Commercial Metals Q3 Profit Tops Estimates - Quick Facts

(RTTNews) - Commercial Metals Company (CMC) reported third quarter adjusted earnings per share from continuing operations $0.59 compared to $0.67, prior year. On average, seven analysts polled by Thomson Reuters expected the company to report profit per share of $0.41, for the quarter. Analysts' estimates typically exclude special items.

Third quarter net sales were $1.3 billion, compared $1.6 billion, previous year. Analysts expected revenue of $1.3 billion for the quarter.

The company's liquidity position as of May 31, 2020 strengthened further, with cash and cash equivalents of $462.1 million and availability under the credit and accounts receivable facilities of $604.2 million.

On June 16, 2020, the board of CMC declared a quarterly dividend of $0.12 per share of CMC common stock payable to stockholders of record on July 6, 2020. The dividend will be paid on July 20, 2020,