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State of Alaska Department of Revenue grew its position in Commercial Metals Company (NYSE:CMC – Free Report) by 78.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,095 shares of the basic materials company’s stock after buying an additional 12,368 shares during the quarter. State of Alaska Department of Revenue’s holdings in Commercial Metals were worth $1,743,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. USA Financial Formulas lifted its position in shares of Commercial Metals by 67.6% in the 1st quarter. USA Financial Formulas now owns 496 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 200 shares in the last quarter. Global Retirement Partners LLC acquired a new position in Commercial Metals in the 2nd quarter worth approximately $34,000. Caitong International Asset Management Co. Ltd boosted its stake in Commercial Metals by 617.2% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 832 shares of the basic materials company’s stock worth $58,000 after purchasing an additional 716 shares during the period. Integrated Wealth Concepts LLC acquired a new position in Commercial Metals in the 2nd quarter worth approximately $63,000. Finally, EverSource Wealth Advisors LLC grew its position in Commercial Metals by 105.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,222 shares of the basic materials company’s stock worth $75,000 after purchasing an additional 626 shares in the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In Several analysts have issued reports on the stock. Citigroup cut their target price on shares of Commercial Metals from $85.00 to $75.00 and set a “buy” rating on the stock in a research note on Tuesday, July 7th. Morgan Stanley reduced their target price on Commercial Metals from $88.00 to $84.00 and set an “overweight” rating for the company in a report on Monday. Barclays raised their target price on Commercial Metals from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Wall Street Zen cut Commercial Metals from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $85.00 price target on shares of Commercial Metals in a report on Thursday, August 6th. Ten investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $79.45.

Read Our Latest Stock Report on Commercial Metals Commercial Metals Price Performance CMC opened at $64.59 on Tuesday. The stock has a market cap of $7.14 billion, a price-to-earnings ratio of 11.00, a PEG ratio of 0.25 and a beta of 1.53. Commercial Metals Company has a 1 year low of $55.97 and a 1 year high of $84.87. The company has a current ratio of 2.34, a quick ratio of 1.66 and a debt-to-equity ratio of 0.71. The stock has a fifty day moving average price of $66.63 and a 200 day moving average price of $68.37.

Commercial Metals (NYSE:CMC – Get Free Report) last issued its earnings results on Thursday, October 15th. The basic materials company reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.14. Commercial Metals had a return on equity of 17.00% and a net margin of 6.98%. The firm had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter in the previous year, the company posted $1.37 earnings per share. The business’s quarterly revenue was up 25.7% compared to the same quarter last year. Analysts forecast that Commercial Metals Company will post 7.67 EPS for the current fiscal year.

Commercial Metals Announces Dividend The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 11th. Stockholders of record on Wednesday, October 28th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Wednesday, October 28th. Commercial Metals’s payout ratio is currently 13.63%.

Commercial Metals declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, August 5th that allows the company to buy back $600.00 million in outstanding shares. This buyback authorization allows the basic materials company to reacquire up to 7.5% of its shares through open market purchases. Share buyback plans are generally a sign that the company’s management believes its shares are undervalued.

Insider Activity In other news, Director John McPherson purchased 1,390 shares of Commercial Metals stock in a transaction dated Thursday, August 13th. The stock was acquired at an average cost of $71.92 per share, for a total transaction of $99,968.80. Following the acquisition, the director directly owned 21,927 shares in the company, valued at $1,576,989.84. This represents a 6.77% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.62% of the stock is currently owned by corporate insiders.

(Free Report)

Commercial Metals Company (NYSE:CMC) is a steel and metals manufacturer, recycler and fabricator headquartered in Irving, Texas. The company produces and sells steel products used in construction, infrastructure and industrial applications, including reinforcing bar, wire rod, merchant bar, structural steel and related products.

CMC operates an integrated recycling and manufacturing model. Its recycling facilities collect and process ferrous and nonferrous scrap metal, which is used as raw material in the company’s electric-arc-furnace steel mills.

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Stock to Watch: Commercial Metals (CMC - Free Report) Commercial Metals Company manufactures, recycles and markets steel and metal products, related materials and services. Through an extensive manufacturing network mainly located in the United States and Central Europe, with strategic operations in the United Kingdom, Europe and Asia, the company serves infrastructure, nonresidential, residential, industrial and energy markets.

CMC is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.

It also boasts a Value Style Score of A thanks to attractive valuation metrics like a forward P/E ratio of 8.47; value investors should take notice.

For fiscal 2027, two analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.14 to $7.67 per share. CMC boasts an average earnings surprise of +5.9%.

With a solid Zacks Rank and top-tier Value and VGM Style Scores, CMC should be on investors' short list.

It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.

Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.

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Stock to Watch: Commercial Metals (CMC - Free Report) Commercial Metals Company manufactures, recycles and markets steel and metal products, related materials and services. Through an extensive manufacturing network mainly located in the United States and Central Europe, with strategic operations in the United Kingdom, Europe and Asia, the company serves infrastructure, nonresidential, residential, industrial and energy markets.

CMC is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.

Additionally, the company could be a top pick for growth investors. CMC has a Growth Style Score of B, forecasting year-over-year earnings growth of 12.5% for the current fiscal year.

Two analysts revised their earnings estimate upwards in the last 60 days for fiscal 2027. The Zacks Consensus Estimate has increased $0.14 to $7.67 per share. CMC boasts an average earnings surprise of +5.9%.

With a solid Zacks Rank and top-tier Growth and VGM Style Scores, CMC should be on investors' short list.

Commercial Metals Company remains a cyclical steel producer with limited upside, despite recent M&A and strong 4Q26 results. CMC's 4Q26 outperformance was driven by favorable steel spreads and lower scrap costs, not sustainable volume or margin improvements. The $2.5B precast acquisition adds diversification but does not materially reduce cyclicality or justify a higher valuation multiple.

Commercial Metals (CMC - Free Report) reported $2.66 billion in revenue for the quarter ended August 2026, representing a year-over-year increase of 25.7%. EPS of $2.09 for the same period compares to $1.37 a year ago.

The reported revenue represents a surprise of +8.69% over the Zacks Consensus Estimate of $2.45 billion. With the consensus EPS estimate being $1.97, the EPS surprise was +6.09%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Commercial Metals performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

North America - Average selling price (per ton) - Cost of raw materials per ton: $754.00 versus the three-analyst average estimate of $709.81.Europe - Steel products (External tons shipped): 377 thousand compared to the 398.42 thousand average estimate based on three analysts.North America - Steel products - Rebar: 507 thousand compared to the 524.07 thousand average estimate based on three analysts.North America - Steel products - Merchant and other: 311 thousand compared to the 256.05 thousand average estimate based on three analysts.North America - Steel products (tons shipped): 818 thousand versus the three-analyst average estimate of 780.11 thousand.North America - Downstream products: 397 thousand compared to the 381.95 thousand average estimate based on three analysts.Europe - Steel products - Rebar: 106 thousand compared to the 125.58 thousand average estimate based on three analysts.Europe - Steel products - Merchant and other: 271 thousand compared to the 272.85 thousand average estimate based on three analysts.Net sales from external customers- North America: $1.94 billion versus $1.75 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +20% change.Net sales from external customers- Corporate and Other: $6.33 million compared to the $10.36 million average estimate based on three analysts. The reported number represents a change of -52.7% year over year.Net sales to external customers- Construction Solutions Group: $431.38 million compared to the $399.07 million average estimate based on three analysts. The reported number represents a change of +94.5% year over year.Net sales from external customers- Europe: $281.22 million compared to the $290.98 million average estimate based on three analysts. The reported number represents a change of +6.8% year over year.View all Key Company Metrics for Commercial Metals here>>>

Shares of Commercial Metals have returned -0.8% over the past month versus the Zacks S&P 500 composite's +1.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

Fiscal 2026 net earnings of $655.8 million. Consolidated core EBITDA increased to $1.4 billion, from $837.3 million in fiscal 2025. Core EBITDA margin increased by 380 basis points to 14.5%. Fourth quarter net earnings of $212.5 million, or $1.91 per diluted share, and adjusted earnings of $233.6 million, or $2.09 per diluted share Fourth quarter consolidated core EBITDA increased 35.1% year-over-year to $393.7 million and core EBITDA margin increased by 100 basis points to 14.8%   Improved results were driven by strong growth in the North America Steel Group, the inclusion of the acquired precast operations, and benefits from Transform, Advance, Grow ("TAG") initiatives Precast integration on track Reduced net leverage adjusted for acquisitions1 to below 2x target , /PRNewswire/ -- CMC (NYSE: CMC) (the "Company") today announced financial results for its fiscal fourth quarter and fiscal year ended August 31, 2026.

CEO Commentary
"Fiscal 2026 marked a transformational step forward for CMC. We continued to build organizational strength and enhance margin durability in our early-stage construction portfolio through our precast acquisitions, our successful TAG program, and our key growth investments, including our West Virginia micro mill. We also established a clear roadmap to fiscal 2029, setting ambitious and achievable targets with a focus on delivering long-term shareholder value," said Peter Matt, President and Chief Executive Officer. "Our fourth quarter core EBITDA performance delivered solid year-over-year growth, driven by strong execution of our North American steel franchise and continued momentum of enterprise-wide TAG benefits. While broader demand conditions remain supportive, residential softness weighed on precast results in the period. With backlogs near record levels, a differentiated portfolio of solutions, and multiple value creation levers, we are well-positioned to deliver strong financial results and achieve our strategic goals in fiscal 2027."

Fourth Quarter Operational and Financial Highlights

Three Months Ended

(in thousands, except per share data)

8/31/2026

5/31/2026

8/31/2025

QoQ Change

YoY Change

Net sales

$   2,658,334

$   2,483,245

$   2,114,518

7.1 %

25.7 %

Net earnings

$      212,520

$      173,015

$      151,781

22.8 %

40.0 %

Core EBITDA

$      393,658

$      353,596

$      291,441

11.3 %

35.1 %

Core EBITDA margin

14.8 %

14.2 %

13.8 %

60bps

100bps

Net earnings per diluted share

$            1.91

$            1.55

$            1.35

23.2 %

41.5 %

Adjusted earnings

$      233,590

$      193,025

$      154,965

21.0 %

50.7 %

Adjusted earnings per diluted share

$            2.09

$            1.73

$            1.37

20.8 %

52.6 %

For the fourth quarter of fiscal 2026, the Company reported consolidated net earnings of $212.5 million or $1.91 per diluted share, up from $1.35 in the prior year period, due in part to a lower effective tax rate. Adjusted earnings were $233.6 million, or $2.09 per diluted share, an increase of 52.6% on a per-share basis versus the comparable prior year period.

Consolidated core EBITDA for the fiscal fourth quarter increased 35.1% year-over-year to $393.7 million, while core EBITDA margins expanded 100 basis points to 14.8%, driven by metal margin expansion and the inclusion of the higher-margin precast business. Relative to the fiscal third quarter, 11.3% core EBITDA growth was led by the North America Steel Group, where stronger margins and volume growth drove 60 basis points of core EBITDA margin expansion.

Business Segments - Fiscal Fourth Quarter 2026 Review

North America Steel Group
Fourth quarter North America Steel Group adjusted EBITDA increased 32.6% year-over-year to $317.5 million, while adjusted EBITDA margin increased to 16.4%, up from 14.8% in the prior year period. Segment performance reflects a combination of higher average selling price for steel products, merchant bar-led volume growth, and ongoing benefits from the Company's TAG program.

Compared with the prior year period, metal margins increased $84 per ton to $652. Sequentially, metal margins improved by $42 per ton, driven primarily by a $32 per ton increase in average selling price while scrap costs declined $10 per ton. Sequential pricing growth reflects a balanced supply-demand environment, continued momentum in rebar and MBQ pricing, and ongoing commercial discipline.

Finished goods shipment volumes for the North America Steel Group increased 5.3% versus the prior year period. Merchant bar shipment volumes surged 27.5% year-over-year, and 16.0% sequentially, driven by continued strength in industrial applications, including data center-related activity, as well as our expanded merchant bar production capabilities at the Arizona 2 micro mill. Taken together, rebar and downstream product shipment volumes were essentially flat year-over-year and up 4.4% sequentially, reflecting our commercial discipline as well as our differentiated capabilities that position us well to meet the complexity associated with large-scale megaproject demand.   

Market conditions remain solid, with demand strength across the energy build-out, semiconductor manufacturing, industrial manufacturing, and key public infrastructure markets. These conditions have contributed to a healthy and growing backlog, with downstream backlog volumes increasing 5.0% sequentially and 15.5% year-over-year. Similarly, backlog pricing continues to trend higher, reflecting disciplined execution, healthy demand, and our differentiated market position across core end markets.

Construction Solutions Group
Construction Solutions Group ("CSG") fourth quarter net sales increased 94.5% to $431.4 million and adjusted EBITDA of $101.7 million was up 100.9% year-over-year. Adjusted EBITDA margin of 23.6% was up 80 basis points relative to the prior year period. In the period, precast sales and adjusted EBITDA were $190.8 million and $57.0 million, respectively. Precast adjusted EBITDA fell below management's prior expectations, primarily due to regional residential softness, which reduced volumes and created regional margin mix headwinds. Precast shipments decreased year-over-year with weakness in the Southeast that more than offset strong shipment growth in the Mid-Atlantic. Underlying precast demand remains healthy, with strong momentum in non-residential and infrastructure end markets. In the fourth quarter, bookings were up year-over-year and up 12.6% sequentially. Backlog increased roughly 3% from the prior year and nearly 4% from the fiscal third quarter, and average selling price continued to move higher, reflecting solid market fundamentals. These indicators reinforce our confidence in the outlook for the precast business and its ability to deliver higher growth, greater earnings stability, and stronger returns for CMC in 2027.       

