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Earnings are expected to fall significantly year-over-year, potentially disappointing investors. Historical cases show such declines can lead to bearish market responses.
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CMC expects Q3 earnings of 84 cents per share, down from $1.02. Projected revenue for CMC is $2.04 billion, a slight decline year-over-year. Second-quarter results matched analyst expectations, with sales down 5.1%. Analyst ratings show mixed sentiment, with one upgrade and several lowered targets. Shares of CMC recently rose by 0.2%, closing at $49.04.
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