Commercial Metals reports Q1 EPS $2.20, consensus $1.96

Reports Q1 revenue $2.23B, consensus $2.2B. Barbara Smith, chairman of the board, president and CEO, said, "CMC‘s outstanding financial performance during fiscal 2023’s first quarter was made possible through strong execution by our North America and Europe teams who navigated very different market environments. In North America, we again benefited from strong demand, enabling us to achieve near record quarterly segment adjusted EBITDA. Our Europe operations leveraged their excellent relative cost position to gain market share, shipping high volumes despite dynamic and uncertain market conditions. CMC’s fiscal first quarter results provide another clear demonstration of how our ongoing strategic actions have positioned the company to perform well throughout the economic cycle, generating superior value for shareholders."