Commercial Metals Company Q2 Profit Decreases, but beats estimates

(RTTNews) - Commercial Metals Company (CMC) reported earnings for second quarter that decreased from last year but beat the Street estimates.

The company's earnings came in at $85.85 million, or $0.73 per share. This compares with $179.85 million, or $1.51 per share, in last year's second quarter.

Excluding items, Commercial Metals Company reported adjusted earnings of $103.05 million or $0.88 per share for the period.

Analysts on average had expected the company to earn $0.73 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 8.4% to $1.848 billion from $2.018 billion last year.

Commercial Metals Company earnings at a glance (GAAP) :

-Earnings (Q2): $85.85 Mln. vs. $179.85 Mln. last year. -EPS (Q2): $0.73 vs. $1.51 last year. -Revenue (Q2): $1.848 Bln vs. $2.018 Bln last year.