Courtesy of Benzinga.
Schnitzer Steel Industries Inc (NASDAQ: SCHN) projected weaker-than-expected fiscal first-quarter results.
Schnitzer expects FQ1 earnings of $0.18 to $0.25 per share, versus analysts’ estimates of $0.55 per share. Schnitzer now projects operating earnings per ferrous ton to decline around 50% from year-ago levels of $21 per ton in the metals recycling segment
Schnitzer expects operating income in the auto-parts segment to drop 30%.
Schnitzer shares fell 6.28% to $42.86 in pre-market trading.
For more Benzinga, visit Benzinga Professional Service, Value Investor, and Stocks Under $5.