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Schnitzer Steel issues downside Q2 earnings guidance for Q2

2016-03-29 01:10:56| Steel - Topix.net

Schnitzer Steel issues below consensus FQ2 earnings guidance , seeing a loss of $0.25-$0.27/share vs. analyst consensus for a $0.12/share loss; trading is halted. SCHN says significantly weaker export demand in the latter half of the quarter led to ferrous and non-ferrous sales prices falling to multi-year lows, and the lower price environment hurt scrap flows, which compressed metal spreads.

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Category:Materials

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