The Company's calculation of basic earnings (loss) per share ("EPS") and diluted EPS is described in Note 16, Earnings Per Share, to the Company's consolidated financial statements in the 2025 Form 10-K.


	Three Months Ended May 31,				Nine Months Ended May 31,
(in thousands, except share and per share data)	2026		2025		2026		2025
Net earnings (loss)	$	173,015	$	83,126	$	443,329	$	(67,119)

Average basic shares outstanding	110,845,841		112,700,136		110,955,940		113,437,950
Effect of dilutive securities	869,039		859,320		1,023,550		—
Average diluted shares outstanding	111,714,880		113,559,456		111,979,490		113,437,950

Earnings (loss) per share:
Basic	$	1.56	$	0.74	$	4.00	$	(0.59)
Diluted	1.55		0.73		3.96		(0.59)

For all periods presented except for the nine months ended May 31, 2025, the Company had immaterial anti-dilutive shares, which were not included in the computation of average diluted shares outstanding. For the nine months ended May 31, 2025, the Company had 1,134,029 shares that were excluded from the computation of average diluted shares outstanding due to the Company's net loss position.

During the three and nine months ended May 31, 2026, the Company repurchased 283,335 and 1,195,709 shares of CMC common stock, respectively, at an average purchase price of $66.72 and $63.65 per share, respectively. Under the share repurchase program, the Company had remaining authorization to repurchase $128.9 million of shares of CMC common stock as of May 31, 2026. See Note 15, Capital Stock, to the Company's consolidated financial statements in the 2025 Form 10-K, for more information on the share repurchase program.