CMC net income falls as steel shipments, prices drop

Mar 28, 2013 | 09:37 AM | Samuel Frizell

Tags  Commercial Metals Co., scrap sales, rebar, structural, net sales, earnings, Architecture Billings Index, Samuel Frizell

NEW YORK — Commercial Metals Co. (CMC) saw a sharp decrease in profits in its fiscal second-quarter 2013 on the back of slower U.S. scrap and steel business activity, but the company expects to see a pickup in domestic business in the second half.

The Irving, Texas-based steelmaker’s net income fell 84.1 percent year over year to $4.6 million in the three months ended Feb. 28 on revenues that declined to $1.73 billion vs. $1.96 billion in the same quarter of 2012.....

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