CMC FY 2023 Earnings Report — Commercial Metals Company Revenue & Financial Results | Market Cap Arena

Commercial Metals CompanyCMC

FY 2023 Earnings

Reported October 12, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$8.8B	—	$8.9B	—	-1.3%
Op. Income	$1.2B	—	$1.3B	—	-10.9%
Gross Margin	20.6%	—	20.8%	—	-0.2pp
Net Margin	9.8%	—	13.7%	—	-3.9pp
EPS (Diluted)	$7.25	—	$9.95	—	-27.1%
Free Cash Flow	$737M	—	$250M	—	194.6%

Revenue Flow

Item	Amount
REVENUE	$8.8B
Cost of Revenue	$7.0B
GROSS PROFIT	$1.8B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$644M
Other Expenses	$0
Operating Expenses	$644M
Cost & Expenses	$7.6B
OPERATING INCOME	$1.2B
Interest Income	$0
Interest Expense	$40M
Other Income/Expenses	-$46M
INCOME BEFORE TAX	$1.1B
Income Tax Expense	$262M
Net Income from Continuing Ops	$860M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$860M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$860M
D&A	$219M
EBIT	$1.2B
EBITDA	$1.4B
EPS	$7
EPS Diluted	$7

Income Statement

Item	Amount
REVENUE	$8.8B
Cost of Revenue	$7.0B
GROSS PROFIT	$1.8B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$644M
Other Expenses	$0
Operating Expenses	$644M
Cost & Expenses	$7.6B
OPERATING INCOME	$1.2B
Interest Income	$0
Interest Expense	$40M
Other Income/Expenses	-$46M
INCOME BEFORE TAX	$1.1B
Income Tax Expense	$262M
Net Income from Continuing Ops	$860M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$860M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$860M
D&A	$219M
EBIT	$1.2B
EBITDA	$1.4B
EPS	$7
EPS Diluted	$7

Cash Flow Statement

Item	Amount
Net Income	$860M
Depreciation & Amortization	$219M
Stock-Based Compensation	$61M
Deferred Income Tax	$52M
Other Non-Cash Items	$4M
Change in Working Capital	$149M
OPERATING CASH FLOW	$1.3B
Capital Expenditure	-$607M
Acquisitions (Net)	-$235M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$6M
NET CASH FROM INVESTING	-$835M
Net Debt Issuance	-$409M
Common Stock Repurchased	-$114M
Common Dividends Paid	-$75M
Other Financing Activities	-$2M
NET CASH FROM FINANCING	-$599M
FREE CASH FLOW	$737M
Net Change in Cash	-$84M

Balance Sheet

Item	Amount
Cash & Equivalents	$592M
Short-Term Investments	$0
Net Receivables	$1.2B
Inventory	$1.0B
Other Current Assets	$276M
TOTAL CURRENT ASSETS	$3.1B
PP&E (Net)	$2.4B
Goodwill	$386M
Intangible Assets	$259M
Long-Term Investments	$184M
Tax Assets	$0
Other Non-Current Assets	$256M
TOTAL NON-CURRENT ASSETS	$3.5B
TOTAL ASSETS	$6.6B
Account Payables	$364M
Short-Term Debt	$41M
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$844M
Long-Term Debt	$1.1B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$307M
Other Non-Current Liabilities	$253M
TOTAL NON-CURRENT LIABILITIES	$1.7B
TOTAL LIABILITIES	$2.5B
Common Stock	$1M
Additional Paid-In Capital	$395M
Retained Earnings	$4.1B
Treasury Stock	-$369M
Accum. Other Comp. Income	-$4M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$4.1B
Minority Interest	$241.0K
TOTAL EQUITY	$4.1B
TOTAL LIABILITIES & EQUITY	$6.6B
Total Debt	$1.2B
Net Debt	$562M