Commercial Metals (CMC) Reports In-Line Q1 EPS

Commercial Metals (NYSE: CMC) reported Q1 EPS of $0.35, in-line with the analyst estimate of $0.35. Revenue for the quarter came in at $1.28 billion versus the consensus estimate of $1.32 billion.

Outlook

"We remain optimistic about the demand outlook in our key markets. Our second quarter of fiscal 2019 will include normal seasonality, which will reduce shipment rates at our facilities; however we expect the quarter to be strong in comparison to historical second quarter results, due to the contribution from our strategic growth initiatives," said Ms. Smith. "We expect to see continued growth from our investment in the new Durant, OK micro mill, as well as growth from the ongoing integration of the newly acquired rebar assets. We are confident that these will position us well to serve our customers in this period of strong demand and deliver enhanced returns to our shareholders.

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

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