CMC shares rise 3% on fourth quarter earnings beat

Commercial Metals Company (CMC) reported a strong fourth quarter earnings beat with adjusted earnings per share of $2.09, surpassing analyst estimates of $1.96. The steel and construction solutions provider's shares rose 2.77% in pre-market trading, with revenue increasing 25.7% year-over-year to $2.65 billion. CMC's President and CEO, Peter Matt, attributed the positive results to strong execution in the North American steel franchise and continued momentum of enterprise-wide TAG benefits.

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