CMC Increases Share Repurchase Program By $600M; Targets FY29 Core EBITDA $1.65B-1.8B And Core EBITDA Margin 15%-16%
Benzinga Newsdesk 2 months ago
BuybacksNews
FY29 Financial Targets1CMC will introduce the following fiscal 2029 mid-cycle financial targets:Core EBITDA2: $1,650 million to $1,800 millionCore EBITDA Margin3: 15.0% to 16.0%Return on Invested Capital (ROIC)4: 13.0%
FY29 Financial Targets1
CMC will introduce the following fiscal 2029 mid-cycle financial targets:
- Core EBITDA2: $1,650 million to $1,800 million
- Core EBITDA Margin3: 15.0% to 16.0%
- Return on Invested Capital (ROIC)4: 13.0% to 14.5%
- Free Cash Flow5: $1,375 million to $1,525 million
Share Repurchase Program
Reflecting its ongoing commitment to enhancing shareholder value, earlier today it was announced that CMC's Board of Directors authorized an incremental $600 million share repurchase program, bringing the total available repurchase authorization to approximately $717 million.