Commercial Metals Company set fiscal 2029 mid-cycle targets for EBITDA, margins, ROIC and free cash flow, while adding $600 million to its buyback program.
Commercial Metals Company used its 2026 Investor Day in New York to outline its strategic vision, growth opportunities, capital allocation framework and long-term financial goals, including new fiscal 2029 mid-cycle targets and an expanded share repurchase program. The company set FY29 targets of core EBITDA of $1.65 billion to $1.8 billion, core EBITDA margin of 15.0% to 16.0%, return on invested capital of 13.0% to 14.5%, and free cash flow of $1.375 billion to $1.525 billion. CMC also said its Board of Directors authorized an incremental $600 million share repurchase program, bringing total available repurchase authorization to about $717 million. President and Chief Executive Officer Peter Matt said the company has spent recent years transforming itself into an industry-leading provider across the early-stage construction ecosystem and expects that shift to produce structurally higher margins and stronger free cash flow generation. CMC, a Fortune 500 company based in Irving, Texas, said it serves infrastructure, non-residential, residential, industrial and energy markets through a manufacturing network concentrated in the United States and Central Europe, with strategic operations in the United Kingdom, Europe and Asia.