Commercial Metals (CMC) Misses Q4 EPS by 5c, Revenues Miss

Commercial Metals (NYSE: CMC) reported Q4 EPS of $0.43, $0.05 worse than the analyst estimate of $0.48. Revenue for the quarter came in at $1.31 billion versus the consensus estimate of $1.32 billion.

Barbara R. Smith, Chairman of the Board, President and Chief Executive Officer, commented, "I am proud of what our team has accomplished during fiscal 2018. In addition to delivering our best financial results since the Great Recession, we also completed construction and commissioning of our second micro mill in Durant, OK, becoming the first producer of hot spooled rebar in the United States. We also had record levels of shipments of steel products from our operations in the U.S. and Poland and achieved our lowest safety incident rate in the history of CMC."

Outlook

"Our outlook for the coming months remains very positive as we believe the current demand for construction steel will be sustained," said Ms. Smith. "Our team delivered on many key strategic initiatives during 2018 producing record volumes during this period of strong demand and improving margins. As we look forward to the strong economic environment continuing and the opportunities on the horizon, I am confident we will continue to deliver exceptional results for our stakeholders."

For earnings history and earnings-related data on Commercial Metals (CMC) click here.

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