Adjusted EBITDA for CMC’s North American operations jumped 53% from the prior year, reaching US$262.1 million in the second quarter. The company’s European earnings also skyrocketed from 2021 levels, increasing 404% year on year to an adjusted EBITDA of US$81.1 million.

The company contributed the success to continuing strong customer demand, high selling margins over scrap prices, and an uptick in orders due to the incoming construction season in North America.

Looking ahead, Commercial Metals Company chairman of the board, president and chief executive officer Barbara Smith said, “We look forward to building on CMC's already world-class assets and operating platform with the addition of Tensar Corporation and the commissioning of our energy efficient rebar and merchant bar–capable Arizona 2 micro-mill project. This growth, together with our recently announced micro-mill in the Eastern U.S., represents the next chapter in CMC's compelling story, which we expect will propel our organization to an even higher level of through-the-cycle earnings and return on capital.”

Read the full earnings release here.