Schnitzer Steel Industries Inc. Q4 Profit Decreases, but beats estimates

(RTTNews) - Schnitzer Steel Industries Inc. (SCHN) reported earnings for fourth quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $10.35 million, or $0.36 per share. This compares with $42.79 million, or $1.43 per share, in last year's fourth quarter.

Excluding items, Schnitzer Steel Industries Inc. reported adjusted earnings of $0.50 per share for the period.

Analysts on average had expected the company to earn $0.45 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 5.8% to $894.41 million from $845.62 million last year.

Schnitzer Steel Industries Inc. earnings at a glance (GAAP) :

-Earnings (Q4): $10.35 Mln. vs. $42.79 Mln. last year. -EPS (Q4): $0.36 vs. $1.43 last year. -Analyst Estimates: $0.45 -Revenue (Q4): $894.41 Mln vs. $845.62 Mln last year.