Commercial Metals (CMC) Tops Q1 EPS by 19c

Commercial Metals (NYSE: CMC) reported Q1 EPS of $0.73, $0.19 better than the analyst estimate of $0.54. Revenue for the quarter came in at $1.4 billion versus the consensus estimate of $1.43 billion.

Outlook:

"We expect construction and infrastructure demand to remain resilient," said Ms. Smith. "Customer sentiment and our own fabrication backlog both point to a strong outlook for activity, though our second quarter will be impacted by typical seasonality related to holidays and winter weather conditions affecting construction activity."

"We anticipate metal margin will remain above the historical cycle average, but will experience a decline from first quarter levels. We expect our progress in optimizing our expanded domestic mill network during the first quarter will yield benefits going forward. We anticipate Fabrication will remain profitable, while Recycling should see some benefit from the recent rebound in ferrous scrap prices. We expect challenges to remain for our Polish operations until the current overhang of imports to the European Union unwinds."

For earnings history and earnings-related data on Commercial Metals (CMC) click here.

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