Commercial Metals: Fiscal Q4 Earnings Snapshot

IRVING, Texas (AP) — IRVING, Texas (AP) — Commercial Metals Co. (CMC) on Thursday reported fiscal fourth-quarter net income of $212.5 million.

The Irving, Texas-based company said it had profit of $1.91 per share. Earnings, adjusted for one-time gains and costs, were $2.09 per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.97 per share.

The manufacturer and recycler of steel and metal products posted revenue of $2.66 billion in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $2.45 billion.

For the year, the company reported profit of $655.8 million, or $5.86 per share. Revenue was reported as $9.39 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CMC at https://www.zacks.com/ap/CMC