CMC FY 2012 Earnings Report — Commercial Metals Company Revenue & Financial Results | Market Cap Arena

Commercial Metals CompanyCMC

FY 2012 Earnings

Reported October 30, 2012

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2012	Prior Q	FY 2011	QoQ Change	YoY Change
Revenue	$7.7B	—	$7.7B	—	-0.1%
Op. Income	$235M	—	$120M	—	95.1%
Gross Margin	9.4%	—	8.2%	—	1.2pp
Net Margin	2.7%	—	-1.7%	—	4.4pp
EPS (Diluted)	$1.78	—	$-1.13	—	257.5%
Free Cash Flow	$82M	—	-$45M	—	280.7%

Revenue Flow

Item	Amount
REVENUE	$7.7B
Cost of Revenue	$6.9B
GROSS PROFIT	$717M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$482M
Other Expenses	$235M
Operating Expenses	$717M
Cost & Expenses	$7.7B
OPERATING INCOME	$235M
Interest Income	$0
Interest Expense	$69M
Other Income/Expenses	-$70M
INCOME BEFORE TAX	$165M
Income Tax Expense	-$46M
Net Income from Continuing Ops	$211M
Net Income from Discontinued Ops	-$3M
Other Adjustments	$0
NET INCOME	$207M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$207M
D&A	$137M
EBIT	$234M
EBITDA	$372M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$7.7B
Cost of Revenue	$6.9B
GROSS PROFIT	$717M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$482M
Other Expenses	$235M
Operating Expenses	$717M
Cost & Expenses	$7.7B
OPERATING INCOME	$235M
Interest Income	$0
Interest Expense	$69M
Other Income/Expenses	-$70M
INCOME BEFORE TAX	$165M
Income Tax Expense	-$46M
Net Income from Continuing Ops	$211M
Net Income from Discontinued Ops	-$3M
Other Adjustments	$0
NET INCOME	$207M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$207M
D&A	$137M
EBIT	$234M
EBITDA	$372M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$207M
Depreciation & Amortization	$137M
Stock-Based Compensation	$13M
Deferred Income Tax	-$62M
Other Non-Cash Items	-$3M
Change in Working Capital	-$97M
OPERATING CASH FLOW	$196M
Capital Expenditure	-$114M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$86M
NET CASH FROM INVESTING	-$27M
Net Debt Issuance	-$46M
Common Stock Repurchased	$0
Common Dividends Paid	-$56M
Other Financing Activities	-$20M
NET CASH FROM FINANCING	-$122M
FREE CASH FLOW	$82M
Net Change in Cash	$40M

Balance Sheet

Item	Amount
Cash & Equivalents	$262M
Short-Term Investments	$0
Net Receivables	$958M
Inventory	$808M
Other Current Assets	$211M
TOTAL CURRENT ASSETS	$2.2B
PP&E (Net)	$994M
Goodwill	$77M
Intangible Assets	$25M
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$105M
TOTAL NON-CURRENT ASSETS	$1.2B
TOTAL ASSETS	$3.4B
Account Payables	$529M
Short-Term Debt	$29M
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$901M
Long-Term Debt	$1.2B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$20M
Other Non-Current Liabilities	$116M
TOTAL NON-CURRENT LIABILITIES	$1.3B
TOTAL LIABILITIES	$2.2B
Common Stock	$1M
Additional Paid-In Capital	$366M
Retained Earnings	$1.1B
Treasury Stock	-$248M
Accum. Other Comp. Income	-$18M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.2B
Minority Interest	$139.0K
TOTAL EQUITY	$1.2B
TOTAL LIABILITIES & EQUITY	$3.4B
Total Debt	$1.2B
Net Debt	$923M