22
Mar
15:38
Recycling segment boosts Schnitzer back into the black
US metals recycler and longs producer Schnitzer Steel Industries expects to return to profitability in its fiscal second quarter, largely due to improved scrap prices, Kallanish reports.
For the quarter ended February 28, Schnitzer anticipates adjusted earnings of $0.34-0.37/share, up from an adjusted loss of $0.25/share in fiscal Q2 2016 and an adjusted loss of $0.03/share in Q1.
The company’s recycling segment doubled its operating income to $25-27 mi…
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Anonymous
Very good overview of the weekly steel market.
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