Commercial Metals Co. (NYSE:CMC) reported mixed fiscal second-quarter results on Thursday.
CMC reported fiscal second-quarter adjusted earnings of $1.16 per diluted share, missing the $1.30 estimate, while sales of $2.132 billion beat the $2.091 billion estimate.
Net earnings were $93.0 million, or 83 cents per diluted share, on net sales of $2.1 billion. This compares with $25.5 million, or 22 cents per diluted share, on net sales of $1.8 billion a year earlier.
Peter Matt, President and Chief Executive Officer, said, "The CMC team delivered another strong quarter, driving a more than two-fold increase in core EBITDA compared to a year ago."
CMC expects third-quarter fiscal 2026 core EBITDA to increase meaningfully from second-quarter levels. Seasonal improvement and margin strength will drive growth.
The company anticipates continued growth in the second half of the year. Growth is expected to be supported by its TAG program and precast platform contributions. The precast platform is expected to generate $165 million to $175 million in full-year EBITDA.
Commercial Metals shares fell 1.5% to trade at $58.60 on Friday.
These analysts made changes to their price targets on Commercial Metals following earnings announcement.
- Wells Fargo analyst Timna Tanners maintained Commercial Metals with an Overweight rating and lowered the price target from $80 to $77.
- JP Morgan analyst Bill Peterson maintained the stock with an Overweight rating and cut the price target from $85 to $83.
Considering buying CMC stock? Here’s what analysts think:
Photo via Shutterstock