Commercial Metals Q1 Profit Declines - Quick Facts

(RTTNews) - Steel and metal products maker Commercial Metals Co. (CMC) said its first-quarter net earnings attributable to the company was $36.3 million, or $0.30 per share, down from $45.9 million, or $0.39 per share, last year. On average, 10 analysts polled by Thomson Reuters expected the company to report profit per share of $0.28 for the quarter. Analysts' estimates typically exclude special items.

Earnings from continuing operations for the latest first quarter were $38.3 million or $0.32 per share, compared with $33.7 million or $0.29 per share in the comparable quarter last year.

Results for the recent period included after-tax LIFO income from continuing operations of $4.0 million, or $0.03 per share, compared with an after-tax LIFO expense from continuing operations of $2.8 million, or $0.02 per share, for the first quarter of fiscal 2014, the company said.

Quarterly net sales of $1.7 billion, were higher than the prior-year figure of $1.6 billion. Analysts anticipated revenue of $1.77 billion for the quarter.

On January 5, 2015, the board of directors of CMC declared a quarterly dividend of $0.12 per share for shareholders of record on January 20, 2015.  The dividend will be paid on February 3, 2015.