Since I know who Mo is, I have checked some newspaper obits and even Googled his name, and nothing showing up. Hope he is O.K.
Yes, I think DSS did a great job,we need more of this kind of analysis to help make investment decisions!
Today also DSS has selected $CMC as a good buying with limit price of (21.57USD)
Not much to say is there? Steel group has finally taken over permanently, recycling division will eventually go the way of Howell Metal because the old SMI group doesn't value it unless it can feed the mill. Structure, values and integrity have been diminished. Just a shame.
Howell is a producer of common water tubing, not wire. The strategy is sound. CMC is first and foremost a steel producer. Selling Howell signals Wall Street that CMC is focused on our core business.
Search for "SEC Live Filings Digest" to find out more.
Commercial Metals Company (CMC) has announced its first quarter financial results for the fiscal year 2014, reporting a 7.6% decline in earnings. The steel and metal products company saw net sales decline 3.8% to $1.68B, falling short of analyst predictions of $1.74B. Earnings this quarter were $45.9M and $0.39 per share, down from $49.7M and $0.42 per share. CEO Joe Alvarado is already projecting a slowdown for the second quarter as the holidays and seasonal weather have both reduced construction operations. The company’s largest revenue generator, international marketing and distribution, saw a 16% decline while American recycling sales fell 3.9%. Commercial Metals maintains a cash position of $515.5M in cash and cash equivalents with $1.2B in liquidity, a jump from a year-ago with $378.8M in cash and cash equivalents with $1.1B in liquidity.
Commercial Metals Company Reports First Quarter Earnings Per Share Of $0.39 And Announces Quarterly Dividend Of $0.12 Per Share
IRVING, Texas, Jan. 7, 2014 /PRNewswire/ -- Commercial Metals Company (NYSE: CMC) today announced financial results for its first quarter ended November 30, 2013. Net earnings for the first quarter were $45.9 million, or $0.39 per diluted share, on net sales of $1.7 billion. This compares to net earnings of $49.7 million, or $0.42 per diluted share, on net sales of $1.7 billion for the three months ended November 30, 2012.
Results for the first quarter of fiscal 2014 included an after-tax gain of $15.5 million ($0.13 per diluted share) associated with the sale of the Company's wholly owned copper tube manufacturing operation, Howell Metal Company ("Howell"). Results for the first quarter of fiscal 2013 included an after-tax gain of $17.0 million ($0.14 per diluted share) associated with the sale of the Company's 11% ownership investment in Trinecke Zelezarny, a.s., a Czech Republic joint-stock company. Net earnings for this year's first quarter included after-tax LIFO expense of $2.8 million ($0.02 per diluted share), compared with after-tax LIFO income of $15.2 million ($0.13 per diluted share) for the first quarter of fiscal 2013, an unfavorable change of $18.0 million ($0.15 per diluted share). Adjusted operating profit was $90.0 million for the first quarter of fiscal 2014, compared with adjusted operating profit of $90.6 million for the prior year's first quarter and $37.1 million for the sequential quarter. Adjusted EBITDA was $124.3 million for the first quarter of fiscal 2014, compared with adjusted EBITDA of $126.2 million for the prior year's first quarter and $84.5 million for the sequential quarter.
The Company's financial position at November 30, 2013 remained strong with cash and cash equivalents of $515.5 million and total liquidity of $1.2 billion, compared with cash and cash equivalents of $378.8 million and tot
Eventually we both know it will boil down to having the right people. The seasoned have mostly RIF or left …even the young talent is electing not to stay. Not good for the long term as a hold. Good for day trade only.
I think that CMC is capable of earning money regardless of management. Good Management and smart traders will maximize profits. Dumb management and salesmen will make money, because of the size of CMC and the market.
CMC is over valued. The only thing that keeps it's price up is the recent valuation of the sector by Goldman. The company continues to get rid of talent and has completely divested itself of their old leadership including the wench heading legal and the heartless leader of HR. Both killed a culture and the board is directly responsible for their original hire.
The talent that once made this company great is gone. It no longer has the same earnings potential without the experienced season vets of both Steel and Recycling. The recycling group is headed in an adverse direction at a time that global scrap markets are soft.
My post on the exit of an infamous villain has been deleted. Im sure he complained and got it removed so that his new company doesnt review this board's messages and read what a tool he was.