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BUSINESS SEGMENTS (Tables) | 9 Months Ended
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May 31, 2025
Segment Reporting [Abstract] |
Summary of certain financial information from continuing operations by reportable segment | The following table summarizes certain financial information by reportable segment and Corporate and Other, as applicable:
|  | Three Months Ended May 31, |  | Nine Months Ended May 31,
(in thousands) |  | 2025 |  | 2024 |  | 2025 |  | 2024
Net sales to external customers: |  |  |  |  |  |  |  |
North America Steel Group |  | $ | 1,562,286 |  |  | $ | 1,671,358 |  |  | $ | 4,467,771 |  |  | $ | 4,750,210 |
Europe Steel Group |  | 247,590 |  |  | 208,806 |  |  | 655,026 |  |  | 626,481 |
Emerging Businesses Group |  | 197,454 |  |  | 188,593 |  |  | 525,733 |  |  | 521,826 |
Reportable segments total |  | 2,007,330 |  |  | 2,068,757 |  |  | 5,648,530 |  |  | 5,898,517 |
Corporate and Other |  | 12,654 |  |  | 9,728 |  |  | 35,432 |  |  | 31,306 |
Total |  | $ | 2,019,984 |  |  | $ | 2,078,485 |  |  | $ | 5,683,962 |  |  | $ | 5,929,823 |
Adjusted EBITDA: |  |  |  |  |  |  |  |
North America Steel Group |  | $ | 185,984 |  |  | $ | 246,304 |  |  | $ | 503,007 |  |  | $ | 735,418 |
Europe Steel Group |  | 3,593 |  |  | (4,192) |  |  | 30,184 |  |  | 26,139 |
Emerging Businesses Group |  | 40,912 |  |  | 38,220 |  |  | 87,091 |  |  | 87,011 |
Reportable segments total |  | $ | 230,489 |  |  | $ | 280,332 |  |  | $ | 620,282 |  |  | $ | 848,568 |
Reconciliations of earnings from continuing operations to adjusted operating profit | The following table presents a reconciliation of net earnings (loss) to adjusted EBITDA for the reportable segments:
|  | Three Months Ended May 31, |  | Nine Months Ended May 31,
(in thousands) |  | 2025 |  | 2024 |  | 2025 |  | 2024
Net earnings (loss) |  | $ | 83,126 |  |  | $ | 119,440 |  |  | $ | (67,119) |  |  | $ | 381,560 |
Interest expense |  | 10,864 |  |  | 12,117 |  |  | 33,353 |  |  | 35,751 |
Income tax expense (benefit) |  | 26,386 |  |  | 40,867 |  |  | (18,569) |  |  | 120,361 |
Depreciation and amortization |  | 72,376 |  |  | 70,692 |  |  | 213,397 |  |  | 208,177 |
Asset impairments |  | 785 |  |  | 146 |  |  | 1,171 |  |  | 150 |
Corporate and Other expenses |  | 36,952 |  |  | 37,070 |  |  | 458,049 |  |  | 102,569 |
Adjusted EBITDA reportable segments |  | $ | 230,489 |  |  | $ | 280,332 |  |  | $ | 620,282 |  |  | $ | 848,568 |
Net sales by major product | The following tables display net sales to external customers by reportable segment and Corporate and Other, disaggregated by major product:
|  | Three Months Ended May 31, 2025
(in thousands) |  | North America Steel Group |  | Europe Steel Group |  | Emerging Businesses Group |  | Corporate and Other |  | Total
Major product: |  |  |  |  |  |  |  |  |  |
Raw materials |  | $ | 331,123 |  |  | $ | 6,501 |  |  | $ | — |  |  | $ | — |  |  | $ | 337,624 |
Steel products |  | 666,298 |  |  | 198,228 |  |  | — |  |  | — |  |  | 864,526 |
Downstream products |  | 506,639 |  |  | 33,639 |  |  | 46,002 |  |  | — |  |  | 586,280 |
Construction products |  | — |  |  | — |  |  | 78,219 |  |  | — |  |  | 78,219 |
Ground stabilization solutions |  | — |  |  | — |  |  | 68,560 |  |  | — |  |  | 68,560 |
Other |  | 58,226 |  |  | 9,222 |  |  | 4,673 |  |  | 12,654 |  |  | 84,775 |
Net sales to external customers |  | 1,562,286 |  |  | 247,590 |  |  | 197,454 |  |  | 12,654 |  |  | 2,019,984 |
Intersegment net sales, eliminated in consolidation |  | 17,317 |  |  | 730 |  |  | 17,564 |  |  | (35,611) |  |  | — |
Net sales |  | $ | 1,579,603 |  |  | $ | 248,320 |  |  | $ | 215,018 |  |  | $ | (22,957) |  |  | $ | 2,019,984 |
|  | Nine Months Ended May 31, 2025
