COMMERCIAL METALS Reports Financial Results for Second Quarter of FY2023

Earnings Overview

COMMERCIAL METALS ($NYSE:CMC) announced on February 28, 2023 their financial results of the second quarter of FY 2023, which ended on that date. Total revenue for the period was USD 179.8 million, showing a decrease of 53.1% compared to the same period of the previous year. Nevertheless, net income increased by 0.5%, reaching USD 2018.0 million.

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About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Commercial Metals. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Commercial Metals. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Commercial Metals. More…

Key Ratios Snapshot

Some of the financial key ratios for Commercial Metals are shown below. More…

Stock Price

The company’s stock opened at $46.4 and closed at $45.9, up by 3.1% from its prior closing price of 44.5. These impressive financial results demonstrate COMMERCIAL METALS‘ strong positioning in their industry, with increasing profits and strong cash flow. With these solid results, investors can be confident that the company is well-positioned to continue to grow and generate value for its shareholders. Live Quote…

Analysis

At GoodWhale, we’ve looked into COMMERCIAL METALS’s fundamentals and have evaluated it. From our Risk Rating, we can see that COMMERCIAL METALS is a high risk investment in terms of its financial and business aspects. Moreover, our analysis has detected 2 risk warnings in its income sheet, and balance sheet. If you want to know more details, you can always register on GoodWhale.com and check it out. More…

Peers

Commercial Metals Co is one of the world’s largest producers and marketers of steel and metal products. The company operates in more than 30 countries and serves a wide range of industries, including construction, transportation, energy, and manufacturing. Commercial Metals Co’s competitors include KG Dongbusteel, Steel Dynamics Inc, Yieh Phui Enterprise Co Ltd, and a number of other large steel and metal producers.

– KG Dongbusteel ($KOSE:016380)

Dongbu Steel is a South Korean steel company. It was founded in 1954 and is headquartered in Seoul. The company has four business units: steel, trading, engineering, and construction. Dongbu Steel is one of the largest steel companies in South Korea, with an annual production capacity of 5 million tons of crude steel. The company supplies steel to major Korean conglomerates such as Hyundai, POSCO, and LG. In addition to its domestic market, Dongbu Steel exports to over 60 countries around the world.

– Steel Dynamics Inc ($NASDAQ:STLD)

Steel Dynamics Inc is an American steel manufacturer. The company produces steel and steel products, including hot and cold rolled, coated, and painted steel products. The company has a market cap of 16.97B as of 2022 and a Return on Equity of 50.1%. Steel Dynamics is one of the largest steel manufacturers in the United States.

– Yieh Phui Enterprise Co Ltd ($TWSE:2023)

Yieh Phui Enterprise Co Ltd is a Taiwanese company that manufactures and sells steel products. The company has a market cap of 28.19B as of 2022 and a Return on Equity of 13.27%. The company’s products include hot and cold rolled steel, steel plates, steel pipes, and more.

Summary

Commercial Metals Company (CMC) reported their financial results for the second quarter of FY2023 on February 28, 2023. Total revenue for the period was USD 179.8 million, a 53.1% decrease compared to the previous year. Despite this, net income rose slightly by 0.5% to USD 2018.0 million.

Investors reacted positively to the news and the stock price rose the same day. Given the company’s resilient performance and profitability, despite a decrease in revenue, investors should consider investing in CMC as it is well positioned to weather the current market conditions.