Schnitzer Reports Third Quarter Fiscal 2016 Financial Results
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Schnitzer Steel (SCHN) Tops Q3 EPS by 28c
June 30, 2016 8:32 AM EDTSchnitzer Steel (NASDAQ: SCHN) reported Q3 EPS of $0.46, $0.28 better than the analyst estimate of $0.18. Revenue for the quarter came in at $352 million versus the consensus estimate of $356.41 million.
Volumes: Ferrous sales volumes in the third quarter increased 13% from the second quarter, primarily due to stronger seasonal demand and the beneficial impact of the higher price environment on supply flows of scrap metal. Ferrous volumes declined 17% from the prior year third quarter due to weaker global demand. Nonferrous sales volumes were consistent with the second quarter but... More
