Commercial Metals Q1 Profit Tops Estimates

(RTTNews) - Commercial Metals Company (CMC) reported first quarter adjusted earnings from continuing operations of $199.2 million, or $1.62 per share, compared to adjusted earnings from continuing operations of $69.8 million, or $0.58 per share, a year ago. On average, seven analysts polled by Thomson Reuters expected the company to report profit per share of $1.22, for the quarter. Analysts' estimates typically exclude special items.

Earnings from continuing operations were $232.9 million, or $1.90 per share, compared to $63.9 million, or $0.53 per share, last year.

Net sales increased to $2.0 billion, from $1.4 billion, previous year. Analysts on average had estimated $2.06 billion in revenue.