AP NEWS

Commercial Metals: Fiscal 4Q Earnings Snapshot

October 23, 2019 GMT

IRVING, Texas (AP) _ Commercial Metals Co. (CMC) on Wednesday reported fiscal fourth-quarter profit of $86.1 million.

The Irving, Texas-based company said it had profit of 72 cents per share. Earnings, adjusted for one-time gains and costs, came to 76 cents per share.

The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 70 cents per share.

The manufacturer and recycler of steel and metal products posted revenue of $1.54 billion in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $1.57 billion.

Commercial Metals shares have climbed 18% since the beginning of the year. The stock has increased 4% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CMC at https://www.zacks.com/ap/CMC