The strong beat and raised guidance (via constructive FY27 outlook) should support the stock. Watch for precast recovery in Q1 and TAG program updates; the stock may re-rate if precast momentum improves.
Price Chart
Executive Summary
CMC reported a strong Q4 fiscal 2026 beat, with adjusted EPS of $2.09 (+21.9% vs consensus $1.71) and revenue of $2.66B (+4.3% vs consensus $2.55B). Core EBITDA grew 35.1% YoY to $393.7M, driven by North America Steel Group margin expansion and precast acquisitions, though precast results missed expectations due to residential softness. The company guided for a seasonally softer Q1 but maintained a constructive FY2027 outlook with backlogs near record levels.
Key Financial Metrics
Key Facts
- Q4 adjusted EPS of $2.09 vs consensus $1.71 (21.9% beat)
- Q4 revenue of $2.66B vs consensus $2.55B (4.3% beat)
- Core EBITDA grew 35.1% YoY to $393.7M, margin expanded 100bps to 14.8%
- North America Steel Group adjusted EBITDA +32.6% YoY to $317.5M, margin 16.4%
- Construction Solutions Group sales +94.5% YoY to $431.4M, but precast missed expectations
- Net leverage adjusted for acquisitions improved to 1.9x, below 2.0x target
- TAG program achieved $250M+ gross run-rate benefits; targeting $100M+ incremental FY27 benefits
- Q1 FY2027 guidance: NASG EBITDA expected nearly flat QoQ; CSG down seasonally; Europe up meaningfully
Financial Impact
Q4 adjusted EPS $2.09 vs $1.71 consensus; revenue $2.66B vs $2.55B consensus; core EBITDA $393.7M +35.1% YoY
Risk Factors
- Precast segment underperformance due to residential softness may persist
- Europe Steel Group EBITDA declined 60% YoY due to absence of CO2 credits
- Seasonal Q1 guidance implies near-flat NASG EBITDA and down CSG could disappoint
- Elevated interest expense ($37.3M vs $12.1M YoY) from debt-funded acquisitions
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000022444-26-000053 |
| Document: a4q26supplementaryslides.htm | 0000022444-26-000053 |
| Document: cmc-20261015.htm | 0000022444-26-000053 |
| Document: 0000022444-26-000053-index-headers.html | 0000022444-26-000053 |
| Document: 0000022444-26-000053-index.html | 0000022444-26-000053 |
| Document: 0000022444-26-000053.txt | 0000022444-26-000053 |
| 8-K Data (Synthetic) | 0000022444-26-000053 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 15, 2026 12d ago | 8-K | $65.37 $63.79 | ▼ −2.42% | ▼ −1.40% | $63.20 (−3.32%) |
Oct 13, 2026 14d ago | 8-K | $64.77 $64.65 | ▼ −0.19% | ▲ +0.97% | $63.20 (−2.42%) |
Sep 21, 2026 5w ago | Press Release | $65.00 | awaiting T+5 | — | $63.20 (−2.77%) |
Aug 27, 2026 8w ago | Press Release | $68.76 $68.75 | ▲ +0.01% | ▲ +0.28% | $63.20 (+8.09%) |
Aug 5, 2026 11w ago | 8-K | $75.67 $72.34 | ▼ −4.40% | ▼ −4.75% | $63.20 (−16.48%) |
Apr 13, 2026 28w ago | 8-K | $65.94 $67.52 | ▲ +2.40% | ▲ +1.00% | $63.20 (−4.16%) |
US Market Status
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