Schnitzer Steel Industries Q3: Topline Miss, Tighter Supply Flows & More
Portfolio Pulse from Akanksha Bakshi
Schnitzer Steel Industries Inc. reported a Q3 FY23 revenue decline of 19.9% YoY to $809.61 million, missing the consensus of $823.95 million. Adjusted EPS was $0.67, beating the consensus of $0.64. The company declared a cash dividend of $0.1875 per common share. SCHN shares are trading lower by 4.2% at $30.38.
June 27, 2023 | 4:30 pm
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NEGATIVE IMPACT
Schnitzer Steel's Q3 FY23 revenue missed consensus and shares are trading lower. However, the company beat EPS consensus and declared a dividend.
Schnitzer Steel's revenue miss and the subsequent drop in share price indicate a negative short-term impact. However, the EPS beat and dividend declaration could provide some positive sentiment among investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100