Commercial Metals Q3 2022 Earnings Report
Key Takeaways
Commercial Metals Company reported a remarkable third quarter for fiscal year 2022, marked by strong operational execution and favorable market dynamics across key regions. Net earnings reached $312.4 million, a 140% increase compared to the prior year, with adjusted earnings at $320.2 million. The acquisition of Tensar Corporation added a new growth platform, contributing to the company's solid financial achievements.
Net earnings increased by 140% year-over-year, reaching $312.4 million, or $2.54 per diluted share.
Core EBITDA rose by 110% year-on-year, totaling $483.9 million.
Margins over scrap in North America and Europe reflected strong market conditions and favorable customer sentiment.
Tensar acquisition was completed, creating a new strategic growth platform.
Commercial Metals
Commercial Metals
Commercial Metals Revenue by Segment
Forward Guidance
The company anticipates strong financial performance to continue in the fourth quarter, driven by robust demand and growing downstream backlog. Margins over scrap in North America and Europe should remain at levels near those of the third quarter due to favorable market conditions.
Positive Outlook
- Robust demand for major product lines is expected to persist.
- Growing downstream backlog.
- Solid levels of new work entering the project pipeline.
- Margins over scrap in North America and Europe should remain strong.
- Favorable market conditions across geographies.