Service Centers
September 28, 2017
Schnitzer Expects Improved Results in Q4
Written by Sandy Williams
Schnitzer Steel Industries is expecting good results for its fourth quarter FY 2017, ending Aug. 31. Earnings per share are expected in the range of $0.60-$0.63, up from $0.59 in Q4 2016.
Autos and Metals Recycling ferrous net selling prices are expected to jump 25 percent year-over-year and ferrous sales volumes 7.0 percent. Although operating income of $27 to $28 per ferrous ton is expected to exceed that of $23 posted last year, income was adversely impacted by sharply higher ferrous market prices in August, which led to increased raw material costs, compressing margins on shipments contracted earlier in the quarter.
