Schnitzer Steel Q1 Adj EPS $(0.64) Beats $(0.70) Estimate, Sales $672.90M Beat $643.35M Estimate
Portfolio Pulse from Benzinga Newsdesk
Schnitzer Steel (NASDAQ: SCHN) reported Q1 adjusted EPS of $(0.64), surpassing the $(0.70) estimate, and sales of $672.90M, exceeding the $643.35M estimate. This represents a 45.45% decrease in EPS and a 12.39% increase in sales compared to the same period last year.
January 04, 2024 | 1:02 pm
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Schnitzer Steel reported better-than-expected Q1 results with an EPS beat of 8.57% and a sales beat of 4.59%, despite a year-over-year decrease in EPS.
Beating both EPS and sales estimates typically generates positive investor sentiment, which could lead to a short-term increase in stock price. However, the year-over-year decrease in EPS might temper some of the positive impact.
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