Commercial Metals Q1 Profit Tops Estimates; Net Sales Up 8% - Quick Facts

(RTTNews) - Commercial Metals Company (CMC) reported first-quarter adjusted earnings from continuing operations of $0.73 per share, a 109 percent increase from $0.35, previous year. On average, 11 analysts polled by Thomson Reuters expected the company to report profit per share of $0.54 for the quarter. Analysts' estimates typically exclude special items.

First-quarter net sales improved 8 percent on a year-over-year basis to $1.39 billion driven by the company's growth strategy and strong fundamentals in its core markets. Analysts expected revenue of $1.43 billion for the quarter.

Barbara Smith, CEO, said, "The first quarter marked the best financial performance from our strategically repositioned portfolio of operations. This milestone reflects the continued health of the U.S. non-residential construction sector, which contributed to strong performances in our Americas Mills and Fabrication segments."