Commercial Metals Company (NYSE:CMC) recorded its fourth quarter earnings results on Thursday 15th October 2020 before market open.
Commercial Metals Company recorded quarterly income of $ 0.56 per share, from the revenue of $ 1,409.13 million. On adjusted basis, the firm reported income for the quarter of $ 0.79 per share.
The consensus estimate are $ 0.60 income per share from revenues of $ 1372.37 million.
The fourth quarter financial report outlined, earnings beat street analysts by $ 0.19 or 31.67 percent, where as revenues outshined analysts estimates by $ 36.76 million or 2.68 percent.
On the other hand, The quarterly earnings contracted 22.22 percent compared with the same quarter last year, at the same time revenues contracted 8.68 percent versus fourth quarter of last year.
Barbara R. Smith, Chairman of the Board, President and Chief Executive Officer, commented, Fiscal 2020 was an exceptional year for CMC, and our strong results – including enhanced earnings, increased cash flow, additional operational flexibility, and a more robust balance sheet – demonstrate the value of CMCs purposeful strategic transformation completed over the last several years and our position as a leader in concrete reinforcement.
On October 14, 2020, the board of directors declared a quarterly dividend of $0.12 per share of CMC common stock payable to stockholders of record on October 29, 2020. The dividend will be paid on November 13, 2020.
