Commercial Metals Company (CMC) Tops Q4 EPS by 4c

Commercial Metals Company (NYSE: CMC) reported Q4 EPS of $0.29, $0.04 better than the analyst estimate of $0.25. Revenue for the quarter came in at $1.9 million versus the consensus estimate of $1.82 million.

Joe Alvarado, Chairman of the Board, President, and CEO, commented, "We are pleased with the results of our fourth quarter of fiscal 2014. For the full year fiscal 2014, adjusted operating profit increased 18% over the prior period with modest topline growth of around 2%. During fiscal 2014, the U.S. economy showed positive signs of steady economic recovery. Non-residential construction spending was up 6% over the prior year, and the unemployment rate dropped 1% to an average of 6.6% for the twelve months ended August 31, 2014. Additionally, we continued to focus on improving and evaluating underperforming operations for their long-term viability. As a result of our on-going evaluations, in September 2014 we decided to exit our steel distribution business in Australia."

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

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