Tensar delivered results that were largely consistent with both the prior quarter and the year-ago period, capping off a strong fiscal 2026 in which profitability increased approximately 50%. Performance was driven by  favorable construction activity across several key end markets, including data centers, energy, and infrastructure. Construction Services and Impact Metals also delivered strong revenue and adjusted EBITDA growth year on year. Performance Reinforcing Steel's results were lower due to a significant unplanned outage at Galvabar that impacted shipments during the quarter. Encouragingly, bookings, backlogs and pricing trends for that business remain strong, and the operational flexibility coming from the second Galvabar line, which will be commissioned later in calendar 2026, will further enhance our ability to serve demand and support future growth.

Europe Steel Group
For the fourth quarter, Europe Steel Group generated adjusted EBITDA of $15.6 million, versus $39.1 million in the prior year period, with the year-over-year comparison impacted by a $30.7 million CO₂ credit recognized in the prior year, while no credit was recognized in the current period. Metal margin expanded by $32 per ton year-over-year as average selling price increased $44 per ton and outpaced scrap costs, which increased $12 per ton over the same period. Finished goods shipment volumes for the Europe Steel Group increased 0.8% as lower rebar volumes were more than offset by strong growth in merchant bar and wire rod.  Improved trade policies via the EU Carbon Border Adjustment Mechanism ("CBAM") as well as the tariff-rate quota ("TRQ") system implemented July 1, 2026 are supporting a more constructive operating environment. Combined with gradually improving end-market demand trends, these developments reinforce our confidence in a return to mid-cycle performance levels.

Balance Sheet & Capital Allocation
As of August 31, 2026, cash, cash equivalents and restricted cash totaled $778.9 million and available liquidity was over $2.0 billion. Net leverage adjusted for acquisitions ended the quarter at 1.9x reflecting strong cash generation and balance sheet discipline. 

During the quarter, CMC repurchased 383,333 shares of common stock valued at $26.7 million in the aggregate. As of August 31, 2026, $702.1 million remained available under the current share repurchase authorization.

On October 13, 2026, the board of directors declared a quarterly dividend of $0.20 per share of CMC common stock payable to stockholders of record on October 28, 2026. The dividend, to be paid on November 11, 2026, will mark the 248th consecutive quarterly payment by the Company.

Outlook 
Mr. Matt added, "We expect fiscal 2027 will be another strong year for CMC, supported by a healthy and balanced market backdrop and the growing contribution from our value creation levers, including TAG, our growth investments, and an evolving early-stage construction portfolio. Our focus remains on delivering profitable growth, improving free cash flow generation, enhancing shareholder returns, and, above all, continuing to advance our strategic agenda for a stronger CMC."

For the first quarter of fiscal 2027, we continue to expect healthy operating performance across the portfolio with normal seasonal factors and input cost dynamics to impact results sequentially:

For the North America Steel Group, improved pricing is expected to largely offset higher scrap costs, startup expenses, and a slight seasonal decline in shipments, resulting in adjusted EBITDA that is expected to be nearly flat in comparison to the fourth quarter.  Within the Construction Solutions Group, adjusted EBITDA is expected to be down sequentially reflecting typical seasonal trends impacting the end market activity of this segment. Meaningful sequential growth in adjusted EBITDA is anticipated for the Europe Steel Group with the first quarter benefiting from improving operating conditions and a CO2 credit.     Conference Call
CMC invites you to listen to a live broadcast of its fourth quarter fiscal 2026 conference call today, Thursday, October 15, 2026 at 11:00 a.m. ET. Peter Matt, President and Chief Executive Officer, and Paul Lawrence, Senior Vice President and Chief Financial Officer, will host the call. The call is accessible via our website at www.cmc.com. In the event you are unable to listen to the live broadcast, the call will be archived and available for replay on our website on the next business day. Financial and statistical information presented in the broadcast are located on CMC's website under "Investors."

About CMC
CMC is a Fortune 500® company headquartered in Irving, Texas, and a leading provider of early-stage construction solutions that support the foundational phases of modern infrastructure and building projects. Founded in 1915, CMC has grown from a single-site recycling operation to one of the largest U.S. manufacturers of steel reinforcing bar ("rebar"), a leading producer of subgrade soil stabilization and foundation enhancement solutions and a major supplier of concrete pipe and precast products.

Through an extensive manufacturing network primarily located in the United States and Central Europe, with strategic operations in the United Kingdom, Europe and Asia, CMC serves infrastructure, non-residential, residential, industrial and energy markets. While often unseen, CMC's products are essential to highways, bridges, airports, commercial buildings and other critical structures that support everyday life.

From Fortune Magazine. © 2025 Fortune Media IP Limited. All rights reserved. Used under license

Forward-Looking Statements
This news release contains forward-looking statements within the meaning of the federal securities laws with respect to the expected performance of our recently acquired precast platform, general economic conditions, key macro-economic drivers that impact our business, the effects of ongoing trade actions, the effects of continued pressure on the liquidity of our customers, potential synergies and growth provided by acquisitions and strategic investments, demand for our products, shipment volumes, metal margins, backlog volumes, the ability to operate our steel mills at full capacity, particularly during periods of domestic mill start-ups, the future availability and cost of supplies of raw materials and energy for our operations, growth rates in certain reportable segments, product margins within our Construction Solutions Group segment, share repurchases, legal proceedings, construction activity, international trade, the impact of geopolitical conditions, the effects of CBAM and other EU trade measures on European demand and pricing, capital expenditures, tax credits, the timing, amount and recurrence of CO2 or emissions-related credits, our liquidity and our ability to satisfy future liquidity requirements, our ability to achieve our stated deleveraging target within the anticipated timeframe, estimated contractual obligations, the expected capabilities and benefits of new facilities, the anticipated benefits and timeline for execution of our growth plan and initiatives, including our TAG operational and commercial excellence program, and our expectations or beliefs concerning future events. The statements in this release that are not historical statements are forward-looking statements. These forward-looking statements can generally be identified by phrases such as we or our management "expects," "anticipates," "believes," "estimates," "intends," "may," "plans to," "ought," "could," "will," "should," "likely," "appears," "projects," "forecasts," "outlook" or other similar words or phrases, as well as by discussions of strategy, plans or intentions.

The Company's forward-looking statements are based on management's expectations and beliefs as of the date this news release. Although we believe that our expectations are reasonable, we can give no assurance that these expectations will prove to have been correct, and actual results may vary materially. Except as required by law, we undertake no obligation to update, amend or clarify any forward-looking statements to reflect changed assumptions, the occurrence of anticipated or unanticipated events, new information or circumstances or any other changes. Important factors that could cause actual results to differ materially from our expectations include those described in our filings with the U.S. Securities and Exchange Commission, including, but not limited to, in Part I, Item 1A, "Risk Factors" of our annual report on Form 10-K for the fiscal year ended August 31, 2025, as well as the following: changes in economic conditions which affect demand for our products or construction activity generally, and the impact of such changes on the highly cyclical steel industry; rapid and significant changes in the price of metals, potentially impairing our inventory values due to declines in commodity prices or reducing the profitability of downstream contracts within our vertically integrated steel operations due to rising commodity pricing; excess capacity in our industry, particularly in China, and product availability from competing steel mills and other steel suppliers including import quantities and pricing; the impact of additional steelmaking capacity expected to come online from a number of ongoing electric arc furnace projects in the U.S.; the impact of geopolitical conditions, including political turmoil and volatility, regional conflicts, terrorism and war on the global economy, inflation, energy supplies and raw materials; global factors, such as trade measures, military conflicts and political uncertainties, including changes to current trade regulations, such as Section 232 trade tariffs and quotas, tax legislation and other regulations which might adversely impact our business; operating and startup risks, as well as market risks associated with the commissioning of new projects could prevent us from realizing anticipated benefits and could result in a loss of all or a substantial part of our investments; our ability to successfully execute our TAG operational and commercial excellence program and other transformation initiatives, including the realization of anticipated benefits within the expected timeframes; attention to environmental, social and governance ("ESG") matters, including any targets or other ESG, environmental justice or regulatory initiatives; impacts from global public health crises on the economy, demand for our products, global supply chain and on our operations; compliance with and changes in existing and future laws, regulations and other legal requirements and judicial decisions that govern our business, including increased environmental regulations associated with climate change and greenhouse gas emissions; involvement in various environmental matters that may result in fines, penalties or judgments; evolving remediation technology, changing regulations, possible third-party contributions, the inherent uncertainties of the estimation process and other factors that may impact amounts accrued for environmental liabilities; potential limitations in our or our customers' abilities to access credit and non-compliance with their contractual obligations, including payment obligations; activity in repurchasing shares of our common stock under our share repurchase program; financial and non-financial covenants and restrictions on the operation of our business contained in agreements governing our debt; our ability to successfully identify, consummate and integrate acquisitions and realize any or all of the anticipated synergies or other benefits of acquisitions; the effects that acquisitions may have on our financial leverage; risks associated with acquisitions generally, such as the inability to obtain, or delays in obtaining, required approvals under applicable antitrust legislation and other regulatory and third-party consents and approvals; lower than expected future levels of revenues and higher than expected future costs; failure or inability to implement growth strategies in a timely manner; the impact of goodwill or other indefinite-lived intangible asset impairment charges; the impact of long-lived asset impairment charges; currency fluctuations;  availability and pricing of electricity, electrodes and natural gas for mill operations; our ability to hire and retain key executives and other employees; competition from other materials or from competitors that have a lower cost structure or access to greater financial resources; information technology interruptions and breaches in security; our ability to make necessary capital expenditures; availability and pricing of raw materials and other items over which we exert little influence, including scrap metal, energy and insurance; unexpected equipment failures; losses or limited potential gains due to hedging transactions; litigation claims and settlements, court decisions, regulatory rulings and legal compliance risks, including those related to the Pacific Steel Group litigation and other legal proceedings; risk of injury or death to employees, customers or other visitors to our operations; and civil unrest, protests and riots.

1 Net leverage adjusted for acquisitions is a non-GAAP financial measure and is defined as net debt divided by modified consolidated EBITDA, both of which are also non-GAAP financial measures. Net debt is calculated as total debt minus cash and cash equivalents. Modified consolidated EBITDA is calculated as adjusted EBITDA for the trailing 12-month period, adjusted to (a) eliminate the impact of approximately $15.4 million of interest expense related to the judgment in the Pacific Steel Group litigation, (b) eliminate actual results from the precast business since the respective acquisition dates and (c) include $212 million of annualized EBITDA contribution from the precast business. Reconciliations to the most directly comparable measures prepared and presented in accordance with GAAP can be found in the financial tables that follow.

COMMERCIAL METALS COMPANY AND SUBSIDIARIES

FINANCIAL & OPERATING STATISTICS (UNAUDITED)

Three Months Ended

Year Ended

(in thousands, except per ton amounts)

8/31/2026

5/31/2026

2/28/2026

11/30/2025

8/31/2025

8/31/2026

8/31/2025

North America Steel Group

Net sales to external customers

$ 1,939,404

$ 1,789,381

$ 1,608,321

$ 1,661,058

$ 1,616,078

$            6,998,164

$            6,083,849

Adjusted EBITDA

317,473

253,487

269,674

293,906

239,416

1,134,540

742,485

Adjusted EBITDA margin

16.4 %

14.2 %

16.8 %

17.7 %

14.8 %

16.2 %

12.2 %

External tons shipped

Raw materials

460

482

358

384

374

1,684

1,410

Rebar

507

482

481

544

544

2,014

2,130

Merchant bar and other

311

268

235

251

244

1,065

992

Steel products

818

750

716

795

788

3,079

3,122

Downstream products

397

384

335

350

366

1,466

1,375

Average selling price per ton

Raw materials

$       981

$       873

$       985

$       900

$       881

$       935

$       876

Steel products

1,021

989

974

939

882

981

842

Downstream products

1,288

1,260

1,242

1,236

1,214

1,258

1,226

Cost of raw materials per ton

$       754

$       660

$       741

$       648

$       649

$       701

$       661

Cost of ferrous scrap utilized per ton

$       369

$       379

$       351

$       318

$       314

$       354

$       333

Steel products metal margin per ton

$       652

$       610

$       623

$       621

$       568

$       627

$       509

Construction Solutions Group

Net sales to external customers

$  431,375

$  394,574

$  314,425

$  198,277

$  221,753

$        1,338,651

$ 747,486

Adjusted EBITDA

101,725

97,411

53,420

39,581

50,630

292,137

137,721

Adjusted EBITDA margin

23.6 %

24.7 %

17.0 %

20.0 %

22.8 %

21.8 %

18.4 %

Europe Steel Group

Net sales to external customers

$  281,222

$  291,235

$  200,014

$  247,650

$  263,294

$            1,020,121

$  918,320

Adjusted EBITDA

15,586

34,665

(1,428)

