Schnitzer Steel (SCHN) Tops Q2 EPS by 1c
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Schnitzer Reports Second Quarter 2016 Financial Results and Third Quarter Outlook
April 6, 2016 8:02 AM EDTPORTLAND, Ore.--(BUSINESS WIRE)-- Schnitzer Steel Industries, Inc. (NASDAQ: SCHN) today reported financial results for its fiscal 2016 second quarter ended February 29, 2016. Significantly weaker export demand in the latter half of the second quarter led to ferrous and nonferrous sales prices falling to multi-year lows during the quarter. The lower price environment adversely impacted scrap flows and compressed metal spreads. At the end of February, export ferrous sales prices for shipments in the third quarter began to improve and continued to show strength through March.
Summary Consolidated Performance
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