C

Commercial Metals

Recycling-based steel production and fabrication

Overview

Commercial Metals Company (CMC) manufactures steel and metal products in a vertically integrated model that spans recycling, steel production, and fabrication. It runs recycling plants to collect and process scrap metal, which serves as the main raw material for its mills. The steel mills produce products such as rebar, merchant bar, and wire rod, which are sold mainly to the construction industry for infrastructure, commercial, and residential projects. CMC also operates fabrication facilities that customize steel products by cutting, bending, and other processing to meet customer needs. The company mainly serves customers in the United States and Europe and maintains control over the entire supply chain—from scrap sourcing to finished products—giving it cost advantages and tighter quality control over the final materials.

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About Commercial Metals

Simplify's Rating
Why Commercial Metals is rated
B-
Rated B on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

Industrial & Manufacturing

Company Size

N/A

Company Stage

IPO

Headquarters

Irving, TX

Founded

1915

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What believers are saying

  • Fiscal 2026 core EBITDA hit $1.4 billion, up from $837.3 million last year.
  • CMC reduced adjusted net leverage to 1.9x and raised its quarterly dividend to $0.20.
  • October 15, 2026 results showed $2.66 billion revenue and stronger Europe and merchant-bar demand.

What critics are saying

  • Pacific Steel Group won a $110 million antitrust verdict against CMC on November 5, 2024.
  • Paul Lawrence retires; Kenji Hashimoto starts November 16, 2026, risking execution during a CFO handoff.
  • Residential weakness already hit precast margins; a construction downturn would crush the 2029 EBITDA plan.

What makes Commercial Metals unique

  • CMC’s vertical integration ties scrap, steelmaking, and fabrication into one margin engine.
  • TAG program and West Virginia micro mill target structurally higher through-cycle EBITDA by 2029.
  • Construction Solutions plus precast acquisitions broaden CMC beyond commodity rebar into infrastructure systems.

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Funding

Total Funding

$150M

Above

Industry Average

Funded Over

1 Rounds

Post IPO Debt funding comparison data is currently unavailable. We're working to provide this information soon!
Post IPO Debt Funding Comparison Coming Soon

Benefits

  • Health Insurance
  • Dental Insurance
  • Vision Insurance
  • Paid Vacation
  • 401(k) Retirement Plan
  • 401(k) Company Match
  • Life Insurance
  • Disability Insurance
  • Employee Stock Purchase Plan

Stock Price

Company News

PR Newswire
Nov 10th, 2026
CMC CFO Paul Lawrence to retire; Kenji Hashimoto named deputy CFO and successor

CMC, the Irving, Texas-based steel and construction products maker, said chief financial officer Paul Lawrence will retire. He has held the role since 2019. Kenji Hashimoto joins as senior vice president and deputy chief financial officer on November 16, 2026. He is expected to become chief financial officer on January 15, 2027. Lawrence will stay on as special advisor to the chief executive officer until June 30, 2027, to support the handover. Hashimoto most recently led business improvement at Global Infrastructure Partners. He previously spent two years at Amazon and 22 years at American Airlines, where he was senior vice president of finance and corporate development. Chief executive officer Peter Matt said Hashimoto will help CMC reach its 2029 targets.

Concrete Products
Nov 10th, 2026
Producers - november 2026.

