Schnitzer Steel Industries, Inc. recycles ferrous and nonferrous scrap metals; and manufactures finished steel products worldwide. The company operates in two segments, Auto and Metals Recycling (AMR), and Cascade Steel and Scrap (CSS). The AMR segment acquires, processes, and recycles scrap metals, as well as processes mixed and large pieces of scrap metal into smaller pieces by crushing, torching, shearing, shredding, and sorting. This segment offers ferrous recycled scrap metal, a feedstock used in the production of finished steel products; and nonferrous products, including mixed metal joint products recovered from the shredding process, such as zorba, zurik, and shredded insulated wires, as well as aluminum, copper, stainless steel, nickel, brass, titanium, lead, and high temperature alloys. It sells catalytic converters to specialty processors that extract the nonferrous precious metals, including platinum, palladium, and rhodium; and ferrous and nonferrous recycled metal products to steel mills, foundries, refineries, smelters, wholesalers, and recycled metal processors. This segment also procures salvaged vehicles and sells serviceable used auto parts from these vehicles through its 50 self-service auto parts stores in the United States and Western Canada, as well as sells auto bodies. The CSS segment produces various finished steel products using ferrous recycled scrap metal and other raw materials. It provides semi-finished goods, which include billets; and finished goods consisting of rebar, coiled rebar, wire rods, merchant bars, and other specialty products. This segment serves steel service centers, construction industry subcontractors, steel fabricators, wire drawers, and farm and wood products suppliers. Schnitzer Steel Industries, Inc. was founded in 1906 and is headquartered in Portland, Oregon.
IPO Year: 1993
Exchange: NASDAQ
Website: schnitzersteel.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 5/19/2022 | Overweight → Sector Weight | KeyBanc Capital Markets | |
| 3/24/2022 | $58.00 | Sector Weight → Overweight | KeyBanc Capital Markets |
| 7/19/2021 | $80.00 | Outperform | Northland Capital |
KeyBanc Capital Markets downgraded Schnitzer Steel from Overweight to Sector Weight
KeyBanc Capital Markets upgraded Schnitzer Steel from Sector Weight to Overweight and set a new price target of $58.00
Northland Capital initiated coverage of Schnitzer Steel with a rating of Outperform and set a new price target of $80.00
Goldman Sachs initiated coverage of Schnitzer Steel Indus with a rating of Buy and set a new price target of $48.00
8-K - RADIUS RECYCLING, INC. (0000912603) (Filer)
S-8 - SCHNITZER STEEL INDUSTRIES, INC. (0000912603) (Filer)
10-Q - SCHNITZER STEEL INDUSTRIES, INC. (0000912603) (Filer)
8-K - SCHNITZER STEEL INDUSTRIES, INC. (0000912603) (Filer)
DEFA14A - SCHNITZER STEEL INDUSTRIES, INC. (0000912603) (Filer)
DEF 14A - SCHNITZER STEEL INDUSTRIES, INC. (0000912603) (Filer)
8-K - SCHNITZER STEEL INDUSTRIES, INC. (0000912603) (Filer)
10-K - SCHNITZER STEEL INDUSTRIES, INC. (0000912603) (Filer)
8-K - SCHNITZER STEEL INDUSTRIES, INC. (0000912603) (Filer)
8-K - SCHNITZER STEEL INDUSTRIES, INC. (0000912603) (Filer)
SC 13G - RADIUS RECYCLING, INC. (0000912603) (Subject)
SC 13G/A - RADIUS RECYCLING, INC. (0000912603) (Subject)
SC 13G/A - RADIUS RECYCLING, INC. (0000912603) (Subject)
SC 13G/A - SCHNITZER STEEL INDUSTRIES, INC. (0000912603) (Subject)
SC 13G/A - SCHNITZER STEEL INDUSTRIES, INC. (0000912603) (Subject)
SC 13G/A - SCHNITZER STEEL INDUSTRIES, INC. (0000912603) (Subject)
SC 13G/A - SCHNITZER STEEL INDUSTRIES, INC. (0000912603) (Subject)
SC 13G/A - SCHNITZER STEEL INDUSTRIES, INC. (0000912603) (Subject)
SC 13G - SCHNITZER STEEL INDUSTRIES, INC. (0000912603) (Subject)
SC 13G - SCHNITZER STEEL INDUSTRIES, INC. (0000912603) (Subject)
4 - SCHNITZER STEEL INDUSTRIES, INC. (0000912603) (Issuer)
4 - SCHNITZER STEEL INDUSTRIES, INC. (0000912603) (Issuer)
4 - SCHNITZER STEEL INDUSTRIES, INC. (0000912603) (Issuer)
4 - SCHNITZER STEEL INDUSTRIES, INC. (0000912603) (Issuer)
4 - SCHNITZER STEEL INDUSTRIES, INC. (0000912603) (Issuer)
4 - SCHNITZER STEEL INDUSTRIES, INC. (0000912603) (Issuer)
4 - SCHNITZER STEEL INDUSTRIES, INC. (0000912603) (Issuer)
4 - SCHNITZER STEEL INDUSTRIES, INC. (0000912603) (Issuer)
4 - SCHNITZER STEEL INDUSTRIES, INC. (0000912603) (Issuer)
4 - SCHNITZER STEEL INDUSTRIES, INC. (0000912603) (Issuer)
Schnitzer Steel Industries, Inc. dba Radius Recycling (NASDAQ:SCHN) announced that the Company's common stock will begin trading on NASDAQ under the symbol ‘RDUS' at the open of market trading on September 1, 2023, which coincides with the start of the Company's fiscal year. ‘RDUS' will replace the Company's current ticker symbol ‘SCHN,' which has been used since its initial public offering in 1993. The new ticker symbol aligns with the Company's rebranding from Schnitzer Steel to Radius Recycling, announced on July 26, 2023. No action is required by existing Company shareholders with respect to the ticker symbol change. To learn more about Radius Recycling, visit radiusrecycling.com.
Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) today unveiled its new corporate name and identity, Radius Recycling, as part of a rebranding initiative to reflect the Company's vision, purpose, and impact on the global economy. For more than a century, the Company has developed robust networks to collect, process, and deliver recycled metals to customers around the world. As the global economy accelerates its shift toward low carbon technologies, the demand for these metals has grown significantly. Electric vehicles and renewable energy systems, widely acknowledged as crucial components of a sustainable future, require more metals compared to the technologies they are replacing. As Radi
Significant Sequential Performance Improvement Schnitzer Board Declares Quarterly Dividend Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) today reported results for its third quarter of fiscal 2023 ended May 31, 2023. Third Quarter Fiscal 2023 Highlights Diluted earnings per share from continuing operations of $0.48. Net income of $14 million and net income per ferrous ton of $12. Adjusted diluted earnings per share from continuing operations of $0.67, which excludes charges of $5 million, or $0.18 per share, related primarily to legacy environmental matters. Adjusted EBITDA of $56 million and adjusted EBITDA per ferrous ton of $48. Significant sequential performance impro
Company recognized for delivering recycled materials that advance global decarbonization Today, Schnitzer Steel Industries, Inc. (NASDAQ:SCHN), a global leader in metals recycling, was named to TIME's third-annual TIME100 Most Influential Companies list. The ranking highlights 100 companies that are making an extraordinary impact around the world. "We are honored to be a part of TIME's list of the 100 Most Influential Companies," said Tamara Lundgren, Chairman and CEO of Schnitzer. "The use of recycled metals is an important strategic solution for companies, industries, and governments focused on carbon reduction, and our work and our purpose have never been more relevant than they are
Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) announced that the Company will report financial results for its third quarter fiscal 2023 ended May 31, 2023 on Tuesday, June 27, 2023. The Company will host a webcast conference call to discuss the results at 11:30 a.m. Eastern Time on the same day. The webcast of the call and the accompanying slide presentation may be accessed on Schnitzer's website under Company > Investors > Event Calendar at www.schnitzersteel.com/company/investors/event-calendar. The call will be hosted by Tamara Lundgren, Chairman and Chief Executive Officer, and Stefano Gaggini, Senior Vice President and Chief Financial Officer. About Schnitzer Steel Industries, Inc.
Significant Sequential Performance Improvement on Strengthening Demand Strong Operating Cash Flow Generation of $88 million Schnitzer Board Declares Quarterly Dividend Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) today reported results for its second quarter of fiscal 2023 ended February 28, 2023. Second Quarter Fiscal 2023 Highlights Diluted earnings per share from continuing operations of $0.14. Net income of $4 million and net income per ferrous ton of $3. Adjusted diluted earnings per share from continuing operations of $0.14. Adjusted EBITDA of $32 million and adjusted EBITDA per ferrous ton of $25. Significant sequential performance improvement driven by higher d
Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) announced that the Company will report financial results for its second quarter fiscal 2023 ended February 28, 2023 on Wednesday, April 5, 2023. The Company will host a webcast conference call to discuss the results at 11:30 a.m. Eastern Time on the same day. The webcast of the call and the accompanying slide presentation may be accessed on Schnitzer's website under Company > Investors > Event Calendar at www.schnitzersteel.com/company/investors/event-calendar. The call will be hosted by Tamara Lundgren, Chairman and Chief Executive Officer, and Stefano Gaggini, Senior Vice President and Chief Financial Officer. About Schnitzer Steel Industrie
Company Honored with Title for Nine Consecutive Years Schnitzer Steel Industries, Inc. (NASDAQ:SCHN), a global leader in metals recycling, has been recognized by Ethisphere as one of the 2023 World's Most Ethical Companies. Ethisphere is a world leader in defining and advancing the standards of ethical business practices. Schnitzer is among this year's 135 honorees spanning 19 countries and 46 industries. This is the ninth consecutive year in which Schnitzer has earned its place among Ethisphere's honorees, a distinguished group of companies supporting communities, building capable and empowered workforces, and fostering corporate cultures focused on ethics and purpose. "We are honored t
