discussion of performance, you. XXXX the Conference Quarter Lawrence. to results market and morning, commentary President will conditions by on then CMC's during XXXX Year this I fourth I Earnings I Good Paul year. the Call. overview joined Financial Vice our start and everyone, will today Fourth accomplishments Thank morning's Officer, with Chief Senior welcome am and cover CMC's and strategic provide update CMC's an Fiscal and fiscal efforts. planning an quarter current on share our
XXXX in and fiscal will will Paul first cover information fourth for conclude the financial quarter quarter's and of I more detail our beyond. outlook the with
open will the to We call questions. then
information found that additional record very and solid provided CMC's results in reminder, a safety. progress the accomplishments which slides year, number best financial most in year As the across one regarding on can performance, call, in safety company's improvement this I that XXX-year our employee many be XXXX website.
Fiscal strategic of was is a Relations third proud meaningful this the CMC, Investor history quarter our our included continuous another of fronts. for accompany supplemental am Of
condition our the they keeping everyone and with people in Our leaves starts success as safe their in a shift same company ensuring arrived. which
be of It X very driving we direct safety the addressing every identifying methodical does before, incident of. history events. ever and through to front CMC luck. call not reduction approach in that absolute lowest than rate success I That proud XXXX of through out team In risk areas areas fiscal employee. a a would fiscal the the on with recordable CMC like in that and to closer of engagement happens should level OSHA XXXX, happen came achieving of performance by goal the in and to number meaningful of
second, And number manufacturer, CMC the drove and any are involving fingers. we substantial for in new challenges significant hires. included. reduction reduction in incidents types a First, perennial These a incidents of we of saw hands incidents involving
through We have areas improved these the deployment rethinking new of focused in training, job and technologies. protocols
in within safety overall our performance recently dramatic Third, Group. we facilities Businesses acquired at Emerging saw a improvement
eager our adopters of industry-leading of been organization, practices, zero X never across has a done, rate and will incidents. XXXX. incident the pushing EBG culture which achieving safety we in have the can among point They CMC's and is to work the ultimate safety strong our goal segments continue in operating toward lowest trend we resulted Though
Turning the how the levels, industry margin the impressive Without billion historical year. lose sight remained fiscal likewise the to pre-pandemic Even billion was. just results in fiscal over thoughtful we took strategic levels, it's the any declining proper year decisive $X fiscal These core down Core of our in of above continued several our which last was us grow and XXXX. XXXX historically financial was among years, XX% results. achieved for of peak context, company, the The XXXX easy EBITDA set to XX% us of on from EBITDA our from have $X.X clearly after demonstrate core XXXX and last go EBITDA notable remake financial enabled success. above well actions best impact CMC's fiscal strong. history. significantly remained to path
in levels as into million strong ongoing competitive supports profitability shareholders. operating of activities our cash providing initiatives which commitment growth flow of our $XXX in cash distributions fiscal translated solid to to as Our future investment CMC's XXXX from well
fiscal year, XXXX. to also X% to of representing a from the the we the fiscal of compared Buybacks returned of shares equity fiscal beginning $XXX.X investors to million acceleration in form share During meaningful making the outstanding the at equal of dividends, in were repurchases XX% and year, increase XXXX XXXX. our fiscal an
on along in XXXX, projects. our advancements solid made progress CMC mill several fronts growth fiscal including meaningful strategic
towards We the world bar Arizona both breakeven micro merchant move in first the producing capable continue X, and mill to at of rebar products.
operational technology through pushed today, a team online, a we and string the quarter. on to they learnings has we given with expect year our come our a solid of and first positioned unique months. XXXX growing technology, ended fiscal production kind basis breakthrough challenges of any the with bringing Based breakeven its the that with achieve monthly last As over on during are and where first
Virginia our XXX,XXX construction increasing XXXX. feel We about and operating run good in progress believe we our levels rate exit Meanwhile, near continue milestones annualized Steel in or of target to we several fiscal at reached of will production XXXX at West site key tons.
work, commissioning buildings. in process installed, late we calendar and begin have and for infrastructure large supporting process poured for on portions track to is XXXX. the now completed We Equipment and being civil of equipment installed foundations remain
In that fiscal CMC's developing next will also phase the made XXXX, progress we growth. significant strategic of plan deliver
we segments year traditional chains, began vertical intended with Emerging may recall, an for capturing third creating American to underpenetrated that Steel The execution operating businesses. steel elevate and included a is CMC's you these realignment value to stand-alone the organizational growth our Europe As action efforts, X transparency. facilitate and and Steel the Businesses support segment North This groups, Group.