10,929

39,098

59,752

69,282

Adjusted EBITDA margin

5.5 %

11.9 %

(0.7) %

4.4 %

14.8 %

5.9 %

7.5 %

External tons shipped

Rebar

106

136

69

119

117

430

412

Merchant bar and other

271

265

215

243

257

994

944

Steel products

377

401

284

362

374

1,424

1,356

Average selling price per ton

Steel products

$       712

$       697

$       672

$       651

$       668

$      684

$       647

Cost of ferrous scrap utilized per ton

$       363

$       367

$       356

$       345

$       351

$      359

$       357

Steel products metal margin per ton

$       349

$       330

$       316

$       306

$       317

$      325

$       290

COMMERCIAL METALS COMPANY AND SUBSIDIARIES

BUSINESS SEGMENTS (UNAUDITED)

Three Months Ended

Year Ended

(in thousands)

8/31/2026

5/31/2026

2/28/2026

11/30/2025

8/31/2025

8/31/2026

8/31/2025

Net sales to external customers

North America Steel Group

$ 1,939,404

$ 1,789,381

$ 1,608,321

$ 1,661,058

$ 1,616,078

$ 6,998,164

$ 6,083,849

Construction Solutions Group

431,375

394,574

314,425

198,277

221,753

1,338,651

747,486

Europe Steel Group

281,222

291,235

200,014

247,650

263,294

1,020,121

918,320

Corporate and Other

6,333

8,055

9,258

13,322

13,393

36,968

48,825

Total net sales to external customers

$ 2,658,334

$ 2,483,245

$ 2,132,018

$ 2,120,307

$ 2,114,518

$ 9,393,904

$ 7,798,480

Adjusted EBITDA

North America Steel Group

$  317,473

$  253,487

$  269,674

$  293,906

$  239,416

$ 1,134,540

$  742,485

Construction Solutions Group

101,725

97,411

53,420

39,581

50,630

292,137

137,721

Europe Steel Group

15,586

34,665

(1,428)

10,929

39,098

59,752

69,282

Corporate and Other

(52,356)

(49,654)

(70,410)

(55,848)

(50,716)

(228,268)

(508,765)

Total adjusted EBITDA

$  382,428

$  335,909

$  251,256

$  288,568

$  278,428

$ 1,258,161

$  440,723

COMMERCIAL METALS COMPANY AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF EARNINGS (UNAUDITED)

Three Months Ended August 31,

Year Ended August 31,

(in thousands, except share and per share data)

2026

2025

2026

2025

Net sales

$      2,658,334

$      2,114,518

$     9,393,904

$      7,798,480

Costs and operating expenses:

Cost of goods sold

2,156,827

1,721,710

7,642,218

6,578,324

Selling, general and administrative expenses

230,857

180,218

881,961

700,234

Interest expense

37,356

12,145

143,337

45,498

Litigation expense

3,776

3,776

15,356

362,272

Asset impairments

21

3,436

21

4,607

Net costs and operating expenses

2,428,837

1,921,285

8,682,893

7,690,935

Earnings before income taxes

229,497

193,233

711,011

107,545

Income tax expense

16,977

41,452

55,162

22,883

Net earnings

$        212,520

$        151,781

$       655,849

$          84,662

Earnings per share:

Basic

$              1.92

$              1.36

$             5.92

$              0.75

Diluted

1.91

1.35

5.86

0.74

Cash dividends per share

$              0.20

$              0.18

$             0.76

$              0.72

Average basic shares outstanding

110,570,463

111,677,574

110,857,469

112,994,381

Average diluted shares outstanding

111,542,800

112,705,122

111,864,867

114,086,750

COMMERCIAL METALS COMPANY AND SUBSIDIARIES

 CONSOLIDATED BALANCE SHEETS (UNAUDITED)

(in thousands, except share and per share data)

August 31, 2026

August 31, 2025

Assets

Current assets:

Cash and cash equivalents

$        775,676

$     1,043,252

Restricted cash

3,174

2,652

Accounts receivable (less allowance for doubtful accounts of $3,867 and $3,186)

1,440,260

1,200,881

Income tax receivable

131,557

799

Inventories

1,104,719

934,310

Prepaid and other current assets

352,441

312,924

Total current assets

3,807,827

3,494,818

Property, plant and equipment:

Land

246,300

170,823

Buildings and improvements

1,626,950

1,206,672

Equipment

4,172,111

3,477,813

Construction in process

188,637

449,616

6,233,998

5,304,924

Less accumulated depreciation and amortization

(2,780,284)

(2,562,151)

Property, plant and equipment, net

3,453,714

2,742,773

Intangible assets, net

431,681

210,815

Goodwill

2,138,616

386,846

Other noncurrent assets

426,059

336,582

Total assets

$    10,257,897

$     7,171,834

Liabilities and stockholders' equity

Current liabilities:

Accounts payable

$        540,901

$        358,373

Accrued contingent litigation-related loss

377,251

362,272

Other accrued expenses and payables

642,946

493,879

Current maturities of long-term debt

67,147

44,289

Total current liabilities

1,628,245

1,258,813

Deferred income taxes

354,298

184,645

Other noncurrent liabilities

264,420

225,044

Long-term debt

3,313,728

1,310,006

Total liabilities

5,560,691

2,978,508

Stockholders' equity:

Common stock, par value $0.01 per share; authorized 200,000,000 shares; issued 129,060,664 shares; outstanding 110,316,995 and 111,189,136 shares

1,290

1,290

Additional paid-in capital

423,334

406,916

Accumulated other comprehensive loss

(29,175)

(25,251)

Retained earnings

5,078,714

4,507,114

Less treasury stock, 18,743,669 and 17,871,528 shares at cost

(777,231)

(697,003)

Stockholders' equity

4,696,932

4,193,066

Stockholders' equity attributable to non-controlling interests

274

260

Total stockholders' equity

4,697,206

4,193,326

Total liabilities and stockholders' equity

$    10,257,897

$     7,171,834

COMMERCIAL METALS COMPANY AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

Year Ended August 31,

(in thousands)

2026

2025

Cash flows from (used by) operating activities:

Net earnings

$        655,849

$          84,662

Adjustments to reconcile net earnings to net cash flows from operating activities:

Depreciation and amortization

395,921

285,877

Stock-based compensation

43,932

37,053

Write-off of committed financing fees

11,563

—

Deferred income taxes and other long-term taxes

158,351

(98,304)

Write-down of inventory

333

2,473

Unrealized loss (gain) on undesignated commodity hedges

7,871

(2,804)

Unrealized loss (gain) on undesignated foreign exchange hedges

5,091

(5,453)

Amortization of debt issuance costs

4,812

1,529

Asset impairments

21

4,607

Net loss (gain) on sale of net assets

(741)

1,827

Litigation expense

15,356

362,272

Settlement of New Markets Tax Credit transaction

—

(2,786)

Other

2,110

5,568

Changes in operating assets and liabilities

(241,506)

38,549

Net cash flows from operating activities

1,058,963

715,070

Cash flows from (used by) investing activities:

Acquisitions, net of cash acquired

(2,516,424)

—

Capital expenditures

(579,844)

(402,821)

Proceeds from government assistance related to property, plant and equipment

15,000

50,000

Proceeds from the sale of property, plant and equipment

11,250

5,758

Proceeds from insurance

9,602

2,237

Other

(1,698)

(1,946)

Net cash flows used by investing activities

(3,062,114)

(346,772)

Cash flows from (used by) financing activities:

Proceeds from issuance of long-term debt, net

1,985,000

147,724

Repayments of long-term debt

(47,689)

(41,480)

Debt issuance costs

(8,489)

(622)

Committed financing fees

(11,563)

—

Proceeds from accounts receivable facilities

173,257

35,979

Repayments under accounts receivable facilities

(164,328)

(35,979)

Treasury stock acquired

(102,811)

(198,822)

Tax withholdings related to share settlements, net of purchase plans

(3,111)

(8,823)

Dividends

(84,249)

(81,433)

Contribution from non-controlling interest

14

12

Net cash flows from (used by) financing activities

1,736,031

(183,444)

Effect of exchange rate changes on cash

66

1,495

Increase (decrease) in cash and cash equivalents

(267,054)

186,349

Cash, restricted cash and cash equivalents at beginning of period

1,045,904

859,555

Cash, restricted cash and cash equivalents at end of period

$        778,850

$      1,045,904

COMMERCIAL METALS COMPANY
NON-GAAP FINANCIAL MEASURES (UNAUDITED)

This press release contains financial measures not derived in accordance with U.S. generally accepted accounting principles ("GAAP"). Reconciliations to the most comparable GAAP measure are provided below.

Adjusted EBITDA, core EBITDA, core EBITDA margin and adjusted earnings are non-GAAP financial measures. Adjusted earnings per diluted share is defined as adjusted earnings on a diluted per share basis. Core EBITDA margin is defined as core EBITDA divided by net sales. The adjustment "Settlement of New Markets Tax Credit transactions" represents the recognition of deferred revenue from 2016 and 2017 resulting from the Company's participation in the New Markets Tax Credit program provided for in the Community Renewal Tax Relief Act of 2000 during the development of a micro mill, spooler and T-post shop located in eligible zones as determined by the Internal Revenue Service. The adjustment "Litigation expense" represents a provision recorded in the three months ended November 30, 2024 related to the judgment in the Pacific Steel Group litigation and, with respect to subsequent periods, primarily represents interest expense on the judgment amount. The adjustments "Acquisition and integration related costs" and "Acquisition, integration and financing related costs" represent nonrecurring fees associated with the Foley Products Company, LLC ("Foley") and Concrete Pipe and Precast, LLC ("CP&P") acquisitions. The adjustment "Purchase accounting effect on inventory" represents a one time fair value adjustment on inventory associated with the Foley and CP&P acquisitions. The adjustment "Amortization of acquired contract backlog" represents the amortization of the contract backlog intangible asset from the Foley and CP&P acquisitions.

Net leverage adjusted for acquisitions is a non-GAAP financial measure and is defined as net debt divided by modified consolidated EBITDA, both of which are also non-GAAP financial measures. Net debt is calculated as total debt minus cash and cash equivalents. Modified consolidated EBITDA is calculated as adjusted EBITDA for the trailing 12-month period, adjusted to (a) eliminate the impact of approximately $15.4 million of interest expense related to the judgment in the Pacific Steel Group litigation, (b) eliminate actual results from the precast business since the respective acquisition dates and (c) include $212 million of annualized EBITDA contribution from the precast business. The estimated annualized EBITDA contribution from the precast business was derived by annualizing the precast business's actual results from the respective acquisition dates through August 31, 2026. The calculation also excludes the impact of the purchase accounting effect on inventory. The annualized figure assumes that the precast platform's results for the post-acquisition period are representative of a full fiscal year. The figure does not reflect actual results the precast platform generated or will generate in any 12-month period, and it was not prepared in accordance with Article 11 of Regulation S-X. Results for future periods may differ materially.

Non-GAAP financial measures should be viewed in addition to, and not as alternatives to, the most directly comparable measures derived in accordance with GAAP and may not be comparable to similar measures presented by other companies. However, we believe that the non-GAAP financial measures provide relevant and useful information to management, investors, analysts, creditors and other interested parties in our industry as they allow: (i) comparison of our earnings to those of our competitors; (ii) a supplemental measure of our underlying business operational performance; and (iii) the assessment of period-to-period performance trends. Furthermore, management believes net leverage adjusted for acquisitions provide useful information to investors, analysts, creditors and other interested parties about the Company's financial condition. Management uses non-GAAP financial measures to evaluate financial performance and, more specifically, uses net leverage adjusted for acquisitions to monitor the Company's balance sheet and make capital allocation decisions. 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 of metal margins, U.S. trade policy, cost levels of key production inputs, construction activity and related product demand and other factors. Accordingly, reconciliations of the forward-looking estimates of TAG-related EBITDA benefits to net earnings are not available at this time without unreasonable effort.

