Commercial Metals Co
cmc.comCommercial Metals Company (NYSE: CMC) is a steel manufacturing company that operates a vertically integrated network of scrap metal recycling facilities, electric arc furnace mini mills, and downstream fabrication operations. Revenue is transactional, generated by selling steel products and fabricated downstream products at prices driven by average selling price per ton and volume shipped. CMC was founded in 1915 as a scrap yard in Dallas, Texas, and has grown into what it describes in its FY2025 10-K as the largest manufacturer and fabricator of rebar and the largest manufacturer of steel fence posts in the U.S. Operations run through three reportable segments: North America Steel Group, Europe Steel Group, and Emerging Businesses Group. Facilities primarily serve the construction industry, with demand concentrated in infrastructure, non-residential, residential, industrial, and energy generation end markets. Net sales are seasonally higher in the third and fourth fiscal quarters due to spring and summer construction activity.
Products & Services
Products include rebar (including hot-rolled spooled and re-spooled rebar), merchant bar, light structural and special sections, billets, wire rod, fabricated rebar, steel fence posts, wire mesh, post-tension cable, and prefabricated modular bridge components (CMC Bridge Systems, via licensing agreement with InQuik Inc.). Raw materials include ferrous and nonferrous scrap metal processed at recycling facilities.
Revenue Model
Transactional revenue from selling steel products (rebar, merchant bar, light structural sections, billets, wire rod), downstream fabricated products (fabricated rebar, steel fence posts, wire mesh, post-tension cable), and raw materials (ferrous and nonferrous scrap). Pricing is driven by average selling price per ton and tons shipped, as disclosed in the FY2025 10-K (filed 2025-10-16).
Customers & Markets
Primary customers are in the construction industry, spanning infrastructure, non-residential, residential, industrial, and energy generation and transmission applications. No individual customer concentration percentages are disclosed in the filing excerpts.
Geographic Exposure
Operations principally located in the United States and Central Europe (Poland). The Europe Steel Group segment consists of 12 scrap metal recycling facilities, one EAF mini mill, and fabrication operations, all in Poland. The filing also references economic exposure to the U.S., United Kingdom, Central Europe, and China.
Financial Snapshot
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