Plus   Neg

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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
PG&E agreed to pay around $13.5 billion to settle all individual claims related to California wildfires, due to which the electric utility had to file for bankruptcy. With the Bankruptcy Court's approval of the settlement agreement, PG&E hopes to emerge from Chapter 11 by the June 30, 2020 deadline to participate in the State of California's go-forward wildfire fund. Airbnb has introduced few new rules to control parties and nuisances amidst the backlash the service received after the Halloween shooting at an Airbnb rental in a San Francisco. San Francisco-based Airbnb said it is banning "open invite" parties at all of its accommodations. The company is also banning... The U.S. Food and Drug Administration has approved three generic versions of Novartis' Gilenya capsule for treating relapsing forms of multiple sclerosis. "Approving safe and effective generics so patients have more treatment options continues to be a priority for the FDA," said Janet Woodcock, director...
Follow RTT