Commercial Metals (CMC) Tops Q4 EPS by 16c: shares outlook

Commercial Metals (NYSE: CMC) reported Q4 EPS of $2.45, $0.16 better than the analyst estimate of $2.29. Revenue for the quarter came in at $1.99 billion versus the consensus estimate of $2.39 billion.

Outlook:

Ms. Smith added, \"Looking ahead, we anticipate strong financial performance in the first fiscal quarter. Robust demand in North America for each of CMC\'s major product lines is expected to persist. Finished steel volumes are expected to follow typical seasonal patterns, which have historically declined modestly from our fourth quarter levels. Market conditions in Europe are more uncertain, given the ongoing energy crisis and slowing industrial activity. However, CMC is well situated to compete due to our cost leadership position and operational flexibility. Margins over scrap in both North America and Europe are likely to compress from fourth quarter levels in order to remain competitive with raw material price changes and increased long steel supply from imports.\"

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

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