What Analysts Project for CMC’s Fiscal 4Q17 Earnings
Fiscal 4Q17 earnings
Commercial Metals Company is scheduled to release its fiscal 4Q17 earnings on October 26. Note that the company’s financial year runs from July to August. Commercial Metals Company produces steel through mini-mills, and it’s among the leading rebar suppliers in the United States. Nucor (NUE) is the largest rebar supplier in North America.
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According to the consensus estimates compiled by Thomson Reuters, analysts expect CMC to post revenues of $1.23 billion in the quarter, compared to $1.20 billion in the corresponding quarter last year. While the company’s fiscal 4Q17 revenues are expected to be almost flat on a year-over-year basis, analysts are projecting a steep sequential decline. Lower revenues could be attributed to portfolio actions. Earlier this year, the company completed the sale of CMC Cometals. By exiting the marketing and trading this business, CMC should be able to focus on its steel manufacturing business (GGB)(X).
Analysts expect CMC’s adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) to fall to $80 million in fiscal 4Q17, compared to $96 million in the sequential quarter.
Remember that CMC is the fifth-largest US-based steel company (XME). CMC offers a healthy dividend yield of 2.54%. However, the stock isn’t rated favorably by Wall Street, and it has the lowest percentage of “buy” or higher recommendations among the top five US-based steel companies. See Your Guide to Top-Rated US Steel Producers to see how analysts are rating US-based steel companies.
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