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Commercial Metals Q4 Profit Tops Estimates, Sales Up 18%; Shares Surge

Commercial Metals Company (CMC) reported that its fourth-quarter adjusted earnings from continuing operations increased 52 percent to $0.76. On average, nine analysts polled by Thomson Reuters expected the company to report profit per share of $0.70, for the quarter. Analysts' estimates typically exclude special items.

Net sales for the fourth quarter increased 18 percent to $1.54 billion from $1.31 billion in the prior year quarter. Analysts expected revenue of $1.57 billion for the quarter.

On October 22, 2019, the board of directors declared a quarterly dividend of $0.12 per share of CMC common stock payable to stockholders of record on November 6, 2019. The dividend will be paid on November 20, 2019.

Shares of Commercial Metals were up more than 3% in pre-market trade on Wednesday.

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