Commercial Metals Q3 Profit Rises - Quick Facts

(RTTNews) - Commercial Metals Company (CMC) reported that its third-quarter net earnings attributable to company increased to $23.6 million, or $0.20 per share, from $19.0 million, or $0.16 per share, last year. Adjusted EBITDA was $90.0 million, compared to $89.3 million for the prior year's third quarter.

On average, 11 analysts polled by Thomson Reuters expected the company to report profit per share of $0.29 for the quarter. Analysts' estimates typically exclude special items.

Net sales were $1.80 billion, compared to $1.75 billion, a year ago. Analysts expected revenue of $1.85 billion for the quarter.

Joe Alvarado, CEO of Commercial Metals, said, "The results for the third quarter of fiscal 2014 were lifted by seasonal construction activity. We are particularly pleased with the strong results from our Americas Mills segment which recorded the best quarterly adjusted operating profit since our first quarter of fiscal 2009."

The company anticipates that its operational results for the fourth quarter of fiscal 2014 will remain consistent with the third quarter of fiscal 2014 results.

On June 25, 2014, the board of Commercial Metals declared a quarterly dividend of $0.12 per share for shareholders of record on July 10, 2014. The dividend will be paid on July 24, 2014.