Schnitzer Steel Industries Inc. Q2 adjusted earnings Beat Estimates

(RTTNews) - Schnitzer Steel Industries Inc. (SCHN) reported a profit for its second quarter that climbed from the same period last year.

The company's profit totaled $41 million, or $1.42 per share. This compares with $11 million, or $0.40 per share, in last year's second quarter.

Excluding items, Schnitzer Steel Industries Inc. reported adjusted earnings of $41 million or $1.42 per share for the period.

Analysts had expected the company to earn $0.91 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 46.3% to $559 million from $382 million last year.

Schnitzer Steel Industries Inc. earnings at a glance:

-Earnings (Q2): $41 Mln. vs. $10 Mln. last year. -EPS (Q2): $1.42 vs. $0.37 last year. -Analysts Estimate: $0.91 -Revenue (Q2): $559 Mln vs. $382 Mln last year.