COMMERCIAL METALS Reports Third Quarter Earnings for 2023 on June 22

🌥️Earnings Overview

On June 22, 2023, COMMERCIAL METALS ($NYSE:CMC) reported their earnings results for the third quarter of the fiscal year 2023. The total revenue reported for this quarter was USD 2345.0 million, representing a 6.8% decrease compared to the same quarter in the previous year. Additionally, the net income for the quarter also decreased by 25.1% from the same quarter in the prior year, amounting to USD 234.0 million.

Market Price

The results were well-received by investors, as CMC stock opened at $48.6 and closed at $51.8, an 8.8% increase from the prior closing price of $47.6. These results demonstrate CMC’s commitment to delivering strong results and investing in growth opportunities. Analysts are optimistic that CMC will continue to drive sustained success in the coming years. Live Quote…

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…

Analysis

At GoodWhale, we have analyzed COMMERCIAL METALS‘ wellbeing to determine its health score. The results of our Star Chart indicate a high score of 8/10, which is reassuring given the company’s cashflows and debt. COMMERCIAL METALS is classified as a ‘gorilla’, a type of company that has achieved stable and high revenue or earnings growth due to its strong competitive advantage. We believe that investors with a long-term outlook may be particularly interested in this type of company, as it is strong in assets, dividend, growth, and medium in profitability. COMMERCIAL METALS is well-positioned to pay off its debt and fund future operations, making it a prime candidate for those looking to invest in a stable and profitable business. 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 reported their quarterly financial results on June 22, 2023, with total revenue of USD 2345.0 million and a net income of USD 234.0 million, a respective 6.8% and 25.1% decrease from the prior year. The stock price increased the same day, indicating a positive investor sentiment about the company’s performance. Analysts suggest that investors should evaluate the company’s strategic plans for long-term performance despite the current quarter’s weak results. It would also be important to consider factors like market share and competitive landscape in order to make an informed investment decision.