Commercial Metals Q2 Profit Tops Estimates - Quick Facts

(RTTNews) - Commercial Metals Company (CMC) reported second-quarter adjusted earnings from continuing operations per share of $0.53, a 82.8% increase from $0.29, prior year. On average, eight analysts polled by Thomson Reuters expected the company to report profit per share of $0.49, for the quarter. Analysts' estimates typically exclude special items.

Second quarter net sales were $1.34 billion, compared to $1.40 billion, a year ago. Analysts expected revenue of $1.36 billion for the quarter.

Barbara Smith, CEO, said: "Given economic uncertainties caused by the COVID-19 outbreak, as well as potential courses of action that local, state, and federal government bodies may take, we are unable to provide forward guidance at this time."

On March 18, 2020, the board of directors of CMC declared a quarterly dividend of $0.12 per share of CMC common stock payable to stockholders of record on April 6, 2020. The dividend will be paid on April 20, 2020.