Market Overview

Q3 Earnings Preview For Schnitzer Steel

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Schnitzer Steel (NASDAQ: SCHN) unveils its next round of earnings this Wednesday, June 26. Get prepared with Benzinga's ultimate preview for Schnitzer Steel's Q3 earnings.

Earnings and Revenue

Analysts predict Schnitzer Steel will report earnings of 58 cents per share on revenue of $527.12 million.

In the same quarter last year, Schnitzer Steel posted a profit of $1.26 on sales of $652.42 million. If the company were to match the consensus estimate when it reports Wednesday, EPS would have fallen 53.97%. Sales would be down 19.2% on a year-over-year basis. Here's how the company's reported EPS has stacked up against analyst estimates in the past:

 

Quarter Q2 2019 Q1 2019 Q4 2018 Q3 2018 Q2 2018
EPS Estimate 0.43 0.56 0.95 1.15 0.91
EPS Actual 0.480 0.58 1 1.26 0.9

Stock Performance

Shares of Schnitzer Steel were trading at $24.26 as of June 24. Over the last 52-week period, shares are down 32.98%. Given that these returns are generally negative, long-term shareholders are probably a little upset going into this earnings release.

Over the past 90 days, analysts have generally adjusted their estimates lower for EPS and revenues. Analysts have been rating Schnitzer Steel stock as Sell. The strength of this rating has maintained conviction over the past three months.

Conference Call

Schnitzer Steel is scheduled to hold a conference call at 10:30 a.m. ET and can be accessed here: https://edge.media-server.com/m6/p/kf5frquz

Posted-In: Earnings News

 

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