A reconciliation of net earnings to adjusted EBITDA and core EBITDA is provided below:

Three Months Ended

Year Ended

(in thousands)

8/31/2026

5/31/2026

2/28/2026

11/30/2025

8/31/2025

8/31/2026

8/31/2025

Net earnings

$ 212,520

$ 173,015

$  93,032

$ 177,282

$ 151,781

$ 655,849

$  84,662

Interest expense

37,356

40,205

40,928

24,848

12,145

143,337

45,498

Income tax expense

16,977

15,824

16,708

5,653

41,452

55,162

22,883

Depreciation and amortization

113,210

107,422

102,567

72,722

72,480

395,921

285,877

Asset impairments

21

—

—

—

3,436

21

4,607

Unrealized (gain) loss on undesignated commodity hedges

2,344

(557)

(1,979)

8,063

(2,866)

7,871

(2,804)

Adjusted EBITDA

382,428

335,909

251,256

288,568

278,428

1,258,161

440,723

Non-cash equity compensation

6,506

11,384

14,806

11,236

9,237

43,932

37,053

Settlement of New Markets Tax Credit transactions

—

—

—

—

—

—

(2,786)

Litigation expense

3,776

3,778

4,067

3,735

3,776

15,356

362,272

Acquisition and integration related costs

948

2,525

20,605

13,379

—

37,457

—

Purchase accounting effect on inventory

—

—

6,739

—

—

6,739

—

Core EBITDA

$ 393,658

$ 353,596

$ 297,473

$ 316,918

$ 291,441

$            1,361,645

$ 837,262

Net sales

$            2,658,334

$            2,483,245

$            2,132,018

$            2,120,307

$            2,114,518

$            9,393,904

$            7,798,480

Core EBITDA margin

14.8 %

14.2 %

14.0 %

14.9 %

13.8 %

14.5 %

10.7 %

A reconciliation of net earnings to adjusted earnings is provided below:

Three Months Ended

Year Ended

(in thousands, except per share data)

8/31/2026

5/31/2026

2/28/2026

11/30/2025

8/31/2025

8/31/2026

8/31/2025

Net earnings

$ 212,520

$ 173,015

$  93,032

$ 177,282

$ 151,781

$ 655,849

$  84,662

Asset impairments

21

—

—

—

3,436

21

4,607

Settlement of New Markets Tax Credit transactions

—

—

—

—

—

—

(2,786)

Litigation expense

3,776

3,778

4,067

3,735

3,776

15,356

362,272

Unrealized (gain) loss on undesignated commodity hedges

2,344

(557)

(1,979)

8,063

(2,866)

7,871

(2,804)

Acquisition, integration and financing related costs

948

2,525

20,605

24,942

—

49,020

—

Amortization of acquired contract backlog

19,750

19,750

17,729

—

—

57,229

—

Purchase accounting effect on inventory

—

—

6,739

—

—

6,739

—

Total adjustments (pre-tax)

$   26,839

$   25,496

$   47,161

$   36,740

$    4,346

$ 136,236

$ 361,289

Related tax effects on adjustments

(5,769)

(5,486)

(10,046)

(7,846)

(1,162)

(29,147)

(88,668)

Adjusted earnings

$ 233,590

$ 193,025

$ 130,147

$ 206,176

$ 154,965

$ 762,938

$ 357,283

Net earnings per diluted share(1)

$       1.91

$       1.55

$       0.83

$       1.58

$       1.35

$       5.86

$       0.74

Adjusted earnings per diluted share

$       2.09

$       1.73

$       1.16

$       1.84

$       1.37

$       6.82

$       3.13

(1) Net earnings per diluted share is calculated independently for each three month period and may not sum to the year to date period due to rounding.

As described above, net leverage adjusted for acquisitions represents net debt divided by modified consolidated EBITDA. Reconciliations of (i) net earnings to modified consolidated EBITDA and (ii) long-term debt to net debt are provided below:

Modified Consolidated EBITDA (as used in the calculation of net leverage adjusted for acquisitions)

Year Ended

(in thousands)

8/31/2026

Net earnings

$                655,849

Interest expense

143,337

Income tax expense

55,162

Depreciation and amortization

395,921

Asset impairments

21

Unrealized loss on undesignated commodity hedges

7,871

Adjusted EBITDA

1,258,161

Plus: Litigation expense

15,356

Less: Precast EBITDA contribution (actual)

143,540

Plus: Annualized precast EBITDA contribution

212,159

Modified consolidated EBITDA

$              1,342,136

Net Debt (as used in the calculation of net leverage adjusted for acquisitions)

8/31/2026

Long-term debt

$              3,313,728

Plus: Current maturities of long-term debt

67,147

Less: Short-term borrowings

8,642

Total debt

3,372,233

Less: Cash and cash equivalents

775,676

Net debt

$              2,596,557

Net leverage adjusted for acquisitions

1.9

SOURCE CMC

Analysts on Wall Street project that Commercial Metals (CMC - Free Report) will announce quarterly earnings of $1.97 per share in its forthcoming report, representing an increase of 43.8% year over year. Revenues are projected to reach $2.44 billion, increasing 15.6% from the same quarter last year.

The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.

Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.

While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.

Given this perspective, it's time to examine the average forecasts of specific Commercial Metals metrics that are routinely monitored and predicted by Wall Street analysts.

The average prediction of analysts places 'Net sales to external customers- Construction Solutions Group' at $399.07 million. The estimate points to a change of +80% from the year-ago quarter.

The collective assessment of analysts points to an estimated 'Net sales from external customers- North America' of $1.75 billion. The estimate indicates a year-over-year change of +8.1%.

According to the collective judgment of analysts, 'Net sales from external customers- Europe' should come in at $290.98 million. The estimate suggests a change of +10.5% year over year.

Based on the collective assessment of analysts, 'Net sales from external customers- Corporate and Other' should arrive at $10.36 million. The estimate points to a change of -22.7% from the year-ago quarter.

Analysts expect 'North America - Average selling price (per ton) - Raw materials' to come in at $938.73 . Compared to the present estimate, the company reported $881.00 in the same quarter last year.

Analysts' assessment points toward 'Europe - Steel products metal margin per ton' reaching $340.83 . Compared to the current estimate, the company reported $317.00 in the same quarter of the previous year.

It is projected by analysts that the 'North America - Average selling price (per ton) - Downstream products' will reach $1267.40 . The estimate is in contrast to the year-ago figure of $1214.00 .

Analysts forecast 'North America - Average selling price (per ton) - Cost of raw materials per ton' to reach $709.81 . Compared to the current estimate, the company reported $649.00 in the same quarter of the previous year.

The consensus estimate for 'North America - Average selling price (per ton) - Cost of ferrous scrap utilized per ton' stands at $365.35 . Compared to the present estimate, the company reported $314.00 in the same quarter last year.

Analysts predict that the 'North America - Average selling price (per ton) - Steel products metal margin per ton' will reach $620.16 . The estimate is in contrast to the year-ago figure of $568.00 .

The consensus among analysts is that 'Europe - Steel products (External tons shipped)' will reach 398.42 thousand. Compared to the current estimate, the company reported 374.00 thousand in the same quarter of the previous year.

The combined assessment of analysts suggests that 'Europe - Steel products - Rebar' will likely reach 125.58 thousand. The estimate is in contrast to the year-ago figure of 117.00 thousand.

View all Key Company Metrics for Commercial Metals here>>>

Commercial Metals shares have witnessed a change of -4.9% in the past month, in contrast to the Zacks S&P 500 composite's +2.4% move. With a Zacks Rank #3 (Hold), CMC is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

New industry collaboration addresses pharma's most complex development challenges and expedites patient access to breakthrough therapies

, /PRNewswire/ -- Rockwell Automation, Inc. (NYSE: ROK), the world's largest company dedicated to industrial automation and digital transformation, today announced it is a founding member of the Digital CMC Consortium, a not-for-profit, pre-competitive industry collaboration focused on advancing digital standards and infrastructure to accelerate drug development.

Rockwell Automation and Industry Leaders Launch the Digital CMC Consortium to Accelerate Digital Transformation in Pharmaceutical Development Pharmaceutical companies face growing pressure to accelerate development timelines and manage rising costs while meeting complex regulatory requirements. Yet Chemistry, Manufacturing and Controls (CMC) activities, which define how a drug is developed, manufactured, tested and controlled to ensure quality, remain a longstanding bottleneck in drug development due to manual, document-based workflows and a lack of process standardization. As therapies become more complex and personalized, CMC activities must evolve into structured, digital systems that accelerate technology transfer and enable seamless knowledge sharing and data-driven decision-making.

The Consortium brings together industry leaders across the CMC ecosystem — pharmaceutical organizations, biotechnology firms, contract development and manufacturing organizations (CDMOs), technology providers and consulting experts — to address these shared challenges through a coordinated, outcomes-focused approach. Founded by visionary leaders from companies such as Rockwell Automation, Novartis, Thermo Fisher Scientific, Takeda, Flagship's Pioneering Medicines, Stellix, ZS Associates and QbDVision, the Consortium harnesses collective expertise to solve industry-wide challenges no organization could tackle independently.

"Digital transformation in life sciences is not just about technology adoption, it is about building new ways of working that improve how therapies are developed and delivered," said Matt Weaver, vice president, global industry – life sciences, Rockwell Automation. "The Consortium reflects the partnership-driven approach needed to advance the pharma industry. With deep life sciences expertise and experience supporting both pharma innovators and the CDMOs, we are proud to work alongside fellow founding members to help shape the future of pharmaceutical manufacturing and CMC digitization, connecting development, manufacturing and commercialization across product lifecycle."

Following its first year of collaboration and proof-of-concept work, the Consortium is advancing toward broader industry adoption. Its immediate focus includes digital technology transfer and structured knowledge exchange between sponsors and CDMOs. Longer term, the Consortium aims to connect digital capabilities across the full CMC lifecycle, including knowledge management, automated content authoring, digital twins and artificial intelligence.

To learn more about the Digital CMC Consortium and how to get involved, visit www.digitalcmc.org.

About Rockwell Automation
Rockwell Automation, Inc. (NYSE: ROK), is a global leader in industrial automation and digital transformation. We connect the imaginations of people with the potential of technology to expand what is humanly possible, making the world more productive and more sustainable. Headquartered in Milwaukee, Wisconsin, Rockwell Automation employs approximately 26,000 problem solvers dedicated to our customers in more than 100 countries as of fiscal year end 2025. To learn more about how we are bringing the Connected Enterprise® to life across industrial enterprises, visit www.rockwellautomation.com.

About the Digital CMC Consortium
The Digital CMC Consortium is a pre-competitive not-for-profit industry collaboration organized around a singular goal: the end-to-end digitalization of Chemistry, Manufacturing, and Controls (CMC). The Consortium unites pharmaceutical organizations, CDMOs, consulting firms, and technology innovators to establish open digital standards across drug development and manufacturing, laying the foundation for the AI era in CMC. Upgrading this legacy infrastructure removes a major bottleneck, accelerating the delivery of life-saving therapies to the patients who need them urgently. Learn more at https://www.digitalcmc.org.

SOURCE Rockwell Automation, Inc.

Commercial Metals Company (NYSE:CMC) will release its fourth-quarter earnings report before the opening bell on Thursday, Oct. 15.

Analysts expect the Irving, Texas-based company to report quarterly earnings of $1.98 per share, up from $1.37 per share in the year-ago period. The consensus estimate for CMC’s quarterly revenue is $2.56 billion. It reported $2.11 billion last year, according to Benzinga Pro.

On Aug. 5, CMC raised its share repurchase program by $600 million.

Commercial Metals shares rose 1% to close at $62.72 on Thursday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

Cantor Fitzgerald analyst Dave Rochester maintained the stock with a Neutral rating and raised the price target from $30 to $31 on Aug. 19, 2026. This analyst has an accuracy rate of 59%. Citigroup analyst Benjamin Gerlinger maintained the stock with a Neutral rating and increased the price target from $29 to $32 on July 21, 2026. This analyst has an accuracy rate of 51%. Piper Sandler analyst Stephen Scouten maintained the stock with an Overweight rating and increased the price target from $33 to $36 on July 17, 2026. This analyst has an accuracy rate of 74%. Stephens & Co. analyst Matt Olney maintained an Overweight rating and raised the price target from $32 to $35 on July 17, 2026. This analyst has an accuracy rate of 69%. Keefe, Bruyette & Woods analyst Christopher Mcgratty maintained the stock with a Market Perform rating and boosted the price target from $30 to $32 on July 17, 2026. This analyst has an accuracy rate of 65%. Considering buying CMC stock? Here’s what analysts think:

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Key Takeaways Commercial Metals' TAG program targets higher margins, earnings, cash flow and ROIC through fiscal 2027.CMC expects TAG's gross annual EBITDA benefits to exceed $250 million by fiscal 2026.CMC targets fiscal 2029 core EBITDA of $1.65B-$1.80B, with a 15-16% core EBITDA margin. Commercial Metals Company (CMC - Free Report) continues to drive durable margin improvement through its TAG Transform, Advance, Grow (“TAG”) program. The company is benefiting from network optimization and commercial initiatives under the program.

The program focuses on driving higher through-the-cycle margins, earnings, cash flows and ROIC. CMC now expects run-rate gross EBITDA benefits to exceed$250 million by the end of fiscal 2026 from the program.

Launched in 2024, the TAG program aims to drive consistency across all areas of the business. The program is designed to optimize logistics, reduce input consumption, lower costs and boost energy efficiency. It includes more than 150 individual projects across the company’s business segments and support functions. The program is already fully integrated into CMC's continuous improvement culture. TAG is standardizing processes and extending expertise across the enterprise. It has enabled faster, data-driven decision-making.

The company expects gross annual EBITDA benefits to be more than $350 million by the end of fiscal 2027. Benefits from the TAG program, along with strong market dynamics and effective operational execution, will generate momentum in CMC's existing businesses.

Backed by its focus on transformation, the company expects to generate structurally higher margins and enhanced free cash flow. CMC expects its fiscal 2029 core EBITDA to be in the range of $1.65 billion to $1.80 billion, marking a surge of 106% at midpoint from $837 million delivered in fiscal 2025. Core EBITDA margin is expected to be in the range of 15-16%.

Growth Strategies by Other Steel StocksCleveland-Cliffs Inc. (CLF - Free Report) is investing $1 billion to modernize its Middletown Works facility in Ohio, supported by a $500 million award from the U.S. Department of Energy (“DOE”). Cleveland-Cliffs and the DOE will each fund $500 million of the project. The investment is expected to be deployed over the next four years while maintaining uninterrupted steel production at the facility. The project represents a rescoping of Cleveland-Cliffs’ previously planned decarbonization initiative at Middletown Works.

