CMC Reports $1.4B Annual Core EBITDA as Construction Supply Markets Expand
The construction-materials producer’s fiscal 2026 results provide a supplier-side view of the market, rather than a new Texas project award.
Irving-based CMC reported approximately $1.4 billion in consolidated core EBITDA for fiscal 2026, compared with $837.3 million in fiscal 2025. The October 15 results cover the financial year ended August 31 and provide a view of business conditions at a major construction-materials supplier.
The measure is an adjusted earnings indicator, not revenue, cash flow or the value of newly awarded construction work. It should not be used as a proxy for the size of a Texas building program.
Steel and infrastructure demand
CMC attributed the improvement to its North American steel business, acquired precast operations and internal performance initiatives. Fourth-quarter core EBITDA reached $393.7 million, up 35.1% year over year.
The company reported demand strength in energy, semiconductor manufacturing, industrial development and public infrastructure. Downstream backlog volumes increased 15.5% from a year earlier, while merchant-bar shipments benefited from industrial and data-center activity.
A mixed picture across construction markets
Residential weakness affected precast performance, particularly in the Southeast. That contrasted with stronger nonresidential and infrastructure demand, illustrating why a company-wide earnings increase should not be read as uniform growth across every construction sector.
The distinction matters for interpreting the construction pipeline. Major industrial and infrastructure projects purchase materials over extended delivery periods, while residential demand follows a different development cycle. An aggregate result combines those markets and cannot establish the timing of individual Texas projects.
What the figures measure
Core EBITDA is a non-GAAP performance measure. CMC separately reported fiscal-year net earnings of $655.8 million. Neither measure represents the value of new construction contracts.
The update provides a supplier perspective alongside this edition’s manufacturing, power and infrastructure announcements. Project owners and contractors still need project-specific quotations, specifications and delivery commitments; annual earnings and backlog growth do not establish the price or availability of a particular material order.