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Schnitzer Steel Industries, Inc. (NASDAQ: SCHN) is a leading company in the metals recycling and steel manufacturing sector. Founded in 1906, the company has a rich history and has grown to become one of North America's largest recyclers of ferrous and nonferrous scrap metal. Schnitzer Steel operates through two primary segments: Auto and Metals Recycling and Steel Manufacturing.
Auto and Metals Recycling involves the collection, processing, and sale of recycled metals. The company operates more than 100 facilities, including more than 50 auto parts stores. Schnitzer Steel is committed to sustainability, converting end-of-life vehicles and other scrap into valuable raw materials that are used in manufacturing and infrastructure projects.
Steel Manufacturing focuses on producing finished steel products. The company's steel manufacturing segment operates a mini-mill that produces rebar and wire rod. These products are primarily used in construction and infrastructure projects.
In recent years, Schnitzer Steel has focused on expanding its footprint and enhancing its operational efficiencies through strategic acquisitions and technology upgrades. The company has also embraced sustainability as a core principle, continually improving its processes to minimize environmental impact. Notably, in its latest achievements, Schnitzer Steel has reported significant advancements in using recycled materials, helping reduce the carbon footprint associated with steel production.
Financially, Schnitzer Steel remains robust with a strong balance sheet and consistent revenue growth. The company has also formed multiple partnerships to bolster its market position and drive innovation in recycling technology.
Schnitzer Steel, operating under the trade name Radius Recycling, continues to play a vital role in the circular economy, transforming waste into resources and supporting sustainable development. For the latest updates, news, and developments, visit their official website.
Schnitzer Steel Industries (NASDAQ: SCHN) has successfully restarted production at its Cascade Steel Rolling Mills in McMinnville, OR, several weeks ahead of schedule, thanks to substantial repairs following a fire in 2021. The company has also signed an agreement to acquire Columbus Recycling, adding eight facilities in the Southeast, which is projected to increase Schnitzer's ferrous volumes by approximately 7%. The acquisition aligns with the company's growth strategy to meet rising demand for recycled metals and low carbon technologies.
Schnitzer Steel Industries, Inc. (NASDAQ: SCHN) has been recognized as a Great Place to Work®, reflecting its commitment to employee trust, respect, and inclusion. This certification, granted by Great Place to Work®, highlights the company's robust workplace culture, which is driven by values such as safety, sustainability, and integrity. Only 3% of the U.S. workforce is employed by certified organizations. Schnitzer’s leadership emphasizes the importance of this achievement for employees and communities, marking a significant milestone in its 115-year history focused on innovation and engagement.
Schnitzer Steel Industries (NASDAQ: SCHN) reported a strong third quarter of fiscal 2021, achieving diluted earnings per share of $2.16 compared to $1.54 in the previous quarter and a loss of $0.18 per share a year ago. Net income rose to $65 million from $46 million in Q2 2021 and a net loss of $5 million in Q3 2020. Revenues climbed to $821 million, benefitting from high demand for recycled metals and finished steel, with selling prices reaching multi-year highs. The company plans to ramp up production on advanced metal recovery technology systems to further drive growth.
Schnitzer Steel Industries, Inc. (NASDAQ: SCHN) will report its financial results for the third quarter of fiscal 2021, which ended on May 31, 2021, on June 30, 2021. A webcast conference call to discuss these results will take place at 11:30 a.m. ET on the same day, hosted by CEO Tamara Lundgren and CFO Richard Peach. The results will be accessible on Schnitzer’s investor website. Schnitzer is a leading manufacturer and exporter of recycled metal products across North America, with operations in 23 states and various territories.
Schnitzer Steel Industries, Inc. (NASDAQ: SCHN) reported strong performance for Q2 fiscal 2021, with diluted earnings per share soaring to $1.54, compared to $0.50 in Q1 2021 and $0.14 in Q2 2020. Net income reached $46 million, tripling from $15 million in Q1 2021. Adjusted EBITDA was reported at $71 million, increasing from $40 million in Q1 2021. The company's results were driven by high global demand for recycled metals and steel products, despite some volume impact from severe weather. The operational initiatives have positioned Schnitzer for further strategic advancements and sustainability goals.
Schnitzer Steel Industries, Inc. (NASDAQ: SCHN) will report its financial results for Q2 fiscal 2021, ending February 28, 2021, on April 7, 2021. A webcast conference call will occur at 11:30 a.m. Eastern Time the same day. The call will feature CEO Tamara Lundgren and CFO Richard Peach. Schnitzer Steel is a leading manufacturer and exporter of recycled metal products in North America, with operations in 23 states and various territories. The company operates 50 retail stores and seven export facilities, emphasizing its extensive market reach.
Schnitzer Steel Industries (NASDAQ: SCHN) reported a strong first quarter for fiscal 2021, with diluted earnings per share from continuing operations at $0.50, significantly up from $(0.26) in Q1 2020. Net income reached $15 million, a rise from $5 million in Q4 2020, and adjusted EBITDA improved to $40 million. This growth was driven by strong demand for recycled metals and productivity enhancements. The company declared a quarterly dividend of $0.1875. Market conditions are favorable, with ferrous selling prices returning to pre-COVID levels and nonferrous prices reaching multi-year highs.
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