Commercial Metals Turns To Profit In Q4

(RTTNews) - Commercial Metals Co. (CMC) reported that its earnings from continuing operations for the fourth-quarter ended August 31, 2018 were $51.3 million or $0.43 per share, compared to a net loss from continuing operations of $10.1 million or $0.09 per share in the three months ended August 31, 2017.

Net sales were $1.3 billion compared to $1.1 billion last year.

Fourth quarter results include after-tax expenses of $8.6 million related to the announced acquisition of certain rebar assets from Gerdau S.A. Excluding these expenses, adjusted earnings from continuing operations were $59.9 million, or $0.51 per diluted share, as detailed in the non-GAAP reconciliation on page 12, compared to adjusted earnings from continuing operations of $6.8 million, or $0.06 per diluted share, for the three months ended August 31, 2017.