Carpenter Technology’s (CRS - Free Report) brownfield expansion finished fiscal 2026 on schedule and within budget. The project is slated for completion by the start of fiscal 2028, accelerating CRS’ earnings growth profile.

Carpenter Technology expects cash generation to further increase beyond fiscal 2027, driven by earnings expansion and profitability contributions from the brownfield project. Looking further ahead, Carpenter Technology set a fiscal 2029 operating income target of $1.2 to $1.3 billion, marking a solid jump from the $702 million reported in fiscal 2026. The upside will be fueled by a robust underlying demand environment and the added capacity from the brownfield expansion.

CMC’s Price Performance, Valuations & EstimatesCommercial Metals shares have gained 12.5% in the past year compared with the industry’s 73.7% growth. In comparison, the Zacks Basic Materials sector and the S&P 500 have returned 20.4% and 14.8%, respectively.

Image Source: Zacks Investment Research

Commercial Metals is currently trading at a forward price/sales ratio of 0.75 compared with the industry's 1.86.

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for Commercial Metals’ fiscal 2026 sales is pinned at $9.18 billion, indicating a 13.9% year-over-year jump. The consensus mark for the year’s earnings is pegged at $6.62 per share, indicating a year-over-year upsurge of 111.5%.

The Zacks Consensus Estimate for fiscal 2027 sales implies 7.3% year-over-year growth. The same for earnings suggests a dip of 9.2%.

EPS estimates for fiscal 2026 and 2027 have moved south over the past 60 days.

Image Source: Zacks Investment Research

CMC currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Hsbc Holdings PLC reduced its position in Commercial Metals Company (NYSE:CMC – Free Report) by 91.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 10,556 shares of the basic materials company’s stock after selling 114,520 shares during the period. Hsbc Holdings PLC’s holdings in Commercial Metals were worth $662,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CMC. Wellington Management Group LLP lifted its stake in shares of Commercial Metals by 17.8% in the 2nd quarter. Wellington Management Group LLP now owns 435,750 shares of the basic materials company’s stock valued at $27,343,000 after purchasing an additional 65,863 shares during the period. Archer Investment Corp acquired a new position in Commercial Metals in the second quarter valued at about $90,000. Beacon Pointe Advisors LLC acquired a new position in Commercial Metals in the second quarter valued at about $1,138,000. Empowered Funds LLC bought a new position in Commercial Metals during the second quarter worth about $769,000. Finally, United Capital Financial Advisors LLC acquired a new position in shares of Commercial Metals during the 2nd quarter worth about $216,000. 86.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. decreased their price target on shares of Commercial Metals from $86.00 to $83.00 and set an “overweight” rating for the company in a report on Wednesday, September 9th. Deutsche Bank Aktiengesellschaft upgraded Commercial Metals to a “buy” rating in a report on Friday, May 22nd. Weiss Ratings upgraded Commercial Metals from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday. BMO Capital Markets raised their price target on Commercial Metals from $77.00 to $80.00 and gave the stock a “market perform” rating in a research report on Thursday, August 6th. Finally, Bank of America decreased their price objective on Commercial Metals from $84.00 to $78.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Ten investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $81.64.

Get Our Latest Stock Analysis on CMC Commercial Metals Stock Down 3.2% NYSE:CMC opened at $64.99 on Tuesday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.54 and a current ratio of 2.33. Commercial Metals Company has a 52-week low of $53.08 and a 52-week high of $84.87. The company has a market cap of $7.19 billion, a PE ratio of 12.24, a PEG ratio of 0.35 and a beta of 1.52. The stock has a 50-day simple moving average of $68.37 and a 200 day simple moving average of $68.49.

Commercial Metals (NYSE:CMC – Get Free Report) last announced its quarterly earnings data on Thursday, June 25th. The basic materials company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.03. The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.40 billion. Commercial Metals had a net margin of 6.72% and a return on equity of 15.69%. The firm’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.74 earnings per share. On average, sell-side analysts expect that Commercial Metals Company will post 6.62 EPS for the current fiscal year.

Commercial Metals Dividend Announcement The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Monday, July 6th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Monday, July 6th. Commercial Metals’s dividend payout ratio is currently 15.07%.

Commercial Metals announced that its Board of Directors has approved a share repurchase plan on Wednesday, August 5th that permits the company to repurchase $600.00 million in shares. This repurchase authorization permits the basic materials company to buy up to 7.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Commercial Metals In related news, CEO Peter Matt acquired 8,230 shares of the firm’s stock in a transaction dated Friday, July 10th. The stock was bought at an average price of $61.30 per share, for a total transaction of $504,499.00. Following the acquisition, the chief executive officer directly owned 181,522 shares of the company’s stock, valued at approximately $11,127,298.60. The trade was a 4.75% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John McPherson bought 1,390 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was bought at an average cost of $71.92 per share, for a total transaction of $99,968.80. Following the transaction, the director owned 21,927 shares of the company’s stock, valued at $1,576,989.84. The trade was a 6.77% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.62% of the company’s stock.

Commercial Metals Profile (Free Report)

Commercial Metals Company (NYSE: CMC) is a steel and metals manufacturing and recycling company headquartered in Irving, Texas. Founded in 1915, the company began as a scrap-metal business and has grown into an integrated producer, recycler and fabricator serving construction and industrial markets.

CMC manufactures and distributes a range of steel products, including reinforcing bar, merchant bar, wire rod, structural products, wire mesh and other products used in concrete construction and infrastructure projects.

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Key Takeaways CMC's core EBITDA jumped 77.3% y/y to $968M in the first nine months of FY26.The acquired precast businesses contributed $52.9M to adjusted EBITDA in Q3.CMC targets FY29 core EBITDA of $1.65B-$1.80B and margins of 15-16%. Commercial Metals Company’s (CMC - Free Report) core EBITDA surged 77.3% year over year to $968 million in the first nine months of fiscal 2026, driven by metal margin expansion and contributions from the recently acquired precast businesses. The core EBITDA margin reached 14.4% in the same time frame compared with the prior year’s 9.6%.

Backed by healthy domestic demand, strong backlogs and ongoing benefits from strategic initiatives, CMC expects core EBITDA to further increase sequentially in the fourth quarter of fiscal 2026.

CMC closed two major acquisitions in December 2025 — Concrete Pipe and Precast, LLC ("CP&P") and Foley Products Company. The acquired businesses add manufactured concrete pipe and structures used in job-site infrastructure, boosting Commercial Metals’ early-stage construction offering beyond steel and geotechnical solutions. In the third quarter of fiscal 2026, the precast business contributed $52.9 million to adjusted EBITDA. The company expects the precast platform to generate $165-$175 million of EBITDA in fiscal 2026, with incremental annualized EBITDA of $240-$250 million and $30-$40 million of annualized synergies by the end of year three.

Commercial Metals is also benefiting from its Transform, Advance, Grow (“TAG”) Program, which focuses on driving higher through-the-cycle margins, earnings, cash flows and ROIC. CMC expects an annualized EBITDA benefit of more than $250 million in fiscal 2026 and more than $350 million by fiscal 2027 from the program.

On Aug. 5, Commercial Metals introduced its fiscal 2029 financial targets. Backed by its focus on transformation, the company expects to generate structurally higher margins and enhanced free cash flow. CMC expects its fiscal 2029 core EBITDA to be $1.65-$1.80 billion, suggesting a surge of 106% at mid-point from the $837 million delivered in 2025. The core EBITDA margin is expected to be 15-16%.

EBITDA Performance by Commercial Metals’ PeersSteel Dynamics, Inc. (STLD - Free Report) reported adjusted EBITDA of $1.62 billion in the first six months of 2026, marking a year-over-year increase of 65.1%. Steel Dynamics remains optimistic that domestic steel and aluminum consumption will stay strong through the remainder of 2026 and into 2027. The upside will be supported by improving customer sentiment, stronger order activity, better pricing, domestic trade actions, manufacturing reshoring and infrastructure investments. Steel Dynamics’s strategic investments are projected to boost the company's consolidated annual EBITDA by $650-$700 million.

Cleveland-Cliffs Inc. (CLF - Free Report) posted adjusted EBITDA of $381 million in the first six months of 2026 against a loss of 85 million in the prior year. Cleveland-Cliffs expects third-quarter 2026 adjusted EBITDA of $575 million, more than double the second-quarter results. Cleveland-Cliffs also expects fourth-quarter EBITDA to exceed its third-quarter guidance as average selling prices, shipment volumes and costs continue to move in a favorable direction.

CMC’s Price Performance, Valuations & EstimatesCommercial Metals shares have gained 18.3% in the past year compared with the industry’s 73.4% growth. In comparison, the Zacks Basic Materials sector and the S&P 500 have returned 34.6% and 23%, respectively.

Image Source: Zacks Investment Research

Commercial Metals is currently trading at a forward price/sales ratio of 0.76 compared with the industry's 1.85.

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for Commercial Metals’ fiscal 2026 sales is $9.18 billion, indicating a 17.7% year-over-year jump. The consensus mark for the year’s earnings is pegged at $6.64 per share, indicating a year-over-year upsurge of 112.1%.

The Zacks Consensus Estimate for fiscal 2027 sales implies 7.6% year-over-year growth. The same for earnings suggests a dip of 9.6%.

EPS estimates for fiscal 2026 and 2027 have moved north over the past 60 days.

Image Source: Zacks Investment Research

CMC currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Celularity Inc. (Nasdaq: CELU) (“Celularity”), a longevity-focused regenerative and cellular medicine company, and MuseCell Innovations® Pte. Ltd. (“MCI”), the owner of the Dezawa MuseCell platform, today announced an additional U.S.-based manufacturing collaboration under which Celularity will undertake activities to establish U.S. production of Dezawa MuseCells (“DMCs”) at Celularity’s Florham Park, New Jersey facility.

The initial program is designed to establish manufacturing capability for MCI-authenticated DMC preparations. Under the MCI platform, a preparation is authenticated as a DMC product through perinatal, bone marrow or adipose qualified starting material, manufactured under the licensed Dezawa Method and conformance to MCI’s product specifications. In addition to DMC manufacturing, the collaboration encompasses the manufacture of DMC-derived products, including Dezawa MuseExosomes and Dezawa MuseSecretome. Each product will be supported by dedicated manufacturing processes, analytical characterization, specifications and release criteria appropriate to its distinct product profile.

Following successful completion of the initial project, Celularity and MCI intend to build a broader manufacturing relationship across additional products and programs. Based on current market conditions and MCI’s projections for the Dezawa MuseCell platform, MCI believes that the expanded relationship could result in more than $300 million in aggregate purchases from Celularity over the next five years. This estimate reflects the potential scope of future programs beyond the initial project, which the parties would pursue together as the collaboration develops.

“Cellular medicine remains at the center of Celularity’s strategy, including our continued advancement of our proprietary placental-derived technologies,” said Robert J. Hariri, M.D., Ph.D., Founder, Chairman and Chief Executive Officer of Celularity. “Our collaboration with MCI demonstrates how the manufacturing infrastructure and cellular expertise we have built can also support innovative third-party technologies. We look forward to expanding U.S. manufacturing for the Dezawa MuseCell platform and working with MCI to manufacture additional products derived from the platform.”

“The ability to manufacture advanced cellular technologies reproducibly and at scale is fundamental to the future of medicine,” said Peter H. Diamandis, M.D., Co-Founder and Director of Celularity. “Bob Hariri and Mari Dezawa are both pioneers in cell therapy, and this collaboration brings together their complementary scientific vision and expertise. Celularity has invested in the infrastructure and capabilities required to manufacture sophisticated cellular products, both to advance our own placental-derived technologies and to support innovators such as MCI. This collaboration demonstrates how pioneering science, paired with scalable manufacturing, can accelerate the continued advancement of cellular medicine.”

Celularity operates a 147,215-square-foot, purpose-built facility in Florham Park, New Jersey, which includes a cGMP-ready manufacturing center with nine Grade C/ISO 7 and six Grade D/ISO 8 manufacturing suites designed for commercial production of cellular therapies and advanced biomaterials. Celularity’s integrated capabilities include process development, product specific chemistry, manufacturing and controls (CMC), advanced cell manufacturing, analytical methods and quality systems. The collaboration expands the utilization of Celularity’s manufacturing infrastructure and cellular medicine expertise while Celularity continues to advance its own proprietary cellular medicine programs, including cenplacel-L, its placental derived allogeneic cell therapy. The subsequent broader manufacturing collaboration is anticipated to generate more than 200 high-tech employment opportunities at the Florham Park site during the scope of the expanded collaboration, spanning specialized positions in biomanufacturing, quality control, engineering and support functions.

“By bringing a $300 million in business and more than 200 new jobs to New Jersey, Celularity and MuseCell Innovations are making it clear that our state is open for business. I first visited Celularity in 2022, and its trajectory from a homegrown startup here in New Jersey to a thriving public company is everything that drives my optimism about the potential of the New Jersey innovation economy. Advanced biomanufacturing continues to grow as a strong pillar of our economy, and investments like this are critical to driving job growth across our state. New Jersey is the medicine chest of the world, and my administration will keep working to make our government more accountable for businesses and position our state as the global leader in life sciences,” said New Jersey Governor Mikie Sherrill.

