Schnitzer Steel (SCHN) Tops Q2 EPS by 1c

Schnitzer Steel (NASDAQ: SCHN) reported Q2 EPS of ($0.25), $0.01 better than the analyst estimate of ($0.26). Revenue for the quarter came in at $289 million versus the consensus estimate of $321.51 million.

Third Quarter Outlook

Although markets remain volatile, for the third quarter, the Company currently anticipates ferrous sales volumes to increase approximately 10% sequentially, subject to timing of shipments. As a result, AMR’s operating income for the third quarter of fiscal 2016 is expected to be approximately double the adjusted operating income in the third quarter of fiscal 2015 of $5.5 million, reflecting stronger ferrous sales prices and retail activity compared to the second quarter, benefits from higher cost savings and no material impact from average inventory accounting. SMB is expected to deliver positive operating income on higher sales volumes and additional cost reductions.

For earnings history and earnings-related data on Schnitzer Steel (SCHN) click here.

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Silexion Therapeutics (SLXN) Tops Q2 EPS by 793c
• Outlook Therapeutics (OTLK) Misses Q3 EPS by 9c