Commercial Metals Company Announces Unaudited Consolidated Financial Results for the First Quarter Ended November 30, 2017; Reports Asset Impairment for the First Quarter Ended November 30, 2017
January 03, 2018 at 09:45 am
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Commercial Metals Company announced unaudited consolidated financial results for the first quarter ended November 30, 2017. For the quarter, the company reported net sales of $1,238,519,000 compared to $994,091,000 a year ago. Earnings from continuing operations before income taxes were $50,314,000 compared to $7,036,000 a year ago. Earnings from continuing operations were $38,536,000 compared to $4,936,000 a year ago. Net earnings were $36,810,000 compared to $6,275,000 a year ago. Basic and diluted loss per share was $0.32 compared to earnings per basic and diluted share of $0.05 a year ago. Basic and diluted loss per share from continuing operations was $0.33 compared to earnings per basic and diluted share of $0.04 a year ago. Net cash flows used by operating activities were $34,202,000 compared to $954,000 a year ago. Capital expenditures were $59,681,000 compared to $42,965,000 a year ago. Adjusted operating profit from continuing operations was $57,097,000 compared to $20,555,000 a year ago. Adjusted EBITDA from continuing operations was $90,297,000 compared to $50,998,000 a year ago.
For the quarter, the company reported asset impairment was $1,480,000 against $462,000 a year ago.
Commercial Metals Company is engaged in offering products and technologies for the global construction sector through manufacturing network principally located in the United States and Central Europe. The Companyâs solutions support construction across a variety of applications, including infrastructure, non-residential, residential, industrial, and energy generation and transmission. Its segments include North America and Europe. The North America segment provides a diverse offering of products and solutions to support the construction sector composed primarily of a vertically integrated network of recycling facilities, steel mills and fabrication operations. The Companyâs 43 scrap metal recycling facilities, primarily located in the southeast and central United States process ferrous and nonferrous scrap metals. The Europe segment is composed primarily of a vertically integrated network of recycling facilities, an EAF mini mill and fabrication operations located in Poland.
Commercial Metals Company Announces Unaudited Consolidated Financial Results for the First Quarter Ended November 30, 2017; Reports Asset Impairment for the First Quarter Ended November 30, 2017