EmailSchnitzer Steel (SCHN $56.99 +0.55) reported third quarter earnings of
$1.17 per share, $0.04 worse than the Capital IQ Consensus Estimate of $1.21.
Revenues rose 39.5% year/year to $981.1 million versus the $831.2 million
consensus.
Auto Parts Business -- Outlook Revenues: Revenues are expected to approximate
3Q11. Margins: Fourth quarter operating margins are expected to decline
moderately from the third quarter of 2011 due to normal seasonal declines in
admissions and parts sales and higher inventory costs but to exceed the margins
achieved in the fourth quarter of fiscal 2010.
Steel Manufacturing Business: Outlook -- Sales Volumes: Sales volumes are
expected to approximate the third quarter of fiscal 2011. Pricing: Average net
sales prices are expected to approximate the third quarter of fiscal 2011.
Margins: Fourth quarter operating margins are expected to approximate the levels
achieved during the third quarter of fiscal 2011.
than one year.
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