Schnitzer Steel (SCHN) Misses Q1 EPS by 13c
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Schnitzer Reports First Quarter 2016 Financial Results
January 7, 2016 8:30 AM ESTPositive Segment Operating Performance and Strong Operating Cash Flow
PORTLAND, Ore.--(BUSINESS WIRE)-- Schnitzer Steel Industries, Inc. (NASDAQ: SCHN) today reported financial results for its fiscal 2016 first quarter ended November 30, 2015. Both operating divisions, Auto and Metals Recycling (AMR) and Steel Manufacturing Business (SMB), generated positive operating income in the first quarter due to contributions from cost reduction and productivity initiatives which offset the margin compression caused by the sharp decline in market selling prices and volumes during the quarter. The Company generated quarterly operating cash... More
