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Commercial Metals: Fiscal 2Q Earnings Snapshot

IRVING, Texas (AP) _ Commercial Metals Co. (CMC) on Thursday reported fiscal second-quarter profit of $13.9 million.

The Irving, Texas-based company said it had profit of 12 cents per share. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, were 29 cents per share.

The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share.

The manufacturer and recycler of steel and metal products posted revenue of $1.4 billion in the period, falling short of Street forecasts. Four analysts surveyed by Zacks expected $1.46 billion.

Commercial Metals shares have increased slightly since the beginning of the year. The stock has fallen 31 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CMC at https://www.zacks.com/ap/CMC