09
Jan
17:00
Schnitzer Steel reports first-quarter earnings drop
Schnitzer Steel Industries saw its net income fall -14% on year in the fiscal first quarter of 2019, Kallanish reports.
Schnitzer earned $24 million in the quarter ended 30 November, down -14% from the $26m in earned in fiscal Q1 2018 and down -40% from the $38m it earned in fiscal Q4 2018.
The Portland, Oregon, company posted revenues of $564m in fiscal Q1, up 17% over fiscal Q1 2018 ($483m), but a -16% drop from $670m in Q4 2018.
Schnitzer's aut…
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Anonymous
Very good overview of the weekly steel market.
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