Schnitzer Steel Industries, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended February 28, 2021
April 06, 2021
Share
Schnitzer Steel Industries, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended February 28, 2021. For the quarter, the company reported Revenue was $600,111,000 against $439,482,000 a year ago. Operating income was $58,584,000 against $7,691,000 a year ago. Net income was $45,679,000 against $4,504,000 a year ago. Basic per share was $1.59 against $0.14 a year ago. Diluted per share was $1.54 against $0.14 a year ago.
For the six months, the company reported Revenue was $1,092,218,000 against $845,066,000 a year ago. Operating income was $81,354,000 against operating loss of $219,000 a year ago. Net income was $60,743,000 against net loss of $2,061,000 a year ago. Basic per share was $2.1 against basic loss per share of $0.11 a year ago. Diluted per share was $2.05 against diluted loss per share of $0.11 a year ago.
Radius Recycling, Inc., formerly Schnitzer Steel Industries, Inc., is a manufacturer and exporter of recycled metal products. The Company also operates a third-party recycling (3PR) service, which includes materials management, reverse logistics, railcar dismantling, and vehicle recycling services. The Company operates scrap recycling facilities in 25 states, western Canada, and Puerto Rico. It has 54 metals recycling facilities, including seven shredding operations. The Companyâs integrated operating platform also includes 50 stores which sell serviceable used auto parts from salvaged vehicles and receive over four million annual retail visits. Its steel manufacturing operations produce finished steel products, including rebar, wire rod, and other specialty products. The Company has seven deep water export facilities located on both the East and West Coasts and in Hawaii and Puerto Rico. The Company's subsidiaries include Auto Parts Group Southwest, LLC, Edman Corp., and others.