Producers - november 2026. HCP Infrastructure, a precast production business launched under Lime Rock New Energy, New York, has closed on Christiana, Tenn.-based Holton Concrete Products Inc. in a transaction with founders Thomas and Barbara Holton. Holton Concrete provides concrete pipe and precast structures for drainage projects throughout the Nashville and middle Tennessee markets. Joined in the deal by New York-based Aligned Climate Capital, HCP Infrastructure intends to upgrade Holton Concrete's production capabilities while advancing its use of lower-embodied-carbon materials and plant practices. The company serves as the cornerstone of HCP's strategy to build a precast concrete platform focused on high-quality infrastructure products with measurable environmental benefits, broadening product offerings and geographic reach over time. "Holton gives us a strong foundation in a key market where infrastructure growth and investment create a compelling opportunity for expansion," says Lime Rock New Energy Managing Director Mark Lewis. "Our focus is on combining capacity investment and continuous quality improvement with practical approaches to reducing the carbon footprint of Holton's products." "As we pass the business to its new owners, we believe HCP and Lime Rock New Energy bring the resources and commitment to support Holton's next chapter," adds Thomas Holton. "Their plans to invest in the business give us confidence in the opportunities ahead for the company and its employees." South Carolina-based Knight's Companies has rebranded its Murray Mines business to Knight's Materials, bringing the aggregates operation under a harmonized banner. Knight's Materials will provide sand and other construction material products to customers throughout the region, with the same commitment to service, quality and reliability they have come to expect. "This is a natural next step as we continue to grow our materials business and expand the products and services we can provide to our customers and partners," says CEO Pete Knight. Customers can expect a seamless transition, with existing operations, relationships and service continuing under the new Knight's Materials name, he adds. Texas-based CMC Inc., the top U.S. concrete rebar producer and number three player in concrete pipe and precast, has earned certification from Great Place to Work, a global organization that evaluates workplace culture, employee experience and employer trust levels, plus leadership behaviors. Results of an employee survey measuring that criteria indicate that 82 percent of employees view CMC as a Great Place to Work, versus the 57 percent watermark of typical U.S.-based companies. "CMC's success is driven by our people, and this recognition is especially meaningful because it reflects their feedback," affirms CEO Peter Matt. "Our employees play an important role in creating the culture we have across CMC. This certification reflects our team's commitment to one another, our customers and the work we do every day." Cemex S.A.B de C.V. has been named to the Fortune 2026 Change the World list, a salute to companies having a positive social impact through activities that are part of their core business strategy. This year marks the producer's fifth time earning such recognition. The business publication especially noted a freshwater-free concrete initiative in Mexico. Alternative, nonpotable water sources accounted for 67 percent of ready mixed batch water in the producer's home base operations during 2025. As part of the program, 31 Cemex concrete plants in Mexico have been certified under AENOR's Zero Freshwater and Zero Discharge Framework, which verifies freshwater usage metrics. The producer is replicating the freshwater replacement model at operations in the U.S., France and Spain. "Water scarcity is one of the most important challenges facing communities and industries, and this initiative shows how business can be part of the solution," says Cemex Executive Vice President of Sustainability, Operations and Ventures Ricardo Naya. "By rethinking water use in concrete production, we are reducing pressure on freshwater resources while strengthening the resilience and efficiency of our operations." CRH Ventures has announced a strategic investment in Calgary-based EnviCore, a startup business developing a thermo-chemical process yielding high-performance supplementary cementitious materials from a diverse range of mineral resources and industrial byproducts - clays, natural pozzolans, mine tailings, recycled concrete and glass among them. The capital will support development of an SCM production facility with annual capacity up 200,000 metric tons. The EnviCore technology integrates with existing cement production infrastructure. Work with EnviCore began through the CRH Ventures Sustainable Building Materials Accelerator, a program designed to identify commercially relevant technologies with the potential to lower emissions, enhance material performance or increase the use of waste feedstocks in building materials. EnviCore was named one of the program's winners. Teams across CRH Plc have since worked to evaluate output from the startup company's pilot scale production. "EnviCore has developed a compelling technology with the potential to create high-performing supplementary cementitious materials from a broad range of locally available resources," says CRH Ventures Head Murari Perumalsamy. "Our teams have built a strong technical relationship with Envicore through the Sustainable Building Materials Accelerator. This investment allows us to deepen that collaboration, build further evidence, and explore how the technology could support CRH's cementitious materials strategy."

Fastmarkets
Oct 16th, 2026
AI, data-center expansion intensifies competition for power, equipment: Climate Week NYC panel.

