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Commercial Metals (CMC) to Report Q1 Earnings: What's in Store?
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Commercial Metals Company (CMC - Free Report) is scheduled to report first-quarter fiscal 2022 results on Jan 10, before the opening bell.
Which Way are the Estimates Headed?
The Zacks Consensus Estimate for the fiscal first-quarter revenues is pinned at $2.05 billion, suggesting growth of 47.3% from the prior-year quarter’s levels. The Zacks Consensus Estimate for earnings per share is pegged at $1.30 for the quarter, indicating a year-over-year increase of 124.1%.
Q4 Performance
In the last reported quarter, the company’s earnings and revenues increased year on year but missed the respective Zacks Consensus Estimates. Commercial Metals has a trailing four-quarter earnings surprise of 7.41%, on average.
What Does Our Model Indicates?
Our proven model doesn’t conclusively predicts an earnings beat for Commercial Metals this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold), increases the chances of an earnings beat. But that’s not the case here.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP: The Earnings ESP for Commercial Metals is 0.00%.
Commercial Metals is likely to have benefited from robust demand for steel products, driven by the solid construction and infrastructure activity during the fiscal first quarter. The North America and Europe segment are likely to have benefited from strong construction activities, driving demand for rebar, merchant bar and wire rod products as well as a surge in new residential construction work. These trends are likely to have supported the finished steel shipment volumes in North America and Europe during the fiscal first quarter.
Commercial Metals’ margin is anticipated to have benefited from high steel prices owing to the upsurge in demand across the major end-use markets. The company’s network-optimization efforts and cost-reduction initiatives are likely to have contributed to margin performance during the quarter under review. The company has been implementing price rise across its mill products in response to the rapidly-rising scrap costs.
Price Performance
Commercial Metals’ shares have appreciated 62.9% in the past year compared with the industry’s growth of 26.4%.
Image Source: Zacks Investment Research
Stocks Worth a Look
Here are some stocks worth considering as these have the right combination of elements to post an earnings beat this quarter.
Acuity Brands, Inc. (AYI - Free Report) currently has an Earnings ESP of +3.52% and a Zacks Rank of 2. The Zacks Consensus Estimate for first-quarter fiscal 2022 earnings has moved up 0.4% in the past 30 days to $2.37 per share, suggesting year-over-year growth of 16.7%.
The Zacks Consensus Estimate for quarterly revenues is pegged at $896 million, which indicates an improvement of 13% from the prior-year quarter’s levels. Acuity Brands has a trailing four-quarter earnings surprise of 18.3%, on average.
Keysight Technologies, Inc. (KEYS - Free Report) currently has an Earnings ESP of +0.26% and a Zacks Rank of 2. The Zacks Consensus Estimate for first-quarter fiscal 2022 earnings has moved up 1.3% in the past 60 days to $1.56 per share, suggesting 9% growth from the year-ago quarter’s tally.
The Zacks Consensus Estimate for quarterly revenues is pegged at $1.24 billion, which indicates an improvement of 5.3% from the prior-year quarter’s tally. Keysight has a trailing four-quarter earnings surprise of 7.08%, on average.
Macy's, Inc. (M - Free Report) currently has an Earnings ESP of +1.93% and a Zacks Rank of 3. The Zacks Consensus Estimate for fourth-quarter 2021 earnings has moved up 5.5% in the past 60 days to $1.92 per share, indicating 140% growth from the year-ago quarter’s figure.
The Zacks Consensus Estimate for quarterly revenues is pegged at $8.4 billion, which indicates a year-over-year improvement of 24.3%. Macy's has a trailing four-quarter earnings surprise of 313.5%, on average.
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Commercial Metals (CMC) to Report Q1 Earnings: What's in Store?
Commercial Metals Company (CMC - Free Report) is scheduled to report first-quarter fiscal 2022 results on Jan 10, before the opening bell.
Which Way are the Estimates Headed?
The Zacks Consensus Estimate for the fiscal first-quarter revenues is pinned at $2.05 billion, suggesting growth of 47.3% from the prior-year quarter’s levels. The Zacks Consensus Estimate for earnings per share is pegged at $1.30 for the quarter, indicating a year-over-year increase of 124.1%.
Q4 Performance
In the last reported quarter, the company’s earnings and revenues increased year on year but missed the respective Zacks Consensus Estimates. Commercial Metals has a trailing four-quarter earnings surprise of 7.41%, on average.
What Does Our Model Indicates?
Our proven model doesn’t conclusively predicts an earnings beat for Commercial Metals this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold), increases the chances of an earnings beat. But that’s not the case here.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP: The Earnings ESP for Commercial Metals is 0.00%.
Zacks Rank: Commercial Metals currently flaunts a Zacks Rank of 1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Commercial Metals Company Price and EPS Surprise
Commercial Metals Company price-eps-surprise | Commercial Metals Company Quote
Key Factors
Commercial Metals is likely to have benefited from robust demand for steel products, driven by the solid construction and infrastructure activity during the fiscal first quarter. The North America and Europe segment are likely to have benefited from strong construction activities, driving demand for rebar, merchant bar and wire rod products as well as a surge in new residential construction work. These trends are likely to have supported the finished steel shipment volumes in North America and Europe during the fiscal first quarter.
Commercial Metals’ margin is anticipated to have benefited from high steel prices owing to the upsurge in demand across the major end-use markets. The company’s network-optimization efforts and cost-reduction initiatives are likely to have contributed to margin performance during the quarter under review. The company has been implementing price rise across its mill products in response to the rapidly-rising scrap costs.
Price Performance
Commercial Metals’ shares have appreciated 62.9% in the past year compared with the industry’s growth of 26.4%.
Stocks Worth a Look
Here are some stocks worth considering as these have the right combination of elements to post an earnings beat this quarter.
Acuity Brands, Inc. (AYI - Free Report) currently has an Earnings ESP of +3.52% and a Zacks Rank of 2. The Zacks Consensus Estimate for first-quarter fiscal 2022 earnings has moved up 0.4% in the past 30 days to $2.37 per share, suggesting year-over-year growth of 16.7%.
The Zacks Consensus Estimate for quarterly revenues is pegged at $896 million, which indicates an improvement of 13% from the prior-year quarter’s levels. Acuity Brands has a trailing four-quarter earnings surprise of 18.3%, on average.
Keysight Technologies, Inc. (KEYS - Free Report) currently has an Earnings ESP of +0.26% and a Zacks Rank of 2. The Zacks Consensus Estimate for first-quarter fiscal 2022 earnings has moved up 1.3% in the past 60 days to $1.56 per share, suggesting 9% growth from the year-ago quarter’s tally.
The Zacks Consensus Estimate for quarterly revenues is pegged at $1.24 billion, which indicates an improvement of 5.3% from the prior-year quarter’s tally. Keysight has a trailing four-quarter earnings surprise of 7.08%, on average.
Macy's, Inc. (M - Free Report) currently has an Earnings ESP of +1.93% and a Zacks Rank of 3. The Zacks Consensus Estimate for fourth-quarter 2021 earnings has moved up 5.5% in the past 60 days to $1.92 per share, indicating 140% growth from the year-ago quarter’s figure.
The Zacks Consensus Estimate for quarterly revenues is pegged at $8.4 billion, which indicates a year-over-year improvement of 24.3%. Macy's has a trailing four-quarter earnings surprise of 313.5%, on average.