IRVING, Texas (AP) 鈥� IRVING, Texas (AP) 鈥� Commercial Metals Co. (CMC) on Thursday reported fiscal third-quarter profit of $173 million.
The Irving, Texas-based company said it had profit of $1.55 per share. Earnings, adjusted for one-time gains and costs, came to $1.73 per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.60 per share.
The manufacturer and recycler of steel and metal products posted revenue of $2.48 billion in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $2.37 billion.
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