Schnitzer Steel Industries Inc. Q3 Earnings Advance 23%

(RTTNews) - Schnitzer Steel Industries Inc. (SCHN) reported earnings for its third quarter that climbed compared to the same period last year.

The company said its bottom line came in at $16 million, or $0.56 per share. This was up from $13 million, or $0.46 per share, in last year's third quarter.

Analysts had expected the company to earn $0.56 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 35.7% to $477.09 million. This was up from $351.60 million last year.

Schnitzer Steel Industries Inc. earnings at a glance:

-Earnings (Q3): $16 Mln. vs. $13 Mln. last year. -Earnings Growth (Y-o-Y): 23.1% -EPS (Q3): $0.56 vs. $0.46 last year. -EPS Growth (Y-o-Y): 21.7% -Analysts Estimate: $0.56 -Revenue (Q3): $477.09 Mln vs. $351.60 Mln last year. -Revenue Change (Y-o-Y): 35.7%