Schnitzer Steel Industries First Quarter Earnings Sneak Peek

Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) will unveil its latest earnings on Tuesday, January 8, 2013. Schnitzer Steel Industries is currently a recycler of ferrous and nonferrous scrap metal and used and salvaged vehicles. It is also a manufacturer of finished steel products.

Schnitzer Steel Industries, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of 4 cents per share, a decline of 84% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 24 cents. Between one and three months ago, the average estimate moved down. It also has dropped from 8 cents during the last month. Analysts are projecting profit to rise by 17.1% compared to last year’s $1.30.

Past Earnings Performance: The company’s quarterly results have come in above estimates for the last three quarters. Last quarter, the company booked profit of 10 cents per share versus a mean estimate of net loss of one cent per share.

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A Look Back: In the fourth quarter of the last fiscal year, the company swung to a loss of $482,000 (one cent a share) from a profit of $36.7 million ($1.31) a year earlier, but beat analyst expectations. Revenue fell 29.5% to $762.3 million from $1.08 billion.