Commercial Metals Company · NYSE:CMC
Commercial Metals — Q3 FY2026 Earnings Presentation
22 slides from Commercial Metals's earnings presentation, Jun 25, 2026
Slide 1: Q3 FY 2026 Supplemental Slides
Q3 FY 2026 Supplemental Slides 0
Slide 2: Forward-looking statements
1 This presentation contains forward-looking statements within the meaning of the federal securities laws with respect to the expected benefits of the recent acquisitions of Concrete Pipe & Precast (“CP&P”) and Foley Products Company (“Foley”), general economic conditions, key macro-economic drivers
Slide 3: Third quarter highlights and footnotes
2 [1] We have not reconciled the forward-looking estimates of TAG-related EBITDA benefits to comparable GAAP measures because applicable information for future periods, on which these reconciliations would be based, is not readily available due to uncertainty regarding, and the potential variability
Slide 4: A Market Leader with a Winning Formula
3 A Market Leader with a Winning Formula CMC is on course for improved profitability. Starting from a position of competitive strength, we see durable structural tailwinds in our core North American construction markets and meaningful opportunities for margin growth. Strong Competitive Position Soli
Slide 5: Supportive Outlook for Domestic Construction
4 Low-single digit growth Supportive Outlook for Domestic Construction [1] Source: Based on YTD Dodge Starts data through May 2026 and management estimates [2] Combined for North America Steel Group and Construction Solutions Group segments Construction activity is healthy with several potential cat
Slide 6: Domestic Rebar Market Landscape Remains Favorable
5 (400,000) (200,000) - 200,000 400,000 600,000 800,000 1,000,000 Domestic Rebar Market Landscape Remains Favorable [1] Source: U.S. Department of Commerce and Steel Manufacturers Association Despite a recent uptick, import levels have trended lower, while, at the same time rebar demand has consiste
Slide 7: Construction Solutions Group illustrative with Precast
6 Illustrative with Precast Description Manufactured concrete pipe and structures for job-site infrastructure Soil stabilization for road, foundation, and other construction applications Proprietary reinforcing steel products used in critical applications Distribution operations servicing concrete c
Slide 8: Precast Integration on Track, Delivering Growth & Profitability
7 Incremental Annualized EBITDA $240 to $250 million2 Expected Annualized Synergies by End of Year 3 [1] Excludes purchase accounting adjustments [2] Approximates expected annual performance Precast Integration on Track, Delivering Growth & Profitability $30 to $40 million Facilities 35 Volume ~1,75
Slide 9: Poland demand and supply factors
8 Demand Factors Market Developments • Polish economic growth supportive of CY 2026 construction activity − Consensus GDP growth forecast calling for 3.5% growth in CY2026 • Accelerated EU Funding: Significant progress in the contracting of EU funds from the 2021 – 2027 budget − 63.6% of allocation
Slide 10: Rebar Trade Case Supportive Trade Policy Environment
9 Rulings against Algeria, Bulgaria, Egypt, and Vietnam will apply total duties of 50% to 200% (countervailing PLUS antidumping) Rebar Trade Case Supportive Trade Policy Environment [1] Algeria, Bulgaria, Egypt, and Vietnam [2] Data from International Trade Commission Dataweb service [3] CY refers t
Slide 11: Q3 Consolidated Operating Results
10 Q3 Consolidated Operating Results [1] External Finished Steel Tons Shipped equal to shipments of Steel Products plus Downstream Products [2] Core EBITDA, core EBITDA margin, core EBITDA per ton of finished steel shipped, and adjusted earnings are non-GAAP measures. For reconciliations of non- GAA
Slide 12: Q3 North America Steel Group
11 Q3 North America Steel Group [1] External Finished Steel Tons Shipped equal to shipments of Steel Products plus Downstream Products [2] Downstream Product Margin Over Scrap equals Average Selling Price minus cost of ferrous scrap utilized during the prior quarter [3] Steel Products Margin Over Sc
Slide 13: Q3 Construction Solutions Group
12 197 Q3 2025 Precast Tensar Construction Services Performance Reinforcing Steel Impact Metals Q3 2026 0 50 100 150 200 250 300 350 400 450 • The inclusion of CMC’s precast business contributed 4.4 percentage points of accretion during the quarter • Precast shipments experienced some third quarter
Slide 14: Q3 Europe Steel Group
13 Q3 Europe Steel Group [1] External Finished Steel Tons Shipped equal to shipments of Steel Products; [2] Steel Products Margin Over Scrap equals Average Selling Price minus cost of ferrous scrap utilized; [3] Includes annual CO₂ credits associated with a government program extending to 2030, tota
Slide 15: Successfully Deleveraging Supports Balance Sheet Strength
14 Successfully Deleveraging Supports Balance Sheet Strength [1] Net leverage adjusted for acquisitions (illustrative) represents net debt divided by trailing 12-month adjusted EBITDA. With respect to figures presented for Post Precast Closing, 2Q26 and 3Q26, trailing 12-month adjusted EBITDA has be
Slide 16: Appendix: Non-GAAP Financial Reconciliations
© CMC Appendix: Non-GAAP Financial Reconciliations
Slide 17: Adjusted EBITDA, Core EBITDA and Core EBITDA margins
16 [1] See page 20 for definitions of non-GAAP measures Q3 FY26 Supplemental Slides June 25, 2026 Adjusted EBITDA, Core EBITDA and Core EBITDA margins
Slide 18: Adjusted Earnings
17 [1] See page 20 for definitions of non-GAAP measures Q3 FY26 Supplemental Slides June 25, 2026 Adjusted Earnings
Slide 19: Construction Solutions Group Adjusted Segment EBITDA % of Total
18 Q3 FY26 Supplemental Slides June 25, 2026 Construction Solutions Group Adjusted Segment EBITDA % of Total Segment EBITDA
Slide 20: Net Leverage Adjusted for Acquisitions
19 Net Leverage Adjusted for Acquisitions [1] For Post Precast Close, TTM CMC EBITDA (excluding PSG impact) represents the trailing 12-month adjusted EBITDA for Q1 FY2026. Debt and cash for Post Precast Close represents debt and cash as of December FY2026. For all periods presented, debt is defined
Slide 21: Definitions of non-GAAP measures
20 ADJUSTED EARNINGS Adjusted earnings is a non-GAAP financial measure that is equal to earnings (loss) before asset impairments and settlement for New Markets Tax Credit transactions, including the estimated income tax effects thereof. The adjustment “settlement for New Markets Tax Credit transacti
Slide 22: CMC.com
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