Commercial Metals Company (CMC, Financial) filed Quarterly Report for the period ended 2011-11-30.
Commercial Metals Co. has a market cap of $1.73 billion; its shares were traded at around $14.99 with a P/E ratio of 51.69 and P/S ratio of 0.22. The dividend yield of Commercial Metals Co. stocks is 3.2%.
Americas Recycling During the first quarter of 2012, this segment reported an increase in net sales and adjusted operating profit as compared to the first quarter of 2011. The improvement in adjusted operating profit was primarily the result of LIFO income of $10.6 million in the first quarter of 2012 as compared to LIFO expense of $2.2 million in the first quarter of 2011. Ferrous pricing and volumes were higher in the first quarter of 2012 as compared to first quarter of 2011 as a result of improved demand. We exported 5% of our ferrous scrap tonnage and 35% of our nonferrous scrap tonnage during the quarter. Our new shredders in Texas and Oklahoma will be operational in the second quarter of 2012.
Within the segment, adjusted operating profit for our five domestic steel mills was $58.4 million for the first quarter of 2012 compared to an adjusted operating profit of $29.1 million for the prior years first quarter. The quarterly adjusted operating profit increased due to volume and margin improvements in our merchant and billet products. We recorded LIFO income of $0.9 million in the first quarter of 2012 as compared to LIFO expense of $10.5 million last year. Our mills operated at 78% of capacity in the first quarter of
International Mills We include the mimimill, CMC Zawiercie (CMCZ), and recycling and fabrication operations in Poland in our International Mills segment. During the first quarter of 2012, this segments adjusted operating profit was $9.8 million as compared to an adjusted operating profit of $6.4 million in the first quarter of last year. The mill benefited from a continued strong Polish economy which drove higher volumes and pricing in the first quarter of 2012. Additionally, the mill experienced an improved product mix from
International Marketing and Distribution During the first quarter of 2012, this segment reported an increase in net sales of 10% but reported an adjusted operating loss of $4.1 million as compared to an adjusted operating profit of $24.2 million in the first quarter of 2011. The decrease in adjusted operating results was primarily due to charges incurred on iron ore purchase contracts as our raw material marketing business was adversely impacted by the deterioration of iron ore prices during the first quarter of 2012. Australias adjusted operating results shifted to a small adjusted operating loss in the first quarter of 2012 as compared to an adjusted operating profit in the prior years first quarter as the Australian economy remains sluggish. Our recently acquired operation in Australia, G.A.M. Steel, was profitable during the first quarter.
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Commercial Metals Co. has a market cap of $1.73 billion; its shares were traded at around $14.99 with a P/E ratio of 51.69 and P/S ratio of 0.22. The dividend yield of Commercial Metals Co. stocks is 3.2%.
Highlight of Business Operations:
Net sales of the Americas Recycling segment increased $39.0 million, or 10%, and adjusted operating profit increased $12.6 million during the first quarter of 2012 as compared to the prior years first quarter. The improvement in adjusted operating profit is primarily due to a swing to LIFO income of $12.8 million.Americas Recycling During the first quarter of 2012, this segment reported an increase in net sales and adjusted operating profit as compared to the first quarter of 2011. The improvement in adjusted operating profit was primarily the result of LIFO income of $10.6 million in the first quarter of 2012 as compared to LIFO expense of $2.2 million in the first quarter of 2011. Ferrous pricing and volumes were higher in the first quarter of 2012 as compared to first quarter of 2011 as a result of improved demand. We exported 5% of our ferrous scrap tonnage and 35% of our nonferrous scrap tonnage during the quarter. Our new shredders in Texas and Oklahoma will be operational in the second quarter of 2012.
Within the segment, adjusted operating profit for our five domestic steel mills was $58.4 million for the first quarter of 2012 compared to an adjusted operating profit of $29.1 million for the prior years first quarter. The quarterly adjusted operating profit increased due to volume and margin improvements in our merchant and billet products. We recorded LIFO income of $0.9 million in the first quarter of 2012 as compared to LIFO expense of $10.5 million last year. Our mills operated at 78% of capacity in the first quarter of
International Mills We include the mimimill, CMC Zawiercie (CMCZ), and recycling and fabrication operations in Poland in our International Mills segment. During the first quarter of 2012, this segments adjusted operating profit was $9.8 million as compared to an adjusted operating profit of $6.4 million in the first quarter of last year. The mill benefited from a continued strong Polish economy which drove higher volumes and pricing in the first quarter of 2012. Additionally, the mill experienced an improved product mix from
International Marketing and Distribution During the first quarter of 2012, this segment reported an increase in net sales of 10% but reported an adjusted operating loss of $4.1 million as compared to an adjusted operating profit of $24.2 million in the first quarter of 2011. The decrease in adjusted operating results was primarily due to charges incurred on iron ore purchase contracts as our raw material marketing business was adversely impacted by the deterioration of iron ore prices during the first quarter of 2012. Australias adjusted operating results shifted to a small adjusted operating loss in the first quarter of 2012 as compared to an adjusted operating profit in the prior years first quarter as the Australian economy remains sluggish. Our recently acquired operation in Australia, G.A.M. Steel, was profitable during the first quarter.
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