Stock Monitor: Schnitzer Steel Industries Post Earnings Reporting
LONDON, UK / ACCESSWIRE / January 16, 2018 /Active-Investors.com has just released a free earnings report on Commercial Metals Co. (NYSE: CMC). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=CMC. The Company posted its financial results on January 03, 2018, for the first quarter of the fiscal year 2018. The steel and metal manufacturer's revenue and EPS surpassed analysts' expectations. Register today and get access to over 1000 Free Research Reports by joining our site below:
Active-Investors.com is currently working on the research report for Schnitzer Steel Industries, Inc. (NASDAQ: SCHN), which also belongs to the Basic Materials sector as the Company Commercial Metals. Do not miss out and become a member today for free to access this upcoming report at:
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Commercial Metals most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
For the three months ended November 30, 2017, Commercial Metals' net revenues increased 24.6% to $1.24 billion from $994.09 million in Q1 FY17. The Company's revenue numbers surpassed analysts' expectations of $1.11 billion.
For the reported quarter, the Company's gross profit increased 32.1% to $163.58 million from $123.81 million in Q1 FY17. For the reported quarter, the Company's gross margin increased 70 basis points to 13.2% of revenue from 12.5% of revenue in Q1 FY17.
During Q1 FY18, Commercial Metals' adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) increased 77.1% to $90.30 million from $51.00 million in the same period of last year. For the reported quarter, the Company's EBITDA margin increased 220 basis points to 7.3% of revenue from 5.1% of revenue in Q1 FY17.
During Q1 FY18, Commercial Metals' earnings before tax (EBT) increased 615.1% to $50.31 million from $7.04 million in the comparable period of last year. For the reported quarter, the Company's EBT margin increased 340 basis points to 4.1% of revenue from 0.7% of revenue in Q1 FY17.
For the reported quarter, Commercial Metals' net income increased 486.6% to $36.81 million on a y-o-y basis from $6.28 million in Q1 FY17. During Q1 FY18, the Company's diluted earnings per share (EPS) increased 520% to $0.31 on a y-o-y basis from $0.05 in the corresponding period of last year, surpassing analysts' expectations of $0.17.
Americas Recycling - During Q1 FY18, the Company's Americas Recycling segment's net revenue increased 80.7% to $319.33 million from $176.71 million in the same period of last year. For the reported quarter, the segment's adjusted operating income was $9.93 million compared to an adjusted operating loss of $5.10 million in Q1 FY17. For the reported quarter, the segment shipped 655,000 short tons compared to 454,000 short tons in Q1 FY17.
Americas Mills - During Q1 FY18, the Company's Americas Mills segment's net revenue increased 19.1% to $413.52 million from $347.17 million in the comparable period of last year. For the reported quarter, the segment's adjusted operating income increased 10.3% to $40.76 million from $36.95 million in Q1 FY17. For the reported quarter, the segment shipped 677,000 short tons compared to 635,000 short tons in Q1 FY17.
Americas Fabrication - During Q1 FY18, the Company's Americas Fabrication segment's net revenue decreased 1.7% to $332.78 million from $338.40 million in the corresponding period of last year. For the reported quarter, the segment's adjusted operating loss was $4.78 million compared to an adjusted operating income of $6.71 million in Q1 FY17. For the reported quarter, the segment shipped 264,000 short tons compared to 273,000 short tons in Q1 FY17.
International Mill - During Q1 FY18, the Company's International Mill segment's net revenue increased 64% to $220.47 million from $134.40 million in the same period of last year. For the reported quarter, the segment's adjusted operating income increased 134.6% to $23.39 million from $9.97 million in Q1 FY17. For the reported quarter, the segment shipped 221,000 short tons compared to 195,000 short tons in Q1 FY17.
International Marketing and Distribution - During Q1 FY18, the Company's International Marketing and Distribution segment's net revenue decreased 2.3% to $163.30 million from $166.84 million in the comparable period of last year. For the reported quarter, the segment's adjusted operating income was $10.53 million compared to an adjusted operating loss of $3.76 million in Q1 FY17.
As on November 30, 2017, Commercial Metals' cash and cash equivalents decreased 48.5% to $130.21 million from $252.60 million as on August 31, 2017. For the reported quarter, the Company's long-term debt decreased 0.2% to $803.79 million from $805.58 million in Q4 FY17.
For the reported quarter, the Company's net accounts receivable increased 9.3% to $772.59 million from $706.60 million in Q4 FY17. For the reported quarter, Commercial Metals' accounts payable decreased 13.3% to $244.70 million from $282.13 million in Q4 FY17.
During Q1 FY18, the Company's net cash provided by operating activities was negative $34.20 million compared to negative $0.95 million in the corresponding period of last year.
On January 02, 2018, the Company's Board of Directors declared a regular quarterly cash dividend of $0.12 per share of its common stock, payable on January 31, 2018, to stockholders of record as of the close of business on January 16, 2018.
Stock Performance Snapshot
January 12, 2018 - At Friday's closing bell, Commercial Metals' stock dropped 2.56%, ending the trading session at $25.16.
Volume traded for the day: 2.01 million shares, which was above the 3-month average volume of 1.93 million shares.
Stock performance in the last month – up 21.72%; previous three-month period – up 23.27%; past twelve-month period – up 24.00%; and year-to-date – up 18.01%
After last Friday's close, Commercial Metals' market cap was at $2.92 billion.
Price to Earnings (P/E) ratio was at 46.68.
The stock has a dividend yield of 1.91%.
The stock is part of the Basic Materials sector, categorized under the Steel & Iron industry. This sector was up 1.0% at the end of the session.
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