CMC FY 2013 Earnings Report — Commercial Metals Company Revenue & Financial Results | Market Cap Arena

Commercial Metals CompanyCMC

FY 2013 Earnings

Reported October 28, 2013

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2013	Prior Q	FY 2012	QoQ Change	YoY Change
Revenue	$6.6B	—	$7.7B	—	-13.8%
Op. Income	$210M	—	$235M	—	-10.8%
Gross Margin	9.8%	—	9.4%	—	0.5pp
Net Margin	1.2%	—	2.7%	—	-1.5pp
EPS (Diluted)	$0.66	—	$1.78	—	-62.9%
Free Cash Flow	$59M	—	$82M	—	-28.5%

Revenue Flow

Item	Amount
REVENUE	$6.6B
Cost of Revenue	$6.0B
GROSS PROFIT	$649M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$440M
Other Expenses	$210M
Operating Expenses	$649M
Cost & Expenses	$6.6B
OPERATING INCOME	$210M
Interest Income	$0
Interest Expense	$68M
Other Income/Expenses	-$47M
INCOME BEFORE TAX	$163M
Income Tax Expense	$58M
Net Income from Continuing Ops	$105M
Net Income from Discontinued Ops	-$27M
Other Adjustments	$0
NET INCOME	$77M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$77M
D&A	$137M
EBIT	$231M
EBITDA	$368M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$6.6B
Cost of Revenue	$6.0B
GROSS PROFIT	$649M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$440M
Other Expenses	$210M
Operating Expenses	$649M
Cost & Expenses	$6.6B
OPERATING INCOME	$210M
Interest Income	$0
Interest Expense	$68M
Other Income/Expenses	-$47M
INCOME BEFORE TAX	$163M
Income Tax Expense	$58M
Net Income from Continuing Ops	$105M
Net Income from Discontinued Ops	-$27M
Other Adjustments	$0
NET INCOME	$77M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$77M
D&A	$137M
EBIT	$231M
EBITDA	$368M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$77M
Depreciation & Amortization	$137M
Stock-Based Compensation	$19M
Deferred Income Tax	$56M
Other Non-Cash Items	-$8M
Change in Working Capital	-$133M
OPERATING CASH FLOW	$148M
Capital Expenditure	-$89M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$29M
Other Investing Activities	$14M
NET CASH FROM INVESTING	-$46M
Net Debt Issuance	$125M
Common Stock Repurchased	$0
Common Dividends Paid	-$56M
Other Financing Activities	-$54M
NET CASH FROM FINANCING	$15M
FREE CASH FLOW	$59M
Net Change in Cash	$116M

Balance Sheet

Item	Amount
Cash & Equivalents	$379M
Short-Term Investments	$0
Net Receivables	$990M
Inventory	$757M
Other Current Assets	$240M
TOTAL CURRENT ASSETS	$2.4B
PP&E (Net)	$940M
Goodwill	$70M
Intangible Assets	$20M
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$99M
TOTAL NON-CURRENT ASSETS	$1.1B
TOTAL ASSETS	$3.5B
Account Payables	$343M
Short-Term Debt	$11M
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$781M
Long-Term Debt	$1.3B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$47M
Other Non-Current Liabilities	$118M
TOTAL NON-CURRENT LIABILITIES	$1.4B
TOTAL LIABILITIES	$2.2B
Common Stock	$1M
Additional Paid-In Capital	$364M
Retained Earnings	$1.2B
Treasury Stock	-$235M
Accum. Other Comp. Income	-$27M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.3B
Minority Interest	$156.0K
TOTAL EQUITY	$1.3B
TOTAL LIABILITIES & EQUITY	$3.5B
Total Debt	$1.3B
Net Debt	$911M