year resource of through a value its into the allocation business. aim our by and supporting value-focused decision-making of Nearly line achieving visibility key enhanced drivers on, is realignment
seeks profile attractive adjacent that growth drive in Looking ambitious projects permanent we leveraging plan margin growth and both ahead, markets. improvement by developed in enhance organic trajectory to CMC's an have our accretive and inorganic
we for drive these are expect -- about very strategic value significant expect and that efforts, We we will shareholders. excited
Grow A substantive TAG named later a some I little our insights plan or more Transform, we to commercial call, and and plan we margins on on our enhance the update for forward ahead. strategic and provide will Advance operational in quarters have into providing high-level CMC this program, across and look short, excellence to
can XXXX kept our before. proud of. CMC people that year a member In summary, of safer than fiscal We the was every be team ever
to with cash continued rewarded financial and results We we our strong generate returns. increased shareholders
and build the to We through the foundation long-term also for to investments continued planning is strategic future expected creation. for lay value that significant organic
earnings the share, now CMC this Turning historic results. diluted to it to reported period above in EBITDA of margin and was morning, EBITDA, another per We financial quarter core good press well our generate performance. core continued fourth averages. release
EBITDA sustainably XX.X% and of on earnings $X fourth CMC we invested the have we previous noted normalizing share and the We believe million of diluted before of on quarter levels of margin billion. on trailing $X.XX $XXX.X net capital to pandemic. earnings return sales at quarter higher the are or As $XXX.X EBITDA consolidated reported XX-month for calls, for generated margins per a a core producing XX%. of million, compared
North our ongoing overall levels Steel hampered resilient weaker that negatively construction in America by volumes While and margins long steel market of on solid pricing were were influenced Group shipping activity. results sentiment
maintain margin from an countries. our performance adjusted increased the Our trend challenging and of despite incursions Europe management cost near Steel market Excellent to neighboring to continued is this basis. a at allowing imports by EBITDA Polish breakeven us on Group financial into environment level
group businesses strong a emerging quarter both margin its and sequential during adjusted CMC's generated improved the basis. and year-over-year on a EBITDA results
a supported products products America, year-over-year days, volumes continue CMC's some basis. catch-up Stable CMC's the quarter. shipping backlogs shipments the earlier across a both quarter weather our levels healthy generally consume to for steel. steel ongoing of Turning for and Activity benefit remained appearing now to finished challenging projects adjusted the in a markets available our that solid sequential of footprint. areas to during North shipment unchanged, from With When in geographical in wake modestly on in year. demand construction of were good were been volumes by essentially have
uncertainty markets institutions. rate the of notable hesitancy owners pace work given are as hesitant construction presidential infrastructure such U.S. outcome the well most However, with across and as interest regarding widespread the of This the act. to as path decision-makers the key of elevated exception funded of segments and is election, and publicly the reductions, project
and Uncertainty as sentiment and confidence market steel has have also on the near-term weighed pricing overall margins softened.
