Schnitzer Steel Industries Inc. Q2 adjusted earnings Beat Estimates

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

The company's profit totaled $44.59 million, or $1.54 per share. This compares with $3.88 million, or $0.14 per share, in last year's second quarter.

Analysts had expected the company to earn $0.99 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 36.6% to $600.11 million from $439.48 million last year.

Schnitzer Steel Industries Inc. earnings at a glance:

-EPS (Q2): $1.51 vs. $0.31 last year. -Analysts Estimate: $0.99 -Revenue (Q2): $600.11 Mln vs. $439.48 Mln last year.