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What: Commercial Metals
So what: Non-GAAP EPS of $0.32 trounced the consensus estimate of $0.20. GAAP EPS was $0.31. Revenue of $2.1 billion grew 18% and was in line with the consensus forecast.
Now what: The company benefited from both stronger demand and higher finished goods pricing. Management said the backlog continues to grow at higher pricing and it remains focused on improving operational efficiency. Although the current quarter is seasonally slower, it appears the company may have turned a corner after nine challenging quarters.
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Fool contributor Cindy Johnson does not own shares of any company named above. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.