Commercial Metals Q3 Profit Rises - Quick Facts

(RTTNews) - Steel and metal products maker Commercial Metals Co. (CMC) said its third-quarter net earnings attributable to the company was $56.7 million, or $0.49 per share, up from $23.6 million, or $0.20 per share in the comparable quarter last year. On average, 10 analysts polled by Thomson Reuters expected the company to report profit per share of $0.39 for the quarter. Analysts' estimates typically exclude special items.

Earnings from continuing operations for the latest third quarter were $67.1 million or $0.58 per share, compared with $24.5 million or $0.21 per share in the prior year.

Results for the recent period included after-tax LIFO income from continuing operations of $24.1 million, or $0.21 per share, compared with an after-tax LIFO expense from continuing operations of $5.3 million, or $0.04 per share, for the third quarter of fiscal 2014, the company said.

Quarterly net sales were $1.51 billion, down from the prior-year figure of $1.74 billion. Analysts anticipated revenue of $1.58 billion for the quarter.

On June 24, 2015, the board of directors of CMC declared a quarterly dividend of $0.12 per share for shareholders of record on July 9, 2015.  The dividend will be paid on July 23, 2015.