Commercial Metals Company Q3 Profit Decreases, but beats estimates

(RTTNews) - Commercial Metals Company (CMC) released earnings for third quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $233.971 million, or $1.98 per share. This compares with $312.429 million, or $2.54 per share, in last year's third quarter.

Excluding items, Commercial Metals Company reported adjusted earnings of $239.729 million or $2.02 per share for the period.

Analysts on average had expected the company to earn $1.76 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 6.8% to $2.344 billion from $2.515 billion last year.

Commercial Metals Company earnings at a glance (GAAP) :

-Earnings (Q3): $233.971 Mln. vs. $312.429 Mln. last year. -EPS (Q3): $1.98 vs. $2.54 last year. -Analyst Estimates: $1.76 -Revenue (Q3): $2.344 Bln vs. $2.515 Bln last year.