A Source-Flexible Platform Defined by the Dezawa Method

Professor Mari Dezawa, M.D., Ph.D., discovered Muse cells as a naturally occurring, stress enduring cell population. Dezawa MuseCell biology and investigational applications have since been described in more than 170 peer-reviewed publications and evaluated in multiple human clinical studies. The Dezawa MuseCell platform combines qualified starting materials with the licensed Dezawa Method and MCI product specifications addressing identity, purity, viability, potency, traceability and lot release. This common manufacturing and quality framework is intended to preserve defined DMC identity across qualified bone marrow, adipose and perinatal sources while allowing source-specific biological characteristics to be evaluated and controlled.

“Celularity brings the infrastructure and technical depth required to establish U.S. manufacturing across qualified bone marrow, adipose and perinatal sources,” said Dominik Duscher, M.D., Ph.D., Chief Executive Officer and President of MuseCell Innovations. “The central scientific and quality principle is that Dezawa MuseCell identity is defined by manufacture under the licensed Dezawa Method and conformance to MCI’s product specifications—not by the anatomical source alone. That distinction allows the platform to expand without abandoning the methodology and standards that define the DMC phenomenon.”

“I discovered Dezawa MuseCells as a naturally occurring, stress-enduring cell population,” said Professor Mari Dezawa, M.D., Ph.D., Chair of MCI’s Scientific Advisory Board. “As manufacturing expands across qualified tissues, reproducibility depends on preserving the Dezawa Method and the defining product characteristics on which the platform was developed. Celularity provides an important opportunity to scale that approach in the United States, adding another home to the DMC global production.”

Quality, Traceability and Manufacturing Control

MCI’s platform is designed to document source qualification, manufacturing authorization, lot level testing and chain of custody through authorized distributors. The collaboration is intended to expand MCI’s U.S. manufacturing network while preserving product-specific quality controls and the distinction between MCI-authenticated DMC products and unverified SSEA-3-positive preparations manufactured outside the licensed Dezawa Method and MCI’s release framework.

About Celularity

Celularity Inc. (Nasdaq: CELU) is a longevity-focused regenerative and cellular medicine company developing and manufacturing allogeneic and autologous cell therapies derived from the postpartum placenta. Celularity leverages the placenta’s unique biology, immunologic properties and scalable availability to develop therapeutic solutions targeting fundamental mechanisms of aging and age-related disease. Celularity’s cellular therapy portfolio includes cenplacel-L, its placental-derived allogeneic cell therapy, and other investigational cellular therapies. Celularity is headquartered in Florham Park, New Jersey, where it operates a purpose built facility supporting the development and manufacture of cellular therapies and advanced biomaterials.

For more information, please visit www.celularity.com.

About MuseCell Innovations

MuseCell Innovations® Pte. Ltd. (“MCI”), headquartered in Singapore, is the owner of the Dezawa MuseCell platform based on the discoveries of Professor Mari Dezawa, M.D., Ph.D. The platform encompasses Dezawa MuseCells, Dezawa MuseExosomes and Dezawa MuseSecretome and is defined by licensed manufacturing, MCI-controlled product specifications, lot-level testing and traceability. Muse cell biology and investigational applications have been described in more than 170 peer-reviewed publications and evaluated in multiple human clinical studies.

For more information, please visit www.musecellinnovations.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the U.S. federal securities laws, including statements regarding the collaboration between Celularity and MCI; the timing, execution and success of technology transfer, process development, manufacturing readiness activities, qualification, scale-up and product release; Celularity’s ability to establish manufacturing capability for DMCs from qualified bone marrow, adipose and perinatal sources; the ability of the licensed Dezawa Method and MCI product specifications to support reproducible manufacturing across source materials; the parties’ efforts to expand manufacturing to DMC-derived products; Celularity’s proprietary cellular medicine programs; and the parties’ plans and objectives in cellular medicine, regenerative medicine and longevity; and MCI’s estimate that its aggregate purchases from Celularity could exceed $300 million over the next five years.

Forward-looking statements are based on current expectations, estimates, assumptions and beliefs and are subject to risks and uncertainties that could cause actual results to differ materially. These risks include, among others, inability to complete technology transfer, qualify or validate a manufacturing process, achieve target yields, demonstrate comparability or release product; source-material and batch variability; unexpected technical or development challenges; safety, quality, regulatory, legal, intellectual-property, supply-chain, financing and commercial risks; changes in applicable laws or regulatory interpretations; and other risks described in Celularity’s filings with the U.S. Securities and Exchange Commission. The estimated value of potential purchases and statements regarding potential employment opportunities are based on current market conditions and assumptions regarding future demand, production requirements, product mix, pricing, successful manufacturing qualification, the scope and timing of any expansion of the collaboration, anticipated production volumes, staffing requirements and the parties’ continued collaboration. These statements do not constitute binding purchase or employment commitments, and there can be no assurance that MCI will make purchases in the amounts or within the time periods anticipated, or at all beyond its existing contractual commitments, or that any particular number of employment opportunities will be created, supported or retained, within any anticipated timeframe or at all. Neither cenplacel-L nor any MCI product described in this release has been approved or licensed by the U.S. Food and Drug Administration for any indication or use. Except as required by law, Celularity undertakes no obligation to update or revise any forward-looking statement.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260827982573/en/

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Stock to Watch: Commercial Metals (CMC - Free Report) Commercial Metals Company manufactures, recycles and markets steel and metal products, related materials and services. It operates a network that includes seven electric arc furnace mini mills, two electric arc furnace micro mills, a rerolling mill, steel fabrication and processing plants, construction-related product warehouses, and metal recycling facilities in the United States and Poland.

CMC is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.

It also boasts a Value Style Score of A thanks to attractive valuation metrics like a forward P/E ratio of 10.36; value investors should take notice.

Two analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $0.10 to $6.64 per share. CMC also boasts an average earnings surprise of +5.3%.

With a solid Zacks Rank and top-tier Value and VGM Style Scores, CMC should be on investors' short list.

AN2 Therapeutics, Inc. (Nasdaq: ANTX), a clinical stage biopharmaceutical company focused on the discovery and development of novel small molecule therapeutics

Posted by Defense World Staff on Aug 9th, 2026

Amundi lifted its holdings in Commercial Metals Company (NYSE:CMC – Free Report) by 118.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 20,443 shares of the basic materials company’s stock after purchasing an additional 11,065 shares during the quarter. Amundi’s holdings in Commercial Metals were worth $1,256,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Global Retirement Partners LLC grew its stake in shares of Commercial Metals by 110.7% in the 4th quarter. Global Retirement Partners LLC now owns 573 shares of the basic materials company’s stock worth $40,000 after buying an additional 301 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Commercial Metals during the 4th quarter valued at about $54,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Commercial Metals by 617.2% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 832 shares of the basic materials company’s stock valued at $58,000 after acquiring an additional 716 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in Commercial Metals in the fourth quarter worth about $59,000. Finally, EverSource Wealth Advisors LLC grew its position in Commercial Metals by 105.0% in the first quarter. EverSource Wealth Advisors LLC now owns 1,222 shares of the basic materials company’s stock worth $75,000 after acquiring an additional 626 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

Insider Activity In other news, CEO Peter R. Matt purchased 8,230 shares of the stock in a transaction that occurred on Friday, July 10th. The stock was purchased at an average price of $61.30 per share, for a total transaction of $504,499.00. Following the completion of the acquisition, the chief executive officer owned 181,522 shares of the company’s stock, valued at approximately $11,127,298.60. This trade represents a 4.75% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.62% of the company’s stock.

Key Commercial Metals News Here are the key news stories impacting Commercial Metals this week:

Positive Sentiment: Share buyback supports the stock: Commercial Metals authorized a program to repurchase up to $600 million of its outstanding shares, representing as much as 7.5% of the company’s stock. The authorization signals management believes the shares are undervalued and could support earnings per share by reducing the share count. Commercial Metals to Repurchase $600 Million in Outstanding Shares Positive Sentiment: Zacks raises longer-term EPS estimates: Zacks Research increased its forecasts across several periods, including Q1 2027 EPS to $1.79 from $1.77, FY2027 EPS to $7.13 from $7.08, and FY2028 EPS to $7.32 from $7.27. Estimates for Q4 2027, Q1-Q3 2028 were also raised by $0.01 per share, suggesting slightly improved expectations for future profitability. Neutral Sentiment: Analyst target rises, but rating remains cautious: BMO Capital Markets lifted its price target for CMC from $77 to $80 while maintaining a “Market Perform” rating. The higher target offers moderate potential upside, but the unchanged rating indicates BMO does not expect substantial outperformance relative to the broader market. BMO Capital Markets Raises Commercial Metals Price Target Wall Street Analysts Forecast Growth A number of equities research analysts have issued reports on the company. The Goldman Sachs Group restated a “buy” rating and set a $85.00 price objective on shares of Commercial Metals in a research report on Thursday. BNP Paribas Exane upgraded Commercial Metals from a “neutral” rating to an “outperform” rating and set a $75.00 price target on the stock in a report on Wednesday, July 8th. Bank of America lowered their price target on Commercial Metals from $84.00 to $78.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. BMO Capital Markets lifted their price objective on shares of Commercial Metals from $77.00 to $80.00 and gave the stock a “market perform” rating in a research note on Thursday. Finally, Morgan Stanley increased their target price on shares of Commercial Metals from $83.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, June 22nd. Ten equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $81.18.

Read Our Latest Research Report on Commercial Metals

Commercial Metals Stock Performance CMC stock opened at $75.17 on Friday. The company has a quick ratio of 1.54, a current ratio of 2.33 and a debt-to-equity ratio of 0.73. The business’s fifty day simple moving average is $69.80 and its two-hundred day simple moving average is $70.32. Commercial Metals Company has a twelve month low of $52.74 and a twelve month high of $84.87. The firm has a market cap of $8.32 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 0.43 and a beta of 1.52.

Commercial Metals (NYSE:CMC – Get Free Report) last issued its earnings results on Thursday, June 25th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.03. The firm had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.40 billion. Commercial Metals had a net margin of 6.72% and a return on equity of 15.69%. The business’s revenue was up 22.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.74 earnings per share. Analysts predict that Commercial Metals Company will post 6.64 earnings per share for the current year.

Commercial Metals announced that its board has authorized a stock repurchase plan on Wednesday, August 5th that permits the company to repurchase $600.00 million in shares. This repurchase authorization permits the basic materials company to repurchase up to 7.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Commercial Metals Announces Dividend The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Monday, July 6th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Monday, July 6th. Commercial Metals’s payout ratio is currently 15.07%.

Commercial Metals Profile (Free Report)

Commercial Metals Company (NYSE: CMC) is a leading global steel and metal recycler, manufacturer and fabricator based in Irving, Texas. The company operates an integrated network of scrap recycling facilities, electric arc furnace steel mills, metal fabrication plants and distribution centers. Through these operations, Commercial Metals collects and processes ferrous scrap to produce finished steel products and provides recycled metal to a variety of end markets.

In its steelmaking segment, CMC uses electric arc furnace technology to transform recycled scrap into reinforcing bar (rebar), merchant bar, coil and structural products.

Further Reading Five stocks we like better than Commercial Metals Quantum Earnings Week: Winners and Losers Are Finally Emerging Axon’s Post-Earnings Pullback May Be More About Valuation Than Growth Uber Stock Lags in 2026, But Cash Flow and AV Bets Fuel Upside AppLovin Stock Hits 52-Week Low as Analysts Trim Targets, Stay Bullish

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Commercial Metals Stock Price Poised to Slingshot Higher in Q3Commercial Metals NYSE: CMC used its 2026 Investor Day to outline a strategy centered on expanding its early-stage construction offerings, improving operating performance and generating higher cash flow and returns by fiscal 2029.

President and CEO Peter Matt said the company is evolving from a steel-focused business into a diversified supplier of early-stage construction solutions, with more than 90% of its products used from construction planning through structural framing. The company operates North America Steel, Europe Steel and Construction Solutions segments.

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3 Discounted Steel Stocks You Can DCA Into TodayCMC reported revenue of $8.8 billion and EBITDA of $1.3 billion, according to Matt. Construction Solutions currently represents 28% of adjusted, or core, EBITDA, and CMC aims to increase that contribution to more than 40% over the next three years, including potential acquisitions not included in its financial targets.

2029 Financial Targets The company introduced mid-cycle fiscal 2029 targets that assume a stable operating environment, a 25% tariff at the low end of the range and no additional acquisitions. CMC is targeting core EBITDA of $1.65 billion to $1.8 billion, representing a 10% to 13% compound annual growth rate from trailing-12-month EBITDA.

Core EBITDA of $1.65 billion to $1.8 billion by fiscal 2029. Free cash flow, defined as EBITDA less capital expenditures, of $1.4 billion to $1.5 billion. Return on invested capital of 13% to 14.5%. Construction Solutions EBITDA of about $500 million from existing assets. Cleveland-Cliffs Stock Rises On Earnings, New Momentum? CFO Paul Lawrence said the projected free-cash-flow increase would be driven by both earnings growth and the end of the company’s major mill investment cycle. He said CMC expects capital expenditures associated with its West Virginia mill to decline significantly in coming quarters. The company expects the free-cash-flow ramp to begin in fiscal 2027.

