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Schnitzer Steel Industries Inc. Q4 Profit Decreases, but beats estimates

Schnitzer Steel Industries Inc. (SCHN) reported earnings for fourth quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $10.35 million, or $0.36 per share. This compares with $42.79 million, or $1.43 per share, in last year's fourth quarter.

Excluding items, Schnitzer Steel Industries Inc. reported adjusted earnings of $0.50 per share for the period.

Analysts on average had expected the company to earn $0.45 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 5.8% to $894.41 million from $845.62 million last year.

Schnitzer Steel Industries Inc. earnings at a glance (GAAP) :

-Earnings (Q4): $10.35 Mln. vs. $42.79 Mln. last year.
-EPS (Q4): $0.36 vs. $1.43 last year.
-Analyst Estimates: $0.45
-Revenue (Q4): $894.41 Mln vs. $845.62 Mln last year.

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