Schnitzer Steel Indus Q3 Adj EPS $0.67 Beats $0.64 Estimate, Sales $810.00M Miss $823.95M Estimate
Portfolio Pulse from Benzinga Newsdesk
Schnitzer Steel Indus reported Q3 adjusted earnings of $0.67 per share, beating the $0.64 estimate, but sales of $810 million missed the $823.95 million estimate. This represents a 74.13% decrease in earnings and a 19.80% decrease in sales compared to the same period last year.
June 27, 2023 | 12:01 pm
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Schnitzer Steel's Q3 earnings beat estimates, but sales missed expectations, with a significant YoY decrease in both earnings and sales.
Schnitzer Steel's Q3 earnings beat analyst estimates, which could have a positive impact on the stock price. However, the missed sales estimate and significant YoY decreases in both earnings and sales could offset any potential gains, resulting in a neutral short-term impact.
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IMPORTANCE 80
RELEVANCE 100