CLSA Downgrades Commercial Metals Company (CMC) to Sell

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Go back to CLSA Downgrades Commercial Metals Company (CMC) to Sell

Commercial Metals Company Reports Second Quarter Earnings Per Share Of $0.09; Or $0.15 Adjusted Earnings Per Share(+) Excluding Costs Associated With Senior Note Tender Offers Closed February 17, 2016

March 24, 2016 6:45 AM EDT

IRVING, Texas, March 24, 2016 /PRNewswire/ -- Commercial Metals Company (NYSE: CMC) today announced financial results for its second quarter ended February 29, 2016. Net earnings attributable to CMC for the three months ended February 29, 2016 were $10.5 million ($0.09 per diluted share) on net sales of $1.0 billion. This compares to net earnings attributable to CMC of $6.2 million ($0.05 per diluted share) on net sales of $1.4 billion for the second quarter ended February 28, 2015. Results for the second quarter of fiscal 2016 included an after-tax impact of debt extinguishment costs of $7.4 million ($0.06 per diluted share) associated with the tender offers for senior notes completed... More