COMMERCIAL METALS Co
For the period ended Feb 29, 2024. Filed Mar 26, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Feb 29, 2024 · Filed Mar 26, 2024
CMC$64.24-0.2%Stored close · as of Nov 10, 2026
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Item 1. Financial Statements
| COMMERCIAL METALS COMPANY AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (UNAUDITED) | ||||
|---|---|---|---|---|
| Three Months Ended | Six Months Ended | |||
| (in thousands, except share and per share data) | February 29, 2024 | February 28, 2023 | February 29, 2024 | February 28, 2023 |
| Net sales | $1,848,287 | $2,018,003 | $3,851,338 | $4,245,316 |
| Costs and operating expenses: | ||||
| Cost of goods sold | 1,552,046 | 1,621,763 | 3,156,114 | 3,341,177 |
| Selling, general and administrative expenses | 167,444 | 150,805 | 329,976 | 307,160 |
| Interest expense | 11,878 | 9,945 | 23,634 | 22,990 |
| Net costs and operating expenses | 1,731,368 | 1,782,513 | 3,509,724 | 3,671,327 |
| Earnings before income taxes | 116,919 | 235,490 | 341,614 | 573,989 |
| Income taxes | 31,072 | 55,641 | 79,494 | 132,366 |
| Net earnings | $85,847 | $179,849 | $262,120 | $441,623 |
| Earnings per share: | ||||
| Basic | $0.74 | $1.53 | $2.25 | $3.77 |
| Diluted | 0.73 | 1.51 | 2.22 | 3.71 |
| Average basic shares outstanding | 116,396,530 | 117,224,517 | 116,584,235 | 117,249,266 |
| Average diluted shares outstanding | 117,524,113 | 118,723,259 | 118,051,249 | 118,985,098 |
| COMMERCIAL METALS COMPANY AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) | ||||
|---|---|---|---|---|
| Three Months Ended | Six Months Ended | |||
| (in thousands) | February 29, 2024 | February 28, 2023 | February 29, 2024 | February 28, 2023 |
| Net earnings | $85,847 | $179,849 | $262,120 | $441,623 |
| Other comprehensive income (loss), net of income taxes: | ||||
| Foreign currency translation adjustments | 1,341 | 11,628 | 24,834 | 53,057 |
| Derivatives: | ||||
| Net unrealized holding gain (loss) | (47,924) | 23,957 | (90,869) | 92,002 |
| Reclassification for realized gain | (189) | (863) | (1,688) | (7,833) |
| Net unrealized gain (loss) on derivatives | (48,113) | 23,094 | (92,557) | 84,169 |
| Defined benefit plans gain (loss) after amortization of prior service costs | (9) | (37) | (18) | 1,721 |
| Total other comprehensive income (loss), net of income taxes | (46,781) | 34,685 | (67,741) | 138,947 |
| Comprehensive income | $39,066 | $214,534 | $194,379 | $580,570 |
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