Last10K.com

Commercial Metals Co (CMC) SEC Filing 10-K Annual report for the fiscal year ending Friday, August 31, 2018

Commercial Metals Co

CIK: 22444 Ticker: CMC

Exhibit No. 99.1

News Release newsreleaselogoa01a04a04.jpg


COMMERCIAL METALS COMPANY REPORTS FOURTH QUARTER EARNINGS FROM CONTINUING OPERATIONS OF $0.43 PER SHARE AND ADJUSTED EARNINGS FROM CONTINUING OPERATIONS OF $0.51 PER SHARE

Irving, TX - October 25, 2018 - Commercial Metals Company (NYSE: CMC) today announced financial results for its fiscal fourth quarter and year ended August 31, 2018. For the three months ended August 31, 2018, earnings from continuing operations were $51.3 million, or $0.43 per diluted share, on net sales of $1.3 billion, compared to a net loss from continuing operations of $10.1 million, or $0.09 per diluted share, on net sales of $1.1 billion for the three months ended August 31, 2017.

Fourth quarter results include after-tax expenses of $8.6 million related to the announced acquisition of certain rebar assets from Gerdau S.A.. Excluding these expenses, adjusted earnings from continuing operations were $59.9 million, or $0.51 per diluted share, as detailed in the non-GAAP reconciliation on page 12, compared to adjusted earnings from continuing operations of $6.8 million, or $0.06 per diluted share, for the three months ended August 31, 2017.

    For the fiscal year ended August 31, 2018, earnings from continuing operations were $135.2 million, or $1.14 per diluted share, on net sales of $4.6 billion. This compares to earnings from continuing operations of $50.2 million, or $0.43 per diluted share, on net sales of $3.8 billion for the fiscal year ended August 31, 2017. Adjusted earnings from continuing operations for the fiscal year ended August 31, 2018 were $176.1 million, or $1.49 per diluted share, which was a 163% increase compared to $67.0 million, or $0.57 per diluted share, in the prior year.

Barbara R. Smith, Chairman of the Board, President and Chief Executive Officer, commented, "I am proud of what our team has accomplished during fiscal 2018. In addition to delivering our best financial results since the Great Recession, we also completed construction and commissioning of our second micro mill in Durant, OK, becoming the first producer of hot spooled rebar in the United States. We also had record levels of shipments of steel products from our operations in the U.S. and Poland and achieved our lowest safety incident rate in the history of CMC."

The Company's liquidity position at August 31, 2018 remained strong with cash and cash equivalents of $622.5 million and availability under the Company's credit and accounts receivable sales facilities of $617.8 million.




The following information was filed by Commercial Metals Co (CMC) on Thursday, October 25, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Commercial Metals Co's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Commercial Metals Co.

Continue

Assess how Commercial Metals Co's management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Commercial Metals Co's Definitive Proxy Statement (Form DEF 14A) filed after their 2018 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

