CMC - Commercial Metals falls 3.8% after missing earning estimates

Commercial Metals (NYSE:CMC) trades 3.8% lower after the company missed estimates for both revenue and adjusted earnings. During Q4, the Company recorded GAAP EPS of $1.24, and Non-GAAP EPS of $1.26, excluded a net after-tax charge of $1.9M related to the impairment of recycling assets. In Q4, the company generated an EBITDA of $247.8M, North America segment generated record adjusted EBITDA of $212M, up 22% Y/Y, Europe segment recorded adjusted EBITDA of $67.7M. Outlook: The company expects strong operating and financial performance will continue in fiscal 2022. Volumes should remain solid, supported by a replenished construction backlog in North America, as well as broad strength across key end markets in both North America and Europe. In 1Q22, finished steel volumes follow typical seasonal patterns, which have historically declined modestly from Q4 levels. Margins to remain consistent with the historical high levels earned in the Q4. In a separate release yesterday, Commercial Metals

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Commercial Metals falls 3.8% after missing earning estimates