IRVING, Texas — Commercial Metals Co. (CMC) on Thursday reported fiscal second-quarter net income of $63.8 million.
The Irving, Texas-based company said it had net income of 53 cents per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 50 cents per share.
The manufacturer and recycler of steel and metal products posted revenue of $1.34 billion in the period, missing Street forecasts. Three analysts surveyed by Zacks expected $1.39 billion.
Commercial Metals shares have decreased 48% since the beginning of the year. The stock has fallen 29% in the last 12 months.
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