Commercial Metals Co reports results for the quarter ended in May - Earnings Summary

Commercial Metals

20/06/2024 14:51

* Commercial Metals Co  CMC.N  reported quarterly adjusted
earnings of $1.02​​ per share for the quarter ended in May,
lower than the same quarter last year, when the company reported
EPS of $2.02.  The mean expectation of seven analysts for the
quarter was for earnings of $1.02 per share. Wall Street
expected results to range from 96 cents to $1.14 per share.
    * Revenue fell 11.4% to $2.08 billion from a year ago;
analysts
expected $2.02 billion. 
    * Commercial Metals Co's reported EPS for the quarter was
$1.02​.
    * The company reported quarterly net income of $119.44
million.
    * Commercial Metals Co shares had fallen by 13.7% this
quarter and
gained 1.4% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 17.2%
in the last three months.​ 
    * In the last 30 days, five analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 4 "strong buy" or "buy," 4
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the iron & steel
peer
group is also "buy"

Wall Street's median 12-month price target for Commercial Metals
Co is $62.50 
This summary was machine generated from LSEG data June 20 at
01:51 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 May. 31 2024      1.02           1.02           Met
 Feb. 29 2024      0.75           0.88           Beat
 Nov. 30 2023      1.45           1.63           Beat
 Aug. 31 2023      1.79           1.69           Missed