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Commercial Metals 1Q profit falls, revenue drops

Published on NewsOK Modified: January 7, 2013 at 9:35 am •  Published: January 7, 2013

Revenue declined 10 percent to $1.79 billion from $1.99 billion. Wall Street forecast $1.89 billion in revenue.

The Americas Recycling division faced lower demand in the quarter, which hurt ferrous and nonferrous prices. The Americas Fabrication unit reported an adjusted operating profit compared with an adjusted operating loss a year earlier as backlog margins improved and material pricing stabilized.

At the international mill segment results were hurt by ongoing softness in Europe. The international marketing and distribution division was helped by the Trineke Zelezarny stake sale.

Commercial Metals Co. also declared a quarterly dividend of 12 cents per share. The dividend will be paid on Feb. 1 to shareholders of record on Jan. 18.

Its shares rose 51 cents, or 3.3 percent, to $16.05 in morning trading. Its stock is approaching its 52-week high of $16.48 almost a year ago. It fell as low as $11.30 on June 1.