CMC reports increased springtime shipments

The company has reported a 12 percent net steel sales increase in its March through May quarter compared with the previous three months.

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“Activity within domestic construction markets remained resilient as shown by our healthy shipment levels, robust bid volumes on new work in the pipeline and stable downstream backlog,” says the CEO of CMC.
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CMC has cited better market conditions for a 12 percent growth in external net steel sales revenue in its most recently completed financial quarter compared with the prior three months.

Despite the positive momentum in shipments, CMC’s companywide net income in the spring 2025 time frame was 30 percent lower compared with income in the March-to-May 2024 period.

The Irving, Texas-based company, which makes recycled-content steel, operates a network of metal recycling facilities and offers products to the construction sector, has reported a net income of more than $83 million for this spring, down 30 percent from the more than $116 million earned one year earlier.

“We achieved sequential improvement in our financial performance driven by better market conditions across each of our segments, including a meaningful tailwind from the upward inflection of steel product metal margins within the North America Steel Group and solid demand for the proprietary value added products offered by our Emerging Businesses Group,” CMC President and CEO Peter Matt says.

“Activity within domestic construction markets remained resilient as shown by our healthy shipment levels, robust bid volumes on new work in the pipeline and stable downstream backlog. These factors, and our significant exposure to the large and growing United States public infrastructure market, give us confidence that CMC should perform well through the balance of our fiscal year.”

CMC paid an average of $360 per ton this spring for ferrous scrap melted at its electric arc furnace (EAF) network, up 6.5 percent compared with the average of $338 per ton paid from December 2024 through this February.

In its raw materials sales figures, which should include nonferrous and ferrous scrap sold externally, the company shipped 385,000 tons externally this spring, an increase of 24 percent compared with the 312,000 tons shipped in the prior winter months.

“I am excited by the long-term outlook for our company and the prospect of creating significant value for our shareholders," Matt says. "We have developed, and are executing on, a game-changing strategic plan that is expected to deliver meaningful and sustained enhancements to our margins, cash flow capabilities and return on capital.”

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