Commercial Metals Q2 Adj. EPS $0.88 Beats $0.73 Estimate, Sales $1.85B Beat $1.80B Estimate
Portfolio Pulse from Benzinga Newsdesk
Commercial Metals (NYSE:CMC) reported Q2 adjusted EPS of $0.88, surpassing the $0.73 estimate, with sales of $1.85B also beating the $1.80B estimate. However, this represents a 38.89% decrease in EPS and an 8.42% decrease in sales from the same period last year.
March 21, 2024 | 10:46 am
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Commercial Metals reported a strong Q2 with EPS and sales beating estimates, though both metrics saw declines from the previous year.
Beating both EPS and sales estimates typically has a positive short-term impact on a company's stock price. However, the year-on-year declines in both earnings and sales might temper investor enthusiasm, suggesting a cautious optimism.
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