Commercial Metals reports Q3 adjusted EPS $2.02, consensus $1.76

Reports Q3 revenue $2.34B, consensus $2.24B. Barbara Smith, chairman of the board and CEO, said, “CMC delivered strong third quarter financial results, benefiting from robust North American construction activity, good product margins in the domestic market, and success in our continued efforts to reduce controllable costs. Our North America segment achieved EBITDA growth both sequentially and year-over-year, demonstrating the resilience of CMC’s business and the strength of our end markets. During the third quarter, North American segment volumes were supported by significant structural trends, including the re-shoring of manufacturing and logistical supply chains, and increasing investment to improve the condition and functionality of our nation’s core infrastructure and energy markets. We expect increased activity in these rebar-intensive construction sectors will continue to drive demand in the quarters and years ahead.”