Schnitzer Steel Industries (SCHN) Tops Q4 EPS Views; Raises Buyback to 4.7M Shares

November 7, 2006 8:35 AM EST
Schnitzer Steel Industries Inc. (Nasdaq: SCHN) reports Q4 EPS of $1.58, ex-items, versus the consensus of $1.26. Revenues came in at $605 million versus the consensus of $579.25 million.

The Company announced today that its Board of Directors has approved the repurchase of up to 4.7 million shares, or 15% of the total shares outstanding. The Company had 1.7 million shares remaining under previous Board approvals. The Board has increased that authority by 3.0 million shares.

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