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US' CMC net earnings & sales increase in Q1 FY23 y-o-y

11 Jan 2023 16:41 reported by Stanley Wang

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Commercial Metals Company (CMC), a steel and metal manufacturer based in Irving, Texas, declared its financial performance for the fiscal first quarter that ended November 30, 2022. Net earnings were US$261.8 million, and net sales amounted to US$2.2 billion, increasing by 12.4% and 10% year on year, respectively.

CMC’s chairman of the Board, President, and Chief Executive Officer indicated that the strong demand in North America made its quarterly segment adjusted EBITDA hit nearly record high. Regarding the European market, it leveraged its excellent relative cost position to gain market shares and high shipping volumes, despite the uncertain market situation.

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