Commercial Metals Company 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 on net sales of $1.3 billion, compared to a net loss from continuing operations of $10.1 million on net sales of $1.1 billion for the three months ended August 31, 2017.
For the fiscal year ended August 31, 2018, earnings from continuing operations were $135.2 million on net sales of $4.6 billion. This compares to earnings from continuing operations of $50.2 million on net sales of $3.8 billion for the fiscal year ended August 31, 2017.
The company’s Americas Recycling segment recorded adjusted EBITDA of $17.0 million for the fourth quarter of fiscal 2018, compared to adjusted EBITDA of $8.8 million for the fourth quarter of fiscal 2017.
The Americas Mills segment recorded adjusted EBITDA of $106.8 million for the fourth quarter of fiscal 2018, an increase of 142 percent compared to adjusted EBITDA of $44.2 million for the fourth quarter of fiscal 2017.
The Americas Fabrication segment recorded an adjusted EBITDA loss of $24.6 million for the fourth quarter of fiscal 2018, compared to adjusted EBITDA of $1.2 million for the fourth quarter of fiscal 2017.
As for an outlook, the company said in a statement, “Our outlook for the coming months remains very positive as we believe the current demand for construction steel will be sustained.”