09
Jan
20:50
Environmental liability dings Schnitzer earnings
US metals recycler and longs producer Schnitzer Steel saw a slight quarter-on-quarter dip in its first-quarter profits, largely due to lingering environmental liabilities, Kallanish reports.
Schnitzer earned $0.64/share in the quarter ended 30 November, on par with the $0.65/share ($18m) earned in fiscal Q4 2017. Revenues were $483m and $494m, respectively.
Fiscal Q1’s earnings include an environmental liability of $4m.
“In the first quarter of…
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