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Ahead of Commercial Metals (CMC) Q2 Earnings: Get Ready With Wall Street Estimates for Key Metrics
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Wall Street analysts expect Commercial Metals (CMC - Free Report) to post quarterly earnings of $1.28 per share in its upcoming report, which indicates a year-over-year increase of 392.3%. Revenues are expected to be $1.98 billion, up 13% from the year-ago quarter.
The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
Bearing this in mind, let's now explore the average estimates of specific Commercial Metals metrics that are commonly monitored and projected by Wall Street analysts.
Based on the collective assessment of analysts, 'Net Sales- Emerging Businesses Group- Net sales from external customers' should arrive at $235.37 million. The estimate indicates a change of +48.2% from the prior-year quarter.
According to the collective judgment of analysts, 'Net sales from external customers- North America' should come in at $1.50 billion. The estimate indicates a year-over-year change of +8.3%.
Analysts' assessment points toward 'Net sales from external customers- Europe' reaching $234.14 million. The estimate indicates a year-over-year change of +18.2%.
It is projected by analysts that the 'Net sales from external customers- Corporate and Other' will reach $10.78 million. The estimate indicates a year-over-year change of +1.3%.
The consensus estimate for 'Major product- North America- Other' stands at $50.82 million. The estimate indicates a change of +5.9% from the prior-year quarter.
Analysts predict that the 'North America - Average selling price (per ton) - Raw materials' will reach $939.87 . Compared to the present estimate, the company reported $956.00 in the same quarter last year.
The average prediction of analysts places 'Europe - Steel products metal margin per ton' at $290.50 . Compared to the current estimate, the company reported $275.00 in the same quarter of the previous year.
Analysts forecast 'North America - Average selling price (per ton) - Downstream products' to reach $1243.79 . Compared to the current estimate, the company reported $1221.00 in the same quarter of the previous year.
Analysts expect 'North America - Average selling price (per ton) - Steel products' to come in at $926.49 . Compared to the current estimate, the company reported $814.00 in the same quarter of the previous year.
The consensus among analysts is that 'North America - Average selling price (per ton) - Cost of ferrous scrap utilized per ton' will reach $330.65 . Compared to the present estimate, the company reported $338.00 in the same quarter last year.
The collective assessment of analysts points to an estimated 'North America - Average selling price (per ton) - Steel products metal margin per ton' of $595.84 . The estimate compares to the year-ago value of $476.00 .
The combined assessment of analysts suggests that 'Europe - Steel products (External tons shipped)' will likely reach 343.02 thousand. The estimate compares to the year-ago value of 310.00 thousand.
Over the past month, shares of Commercial Metals have returned -21.6% versus the Zacks S&P 500 composite's -5.7% change. Currently, CMC carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Ahead of Commercial Metals (CMC) Q2 Earnings: Get Ready With Wall Street Estimates for Key Metrics
Wall Street analysts expect Commercial Metals (CMC - Free Report) to post quarterly earnings of $1.28 per share in its upcoming report, which indicates a year-over-year increase of 392.3%. Revenues are expected to be $1.98 billion, up 13% from the year-ago quarter.
The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
Bearing this in mind, let's now explore the average estimates of specific Commercial Metals metrics that are commonly monitored and projected by Wall Street analysts.
Based on the collective assessment of analysts, 'Net Sales- Emerging Businesses Group- Net sales from external customers' should arrive at $235.37 million. The estimate indicates a change of +48.2% from the prior-year quarter.
According to the collective judgment of analysts, 'Net sales from external customers- North America' should come in at $1.50 billion. The estimate indicates a year-over-year change of +8.3%.
Analysts' assessment points toward 'Net sales from external customers- Europe' reaching $234.14 million. The estimate indicates a year-over-year change of +18.2%.
It is projected by analysts that the 'Net sales from external customers- Corporate and Other' will reach $10.78 million. The estimate indicates a year-over-year change of +1.3%.
The consensus estimate for 'Major product- North America- Other' stands at $50.82 million. The estimate indicates a change of +5.9% from the prior-year quarter.
Analysts predict that the 'North America - Average selling price (per ton) - Raw materials' will reach $939.87 . Compared to the present estimate, the company reported $956.00 in the same quarter last year.
The average prediction of analysts places 'Europe - Steel products metal margin per ton' at $290.50 . Compared to the current estimate, the company reported $275.00 in the same quarter of the previous year.
Analysts forecast 'North America - Average selling price (per ton) - Downstream products' to reach $1243.79 . Compared to the current estimate, the company reported $1221.00 in the same quarter of the previous year.
Analysts expect 'North America - Average selling price (per ton) - Steel products' to come in at $926.49 . Compared to the current estimate, the company reported $814.00 in the same quarter of the previous year.
The consensus among analysts is that 'North America - Average selling price (per ton) - Cost of ferrous scrap utilized per ton' will reach $330.65 . Compared to the present estimate, the company reported $338.00 in the same quarter last year.
The collective assessment of analysts points to an estimated 'North America - Average selling price (per ton) - Steel products metal margin per ton' of $595.84 . The estimate compares to the year-ago value of $476.00 .
The combined assessment of analysts suggests that 'Europe - Steel products (External tons shipped)' will likely reach 343.02 thousand. The estimate compares to the year-ago value of 310.00 thousand.
View all Key Company Metrics for Commercial Metals here>>>Over the past month, shares of Commercial Metals have returned -21.6% versus the Zacks S&P 500 composite's -5.7% change. Currently, CMC carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .