Commercial Metals Q1 Adj. EPS $1.63 Beats $1.45 Estimate, Sales $2.00B Beat $1.89B Estimate
Portfolio Pulse from Benzinga Newsdesk
Commercial Metals Company (CMC) reported Q1 adjusted EPS of $1.63, surpassing the $1.45 estimate, and sales of $2.00B, exceeding the $1.89B estimate. However, these figures represent a decrease from the same period last year, with earnings down 27.23% and sales down 10.06%.
January 08, 2024 | 11:47 am
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Commercial Metals (CMC) reported a strong Q1 with adjusted EPS and sales beating estimates, but showed a decrease from the previous year's figures.
Beating earnings and sales estimates is typically a positive signal for investors and can lead to a short-term increase in stock price. However, the year-over-year decline in both earnings and sales may temper investor enthusiasm, suggesting a mixed impact on the stock price.
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