SEC Filing Tools

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statement Of Cash Flows (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Earnings
Consolidated Statements Of Stockholders' Equity
Consolidated Statements Of Stockholders' Equity (Parenthetical)
Accrued Expenses And Other Payables
Accrued Expenses And Other Payables (Details)
Accrued Expenses And Other Payables (Tables)
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) (Aoci By Components) (Details)
Accumulated Other Comprehensive Income (Loss) (Reclassification Out Of Accumulated Other Comprehensive Income (Loss)) (Details)
Accumulated Other Comprehensive Income (Loss) (Tables)
Business Segments
Business Segments (External Net Sales From Continuing Operations By Geographic Area) (Details)
Business Segments (External Net Sales From Continuing Operations By Major Product) (Details)
Business Segments (Long-Lived Assets By Geographic Area) (Details)
Business Segments (Narrative) (Details)
Business Segments (Reconciliations Of Earnings From Continuing Operations To Adjusted Operating Profit) (Details)
Business Segments (Summary Of Certain Financial Information From Continuing Operations By Reportable Segment) (Details)
Business Segments (Tables)
Capital Stock
Capital Stock (Narrative) (Details)
Changes In Business
Changes In Business (Businesses Held For Sale) (Details)
Changes In Business (Financial Information For Discontinued Operations) (Details)
Changes In Business (Narrative) (Details)
Changes In Business (Tables)
Commitments And Contingencies
Commitments And Contingencies (Minimum Lease Commitments Payable For Noncancelable Operating Leases) (Details)
Commitments And Contingencies (Narrative) (Details)
Commitments And Contingencies (Tables)
Credit Arrangements
Credit Arrangements (Long-Term Debt) (Details)
Credit Arrangements (Narrative) (Details)
Credit Arrangements (Scheduled Maturities Of Long-Term Debt) (Details)
Credit Arrangements (Tables)
Derivatives And Risk Management
Derivatives And Risk Management (Derivative Assets) (Details)
Derivatives And Risk Management (Derivative Liabilities) (Details)
Derivatives And Risk Management (Derivatives Designated As Fair Value Hedging Instruments) (Details)
Derivatives And Risk Management (Derivatives Not Designated As Hedging Instruments) (Details)
Derivatives And Risk Management (Effective Portion Of Derivatives Designated As Cash Flow Hedging Instruments Recognized In Accumulated Other Comprehensive Income (Loss)) (Details)
Derivatives And Risk Management (Narrative) (Details)
Derivatives And Risk Management (Tables)
Derivatives And Risk Management - Commodity Contract Commitments (Details)
Earnings Per Share
Earnings Per Share (Calculations Of Basic And Diluted Earnings Per Share) (Details)
Earnings Per Share (Tables)
Employees' Retirement Plans
Employees' Retirement Plans (Narrative) (Details)
Exit Costs
Exit Costs (Narrative) (Details)
Fair Value
Fair Value (Financial Assets And Financial Liabilities Measured At Fair Value On Recurring Basis) (Details)
Fair Value (Narrative) (Details)
Fair Value (Tables)
Fair Value Fair Value (Financial Assets And Liabilities Not Required To Be Measured At Fair Value) (Details)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (Changes In The Carrying Amount Of Goodwill) (Details)
Goodwill And Other Intangible Assets (Estimated Future Amortization Expense) (Details)
Goodwill And Other Intangible Assets (Intangible Assets) (Details)
Goodwill And Other Intangible Assets (Narrative) (Details)
Goodwill And Other Intangible Assets (Tables)
Income Tax
Income Tax (Components Of Earnings From Continuing Operations Before Income Taxes) (Details)
Income Tax (Deferred Tax Assets And Liabilities) (Details)
Income Tax (Income Taxes Included In The Consolidated Statements Of Operations) (Details)
Income Tax (Narrative) (Details)
Income Tax (Reconciliation Of Federal Statutory Rate To Effective Tax Rate From Continuing Operations) (Details)
Income Tax (Tables)
Income Tax (Unrecognized Tax Benefits) (Details)
Inventories
Inventories (Narrative) (Details)
Long-Lived Asset Impairments
Long-Lived Asset Impairments Long-Lived Asset Impairments (Details)
Nature Of Operations
Nature Of Operations (Narrative) (Details)
New Markets Tax Credit Transactions
New Markets Tax Credit Transactions (Details)
New Markets Tax Credit Transactions New Markets Tax Credit Transactions (Tables)
Quarterly Financial Data (Unaudited)
Quarterly Financial Data (Unaudited) (Details)
Quarterly Financial Data (Unaudited) (Tables)
Sales Of Accounts Receivable
Sales Of Accounts Receivable (Activity Of The Deferred Purchase Price Receivables) (Details)
Sales Of Accounts Receivable (Activity Of The Deferred Purchase Price Receivables) (Tables)
Sales Of Accounts Receivable (Narrative) (Details)
Schedule Ii ??? Valuation And Qualifying Accounts And Reserves
Schedule Ii ??? Valuation And Qualifying Accounts And Reserves (Details)
Schedule Ii ??? Valuation And Qualifying Accounts And Reserves (Narrative) (Details)
Stock-Based Compensation Plans
Stock-Based Compensation Plans (Combined Activity For Stock Appreciation Rights And Stock Options Excluding The Cash Component) (Details)
Stock-Based Compensation Plans (Information Related To Stock Appreciation Rights And Stock Options) (Details)
Stock-Based Compensation Plans (Narrative) (Details)
Stock-Based Compensation Plans (Restricted Stock Awards And Performance Stock Units Excluding The Cash Component) (Details)
Stock-Based Compensation Plans (Stock-Based Awards Granted) (Details)
Stock-Based Compensation Plans (Tables)
Stock-Based Compensation Plans (Yearly Activity Of Stock Purchase Plan) (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Estimated Useful Lives Of Property, Plant And Equipment) (Details)
Summary Of Significant Accounting Policies (Narrative) (Details)
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Ticker: CMC
CIK: 22444
Form Type: 10-K Annual Report
Accession Number: 0000022444-18-000035
Submitted to the SEC: Thu Oct 25 2018 1:06:19 PM EST
Accepted by the SEC: Thu Oct 25 2018
Period: Friday, August 31, 2018
Industry: Steel Works Blast Furnaces And Rolling Mills Coke Ovens

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/cmc/0000022444-18-000035.htm