Europe Steel Group's adjusted EBITDA is projected to increase significantly due to an annual CO2 credit. The Emerging Businesses Group is expected to experience a decline due to seasonality and economic uncertainty.