EarningsQ3 2026 Earnings Report
DE:CMS Q3 2026 EPS Results
Actual EPS€1.53
Consensus EPS€1.50
Beat/MissBeat by +€0.03
One Year Ago EPS€0.65
DE:CMS Q3 2026 Revenue Results
Actual Revenue€2.19B
Expected Revenue€2.12B
Beat/MissBeat by +€72.10M
YoY Revenue Growth+22.93%
Earnings Announcement Details
QuarterQ3 2026
Date06/25/2026
TimeBefore Open
Conference CallThursday, June 25, 2026
DE:CMS Upcoming Earnings
Commercial Metals Company's next earnings date is estimated for October 15, 2026, based on past reporting schedules.
Q3 2026 Earnings Call Audio
DE:CMS Q3 2026 Earnings Call
0:00 / 0:00
Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a broadly positive operational and financial trajectory: strong YoY growth in core EBITDA (78.6%), significant margin expansion, successful Precast integration with meaningful accretion to Construction Solutions, progress on TAG efficiency initiatives, and clear deleveraging and liquidity improvements. Near‑term challenges—Q3 maintenance outages (~$20M impact), temporary scrap cost pressure, weather‑related shipment delays, and purchase‑accounting amortization that depresses reported earnings—were explicitly called out as largely temporary and expected to reverse into Q4. Management provided a constructive Q4 outlook (expected $40M–$50M sequential EBITDA improvement) and maintained full‑year Precast guidance, reinforcing confidence in sustainability of improvements. On balance, the highlights (strong margins, earnings growth, integration success, deleveraging and cash‑tax benefits) outweigh the temporary lowlights.Company Guidance
Core EBITDA and Margin Expansion
Consolidated core EBITDA rose 78.6% year‑over‑year to $354 million in Q3; consolidated core EBITDA margin expanded to 14.2%, up ~440 basis points YoY.
Strong Adjusted Earnings Growth
Adjusted earnings (ex‑items) increased 142.4% YoY to $193 million, or $1.73 per diluted share; reported net earnings were $173 million, or $1.55 per diluted share.
North American Steel Group Outperformance
North American Steel Group adjusted EBITDA increased 41% YoY to $254 million (or $134 per ton sold); metal margins expanded by approximately $111 per ton year‑over‑year.
Construction Solutions Group Accretion from Precast
Construction Solutions net sales nearly doubled YoY to $395 million (including $176 million from acquired Precast businesses); adjusted EBITDA rose 138% YoY to $97.4 million and margin expanded 400 bps to 24.7%, with Precast contributing $52.9 million and ~4.4 percentage points of margin accretion.
Precast Platform Outlook and Integration
Integration of recent Precast acquisitions tracking on plan with early operational/commercial benefits; company maintains fiscal‑26 Precast adjusted EBITDA guidance (ex purchase accounting) of $165M–$175M and reports record backlog (value up low single digits YoY).
TAG Program Driving Efficiency Gains
Transform Advance and Grow (TAG) program is tracking well ahead of the targeted $150 million run‑rate annualized benefits, supporting margin expansion and improved KPIs across operations, commercial and support functions.
Balance Sheet Progress and Liquidity
Net leverage (adjusted for acquisitions) improved to ~2.1x with a target of <2.0x by mid‑2027; total liquidity of nearly $1.8 billion and no near‑term refinancing needs; fiscal‑26 CapEx expected ~$550M while planned step‑down in future CapEx supports deleveraging.
Regional & End‑market Demand Drivers
Downstream bookings grew >9% YoY in Q3; IIJA funding remains largely unspent (>50%), supporting future highway/infrastructure demand; strong pipeline for data centers, semiconductors and energy projects driving multiyear demand in core Sunbelt/East Coast footprints.
Europe Momentum
Europe Steel Group adjusted EBITDA improved materially to $34.7 million in Q3; metal margins expanded ~$37 per ton YoY (driven by ~$34/ton higher selling price and ~$3/ton lower scrap), aided by favorable regulatory changes (CBAM, EU safeguards).
Tax and Cash Flow Tailwinds
Q3 effective tax rate 8.4% (YTD 7.9%) and fiscal‑26 ETR guidance of 7%–9%; company expects minimal U.S. federal cash taxes in fiscal‑26 (48C credits, bonus/accelerated depreciation), supporting free cash flow and deleveraging.
DE:CMS Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed