Commercial Metals Company (CMC) has reported its fourth-quarter earnings, showing a decline compared to the same quarter last year but surpassing analysts' expectations.
The company posted earnings of $103.93 million, equivalent to $0.90 per share, down from $184.17 million, or $1.56 per share, in the fourth quarter of the previous year. When excluding specific items, CMC's adjusted earnings were $103.78 million, or $0.90 per share.
Analysts, as surveyed by Thomson Reuters, had anticipated earnings of $0.89 per share, typically excluding special items in their forecasts.
For the quarter, CMC's revenue saw a 9.6% decline, falling to $1.996 billion from $2.209 billion in the previous year.
A summary of CMC’s earnings for the fourth quarter under generally accepted accounting principles (GAAP) is as follows:
- Earnings: $103.93 million, compared to $184.17 million last year.
- Earnings per share (EPS): $0.90, compared to $1.56 last year.
- Revenue: $1.996 billion, compared to $2.209 billion last year.
