Highest-materiality recent filing
CMC reports Q2 fiscal 2026 adjusted EPS $1.16, core EBITDA jumps 114% YoY to $297.5M
Net earnings $93.0M ($0.83 diluted EPS); adjusted earnings $130.1M ($1.16 diluted EPS).
Foley Products, acquired by CMC, reports FY2024 sales $401M, net income $126M
Foley FY2024 net sales $401.1M, net income $126.0M, gross profit $184.2M.
Net sales $2.1B vs $1.9B prior year; net earnings $177.3M vs net loss ($175.7M) a year ago.
CMC closes $1.84B acquisition of Foley Products Company, precast concrete supplier
Acquired Foley Products Company for $1.84B cash; Foley supplies precast concrete and pipe products.
CMC completes $675M acquisition of Concrete Pipe & Precast; expects Foley deal close by end of 2025
Acquired CP&P for $675M cash; CP&P operates 17 facilities and employs 700 across Mid-Atlantic and South Atlantic regions.
CMC closes $2B private placement of senior notes to fund Foley acquisition
Issued $1B of 5.75% Senior Notes due 2033 and $1B of 6.00% Senior Notes due 2035 in a private placement.
CMC prices $2B senior notes offering to fund Foley Products acquisition
$1B of 5.75% Senior Notes due 2033 and $1B of 6.00% Senior Notes due 2035 priced.
CMC plans $2.0B notes offering to fund Foley acquisition; Foley FY2024 revenue $401M
CMC to offer $2.0B aggregate principal of senior unsecured notes; proceeds primarily for Foley acquisition and general corporate purposes.
Up to $1.85B 364-day bridge facility for acquisition under Oct 15 Securities Purchase Agreement.
CMC Q4 EPS $1.35 beat; core EBITDA margin 13.8%; full year net $84.7M after $274M litigation charge
Q4 net earnings $151.8M ($1.35/dil) vs $103.9M ($0.90/dil) YoY; adjusted EPS $1.37.
CMC acquires Foley Products for $1.84B cash; transforms precast platform
Cash purchase price $1.84B, 10.3x Foley’s forecasted 2025 EBITDA (9.2x after cash tax benefits).
CMC receives adverse ruling in Pacific Steel Group litigation; plans appeal to Ninth Circuit
On Sept 29, 2025, U.S. District Court for N.D. California upheld jury's verdict favoring Pacific Steel Group against CMC.
CMC to acquire Concrete Pipe & Precast for $675M, closes Dec 2025
Cash purchase price of $675M equals 9.5x CP&P's forecasted 2025 EBITDA; effective multiple ~8.5x after tax benefits.
CMC Q3 FY2025 net earnings $83.1M, down 30% YoY; adjusted EPS $0.74
Net earnings $83.1M ($0.73 diluted EPS) vs $119.4M ($1.02) YoY; adjusted EPS $0.74.
CMC Q2 fiscal 2025 net earnings $25.5M, down 70% YoY; adjusted EPS $0.26
Net earnings $25.5M ($0.22 diluted EPS) vs $85.8M ($0.73) prior year; adjusted earnings $29.3M ($0.26).
CMC reports Q1 net loss of $175.7M on $265M litigation charge; adjusted EPS $0.78
Q1 net loss $175.7M ($1.54/sh); adjusted earnings $88.5M ($0.78/sh) vs prior year adjusted $176.3M ($1.49/sh).
CMC faces $110M jury verdict in Pacific Steel antitrust case; trebled to $330M
Jury verdict against CMC for $110M, automatically trebled to $330M plus attorneys' fees.
CMC Q4 net earnings $103.9M ($0.90 EPS), down 44% YoY; FY24 EPS $4.14 vs $7.25
Net sales $2.0B in Q4, down from $2.2B YoY; full year $7.9B vs $8.8B.
CMC Q3 FY2024 EPS $1.02, down 48% YoY; sales $2.1B
Net earnings of $119.4M ($1.02/diluted share) vs $234.0M ($1.98) a year ago.
the Board has appointed Robert S. Wetherbee, who has served as an independent director on the Board since March 2023, to serve as Chairman of the Board, effective September 1, 2024
the Board appointed Tandra Perkins to serve as a Class II director of the Company, effective September 1, 2024
Sarah E. Raiss will resign from her position as Lead Director of the Board, effective August 31, 2024, but will continue to serve on the Board
Vicki L. Avril-Groves will retire from the Board, effective August 31, 2024
Barbara R. Smith, the Executive Chairman of the Company’s Board of Directors (the “ Board ”), will retire from such position and from the Board, effective August 31, 2024
Max materiality 0.95 · Median 0.55 · Most common event debt