TEXTILES.ORG
Commercial Metal Co. (CMC), parent company of Tensar, released the company’s results for the second quarter of fiscal year 2026.
Second quarter net earnings were $93.0 million, or $0.83 per diluted share, on net sales of $2.1 billion, compared to prior year period net earnings of $25.5 million, or $0.22 per diluted share, on net sales of $1.8 billion.
“The CMC team delivered another strong quarter, driving a more than two-fold increase in core EBITDA compared to a year ago. These impressive results reflect continued execution of our strategy, underpinned by additional efficiency gains from our enterprise-wide Transform, Advance, Grow program and meaningful contributions from our recently acquired precast platform. While weather disruptions temporarily impacted much of our North American footprint during the quarter, we were encouraged by the favorable underlying market conditions across our segments,” says Peter Matt, CMC president and CEO.
CMC recorded net after-tax charges of $37.1 million, related primarily to the acquisitions of Foley and CP&P, as well as interest expense on the judgment amount associated with the previously disclosed litigation. These charges were offset in part by an unrealized gain on undesignated commodity hedges. Net earnings recorded for the prior year period included net after-tax charges of $10.3 million related to an unrealized loss on undesignated commodity hedges and interest expense on the judgment amount of the aforementioned litigation. Excluding these charges in both periods, second-quarter adjusted earnings were $130.1 million, or $1.16 per diluted share, compared to adjusted earnings of $35.8 million, or $0.31 per diluted share, in the prior year period. “adjusted EBITDA,” “core EBITDA,” “core EBITDA margin,” “adjusted earnings,” and “adjusted earnings per diluted share” are non-GAAP financial measures.
As of Feb. 28, 2026, cash, cash equivalents and restricted cash totaled $503.6 million, and available liquidity was over $1.7 billion. During the quarter, CMC repurchased 249,154 shares of common stock valued at $18.3 million in the aggregate. As of Feb. 28, 2026, $147.8 million remained available under the current share repurchase authorization.
On March 25, 2026, the board of directors approved an increase of $0.02 per share to CMC’s quarterly dividend payment, declaring a quarterly dividend of $0.20 per share of CMC common stock payable to stockholders of record on April 6, 2026. The dividend, to be paid on April 15, 2026, will represent an 11% increase from the prior quarterly dividend level.
The company’s full second-quarter fiscal year 2026 results are available here.