AI, data-center expansion intensifies competition for power, equipment: Climate Week NYC panel. Grid expansion, transmission investment and power availability may become bigger obstacles to decarbonization, rather than steelmaking technology itself, steel producers, utilities and energy experts said during an event co-hosted by Fastmarkets and the Global Steel Climate Council (GSCC) during Climate Week NYC. October 16, 2026 Steel industry representatives and energy experts said increasing demand for electricity from artificial intelligence (AI), data centers and industrial electrification is putting unprecedented pressure on the US power system. Transmission infrastructure emerges as key bottleneck. A recurring theme through the panel discussion - titled "The Race for Power: Can steel decarbonize in an era of surging demand?" - was that transmission infrastructure has become a big bottleneck, both for AI expansion and traditional large producers such as steel producers. "We can build as many new generation plants as we can support, but if you don't have a way to move those electrons, it's a moot point," Jacob Keany, economic development consultant at FirstEnergy, said during the panel discussion held on September 24. Chris Bataille, global fellow at the Center on Global Energy Policy, echoed that view, identifying transmission expansion and shortages of transformers, breakers and other grid equipment as key challenges. Garrett Kent, director of energy at Commercial Metals Company (CMC), told attendees that transformers for the company's new West Virginia steel mill had to be ordered about two and a half years in advance because of extended lead times. The panel also discussed how rapidly growing AI-related power demand is changing utility planning and project development. While Kent said steelmakers are not directly competing with data centers for electricity, utilities are increasingly managing large requests from both sectors. Low-emission steel routes need more electricity. During the discussion, moderated by Fastmarkets' senior steel price reporter Rijuta Dey, Bataille argued that expanding power supply must occur before deeper decarbonization goals can be met. "The mantra has to be electrify first, decarbonize later," Bataille said. According to Bataille, future low-emission steel technologies such as hydrogen-based direct-reduced iron (DRI) and iron ore electrolysis could require significantly more electricity than current steelmaking routes. Panelists ultimately favored an "all-of-the-above" approach to power generation, combining renewables, battery storage, natural gas, nuclear and existing generation sources while accelerating investment in transmission infrastructure. "The question is no longer simply whether we know how to produce steel with lower emissions," GSCC executive director Adena Renee Adler said in her opening remarks. "Increasingly, it is whether the energy system can support those solutions on a commercial scale." AI scrutiny dominates Climate Week NYC. The rise and dominance of AI and its impact on industry and humanity overall were key themes at this year's Climate Week NYC, with members of Congress calling for more transparency. Brian Schatz, US senator from the state of Hawaii, called the rate of AI development an "emergency," urging independent third-party review before frontier models are released. Senator Sheldon Whitehouse, the ranking member of the US Senate Environment and Public Works Committee, said that data center builders have not behaved "like good citizens," noting that there should be more transparency, and predicting that the US Congress will "step in a bipartisan way" to regulate the burgeoning sector. US steelmakers face a "robust opportunity" in the data center construction boom, driven by rapid implementation of AI software, Barry Zekelman, executive chairman and chief executive officer of Zekelman Industries, has previously told Fastmarkets. President Donald Trump, who refers to AI as "super intelligence" or SI, established the Super Intelligence Force (SIF) in early October. The task force is an interagency federal task force designed to coordinate technology policy, oversee AI development, and engage with industry leaders. Is data center demand lifting steel? Daily price assessments and forecasts show what demand means for steel prices

Yahoo Finance
Oct 15th, 2026
Commercial Metals beats forecasts with $212.5M Q4 profit on $2.66B revenue

Commercial Metals Co. (CMC) reported fiscal fourth-quarter net income of $212.5 million, or $1.91 per share. Adjusted for one-time gains and costs, earnings were $2.09 per share, ahead of the $1.97 average estimate of four analysts surveyed by Zacks Investment Research. The Irving, Texas-based steel and metal products manufacturer and recycler posted revenue of $2.66 billion, beating the $2.45 billion analysts expected. For the full year, CMC reported profit of $655.8 million, or $5.86 per share, on revenue of $9.39 billion.

PR Newswire
Oct 15th, 2026
CMC posts $655.8M fiscal 2026 net earnings as core EBITDA climbs to $1.4B

CMC, the Irving, Texas-based steel and construction products maker, reported fiscal 2026 net earnings of $655.8 million. Core EBITDA rose to $1.4 billion from $837.3 million a year earlier, and the margin increased 380 basis points to 14.5%. Fourth-quarter net earnings were $212.5 million, or $1.91 per diluted share. Core EBITDA grew 35.1% to $393.7 million, helped by North America Steel Group growth, the acquired precast business, and cost-saving programmes. Residential weakness hurt precast results. Net leverage, adjusted for acquisitions, fell to 1.9x. The board declared a quarterly dividend of $0.20 per share, payable November 11, 2026.

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