Commercial Metals Company Q4 2026 Earnings Recap

CMC’s shares fell 0.5% after earnings, a roughly flat reaction. Full-year and fourth-quarter EBITDA increased, but results were mixed: management said Construction Solutions fell short of expectations, with residential softness and regional margin mix weighing on Precast.

Key Takeaways

• Fiscal 2026 core EBITDA was approximately $1.4 billion, up from $837 million in fiscal 2025; core EBITDA margin expanded 380 basis points to 14.5%.
• Fourth-quarter core EBITDA rose 35.1% year over year to approximately $394 million, with margin at 14.8%.
• North American Steel Group benefited from TAG initiatives; downstream product volumes grew 8.5% year over year, and segment margins increased 22 basis points sequentially.
• Construction Solutions results were below expectations, primarily due to Precast: residential softness in some Southeastern markets contributed to lower volumes and regional margin-mix headwinds. Precast reported $57.1 million of quarterly adjusted EBITDA.
• Precast bookings increased 12.6% sequentially; backlog was up roughly 3% year over year, with average backlog pricing trending higher.