By Connor Hart
Commercial Metals swung to a profit in its fiscal first quarter as sales increased, boosted by stable demand and improving margins.
The Irving, Texas, steelmaker on Thursday posted a profit of $177.3 million, or $1.58 a share, for its three months ended Nov. 30, compared with a loss of $175.7 million, or $1.54 a share, a year earlier.
The company noted the recent quarter included a $28.9 million charge, largely tied to recent acquisitions, while last year's comparable quarter included a $265 million charge tied to litigation.
Stripping out one-time items, earnings were $1.84 a share. Analysts polled by FactSet were expecting adjusted earnings of $1.57 a share.
Sales climbed 11% to $2.12 billion, topping Wall Street forecasts for $2.05 billion.
Chief Executive Peter Matt said the company benefited from a solid domestic market environment in its latest quarter, with stable demand and expanding margins.
"Based on what we see today, and the developing economic trends that should drive construction activity well into the future, we are excited about the long-term outlook," he said.
Matt noted, though, that Ebitda--or earnings before interest, taxes, depreciation and amortization--is expected to decline sequentially due to a normal seasonal slowdown. Commercial Metals will additionally recognize several acquisition-related expenses in the current quarter, he added.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
January 08, 2026 07:19 ET (12:19 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
