CMC swings to loss after restructuring

Oct 28, 2011 | 06:04 PM | Lisa Gordon

Tags  rebar, steel, Commercial Metals, Joe Alvarado, Lisa Gordon

PITTSBURGH — Restructuring charges from closing a half dozen assets pushed Commercial Metals Co. into the red this past quarter, but the company said the move will increase its profitability and balance sheet going forward.

The Irving, Tex.-based steel producer reported a net loss of $120.3 million on $2.27 billion in sales for its fourth quarter ended Aug. 31. This compares with net earnings of $8 million on net sales of $1.82 billion for....





Latest Pricing Trends

Poll

Are you stocking more inventory today than 18 months ago?

Yes
No


View previous results