Commercial Metals Company Bottom Line Drops 72% In Q1

(RTTNews) - Commercial Metals Company (CMC) revealed earnings for first quarter that declined compared to the same period last year.

The company said its earnings fell to $7.17 million, or $0.06 per share. This was lower than $25.63 million, or $0.22 per share, in last year's first quarter.

Analysts had expected the company to earn $0.16 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 6.1% to $1.08 billion. This was down from $1.15 billion last year.

Commercial Metals Company earnings at a glance:

-Earnings (Q1): $7.17 Mln. vs. $25.63 Mln. last year. -Earnings Decline (Y-o-Y): -72.0% -EPS (Q1): $0.06 vs. $0.22 last year. -EPS Decline (Y-o-Y): -72.7% -Analysts Estimate: $0.16 -Revenue (Q1): $1.08 Bln vs. $1.15 Bln last year. -Revenue Change (Y-o-Y): -6.1%