months we saw XXXX. of -- in consolidated reduced mid-quarter, third the margins metal Following quarter to in quarter compared impressive of during fourth was which driver profitability the the X lower fiscal shift primary of stability,
allowing market these to has downstream of solid clarity bidding return. will nature pipeline activity future in believe projects. are CMC's conditions underlying to We fundamentals resilient, once a and remained which greater transient subside emerges, points strong potential
preparation projects Our high, project and entering will construction internal from value construction all-time Momentum of an customer sizable pipeline insights occur in the Index hit data points monthly building that rebound a Dodge conditions the are owners supported a the appears construction data once measures phase. and The to conversations. as Index, DMI, the or that index Momentum Having have external planning recently confidence is such act in improve. Dodge to activity by indicate
improvement anticipate policy. into visibility As and a previously, rates interest lower a will we future towards catalyst of path be mentioned government clear
including construction market, early As investment, structural trends buildout infrastructure and construction the and powerful also we have shortages. as in transition address past, manufacturing, the discussed at well benefit transmission stages activity trends are housing will come. believe length as propel to measures in We reshoring years of their for to will chronic U.S. these energy
XX% a up have while players. residential Steel and are by supply than growing reduction Conditions matched an demand offset Europe prior influx for quarter. neighboring Benefits flows discipline Group the has have year-to-date a domestic rebar steel among on from increased similar of supply supply improving environment market from material our countries, by and foreign producers Germany namely to the been from macroeconomic construction from of XXX%. long were Total basis, incremental more Polish calendar from excess the This domestic Germany. imports
during margins team an evidenced achieve near management result, these through million has the challenging the significant, measures pressure. able $XX.X volumes The adjusted cost margin. remain aggressive as to in been As management. fourth help despite and cost results XX% Against by EBITDA a of Poland improvement no breakeven our year-over-year quarter metal under backdrop, in has been reduction in impact from this
the landscape, change earnings anticipate Based CMC's the we Europe until positive meaningful or an either environment Steel of not recovery develops on in overall our Germany. would current in Group view market economic
drive to over the which next path discuss the meaningful CMC phase I on, like is of intended turn accretive growth. to strategic to embarking value is Paul, that things would I Before
XX our presentation, this supplemental on the threefold. is of with Slide strategy outlined As aim
and sustainably First, less commercial operational our to volatile that margins higher, the excellence through cycle are initiatives. achieve fortified by
ever growth growth manner execute growth of our and meaningful goal and customer initiative. accountability -- to reach meaningfully construction enterprise-wide early-stage commercial proposition merchant and at improve that well -- This disciplined launched support of structures CMC's as on attractive products, portfolio built program excellence any to the or profile opportunities pursue third, visibility of in and breadth in a the growth its is CMC's Second, improvement broaden margin through its as and inorganic is being unlike and our its organic Transform, the it. and extend value depth commercial in pursued other to Advance TAG opportunities; to CMC Grow our permanent operational due runway.
of Every has the over include been in has the enterprise. now The businesses, program Their has the search for we regional where central and business reached team Those has into that across business on basis. well. within opportunities. initiatives. every greatest line function a and This the value-generating critical opportunities entire managers. to our as the plant happens opportunities and involvement support equipped deep involved action CMC's meant finding identifying best value support are XXX quantifying as work daily and even members, been department organization who businesses in a between or different TAG between participation identify
and And level. drive capital a at to value to come earnings is amount execution efficiency. in of a intended success reporting we perspective, the program, margin value across initiatives or TAG we driving will execution created and in is waves local sustained the TAG enhancement, that just has working buy-in of it of visibility the and level. and owners rollout the opportunities. investor team identification, reduced initiative anticipate capital to that the level invested maximize the all and importantly, elevated their as tracking formed have with more support help identified at partnership businesses an generated.
From prioritize ensure growth, a needs as rigor greater will strategic This CMC's To stage also group of manage business dedicated
after to However, of the just as is on a all become A execute runs improvement, we as in collaboration beneficial are the a approach the achieve goals form increased to habits that will pay as long traits meeting in TAG's CMC financial TAG our creation will and engine methodical value-generating of drive that we continue ingrained its program. to at course. believe targets continuous the tracking for dividends culture
to Looking as benefits yielding efforts results first begin start We against benefits to meaningful more plan near active for wave term, those initiatives we financial you TAG we of the fiscal now XXXX. expect achieve quantifying in underway.
now, share additional beyond extends at pursuing to CMC markets. solutions bolstering further steel share Organic a to our number regarding would I organic We is But One such few and in like line you Blackwell comments. of in of plan will the projects to more our portfolio have with and both enabling proprietary aimed is growth smaller propel to production drive future through Oklahoma our investments. an a inorganic us major growing avenues. growth penetration for Geogrid into our investment facility.
key higher-margin CMC will as to logistics for better supply growing offering reduce as well Geogrid The allow the latest to our the costs several new demand American line geographies. North
clear a operational developed front, have commercial growth and we a CMC's capabilities. participation the to customer positioning which right game meaningful in have we plan adjacencies believe we given attractive market current knowledge, into inorganic On for play,
segments more the projects already billion and we construction targeting are touch feature margins. serving are types early-stage stable the $XXX of that higher, We market of
These are adjacencies also construction the to that the trends should and activity investment, labor. expected years of from reshoring infrastructure to general mega come, benefit scarcity which for include drive
excited more forward. strong and I tell, our you pleased very can even about in XXXX performance path strategic with As am our
discussion more With detail our will over now results. Paul? to provide that, financial on the I turn Paul to