(in thousands) |  | North America Steel Group |  | Europe Steel Group |  | Emerging Businesses Group |  | Corporate and Other |  | Total
Major product: |  |  |  |  |  |  |  |  |  |
Raw materials |  | $ | 959,083 |  |  | $ | 16,927 |  |  | $ | — |  |  | $ | — |  |  | $ | 976,010 |
Steel products |  | 1,884,312 |  |  | 519,709 |  |  | — |  |  | — |  |  | 2,404,021 |
Downstream products |  | 1,462,696 |  |  | 92,551 |  |  | 119,559 |  |  | — |  |  | 1,674,806 |
Construction products |  | — |  |  | — |  |  | 219,931 |  |  | — |  |  | 219,931 |
Ground stabilization solutions |  | — |  |  | — |  |  | 173,266 |  |  | — |  |  | 173,266 |
Other |  | 161,680 |  |  | 25,839 |  |  | 12,977 |  |  | 35,432 |  |  | 235,928 |
Net sales to external customers |  | 4,467,771 |  |  | 655,026 |  |  | 525,733 |  |  | 35,432 |  |  | 5,683,962 |
Intersegment net sales, eliminated in consolidation |  | 49,927 |  |  | 1,966 |  |  | 42,610 |  |  | (94,503) |  |  | — |
Net sales |  | $ | 4,517,698 |  |  | $ | 656,992 |  |  | $ | 568,343 |  |  | $ | (59,071) |  |  | $ | 5,683,962 |
|  | Three Months Ended May 31, 2024
(in thousands) |  | North America Steel Group |  | Europe Steel Group |  | Emerging Businesses Group |  | Corporate and Other |  | Total
Major product: |  |  |  |  |  |  |  |  |  |
Raw materials |  | $ | 396,954 |  |  | $ | 4,721 |  |  | $ | — |  |  | $ | — |  |  | $ | 401,675 |
Steel products |  | 648,618 |  |  | 167,705 |  |  | — |  |  | — |  |  | 816,323 |
Downstream products |  | 594,329 |  |  | 29,599 |  |  | 41,904 |  |  | — |  |  | 665,832 |
Construction products |  | — |  |  | — |  |  | 73,117 |  |  | — |  |  | 73,117 |
Ground stabilization solutions |  | — |  |  | — |  |  | 69,451 |  |  | — |  |  | 69,451 |
Other |  | 31,457 |  |  | 6,781 |  |  | 4,121 |  |  | 9,728 |  |  | 52,087 |
Net sales to external customers |  | 1,671,358 |  |  | 208,806 |  |  | 188,593 |  |  | 9,728 |  |  | 2,078,485 |
Intersegment net sales, eliminated in consolidation |  | 19,495 |  |  | 737 |  |  | 8,041 |  |  | (28,273) |  |  | — |
Net sales |  | $ | 1,690,853 |  |  | $ | 209,543 |  |  | $ | 196,634 |  |  | $ | (18,545) |  |  | $ | 2,078,485 |
|  | Nine Months Ended May 31, 2024
(in thousands) |  | North America Steel Group |  | Europe Steel Group |  | Emerging Businesses Group |  | Corporate and Other |  | Total
Major product: |  |  |  |  |  |  |  |  |  |
Raw materials |  | $ | 1,035,615 |  |  | $ | 12,572 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,048,187 |
Steel products |  | 1,918,686 |  |  | 501,417 |  |  | — |  |  | — |  |  | 2,420,103 |
Downstream products |  | 1,684,584 |  |  | 91,744 |  |  | 119,957 |  |  | — |  |  | 1,896,285 |
Construction products |  | — |  |  | — |  |  | 216,343 |  |  | — |  |  | 216,343 |
Ground stabilization solutions |  | — |  |  | — |  |  | 171,909 |  |  | — |  |  | 171,909 |
Other |  | 111,325 |  |  | 20,748 |  |  | 13,617 |  |  | 31,306 |  |  | 176,996 |
Net sales to external customers |  | 4,750,210 |  |  | 626,481 |  |  | 521,826 |  |  | 31,306 |  |  | 5,929,823 |
Intersegment net sales, eliminated in consolidation |  | 58,036 |  |  | 2,371 |  |  | 20,281 |  |  | (80,688) |  |  | — |
Net sales |  | $ | 4,808,246 |  |  | $ | 628,852 |  |  | $ | 542,107 |  |  | $ | (49,382) |  |  | $ | 5,929,823 |

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- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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- Definition Tabular disclosure of entity-wide revenues from external customers for each product or service or each group of similar products or services if the information is not provided as part of the reportable operating segment information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-40 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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