for a around second you quarter review CMC's and and more the the outbreak. a fiscal few call will And I the to Paul information discussion for provide in I'll with then will questions. company's for to before XXXX. quarter call opening call our detail. joining quarterly the the thank the Covid-XX financial the begin second brief regarding morning actions to Lawrence highlights closing exposure of remarks and cover Good results
Given the Covid-XX uncertainty heightened not outbreak forward-looking commentary. level of and by be caused the providing earnings we policy any will economic
earnings XXXX from reported morning, in continuing or we operations $XX.X released earnings net $X.X this diluted $X.XX share second quarter billion. our of fiscal announced As sales of on per
out As there our adjusted call were were from to $XX.X charges continuing earnings this no million. credits or also operations quarter,
our company's portfolio years great employed. achievement generate higher earn highlighted realigned actions transformational our margin The our period several result returns dollar The over to this another of second we taken the being weakest for of quarter last dollar each entire sales have second-highest best on history. each more capital seasonally by adjusted the CMC results and strong generated team despite EBITDA have on delivered the we in the
Our efforts United robust environment supportive construction to date activity the Europe. with have been market both and Eastern further bolstered States by in a
our provides enhancing our capital to manage today's uncertain us cycle through and through flexibility addition repositioned capabilities, to flow cash In structure environment. earnings the
and our spend our us this to oversee our we as SIOP us targeted have Sales, bar help of and to the focus area some moments a like in is our toward opportunities production now strategic This initiative this market. Gerdau's role and few that arise they mix for initiatives market. participation results. of our operations will initiatives, optimize unlocked legacy the Planning directs with to would in of efforts, I and MVQ management participation cost. new drive will There To on growth or he rebar been product position production senior all functions an our the plant mills has to capitalize along The on across mills across this of further through organization further reduce redirect allow logistics the and Operations marketplace. flexibility have in on products growth runway has our acquisition assets increase Americas. the created continue allowed steadily optimization Inventory we and we a to pursue Merchant
already We've million supply third over now save permits benefits required rolling underway. recent from in action an shutter and on Poland decision our basis. We optimization on received continues. We've some location. other the captured melt the Cucamonga alone shop construction through will Rancho to this and our Progress annual us is billets mill estimate $XX
and of melting at Our excess expand XXXX. remains startup portfolio or our take capacity further value-added of advantage capability products. targeted late fiscal will This expansion
products, gain to topic spooling quarter marketplace. the year adoption second the justifying the doubled in technology. our expected with in in consistent a continues value-added On from we of ground our Volumes investments ago spools rate when the rebar
In dividend on release, common to micro As press have mills Arizona CMC Board in reduces a rapid Also second of that reduced adjusted quarterly and close a costs capability. fabrication of coil face reminder, our stockholders a quality our per Oklahoma and X, compared of higher market of debt in of operating target produced both for spool excellent declared shops. trailing the further recent turbulence. position assets Gerdau's April cash gross micro spooling Xx stock we of since as balance share +rebar EBITDA. and best $X.XX waste debt our our XXXX. of puts The delevering rebar leverage noted product outstanding mills of standard to the reached our the It levels in of the is sheet in acquisition us is Directors and our quarter, the record at stated
This will The dividend. on CMC's XXXX. be XXX represents April XXth, consecutive paid dividend quarterly
response to to a comments few like outbreak. and the regarding Now exposure CMC's provide I'd Covid-XX
designated as and Department our as is with families BMC top most First Homeland infrastructure a by of guidelines president end, and recent the duty guidelines for published adhering critical of welfare Security to are priorities. a foremost we industry to always and ensuring operations. the health maintain our workforce To as normal is coronavirus from America. that their the defined
suspended with offices. We schedule governmental production we our relevant asked possible the other guidelines, avoid operations guidelines implemented wherever home and keeping following sites are also rotating our the large air from have a to polish to travel, work In gatherings. and foreign
all work We measures infection sites. implemented control our at have
also the encouraging to all hygiene, concern. rapidly presents as We practice and good unprecedented environment their are and instance employees evolving and medical virus challenges. as unique at well This of for families attention themselves monitor seek first
all to our be we the parties actions to managing within factors potential disruptive subject to that are outside control; are have We government our authorities of however, the the particularly business.
situation at plans have but respond operating and the changes. or place we this point remains disruption dynamic We have seen measurable no in to these shipping to
domestic locations. CMC's back Turning our facilities and footprint unaffected continue aspects our those from of react event provides to that us to in control, flexibility the customers of a one the our serving are expanded quickly under disruption of business at
Our new SOI centralized in making adjustments. be instrumental functions these will rapid
also or continually analyzed have The We and any are the inputs. situations our monitoring facing shortages supply and US critical we and parts not conditions. Poland in imminent of are we fluid chain are
employees. respond arise gather regularly and is our provide to Our our information footprint, operational senior across management issues they to from to as meeting communications team
of exposure CMC investor direct oil Covid-XX, little weighed on turmoil confidence. oil has has markets. our sales the and Outside markets in to also global gas
internal remained like not a has metal Fabrication but very by levels. I work in activity our The key backlog providing bidding and fabrication to offer is solid are standards outlet we an strong. will As I be historical on attractive regarding that comments few mentioned, would volume metrics. current previously margins at earnings
second Our recent six bookings by good. that our or reminder, our rate historical and at as are exited above averages. generally has Metal in the been margins months duration within longer cycle also the quarter majority of segment construction are mill pre-funded. Also levels is driven projects Americas business a
abate. activity well We current eventual believe normalization the business of this position the CMC once crisis for
the that Paul is the over now to an Financial some Chief will provide overview. So results more the turn on President quarter. for and Vice Officer I comments to Lawrence, discussion
