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Commercial Metals Company (CMC+0.48%) has submitted its 10-Q filing for the quarterly period ended February 28, 2025.
The filing reports net sales of $1,754,376,000 for the quarter, a decrease from $1,848,287,000 in the same quarter the previous year. The decline is attributed to reductions in average selling prices for steel and downstream products.
Net earnings for the quarter were $25,473,000, compared to $85,847,000 in the previous year. The decrease is primarily due to compressed metal margins and increased competitive pricing.
The company recorded a litigation expense of $354,720,000 related to a verdict in favor of Pacific Steel Group. This expense significantly impacted net earnings for the six months ended February 28, 2025.
Cash provided by operating activities was $245,465,000, while cash used in investing and financing activities was $175,144,000 and $169,949,000, respectively.
Commercial Metals Company reported adjusted EBITDA of $153,089,000 for the quarter, down from $222,294,000 in the previous year. The decrease is attributed to lower metal margins.
The filing highlights the company's ongoing construction of its fourth micro mill in West Virginia, with commissioning expected to start in late 2025.
The company continues to focus on its Transform, Advance and Grow initiative, aimed at enhancing operational efficiency and margin improvement.
Commercial Metals Company does not anticipate any material changes to its liquidity position and expects to meet its short-term and long-term financial obligations.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Commercial Metals Company quarterly 10-Q report dated March 25, 2025. To report an error, please email earnings@qz.com.