Commercial Metals Q2 Results Top Estimates; Boosts Dividend 14%
(RTTNews) - Commercial Metals Co. (CMC) on Monday reported that net earnings for the second quarter more than halved to $179.85 million or $1.51 per share from $383.31 million or $3.12 per share in the prior-year quarter.
Net sales for the quarter edged up to $2.02 billion from $2.01 billion in the same quarter last year.
On average, analysts polled by Thomson Reuters expected the company to report earnings of $1.44 per share on revenues of $1.97 billion for the quarter. Analysts' estimates typically exclude special items.
On Wednesday, the board of directors declared a 14 percent higher quarterly dividend of $0.16 per share of CMC common stock, payable on April 12, 2023 to stockholders of record on April 3, 2023.
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