Stock Track | Commercial Metals Soars 5.37% in Pre-Market on Strong Q1 Earnings Beat
Stock Track01-08
Commercial Metals (CMC) surged 5.37% in pre-market trading after reporting better-than-expected fiscal Q1 results. The company posted adjusted earnings of $1.84 per share, beating the consensus estimate of $1.56, while revenue of $2.12 billion exceeded expectations of $2.06 billion.
The strong performance was driven by favorable market conditions, including stable demand and expanding margins in its North America Steel Group. Core EBITDA rose 52% year-over-year to $316.9 million, with the company also benefiting from strategic acquisitions and operational improvements under its TAG program.
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