Commercial Metals (CMC) Tops Q3 EPS by 5c; Sees Q4 Results Similar to Q3
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EPS Growth %: -47.9%
Financial Fact:
Net earnings (loss): -131K
Today's EPS Names:
BFRI, HCTI, IMPM, More
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Commercial Metals (NYSE: CMC) reported Q3 EPS of $0.30, $0.05 better than the analyst estimate of $0.25. Revenue for the quarter came in at $1.23 billion versus the consensus estimate of $1.15 billion.
Guidance:
The company said: "We expect the results of our fiscal fourth quarter to remain strong, consistent with the results of our fiscal third quarter. Our key market indicators continue to point toward strong demand in the U.S. construction markets. Non-residential construction spending, which is our primary end use market in the U.S., was up 5% year over year in April 2016. The Architecture Billings Index (ABI) remained above 50 for 24 of the 27 months ended May 2016, which has historically been a leading indicator of improved non-residential construction. We expect to begin realizing productivity and cost improvements in the fourth quarter of fiscal 2016 from key capital projects. Our balance sheet remains a key strength of our Company, and we expect to finish fiscal 2016 well positioned to continue the positive momentum into fiscal 2017."
For earnings history and earnings-related data on Commercial Metals (CMC) click here.
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