Page 1

News Release CMC Commercial Metals COMMERCIAL METALS COMPANY REPORTS SECOND QUARTER FISCAL 2021 RESULTS Exhibit No. 99.1 • • . Second quarter Earnings from Continuing Operations of $ 66.2 million , or $ 0.54 per diluted share Adjusted Earnings from Continuing Operations of $ 79.8 million , or $ 0.66 per diluted share Core EBITDA of $ 171.1 million , a second quarter record , up 18 % year - over - year and 9 % sequentially Continued strong controllable cost performance Achieved stable steel products metal margins despite a rapidly rising scrap cost environment Irving , TX - March 18 , 2021 - Commercial Metals Company ( NYSE : CMC ) today announced financial results for its fiscal second quarter ended February 28 , 2021. Earnings from continuing operations were $ 66.2 million , or $ 0.54 per diluted share , on net sales of $ 1.5 billion , compared to prior year earnings from continuing operations of $ 63.6 million , or $ 0.53 per diluted share , on net sales of $ 1.3 billion . During the second quarter of fiscal 2021 , the Company incurred $ 13.5 million in net after - tax charges , chiefly from the previously announced refinancing of long - term debt as well as closure costs associated with the final decommissioning of CMC's Steel California operations , partially offset by a gain on the sale of certain facilities . Excluding these items , second quarter adjusted earnings from continuing operations were $ 79.8 million , or $ 0.66 per diluted share , compared to adjusted earnings from continuing operations of $ 63.6 million , or $ 0.53 per diluted share , in the prior year period . Details can be found in the non - GAAP reconciliation that follows . Barbara R. Smith , Chairman of the Board , President and Chief Executive Officer , commented , " I am extremely proud of our team's continued hard work , which resulted in outstanding financial results highlighted by record second quarter Core EBITDA . This was achieved amidst a challenging environment of rising scrap costs and weather - related disruptions , demonstrating both the value of CMC's vertically integrated structure and the agility of our commercial , operational , and support teams . " Ms. Smith continued , " CMC's second quarter results also highlight the benefits of managing the operating factors that are within our control , including leveraging opportunities to improve efficiency throughout our organization . From this solid foundation , CMC will further enhance our earnings capability in the coming quarters , as we continue to capitalize on benefits from ongoing network optimization efforts and ramp up our third rolling line in Poland this summer . "