Lawrence also said CMC’s board increased its share repurchase authorization by $600 million. The company intends to execute the authorization during the three-year financial-target period while continuing to pay dividends and pursue growth investments.

TAG Program Targets Cost, Commercial Improvements Senior Vice President of Operational and Commercial Excellence Ty Garrison described CMC’s Transform, Advance, Grow, or TAG, program as an enterprise-wide operating system rather than a one-time cost-cutting initiative. The program is intended to standardize best practices, improve productivity and strengthen commercial discipline.

CMC expects TAG to deliver more than $250 million in gross run-rate EBITDA benefits by the end of fiscal 2026 and more than $350 million by the end of fiscal 2027. Management said approximately $200 million of that amount is expected to represent durable margin improvement after accounting for inflation.

Examples cited by Garrison included a scrap optimization initiative using artificial intelligence and proprietary operational data that has generated more than $20 million in annual run-rate savings. The company also cited fabrication improvements, including increased tons per truckload and improved rebar yield.

Garrison said the company has avoided more than $180 million of capital spending since implementing a more centralized capital-planning process, a new capital-expenditure platform and a capital investment committee.

Steel Network and Construction Solutions Growth North America Steel Group Senior Vice President Brian Halloran said CMC’s Arizona and West Virginia micro mills will complete the company’s nationwide mill network. Management said it does not expect to need another mill after those projects are fully ramped.

Halloran said the steel business is benefiting from industry consolidation, trade actions and a “value over volume” commercial approach. CMC said trade actions completed or underway address more than 80% of rebar imports over the past five years, representing about 1 million tons. The company also said it expects imports from South Korea to decline in the second half of the year based on the economics of bringing material into the U.S.

CMC is targeting more than $130 million of identified run-rate savings opportunities in its mill operations and more than $30 million of commercial benefits. Halloran said its fabrication initiative, called Fab Full Potential, is designed to double the business’s through-cycle performance through improved execution, standalone returns and risk-management tools.

In Construction Solutions, the company highlighted its recently acquired precast operations, CP&P and Foley Products. Precast Group Senior Vice President Keith Haas said the combined business has 35 plants and leading positions in the Southeast and Mid-Atlantic. CMC expects $30 million to $40 million of gross run-rate synergies from the acquisitions by the end of the third year.

Haas said precast expands CMC’s addressable market by $20 billion and offers a lower-capital-intensity business with durable pricing, higher margins and high cash conversion. The company is pursuing targeted growth investments in Colorado, Florida and the Mid-Atlantic dry-utilities market.

Senior Vice President Mike Doucet said CMC’s Emerging Businesses Group generated $809 million in revenue, up 12% year over year, and adjusted EBITDA of $155 million, up more than 19%. The portfolio includes Tensar geogrid products, corrosion-resistant reinforcing steel and construction services. CMC is commissioning a second geogrid line in Oklahoma and plans to commission a second GalvaBar facility in Tennessee this fall.

Matt said CMC’s focus remains on executing its transformation, using disciplined acquisitions to expand existing early-stage construction capabilities and divesting assets that no longer fit its strategy when market conditions are appropriate.

About Commercial Metals (NYSE:CMC)Commercial Metals Company NYSE: CMC is a leading global steel and metal recycler, manufacturer and fabricator based in Irving, Texas. The company operates an integrated network of scrap recycling facilities, electric arc furnace steel mills, metal fabrication plants and distribution centers. Through these operations, Commercial Metals collects and processes ferrous scrap to produce finished steel products and provides recycled metal to a variety of end markets.

In its steelmaking segment, CMC uses electric arc furnace technology to transform recycled scrap into reinforcing bar (rebar), merchant bar, coil and structural products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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, /PRNewswire/ -- CMC (NYSE: CMC) (the "Company") today will host its 2026 Investor Day in New York City, where members of the Company's leadership team will outline CMC's strategic vision, growth opportunities, capital allocation framework, and long-term financial targets.

"Over the last several years, we have taken deliberate steps to transform CMC into an industry-leading provider of solutions across the early-stage construction ecosystem." said Peter Matt, President and Chief Executive Officer. "We are building a stronger, more differentiated business uniquely positioned to support customers in meeting robust construction demand. Our transformation will result in a company with structurally higher margins and enhanced free cash flow generation, which we believe will deliver superior shareholder value."

FY29 Financial Targets1

CMC will introduce the following fiscal 2029 mid-cycle financial targets:

Core EBITDA2: $1,650 million to $1,800 million Core EBITDA Margin3: 15.0% to 16.0% Return on Invested Capital (ROIC)4: 13.0% to 14.5% Free Cash Flow5: $1,375 million to $1,525 million Share Repurchase Program

Reflecting its ongoing commitment to enhancing shareholder value, earlier today it was announced that CMC's Board of Directors authorized an incremental $600 million share repurchase program, bringing the total available repurchase authorization to approximately $717 million.

Webcast

Today's event will be webcast live via the Investor Relations section of CMC's website at www.cmc.com. Investors and other interested parties are invited to join the virtual event by registering in advance at CMC Investor Day 2026. A replay of the webcast and accompanying materials will be available following the event.

About CMC

CMC is a Fortune 500 company headquartered in Irving, Texas, and a leading provider of early-stage construction solutions that support the foundational phases of modern infrastructure and building projects. Founded in 1915, CMC has grown from a single-site recycling operation to one of the largest U.S. manufacturers of steel reinforcing bar ("rebar"), a leading producer of subgrade soil stabilization and foundation enhancement solutions and a major supplier of concrete pipe and precast products.

Through an extensive manufacturing network primarily located in the United States and Central Europe, with strategic operations in the United Kingdom, Europe and Asia, CMC serves infrastructure, non-residential, residential, industrial and energy markets. While often unseen, CMC's products are essential to highways, bridges, airports, commercial buildings and other critical structures that support everyday life.

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of the federal securities laws with respect to the Company's strategy, operations and long-term growth outlook, capital allocation strategy and plans to repurchase shares of common stock under the authorized share repurchase program. The statements in this release that are not historical statements, are forward-looking statements. These forward-looking statements can generally be identified by phrases such as we or our management "expects," "anticipates," "believes," "estimates," "future," "intends," "may," "plans to," "ought," "could," "will," "should," "likely," "appears," "projects," "forecasts," "outlook" or other similar words or phrases, as well as by discussions of strategy, plans or intentions.

The Company's forward-looking statements are based on management's expectations and beliefs as of the time this news release was prepared. Although we believe that our expectations are reasonable, we can give no assurance that these expectations will prove to have been correct, and actual results may vary materially. Except as required by law, we undertake no obligation to update, amend or clarify any forward-looking statements to reflect changed assumptions, the occurrence of anticipated or unanticipated events, new information or circumstances or any other changes. Important factors that could cause actual results to differ materially from our expectations include those described in our filings with the U.S. Securities and Exchange Commission, including, but not limited to, in Part I, Item 1A, "Risk Factors" of our annual report on Form 10-K for the fiscal year ended August 31, 2025, as well as the following: changes in economic conditions which affect demand for our products or construction activity generally, and the impact of such changes on the highly cyclical steel industry; rapid and significant changes in the price of metals, potentially impairing our inventory values due to declines in commodity prices or reducing the profitability of downstream contracts within our vertically integrated steel operations due to rising commodity pricing; excess capacity in our industry, particularly in China, and product availability from competing steel mills and other steel suppliers including import quantities and pricing; the impact of additional steelmaking capacity expected to come online from a number of ongoing electric arc furnace projects in the U.S.; the impact of geopolitical conditions, including political turmoil and volatility, regional conflicts, terrorism and war on the global economy, inflation, energy supplies and raw materials; increased attention to environmental, social and governance ("ESG") matters, including any targets or other ESG, environmental justice or regulatory initiatives; operating and startup risks, as well as market risks associated with the commissioning of new projects could prevent us from realizing anticipated benefits and could result in a loss of all or a substantial part of our investments; impacts from global public health crises on the economy, demand for our products, global supply chain and on our operations; compliance with and changes in existing and future laws, regulations and other legal requirements and judicial decisions that govern our business, including increased environmental regulations associated with climate change and greenhouse gas emissions; involvement in various environmental matters that may result in fines, penalties or judgments; evolving remediation technology, changing regulations, possible third-party contributions, the inherent uncertainties of the estimation process and other factors that may impact amounts accrued for environmental liabilities; potential limitations in our or our customers' abilities to access credit and non-compliance with their contractual obligations, including payment obligations; activity in repurchasing shares of our common stock under our share repurchase program; financial and non-financial covenants and restrictions on the operation of our business contained in agreements governing our debt; our ability to successfully identify, consummate and integrate acquisitions and realize any or all of the anticipated synergies or other benefits of acquisitions; the effects that acquisitions may have on our financial leverage; risks associated with acquisitions generally, such as the inability to obtain, or delays in obtaining, required approvals under applicable antitrust legislation and other regulatory and third-party consents and approvals; lower than expected future levels of revenues and higher than expected future costs; failure or inability to implement growth strategies in a timely manner; the impact of goodwill or other indefinite-lived intangible asset impairment charges; the impact of long-lived asset impairment charges; currency fluctuations; global factors, such as trade measures, military conflicts and political uncertainties, including changes to current trade regulations, such as Section 232 trade tariffs and quotas, tax legislation and other regulations which might adversely impact our business; availability and pricing of electricity, electrodes and natural gas for mill operations; our ability to hire and retain key executives and other employees; competition from other materials or from competitors that have a lower cost structure or access to greater financial resources; information technology interruptions and breaches in security; our ability to make necessary capital expenditures; availability and pricing of raw materials and other items over which we exert little influence, including scrap metal, energy and insurance; unexpected equipment failures; losses or limited potential gains due to hedging transactions; litigation claims and settlements, court decisions, regulatory rulings and legal compliance risks, including those related to the Pacific Steel Group litigation and other legal proceedings; risk of injury or death to employees, customers or other visitors to our operations; and civil unrest, protests and riots.

1 We have not reconciled the forward-looking estimates of core EBITDA, core EBITDA margin, ROIC, and free cash flow to the comparable GAAP measures because applicable information for future periods, on which these reconciliations would be based, is not readily available due to uncertainty regarding future economic conditions. Accordingly, reconciliations of the forward-looking estimates of these non-GAAP measures are not available at this time without unreasonable effort. Non-GAAP financial measures should be viewed in addition to, and not as alternatives to, the most directly comparable measures derived in accordance with GAAP and may not be comparable to similar measures presented by other companies. However, we believe that the non-GAAP financial measures provide relevant and useful information to management, investors, analysts, creditors and other interested parties in our industry as they allow: (i) comparison of our earnings to those of our competitors; (ii) a supplemental measure of our underlying business operational performance; and (iii) the assessment of period-to-period performance trends.
2 Defined as net earnings plus interest expense, income tax expense, depreciation and amortization, asset impairments, unrealized loss on undesignated commodity hedges, non-cash stock-based compensation and certain other expenses including but not limited to settlement of New Markets Tax Credit transactions, litigation expense, acquisition and integration related costs and purchase accounting effect on inventory.
3 Defined as core EBITDA divided by net sales.
4 Defined as after-tax operating profit divided by total assets less cash and cash equivalents less non-interest-bearing liabilities.
5 Defined as consolidated core EBITDA less capital expenditures.

SOURCE CMC

SEATTLE and VANCOUVER, British Columbia, Aug. 03, 2026 (GLOBE NEWSWIRE) -- Achieve Life Sciences, Inc. (Achieve or the Company) (Nasdaq: ACHV), a late-stage specialty pharmaceutical company focused on the global development and commercialization of cytisinicline as a treatment for nicotine dependence, today announced the appointments of Ronald Dadino as Senior Vice President, Chemistry, Manufacturing and Controls (CMC) and Supply Chain, and Gloria Cosgrove as Senior Vice President, Quality. Both executives bring decades of leadership across pharmaceutical manufacturing, supply chain, and quality. They join Achieve as the Company advances cytisinicline toward resubmission of its New Drug Application (NDA) and anticipated U.S. commercial launch.

The appointments establish new, dedicated senior leadership over Achieve’s manufacturing, supply chain, and quality functions. Holding CMC, supply chain, and quality leadership in house, under executives with deep regulated-manufacturing experience, positions Achieve to manage these systems with rigor and control as it prepares for commercialization.

“Ron and Gloria are precisely the leaders we want building Achieve,” said Andrew D. Goldberg, MD, Chief Executive Officer of Achieve. “Between them they have taken complex products through global approval and built the quality systems that made those approvals possible. We rebuilt this part of the organization ahead of resubmission because manufacturing and quality will enable the delivery of a reliable medicine to patients.”

Mr. Dadino brings more than four decades of leadership in pharmaceutical chemistry, manufacturing and controls, technical operations, and supply chain. He began his career as a research pharmacist at Merck and went on to spend 13 years at Johnson & Johnson, where he served as Vice President, Development and Technical Operations and led organizations responsible for developing and commercializing complex products, including the global approval of first-in-class products. He has since held senior CMC, manufacturing, and supply chain leadership roles across the specialty pharmaceutical and biotechnology sector. At Achieve, he leads the Company’s CMC and supply chain organization, with responsibility for manufacturing, technical operations, and the end-to-end cytisinicline supply chain, from raw material through finished, packaged product.

