Metal Price
Scrap Monster
Vulcan
Metal Recycling News June 29, 2020 08:15:15 PM

Commercial Metals Company Posted Results for Q3 Fiscal 2020

Paul Ploumis
ScrapMonster Author
The Q3 earnings from continuing operations were $64.2 million or $0.53 per diluted share.

Commercial Metals Company Posted Results for Q3 Fiscal 2020

SEATTLE (Scrap Monster): Irving, Texas-headquartered Commercial Metals Company announced financial results for third quarter fiscal 2020 ended 31st May, 2020.

The Q3 earnings from continuing operations were $64.2 million or $0.53 per diluted share. This compares with earnings from continuing operations of $78.6 million, or $0.66 per diluted share during the corresponding quarter in previous fiscal. The net sales dropped from $1.6 billion to $1.3 billion over the year.

The curtailment of a west coast fabrication facility resulted in $6.2 million net after-tax charge, mainly on account of facility closure expenses and asset impairments. Excluding the above expenses, the company reported adjusted earnings from continuing operations of $70.4 million, or $0.59 per diluted share in Q3, compared to $0.67 per diluted share a year before, said the company press release.

RELATED NEWS:

Commercial Metals Company Announces Top Executive Leadership Changes

Commercial Metals Company Posted Robust Results for 2Q Fiscal 2020

The company’s Americas Recycling segment recorded an adjusted EBITDA loss of $1.7 million, whereas the Americas Mills segment recorded adjusted EBITDA of $133.2 million for the third quarter of fiscal 2020. The adjusted EBITDA of Americas Fabrication segment totalled $31.9 million. Also, the International Mill segment in Poland recorded adjusted EBITDA of $14.3 million.

SM Newsletter
Subscribe to SM mailing list and get updates to your inbox
Facebook Twitter Linkedin Instagram