Schnitzer Steel Q2 Adj $(1.04) Beats $(1.09) Estimate, Sales $621.06M Miss $626.15M Estimate
Portfolio Pulse from Benzinga Newsdesk
Schnitzer Steel reported Q2 adjusted losses of $(1.04) per share, surpassing the $(1.09) estimate, but its sales of $621.06M fell short of the $626.15M estimate. This represents a significant decrease in performance compared to the same period last year, with earnings down 842.86% and sales down 17.84%.
April 04, 2024 | 12:08 pm
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Schnitzer Steel's Q2 earnings report showed adjusted losses better than expected but sales missed estimates, indicating mixed financial health.
While the better-than-expected loss per share might provide some positive sentiment, the miss on sales estimates and significant year-over-year declines in both earnings and sales could temper any potential positive impact on the stock price. The mixed nature of the report makes it difficult to predict a clear direction for the stock price in the short term.
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