Schnitzer Steel Industries Inc. Q2 adjusted earnings Beat Estimates

(RTTNews) - Schnitzer Steel Industries Inc. (SCHN) revealed earnings for second quarter that declined from the same period last year.

The company's bottom line came in at $3.88 million, or $0.14 per share. This compares with $12.89 million, or $0.46 per share, in last year's second quarter.

Excluding items, Schnitzer Steel Industries Inc. reported adjusted earnings of $9 million or $0.31 per share for the period.

Analysts had expected the company to earn $0.23 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 7.2% to $439.48 million from $473.57 million last year.

Schnitzer Steel Industries Inc. earnings at a glance:

-Earnings (Q2): $9 Mln. vs. $14 Mln. last year. -EPS (Q2): $0.31 vs. $0.50 last year. -Analysts Estimate: $0.23 -Revenue (Q2): $439.48 Mln vs. $473.57 Mln last year.