Commercial Metals Company Investor Presentation Deck
Disciplined Capital Allocation Strategy
CMC will prudently allocate capital while maintaining a strong and flexible balance sheet
CMC Capital Allocation Priorities: 1 Value-Generating Growth 2 Shareholder Distributions 3 Debt Management
2023 Sources of Cash (all figures in $ millions)
2023 Uses of Cash (all figures in $ millions)
Cash flow from earnings
Sustaining capex, including key
equipment replacement projects
• Working capital release
Growth
●
$1,195 from cash flow
from earnings¹
$149 from working
capital release
$1,344 cash flow from
operating activities
Quarterly dividend of $0.16 per share
(last increased 14% in Q4 2022)
●
Completion of Arizona 2 greenfield
project
- Initial investments in CMC Steel WV
Opportunistic M&A
Cash distributions to shareholders
Share repurchases
Cash dividends
Debt reduction via repayment of 2023
senior notes
Shareholder Cash Distribution
Programs in Place
[1] Equal to net earnings plus adjustments to reconcile net earnings to net cash flows from operating activities
[2] As of August 31, 2023
$607 for
capital expenditures
$235 for
opportunistic M&A
$176 for
shareholder distributions
$390 for long-term debt
repayment
$1,408 of capital
deployment
$350 million share repurchase
program ($87 million remaining)²
CMC: Investor Overview 12View entire presentation