“I have spent my career building and transferring manufacturing processes and standing up supply chains that hold up under regulatory scrutiny,” said Mr. Dadino. “Achieve has a differentiated medicine and is transitioning its finished product manufacturing to the United States. I look forward to building an operation that delivers cytisinicline reliably and at scale.”

Ms. Cosgrove brings more than 30 years of quality leadership across global pharmaceutical and biotechnology organizations. She spent 26 years at Boehringer Ingelheim in Global Quality Assurance before moving into senior quality leadership at Regeneron Pharmaceuticals. She subsequently served as Vice President, Quality at Seres Therapeutics, where she led quality through the approval of VOWST, the first FDA-approved orally administered microbiome-based therapeutic. Bringing a first-in-class live biotherapeutic through FDA approval required building chemistry, manufacturing, and quality systems for which no regulatory precedent existed. At Achieve, she leads the Company’s quality organization across manufacturing, clinical, and regulatory quality.

“In more than three decades in quality, I have learned that the systems you build decide whether a new drug ever reaches patients,” said Ms. Cosgrove. “Taking a first-of-its-kind therapeutic through approval showed me exactly how much rigor that requires. I am here to build that same standard across both the smoking and vaping cessation programs, from clinical development through commercial supply.”

Craig Donnelly has stepped down as Chief Operations Officer of Achieve, effective July 31, 2026. Responsibility for chemistry, manufacturing and controls, supply chain, and quality has transitioned to Mr. Dadino and Ms. Cosgrove. The Company thanks Mr. Donnelly for his contributions.

About Achieve Life Sciences, Inc.
Achieve Life Sciences, Inc. is a late-stage specialty pharmaceutical company focused on the global development and commercialization of cytisinicline as a treatment for nicotine dependence. Achieve’s New Drug Application (NDA) for cytisinicline for smoking cessation in adults is supported by two successfully completed Phase 3 studies and an open-label long-term safety study. Achieve has also completed a Phase 2 study of cytisinicline in nicotine e-cigarette cessation, conducted an end-of-Phase 2 meeting with the FDA, and has received Breakthrough Therapy designation for the vaping cessation indication.

About Cytisinicline
There are approximately 25 million adults in the United States who smoke combustible cigarettes, and tobacco use is currently the leading cause of preventable death.¹,²

In addition, there are nearly 18 million adults in the United States who use e-cigarettes, also known as vaping.¹ In 2025, approximately 1.4 million middle and high school students in the United States reported using e-cigarettes.³ There are no FDA-approved treatments indicated specifically as an aid to nicotine e-cigarette cessation. FDA has awarded the Commissioner’s National Priority Voucher for e-cigarette or vaping cessation and granted Breakthrough Therapy designation to address this critical need.

Cytisinicline is a plant-based alkaloid with a high binding affinity to the nicotinic acetylcholine receptor. It is believed to aid in treating nicotine addiction for smoking and e-cigarette cessation by interacting with nicotine receptors in the brain, reducing the severity of nicotine craving symptoms, and reducing the reward and satisfaction associated with nicotine products.

Forward Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements Achieve makes regarding the timing, nature and outcome of cytisinicline clinical development and regulatory review and approval, data results, the timing, nature and success of Achieve’s commercialization activities, the potential market size for cytisinicline, the potential benefits, efficacy, safety and tolerability of cytisinicline, the development and effectiveness of new treatments, the performance of Achieve’s third-party manufacturing partners, the successful launch and commercialization of cytisinicline, and statements concerning Achieve Life Sciences’ future plans and prospects. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Achieve may not actually achieve its plans or product development goals in a timely manner, if at all, or otherwise carry out its intentions or meet its expectations or projections disclosed in these forward-looking statements. These statements are based on management’s current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including those described in Achieve’s Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q. Achieve undertakes no obligation to update the forward-looking statements contained herein or to reflect events or circumstances occurring after the date hereof, other than as may be required by applicable law.

Achieve Contact
Nicole Jones
VP, Strategic Communications and Stakeholder Relations
[email protected]
425-686-1510

References
¹Agaku I. Tobacco Product Use among U.S. Adults, 2023–2024, NEJM Evidence, doi: 10.1056/EVIDpha2500339.
²World Health Organization. WHO Report on the Global Tobacco Epidemic, 2019. Geneva: World Health Organization, 2019.
³Eunice Park-Lee, Lauren M Dutra, Hannah Cowan, et al. Tobacco Product Use Among Middle and High School Students in the United States: National Youth Tobacco Survey, 2025, Nicotine & Tobacco Research, 2026; ntag116, doi.org/10.1093/ntr/ntag116.

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Analyst’s Disclosure: I/we have a beneficial long position in the shares of CB either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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Stock to Watch: Commercial Metals (CMC - Free Report) Commercial Metals Company manufactures, recycles and markets steel and metal products, related materials and services. It operates a network that includes seven electric arc furnace mini mills, two electric arc furnace micro mills, a rerolling mill, steel fabrication and processing plants, construction-related product warehouses, and metal recycling facilities in the United States and Poland.

CMC is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.

It also boasts a Value Style Score of A thanks to attractive valuation metrics like a forward P/E ratio of 9.88; value investors should take notice.

Three analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.12 to $6.63 per share. CMC boasts an average earnings surprise of +5.3%.

With a solid Zacks Rank and top-tier Value and VGM Style Scores, CMC should be on investors' short list.

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The Style Scores are broken down into four categories:

Value ScoreFinding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.

Growth ScoreGrowth investors, on the other hand, are more concerned with a company's financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.

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VGM ScoreWhat if you like to use all three types of investing? The VGM Score is a combination of all Style Scores, making it one of the most comprehensive indicators to use with the Zacks Rank. It rates each stock on their combined weighted styles, which helps narrow down the companies with the most attractive value, best growth forecast, and most promising momentum.

How Style Scores Work with the Zacks Rank The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.

Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +23.94% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.

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Stock to Watch: Commercial Metals (CMC - Free Report) Commercial Metals Company manufactures, recycles and markets steel and metal products, related materials and services. It operates a network that includes seven electric arc furnace mini mills, two electric arc furnace micro mills, a rerolling mill, steel fabrication and processing plants, construction-related product warehouses, and metal recycling facilities in the United States and Poland.

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With a solid Zacks Rank and top-tier Value and VGM Style Scores, CMC should be on investors' short list.

CMC Markets PLC (LSE:CMCX, FRA:T8Q) shares jumped more than 20% on Wednesday, changing hands at 562.5p, after the firm upgraded full-year 2027 income guidance after continued growth in its B2B business lifted expectations for margins and profit.

The online trading group said it now expects net operating income for FY2027 to be at least £550 million, materially ahead of its previous guidance range of £460 million to £480 million. EBITDA guidance was set at £250 million.

Operating expenses excluding variable remuneration are still expected to be approximately £280 million, leaving higher expected income to flow through a largely fixed cost base.

CMC said the performance reflected the scale of its B2B platforms, which are driving operational gearing and higher profit margins. It added that the B2B platform business remains positioned to scale, with several milestones expected over the next 12 months and a continuing pipeline of new opportunities.

The group’s next scheduled update is its HY2027 interim results on 19 November 2026.

Key Takeaways CMC beat Q3 earnings and revenue estimates despite outages, weather and scrap-cost pressure.North America Steel expects better Q4 prices, margins and volumes as outage impacts fade.Precast backlog hit a record, supporting CMC's maintained fiscal 2026 EBITDA outlook. Commercial Metals Company (CMC - Free Report) used its third-quarter fiscal 2026 call to argue that reported strength still understated the business. Management pointed to temporary outages, weather disruptions and scrap-cost pressure that held back an even better quarter.

The more important message for investors was forward-looking. Executives said those issues have started to reverse, while backlog, pricing and integration trends support a stronger fiscal fourth quarter.

CMC Says the Quarter Did Not Show Full PotentialCommercial Metals reported adjusted earnings per share of $1.73, which beat the Zacks Consensus Estimate of $1.60, delivering a surprise of 8.1%. Third-quarter revenues were $2.48 billion, which also surpassed the Zacks Consensus Estimate of $2.37 billion by 4.9%. 

President and CEO Peter Matt said the quarter reflected solid execution against the company’s strategic plan, but he stressed that results were dampened by temporary issues rather than a change in underlying demand. He tied the longer-term story to structurally higher margins, lower earnings volatility and a broader construction solutions footprint.

That framing mattered because management was not pitching the quarter as a peak. Instead, it positioned third-quarter performance as a transition point, with improving steel margins, better operating reliability and acquired precast assets beginning to add meaningfully to the earnings mix.

Commercial Metals Sees a Rebound in North AmericaThe North America Steel Group remained the central talking point. Adjusted EBITDA in the segment rose 41% year over year to $253.5 million, but it slipped sequentially as planned maintenance outages at seven of 10 mills, poor weather, and a lag between rising scrap costs and price increases weighed on results.

In the Q&A, a Goldman Sachs analyst pressed management on the bridge to a better fourth quarter. CFO Paul Lawrence said outages cost about $20 million and volume-related effects from weather, inventory tightness and commercial discipline cost roughly another $10 million. He added that those issues should reverse in the current quarter.

Matt also sounded firm on pricing. He said the recently announced steel price increases are taking hold and that CMC is not chasing discounting in the market. The company expects higher realized prices and improved metal margins in the fourth quarter, supported by healthy demand and major project activity.

CMC’s Precast Bet Is Moving to Center StageCommercial Metals’ Construction Solutions Group delivered one of the clearest strategic signals on the call. Net sales nearly doubled year over year to $394.6 million, and adjusted EBITDA increased 138% to $97.4 million, helped by $175.7 million of revenues and $52.9 million of EBITDA from the recently acquired precast businesses.

Management acknowledged that precast volumes were light in the quarter because shipment timing slipped by about two weeks and wet weather in the Southeast delayed deliveries. Still, Matt said the backlog reached a record level, and project releases have started to normalize heading into the fiscal fourth quarter.

That explains why CMC maintained its fiscal 2026 precast EBITDA outlook of $165 million to $175 million despite the third-quarter shortfall. Management also reiterated that the acquisitions are on plan operationally and commercially, with early lead sharing and network benefits already emerging.

Commercial Metals Finds More Than One TailwindCMC’s other margin lever remains its Transform, Advance, Grow program. Matt said the initiative is tracking well ahead of its targeted $150 million run-rate annualized benefit for fiscal 2026, with most gains so far coming from operational improvements such as scrap optimization, yield and logistics.

He used the Q&A to highlight a second phase of opportunity in commercial excellence. That includes cutting pricing leakage, deploying better tools and using the broader steel and precast platform to get involved earlier on large projects where CMC can influence design and capture more value.

Europe added another support point. The Europe Steel Group posted adjusted EBITDA of $34.7 million, aided by a $20.4 million CO2 credit and better market conditions. Management said CBAM, tighter EU safeguards and improving pricing are creating a more constructive supply-demand setup there.

CMC Nears a Cash Flow Inflection PointCapital allocation also drew scrutiny. Net leverage adjusted for acquisitions ended the quarter at 2.1x, and management said it remains confident in reaching below 2x by mid-2027 or sooner. Liquidity stood near $1.8 billion.

Matt said 2x leverage is the threshold that would reopen both larger shareholder returns and new growth opportunities. At the same time, he made clear that CMC wants more progress in integrating the two precast acquisitions before considering another sizable deal.

Lawrence added that fiscal 2027 capital spending should drop sharply as the West Virginia micro mill nears completion, setting up a stronger free cash flow profile. Management does not expect more mill investments, with future organic spending aimed at smaller, higher-return projects.

Commercial Metals Leaves With an Assertive ToneThe clearest read-through from the call was management’s confidence in the near-term setup. CMC expects a meaningful sequential increase in fourth-quarter core EBITDA, including about a $40 million benefit in North America from the end of outage impacts and from better volume and margins, plus mid-teens EBITDA growth in Construction Solutions.

Analyst questions focused on supply additions in rebar, imports, precast execution and Europe. Matt’s answers were notably direct, especially on market discipline, where he said CMC will prioritize value over volume and use trade remedies to defend the domestic market.

Taken together, management presented a company leaning into a more diversified earnings model. The tone was not built around a single quarter’s beat, but around improving margins, more stable end markets and a portfolio that management believes can generate stronger cash and lower volatility over time.

Zacks Signals Still Call for BalanceCMC carries a Zacks Rank #3 (Hold), alongside a Value Score of B, Growth Score of A, Momentum Score of A and VGM Score of A. In Zacks terms, the strongest combinations generally pair a Zacks Rank #1 (Strong Buy) or 2 (Buy) with Style Scores of A or B, while a Zacks Rank #3 can still be held when the score profile remains favorable. You can see the complete list of today’s Zacks #1 Rank stocks here.

The current mix points to attractive style characteristics across value, growth and momentum, but the Zacks Rank remains the primary signal in the framework. That rank can change as earnings estimate revisions move after the quarter, so the post-report revision trend remains the key factor to watch.

Commercial Metals Company (CMC) Q3 2026 Earnings Call Transcript