CMC - Commercial Metals FQ4 shows core EBITDA at second highest level

• Commercial Metals ( NYSE: CMC ) FQ4 shows net sales of $2.4B vs. $2B.
• Region-wise sales: North America $2B; Europe $412K
• Generated record annual core EBITDA of $1.6B; FQ4 core EBITDA of $419M increased 64% Y/Y and was the second highest in company history.
• Net earnings of $288.6M, or $2.4 EPS, increased 89% Y/Y. Record annual net earnings of $1.2B.
• Repurchased $106.3M stock; this week announced a 14% increase to the quarterly dividend .
• Cash and cash equivalents ended the quarter with a balance of $672.6M, while available liquidity totaled over $1.3B.
• Barbara R. Smith, Chairman of the Board, President and CEO mentioned, "Looking at the fourth quarter, we generated the second-best Core EBITDA in our Company's history, behind only the previous quarter.  I am extremely proud of our continued solid execution, which has enabled us to fully capitalize on very strong market conditions in North America and to navigate the volatile conditions in Europe.  The flexibility of our operations in Poland, and its low-cost operating structure relative to peers, positions CMC well to manage the challenging economic environment in Europe."
• Contributor comments: ' Commercial Metals Company: Very Impressive '
• SA Rating of Hold with 3.00 score; Wall St. rating of Buy with 3.75 score and average price target of 42.63; Quant rating of Buy highest factor grades given to momentum and lowest to valuation and revisions.
• Previously (Oct. 13): Commercial Metals Non-GAAP EPS of $2.45 beats by $0.22, revenue of $1.99B

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