Schnitzer Steel Sees Q4 Adj. Earnings In Line With View - Quick Facts

(RTTNews) - Schinitzer Steel Industries Inc. (SCHN) on Thursday announced preliminary results for its fourth quarter of fiscal 2018 ended August 31, 2018. The company forecast adjusted earnings for the fourth quarter in line with analysts' estimates.

For the fourth quarter, the company forecast earnings per share from continuing operations in a range of $0.95 to $1.00 and adjusted earnings per share in a range of $0.93 to $0.98. In the year-ago quarter, reported earnings per share from continuing operations were $0.65 and adjusted earnings per share were $0.63.

On average, analysts polled by Thomson expect the company to report earnings of $0.97 per share for the fourth quarter. Analysts' estimates typically exclude special items.

Schinitzer Steel noted that the ranges for the preliminary results for its fourth quarter of fiscal 2018 do not include a potential discrete non-cash tax benefit associated with the realizability of certain deferred tax assets, which is still under review.