The firm recorded adjusted earnings of $1.73 per share, which was an increase from a year earlier but below analyst estimates of $1.77 per share.
Commercial Metals announced quarterly sales of $2.48 billion, compared with $2.02 billion reported a year earlier. Analysts had expected revenue of $2.41 billion.
In the third quarter, the core EBITDA margin increased by 440 basis points to 14.2 percent compared to the prior year period.
North America Steel Group’s adjusted EBITDA rose 41 percent year-over-year to $253.5 million.
Construction Solutions Group’s net sales doubled year-over-year to $394.6 million, while adjusted EBITDA increased 138.1 percent to $97.4 million. The adjusted EBITDA margin for this group rose by 400 basis points to 24.7 percent.
Europe Steel Group generated adjusted EBITDA of $34.7 million, up from $3.6 million in the prior-year period. The adjusted EBITDA margin expanded to 11.9 percent, up from 1.5 percent a year ago.
Peter Matt, President and Chief Executive Officer, stated, “During our fiscal third quarter, we continued to make great progress on our strategic agenda across a number of fronts. We substantially grew Core EBITDA, and made meaningful progress deleveraging our balance sheet.”
