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Commercial Metals Company Q1 net earnings $25.1 million

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Staff writer | Wednesday January 6, 2016 4:15AM ET
Commercial Metals Company
Commercial Metals Company   $0.21 per diluted share

Commercial Metals Company (CMC) announced financial results for its first quarter ended November 30, 2015. Net earnings attributable to CMC were $25.1 million ($0.21 per diluted share) on net sales of $1.2 billion.


This compares to net earnings attributable to CMC of $32.2 million ($0.27 per diluted share) on net sales of $1.7 billion for the first quarter ended November 30, 2014.

Earnings from continuing operations for the first quarter of fiscal 2016 were $25.6 million ($0.22 per diluted share), compared with earnings from continuing operations of $34.3 million ($0.29 per diluted share) for the first quarter of fiscal 2015.

Adjusted operating profit from continuing operations was $56.1 million for the first quarter of fiscal 2016. This compares with adjusted operating profit from continuing operations of $67.0 million for the first quarter of fiscal 2015.

Adjusted EBITDA from continuing operations was $87.7 million for the first quarter of fiscal 2016, compared with adjusted EBITDA from continuing operations of $100.1 million for the first quarter of fiscal 2015.

The Company's financial position at November 30, 2015 remained strong with cash and cash equivalents of $637.2 million, compared to $485.3 million at August 31, 2015, and approximately $1.2 billion in total liquidity. Cash flow from operations was strong at $219.6 million.

Pursuant to the share repurchase program that was approved in the first quarter of fiscal 2015, the Company purchased approximately 316 thousand shares of its common stock for $4.6 million during the first quarter of fiscal 2016.

 

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