Schnitzer Steel Industries Inc. Q3 adjusted earnings Beat Estimates

(RTTNews) - Schnitzer Steel Industries Inc. (SCHN) revealed earnings for its third quarter that advanced from last year.

The company's profit totaled $37 million, or $1.31 per share. This compares with $17 million, or $0.60 per share, in last year's third quarter.

Excluding items, Schnitzer Steel Industries Inc. reported adjusted earnings of $36 million or $1.26 per share for the period.

Analysts had expected the company to earn $1.18 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 37.7% to $530 million from $385 million last year.

Schnitzer Steel Industries Inc. earnings at a glance:

-Earnings (Q3): $36 Mln. vs. $16 Mln. last year. -EPS (Q3): $1.26 vs. $0.56 last year. -Analysts Estimate: $1.18 -Revenue (Q3): $530 Mln vs. $385 Mln last year.