The company reported earnings of US$232.9 million, or US$1.90 per diluted share, compared to prior-year earnings of US$63.9 million, or US$0.53 per diluted share, according to an official press release.
 
"Our record first-quarter results again demonstrate the earnings power created by our strategic transformation of CMC,” said Barbara R. Smith, chair, president and chief executive officer.
 
“The portfolio of assets we have built, together with the exceptional execution by our team members, enabled our company to fully capitalize on a very strong market environment. Core EBITDA reached record levels for the third consecutive quarter, surpassing our previous record by 28% … on a trailing 12-month basis. This performance makes clear the enhanced financial and operational capabilities of today's CMC, and I am extremely proud of the efforts by our team that have made this possible."
 
The company yesterday announced it is building a micro-mill in the Eastern U.S.
 
Smith went on to say that the new micro-mill will help the company develop “meaningful synergies within the existing network of mills and downstream fabrication plants.”