Commercial Metals Earnings: Here’s Why Investors are Bidding Up Shares
Commercial Metals Company (NYSE:CMC) delivered a profit yet missed Wall Street’s expectations. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 3.67%.
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Commercial Metals Company Earnings Cheat Sheet
Results: Excluding a one-time gain related to the sell of its 11% interest in a Czech Republic joint venture, Commercial Metals earned just 13 cents a share.
Revenue: Decreased 8.01% to $1.8 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Commercial Metals Company reported adjusted net income of 13 cents per share. By that measure, the company missed the mean analyst estimate of $0.17. It missed the average revenue estimate of $1.89 billion.