IRVING, Texas — Commercial Metals Co. (CMC) on Monday reported fiscal first-quarter profit of $64.1 million.
On a per-share basis, the Irving, Texas-based company said it had net income of 53 cents. Earnings, adjusted for one-time gains and costs, came to 58 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 57 cents per share.
The manufacturer and recycler of steel and metal products posted revenue of $1.39 billion in the period.
Commercial Metals shares have climbed almost 10% since the beginning of the year. The stock has fallen 1% 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