Steel Mills
January 12, 2021
CMC Sees Backlogs Stabilizing, Continued Margin Pressure
Written by Sandy Williams
Despite market challenges related to COVID-19, Commercial Metals Company reported earnings of $63.9 million on net sales of $1.4 billion for the first quarter of FY 2021. CMC is encouraged by stabilizing backlogs and a renewed enthusiasm by clients to move forward with projects.
“Market uncertainty continues to persist,” said Chairman, President and CEO Barbara Smith during the Q1 earnings call. “The prospect of future COVID-related lockdowns and their potential impact on the economy has led to hesitation among project owners to award new work.
