Schnitzer Steel Industries, Inc. (SCHN) provided its market outlook for the second quarter of fiscal 2013.
The company anticipates a sequential improvement in its consolidated financial performance in the second quarter of fiscal 2013. Looking ahead to the second quarter, earnings per share are likely to range from $0.20 to $0.26, excluding restructuring charges. Also, the company expects to incur a pre-tax restructuring charge in the second quarter relating to its announcement in August of about $2 million, equating to $0.04 earnings per share.
The effective tax rate for the second quarter is believed to include tax credits and other benefits in the range of $1 million - $2 million.
In the Metals Recycling Business, ferrous export selling prices strengthened throughout the quarter, with prices for February shipments around $40 per ton higher than shipments at the first quarter end, while domestic selling prices weakened slightly toward the end of the quarter.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.