Commercial Metals Company Announces Unaudited Consolidated Financial Results for the First Quarter Ended November 30, 2016
January 09, 2017 at 06:40 am
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Commercial Metals Company announced unaudited consolidated financial results for the first quarter ended November 30, 2016. For the quarter, the company reported net sales of $1,075.063 million against $1,154.859 million a year ago. Earnings from continuing operations were $7.174 million or $0.22 per diluted share, compared with $25.633 million or $0.29 per diluted share for the first quarter of fiscal 2015. Net earnings attributable to the company were $6.275 million or $0.05 per diluted share against $25.063 million or $0.21 per diluted share a year ago. Net cash flows used in operating activities were $0.954 million against net cash flows from operating activities of $219.573 million a year ago. Capital expenditures were $42.965 million against $11.169 million a year ago. Adjusted operating profit from continuing operations were $23.352 million compared to $11.169 million for the same period a year ago. Adjusted operating profit was $55.539 million compared to $65.328 million for the same period a year ago. Adjusted EBITDA from continuing operations was $53.8 million for the first quarter of fiscal 2017, compared with adjusted EBITDA from continuing operations of $87.7 million for the first quarter of fiscal 2016.
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.