11:07 AM EDT, 06/23/2025 (MT Newswires) -- Commercial Metals' ( CMC ) fiscal third-quarter results fell more than expected, weighed down by a drop in North American steel revenue.

The metal product manufacturer's adjusted earnings fell to $0.74 a share for the quarter ended May 31 from $1.02 a year earlier, below the FactSet-polled consensus of $0.85. Sales decreased to $2.02 billion from $2.08 billion last year, trailing analysts' $2.04 billion view.

Revenue from the North America steel group segment edged down to $1.56 billion from $1.67 billion. Shipment volumes of finished steel increased 1.6%.

European steel sales rose to $247.6 million from $208.8 million last year.

The company's performance, however, improved from the second quarter amid "better market conditions across each of our segments," Chief Executive Peter Matt said in statement.

Commercial Metals ( CMC ) expects its fourth-quarter results to improve sequentially as "finished steel shipments within the North America steel group are anticipated to follow normal seasonal trends," Matt said.

"The impact of our strategic efforts should be further magnified by powerful structural trends within our key end markets related to infrastructure investment, reshoring, artificial intelligence, energy transition and generation growth, and the need to address our nation's housing shortage," he said.

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