29
Mar
18:13
Schnitzer anticipates Q2 loss, improvement in Q3
Portland, Oregon-based recycler and longs producer Schnitzer Steel Industries expects to report a loss for the second quarter, though smoother sailing appears to be ahead.
US-based Schnitzer says it stands to lose $0.25-0.27/per share when it officially announces its earnings on 6 April. This is largely due to an -8% drop in ferrous sales volume and a -6% drop in ferrous sales pricing.
The company lost $.20/share, or $5 million, in Q1, Kallanish notes.
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Anonymous
Very good overview of the weekly steel market.
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