CMC - Commercial Metals EPS beats by $0.20 beats on revenue

Commercial Metals (CMC): FQ3 Non-GAAP EPS of $1.04 beats by $0.20; GAAP EPS of $1.07 beats by $0.27.Revenue of $1.84B (+37.3% Y/Y) beats by $100M.Shipment volumes of finished steel, which include steel products and downstream products, increased by 9% from the prior year third quarter.Outlook: "Strong demand across multiple end-use markets should support robust shipment levels of finished steel during the fourth quarter in both North America and Europe. Construction activity is strong and the industrial sectors are growing in both the U.S. and Central Europe, as both regions continue to recover from the pandemic. We expect margins over scrap on steel products in North America and Europe to be relatively flat or up modestly from third quarter levels."Press Release

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Commercial Metals EPS beats by $0.20, beats on revenue