Schnitzer Steel Industries Inc. Q4 adjusted earnings Beat Estimates

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

The company's profit came in at $60 million, or $2.09 per share. This compares with $18 million, or $0.64 per share, in last year's fourth quarter.

Excluding items, Schnitzer Steel Industries Inc. reported adjusted earnings of $59 million or $2.06 per share for the period.

Analysts had expected the company to earn $0.95 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 35.6% to $670 million from $494 million last year.

Schnitzer Steel Industries Inc. earnings at a glance:

-Earnings (Q4): $59 Mln. vs. $18 Mln. last year. -EPS (Q4): $2.06 vs. $0.63 last year. -Analysts Estimate: $0.95 -Revenue (Q4): $670 Mln vs. $494 Mln last year.