Commercial Metals (NYSE: CMC) reported Q1 operating EPS of $0.22, $0.08 worse than the analyst estimate of $0.30. Revenue for the quarter came in at $1.15 billion versus the consensus estimate of $1.36 billion.

Joe Alvarado, Chairman of the Board, President and CEO, commented, "Our results for the first quarter of fiscal 2016 were generally consistent with our outlook from last quarter. Our Americas Fabrication segment achieved a $25.5 million improvement in adjusted operating profit during the first quarter of fiscal 2016 compared to the first quarter of fiscal 2015 benefiting from lower steel input prices and solid construction demand. In addition, compared to the same quarter in the prior year, our Americas Mills segment was able to expand metal margins as finished steel prices declined at a slower rate than ferrous scrap prices. However, our remaining segments continued to be adversely impacted by steel import activity into the U.S., weakness in scrap markets and decreased global demand and pricing for all major commodities. We are very pleased with our financial strength and our strong cash flow of $219.6 million during the quarter."

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