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CMC Commercial Metals News Release Exhibit No. 99.1 COMMERCIAL METALS COMPANY REPORTS FIRST QUARTER FISCAL 2021 RESULTS ⚫ First quarter Earnings from Continuing Operations of $ 63.9 million , or $ 0.53 per share Adjusted Earnings from Continuing Operations of $ 69.8 million , or $ 0.58 per share ⚫ Core EBITDA of $ 156.6 million ; achieved lowest mill conversion cost per ton in last two years ⚫ Shipment volumes of finished steel products across North America and Europe increased 4 % from prior year despite ongoing pandemic Continued progress on strategic growth initiatives ; North America shipments of merchant and other products increased 12 % year - over - year Irving , TX - January 11 , 2021 - Commercial Metals Company ( NYSE : CMC ) today announced financial results for its fiscal first quarter ended November 30 , 2020. First quarter earnings from continuing operations were $ 63.9 million , or $ 0.53 per diluted share , on net sales of $ 1.4 billion , compared to prior year period earnings from continuing operations of $ 82.8 million , or $ 0.69 per diluted share , on net sales of $ 1.4 billion . During the first quarter of fiscal 2021 , CMC incurred net after - tax charges of $ 5.9 million for facility closure expenses and asset impairments primarily related to the decommissioning of the Company's Steel California operations . The closure of these operations furthers CMC's ongoing network optimization efforts , and is expected to provide cost benefits in future periods . Excluding these expenses , adjusted earnings from continuing operations for the three months ended November 30 , 2020 were $ 69.8 million , or $ 0.58 per diluted share , as detailed in the non - GAAP reconciliation that follows , compared to adjusted earnings from continuing operations of $ 0.73 per diluted share for the three months ended November 30 , 2019 . Barbara R. Smith , Chairman of the Board , President and Chief Executive Officer , commented , " CMC delivered another quarter of solid performance , marking the seventh consecutive quarter of Core EBITDA near or above the $ 150 million mark . Our team achieved these strong results while navigating the unique challenges presented by the COVID - 19 pandemic , and also continuing to execute CMC's key strategic growth initiatives , which are already yielding significant benefits . " Ms. Smith continued , " While we faced margin headwinds from rising raw material costs during the first quarter , we were able to offset much of the impact through operational execution that brought our controllable cost levels to multi - year lows . This performance is a testament to CMC's drive to tightly manage factors within