Commercial Metals Co. reported that net earnings for Q3 rose to $312.4 million or $2.54 per share from $130.41 million or $1.07 per share in the prior-year quarter.
CMC up +0.56%, NUE down -2.99%, Pre-market trading
The adjusted earnings for the quarter, excluding items, were $320.24 million or $2.61 per share, compared to $127.11 million or $1.04 per share in the year-ago quarter.
The company’s net sales for the quarter jumped to $2.52 billion from $1.85 billion in the same quarter last year.
Barbara R. Smith, Chairman of the Board, President, and CEO, stated that the third quarter was a remarkable financial result backed by strong operational execution and robust market conditions across major geographies.
The board of directors declared a quarterly dividend of $0.14 per share of CMC common stock, payable on July 13, 2022, to stockholders of record on June 29, 2022.
The company anticipates solid financial performance to continue in the fourth quarter, with strong demand for each of CMC’s major product lines projected to persist.