Commercial Metals Company (CMC) reported first quarter net earnings of $176.3 million, or $1.49 per share, compared to $261.8 million, or $2.20 per share, prior year. Excluding item, adjusted earnings were $192.7 million, or $1.63 per share, compared to $266.2 million, or $2.24 per share, previous year. On average, four analysts polled by Thomson Reuters expected the company to report profit per share of $1.45, for the quarter. Analysts' estimates typically exclude special items.
First quarter net sales were $2.0 billion, compared to $2.2 billion, last year. Analysts on average had estimated $1.89 billion in revenue.
On January 4, 2024, the board declared a quarterly dividend of $0.16 per share, payable to stockholders of record on January 18, 2024.
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