Commercial Metals Company Results Presentation Deck
Attractive Market Environment in North America
Near-Term Market Outlook - Key Construction Indicators¹
Internal Indicators
External Indicators
Dodge
Momentum Index
11% y/y
Highway and
Street Spending4
21% y/y
CMC New Project
Bid Volumes
↑ 29% y/y
CMC
Downstream
Backlog Value
4% y/y
Dodge Momentum Index continues to expand on a year-over-year basis, pointing
toward future growth in private non-residential construction
Construction spending for highways and streets has increased by double-digit
percentages on a y/y basis since August 2022
CMC's internal demand measures echo key external indicators. The flow of new
work into the project pipeline remains robust, with a solid blend of private and
public work
Backlog repricing over the last several quarters has led to historically high value
in backlog
U.S. Rebar Consumption Trending Up² (trailing 12-month basis)
10.0
9.5
9.0
8.5
8.0
7.5
7.0
6.5
Rebar Consumption (million tons)
Seasonally Adjusted Annual Rate
1,750
1,500
1,250
D-13
Structural Adjustments have increased rebar consumption to 6% to 10% above pre-
pandemic levels, with more potential upside ahead from infrastructure investment and
the construction of major re-shoring projects
New Housing Starts Have Stabilized³ (single-family and multi-family units)
2,000
Housing starts have stabilized since
mid-2022 at levels 10% to 15% above
the average pre-pandemic rate.
1,000
750
Recovery
J-16
J-16
N-16
[1] Data as of the following dates: Dodge Momentum Index, May 2023; Highway and Street spending, April 2023; CMC indicators for Q3 FY 2023
[2] Data from Steel Manufacturers' Association
[3] Data from U.S. Census Bureau's New Residential Construction Report
[4] Data from U.S. Census Bureau's Construction Spending Report
2016-2019 average
A-17
S-17
F-18
Stability
J-18
D-18
M-19
0-19
M-20
A-20
Pandemic
average
J-21
Structural
Adjustment
N-21
J-21
Last 11
months
A-22
A-23
S-22
F-23
Q3 FY23 Supplemental Slides | June 22, 2023
7View entire presentation