07:11 AM EDT, 03/21/2024 (MT Newswires) -- Commercial Metals ( CMC ) reported fiscal Q2 adjusted earnings Thursday of $0.88 per diluted share, down from $1.44 a year earlier.

Analysts polled by Capital IQ expected $0.76.

Net sales for the quarter ended Feb. 29 were $1.85 billion, down from $2.02 billion a year ago.

Analysts surveyed by Capital IQ expected $1.81 billion.

Commercial Metals ( CMC ) said it expects adjusted earnings before interest, taxes, depreciation, and amortization to "approach" breakeven levels during Q3.

The company said its board raised its quarterly dividend by 13% to $0.18 per share, payable April 10 to stockholders of record as of April 1.

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