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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ir.cmc.com
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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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CMC
Earnings
- 10/17/24 - Miss
CMC
Sec Filings
- 11/18/24 - Form 4
- 11/18/24 - Form 4
- 11/18/24 - Form 4
- CMC's page on the SEC website