Schnitzer Steel Industries, Inc. (SCHN) reported a drop in second-quarter net income attributable to SSI to $8.64 million, or $0.32 per share, from $9.63 million, or $0.35 per share, a year ago.
The company reported adjusted earnings per share of $0.36 for the recent quarter. Adjusted results for the quarter exclude a $2 million pre-tax restructuring charge associated with cost reduction initiatives announced in August 2012. The company said the performance exceeded its second quarter market outlook issued in February, due to better than anticipated operational performance in its Metals Recycling and Auto Parts Businesses, lower corporate expenses and additional tax benefits.
Quarterly revenues were $662.21 million, down from last year's $886.61 million.
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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.