Commercial Metals's stock surges after profit rises above expectations, but sales comes up shy [MarketWatch]
Commercial Metals Company (CMC)
Last commercial metals company earnings: 3/19 06:45 am
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Source: MarketWatch
Commercial Metals's stock surges after profit rises above expectations, but sales comes up shy Shares of Commercial Metals Co. CMC, -0.76% rallied 5.6% toward a 19-month high in premarket trading Monday, after the maker and recycler of steel and metal products reported a fiscal first-quarter profit that beat expectations, although sales came up shy. Net income for the quarter to Nov. 30 rose to $83.3 million, or 70 cents a share, from $19.7 million, or 17 cents a share, in the year-ago period. Excluding non-recurring items, such as a $5 million charge related to the ceasing of melting operations at the Rancho Cucamonga, Calif. facility, adjusted EPS was 73 cents, above the FactSet consensus of 54 cents. Sales rose 8% to $1.38 billion, but was below the FactSet consensus of $1.42 billion, as increases in Americas mills and fabrication sales offset declines in Americas recycling and international mill sales. "We expect construction and infrastructure demand to remain resilient," said
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News
- Commercial Metals (NYSE: CMC) is now covered by analysts at Morgan Stanley. They set an "equal weight" rating and a $65.00 price target on the stock.MarketBeat
- CMC Publishes 2024 Sustainability ReportPR Newswire
- Commercial Metals (NYSE: CMC) had its "sell" rating re-affirmed by analysts at UBS Group AG. They now have a $56.00 price target on the stock, down previously from $62.00.MarketBeat
- CMC Announces First Quarter Fiscal 2025 Conference Call Webcast DetailsPR Newswire
- CMC Recognized as One of America's Most Responsible Companies by Newsweek for 2025 [Yahoo! Finance]Yahoo! Finance
CMC
Earnings
- 10/17/24 - Miss
CMC
Sec Filings
- 11/26/24 - Form ARS
- 11/26/24 - Form DEFA14A
- 11/26/24 - Form DEF
- CMC's page on the SEC website