Commercial metals company reports fourth quarter fiscal 2022 results

Fourth quarter net earnings of $288.6 million, or $2.40 per diluted share, increased 89% compared with $152.3 million, or $1.24 per diluted share, in the prior year period; record annual net earnings of $1.2 billion generated record annual core ebitda of $1.6 billion; fourth quarter core ebitda of $419.0 million increased 64% year-over-year and was the second highest in company history core ebitda per ton of finished steel shipped increased by $113 from the prior year quarter; favorable market conditions and operational execution more than offset inflationary pressures  entering fiscal 2023 from a position of strength – historically high levels of construction backlog and bidding activity in north america; good activity levels in europe segment despite uncertain economic backdrop repurchased $106.3 million of common stock during the quarter; this week announced a 14% increase to the quarterly dividend irving, texas, oct. 13, 2022 /prnewswire/ -- commercial metals company (nyse: cmc) today announced financial results for its fiscal fourth quarter ended august 31, 2022.  net earnings were $288.6 million, or $2.40 per diluted share, on net sales of $2.4 billion, compared to prior year period net earnings of $152.3 million, or $1.24 per diluted share, on net sales of $2.0 billion.
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