Adjusted earnings reached $1.73 a share, edging past the $1.70 consensus estimate from FactSet analysts. Revenue climbed 3% to $2.48 billion, surpassing the projected $2.4 billion. This financial growth was anchored by the company's construction products division, where sales hit $394.6 million following the integration of Foley Products Company and CP&P.
In section Market Quotes
Commercial Metals Profit Doubles on Steel Price Surge
Commercial Metals saw its fiscal third-quarter profit surge to $173 million, more than doubling the $83.1 million recorded during the same period last year. Driven by sustained steel pricing power and strategic acquisitions, the company outperformed analyst expectations for both earnings and total revenue as of May 31.
Within the North American steel group, the company offset a dip in total shipment volumes through higher average selling prices. The European segment mirrored this trend, recording gains in both volume and pricing. Chief Executive Peter Matt noted that current bookings and backlogs remain at attractive levels, signaling continued demand. Following the announcement, Commercial Metals shares rose 2.4% to $73.
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