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Reported Q: Q3 2025 Rev YoY: -2.8% EPS YoY: -28.2% Move: +0.04%

Commercial Metals Company

CMC

$83.00 0.04%

Exchange NYSE Sector Basic Materials Industry Steel

Q3 2025

Published: Jun 24, 2025

Company Status Snapshot

Fast view of the latest quarter outcome for CMC

Reported

Report Date

Jun 24, 2025

Quarter Q3 2025

Revenue

2.02B

YoY: -2.8%

EPS

0.73

YoY: -28.2%

Market Move

+0.04%

Previous quarter: Q2 2025

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Earnings Highlights

Revenue of $2.02B down 2.8% year-over-year
EPS of $0.73 decreased by 28.2% from previous year
Gross margin of 14.8%
Net income of 83.13M
"TAG efforts to yield approximately $50 million of EBITDA benefit in fiscal year 2025 relative to a fiscal year 2024 baseline; looking ahead, initiatives will provide annual run rate EBITDA benefits of over $100 million when fully realized." - Peter Matt, CEO

CMC

Company CMC

Period Q3 2025

Currency USD

Report Type Quarterly Earnings

Generated Feb 11, 2026

Executive Summary

Commercial Metals Company (CMC) delivered a solid Q3 FY2025 result, highlighting a sequential rebound in profitability even as year-ago comparisons remained challenging. Revenue of $2.02 billion reflected a modest YoY decline of 2.8% but a robust QoQ increase of 15.1%, as management noted a trough in Q2 and an improving construction backdrop entering the 2025/36 season. Core EBITDA of $204.1 million produced a 10.1% margin, signaling meaningful operating leverage as North American steel margins recovered from cycle troughs. Net income of $83.1 million ($0.73 per diluted share) and adjusted earnings of $84.4 million ($0.74 per diluted share) reaffirm the company’s ability to convert higher finished steel and proprietary products volumes into cash flow, even in a cost-competitive environment.

Key Performance Indicators

Revenue

Decreasing

2.02B

QoQ: 15.14% | YoY: -2.81%

Gross Profit

Decreasing

299.92M

14.85% margin

QoQ: 36.61% | YoY: -11.89%

Operating Income

Decreasing

124.15M

QoQ: 138.81% | YoY: -28.00%

Net Income

Decreasing

83.13M

QoQ: 226.33% | YoY: -30.40%

EPS

Decreasing

0.74

QoQ: 236.36% | YoY: -28.16%

Revenue Trend

Margin Analysis

Financial Highlights

- Revenue: $2.02B; YoY -2.81%, QoQ +15.14%
- Gross profit: $299.9M; gross margin 14.85%
- Operating income: $124.2M; operating margin 6.15%
- Net income: $83.1M; net margin 4.12%
- EPS: $0.73 (diluted); adjusted EPS: $0.74
- Core EBITDA: $204.1M; core EBITDA margin 10.1%
- North America Steel Group EBITDA: $186.0M; margin ~11.9%
- Europe Steel Group EBITDA: $3.6M (adjusted) vs. loss year-ago; Emerging Businesses EBITDA: $40.9M
- Free cash flow: $64.95M; CFO: $154.4M; capex: $89.5M
- Cash and equivalents: $893M; Total debt: $1.344B; Net debt: $451.2M
- Leverage and liquidity: ~1.7x liquidity cushion; cash equity position: $4.10B; Net debt to EBITDA policy target <2.0x (management guidance)
- Capex guidance: 2025 baseline capex now $425–$475M (down from $550–$600M); WV capex ~ $300M in 2025; total WV-related investments to complete in 2026; IRA credits estimated ~$80M benefit

Income Statement

Metric	Value	YoY Change	QoQ Change
Revenue	2.02B	-2.81%	15.14%
Gross Profit	299.92M	-11.89%	36.61%
Operating Income	124.15M	-28.00%	138.81%
Net Income	83.13M	-30.40%	226.33%
EPS	0.74	-28.16%	236.36%

Key Financial Ratios

Gross Profit Margin

Weak

14.80%

Gross profit margin is below industry norms, profitability concerns

Operating Profit Margin

Fair

6.15%

Operating margin is moderate, room for improvement in cost management

Net Profit Margin

Fair

4.12%

Net profit margin is moderate, room for improvement in cost management

Return on Assets

Weak

1.19%

Return on assets suggests inefficient capital allocation

Return on Equity

Weak

2.03%

Return on equity suggests inefficient capital allocation

Current Ratio

Strong

2.86

Current ratio indicates excellent liquidity and financial flexibility

Debt to Equity

Moderate

0.33

Debt-to-equity indicates balanced capital structure with manageable debt

P/E Ratio

Fair Value

15.79x

P/E ratio in line with market averages

Price to Book

Fair Value

1.28x

Price-to-book ratio reasonable for profitable companies

Historical Earnings Comparison

Period	Revenue ($M)	EPS ($)	YoY Growth	Report
Q1 2026	2,120.31	1.58	+6.2%	View
Q3 2025	2,019.98	0.73	-2.8%	View
Q2 2025	1,754.38	0.22	-5.1%	View
Q1 2025	1,909.60	-1.54	-4.7%	View
Q4 2024	1,996.15	0.90	-9.6%	View

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Company Status Snapshot

Earnings Highlights

Executive Summary

Key Performance Indicators

Revenue Trend

Margin Analysis

Financial Highlights

Income Statement

Key Financial Ratios

Management Insights Available for Members

Peer Comparison Available for Members

Investment Outlook & SWOT Available for Members

Historical Earnings Comparison

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