Commercial Metals Company Reports Third Quarter Fiscal 2020 Results
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June 18, 2020 1:31 PM EDT
BMO Capital analyst Matt Cartoceti raised the price target on Commercial Metals Company (NYSE: CMC) to $22.00 (from $15.00) while maintaining a Market Perform rating following solid results.
The analyst commented, "CMC delivered solid results despite the challenging environment, with near-term resiliency likely to continue,... More
June 18, 2020 6:48 AM EDT
Commercial Metals (NYSE: CMC) reported Q3 EPS of $0.59, $0.18 better than the analyst estimate of $0.41. Revenue for the quarter came in at $1.34 billion versus the consensus estimate of $1.38 billion.
GAAP earnings per diluted share from continuing operations of $0.53 were unchanged sequentially, while adjusted earnings per diluted share from continuing operations of $0.59 increased 11%Gross margin increased 3% sequentially to $225.3 millionAmericas Mills metal margin rose $17 per ton sequentially; segment achieved best conversion cost in two years. Americas Fabrication generated highest quarterly adjusted EBITDA in nearly 12...
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