Schnitzer Steel Industries, Inc. (NASDAQ:SCHN), a global leader in metals recycling, has been named the most sustainable company in the world by Corporate Knights, a leading media and research organization focused on corporate sustainability performance. The 19th annual Global 100 List of the world's most sustainable corporations by Corporate Knights is based on a detailed assessment of 6,720 companies, each with more than US$1 billion in revenue, where performance across a range of sustainability metrics is evaluated. "Sustainability is at the core of what we do and how we operate, and it has been since our founding in 1906," said Tamara Lundgren, Chairman and Chief Executive Officer. "O
Increased Productivity Improvement Benefits Target from $40 million to $60 million Expanded Recycling Services Platform with Acquisition of ScrapSource LLC Schnitzer Board Declares Quarterly Dividend Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) today reported results for its first quarter of fiscal 2023 ended November 30, 2022. First Quarter Fiscal 2023 Highlights Diluted loss per share from continuing operations of $(0.64). Net loss of $(18) million and net loss per ferrous ton of $(21). Adjusted diluted loss per share from continuing operations of $(0.44), which excludes charges of $7 million related primarily to asset impairments and restructuring charges and other exit-related
Significant Sequential Performance Improvement Schnitzer Board Declares Quarterly Dividend Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) today reported results for its third quarter of fiscal 2023 ended May 31, 2023. Third Quarter Fiscal 2023 Highlights Diluted earnings per share from continuing operations of $0.48. Net income of $14 million and net income per ferrous ton of $12. Adjusted diluted earnings per share from continuing operations of $0.67, which excludes charges of $5 million, or $0.18 per share, related primarily to legacy environmental matters. Adjusted EBITDA of $56 million and adjusted EBITDA per ferrous ton of $48. Significant sequential performance impro
Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) announced that the Company will report financial results for its third quarter fiscal 2023 ended May 31, 2023 on Tuesday, June 27, 2023. The Company will host a webcast conference call to discuss the results at 11:30 a.m. Eastern Time on the same day. The webcast of the call and the accompanying slide presentation may be accessed on Schnitzer's website under Company > Investors > Event Calendar at www.schnitzersteel.com/company/investors/event-calendar. The call will be hosted by Tamara Lundgren, Chairman and Chief Executive Officer, and Stefano Gaggini, Senior Vice President and Chief Financial Officer. About Schnitzer Steel Industries, Inc.
Significant Sequential Performance Improvement on Strengthening Demand Strong Operating Cash Flow Generation of $88 million Schnitzer Board Declares Quarterly Dividend Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) today reported results for its second quarter of fiscal 2023 ended February 28, 2023. Second Quarter Fiscal 2023 Highlights Diluted earnings per share from continuing operations of $0.14. Net income of $4 million and net income per ferrous ton of $3. Adjusted diluted earnings per share from continuing operations of $0.14. Adjusted EBITDA of $32 million and adjusted EBITDA per ferrous ton of $25. Significant sequential performance improvement driven by higher d
Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) announced that the Company will report financial results for its second quarter fiscal 2023 ended February 28, 2023 on Wednesday, April 5, 2023. The Company will host a webcast conference call to discuss the results at 11:30 a.m. Eastern Time on the same day. The webcast of the call and the accompanying slide presentation may be accessed on Schnitzer's website under Company > Investors > Event Calendar at www.schnitzersteel.com/company/investors/event-calendar. The call will be hosted by Tamara Lundgren, Chairman and Chief Executive Officer, and Stefano Gaggini, Senior Vice President and Chief Financial Officer. About Schnitzer Steel Industrie
Increased Productivity Improvement Benefits Target from $40 million to $60 million Expanded Recycling Services Platform with Acquisition of ScrapSource LLC Schnitzer Board Declares Quarterly Dividend Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) today reported results for its first quarter of fiscal 2023 ended November 30, 2022. First Quarter Fiscal 2023 Highlights Diluted loss per share from continuing operations of $(0.64). Net loss of $(18) million and net loss per ferrous ton of $(21). Adjusted diluted loss per share from continuing operations of $(0.44), which excludes charges of $7 million related primarily to asset impairments and restructuring charges and other exit-related
Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) today announced preliminary results for its fiscal 2023 first quarter ended November 30, 2022. First Quarter Fiscal 2023 Expected Performance The Company anticipates: First quarter diluted loss per share from continuing operations to be in the range of $(0.64) - $(0.69). Net loss to be in the range of $(18) million - $(20) million and net loss per ferrous ton in the range of $(21) - $(23). Adjusted diluted loss per share from continuing operations to be in the range of $(0.44) - $(0.49), which excludes expected charges of $7 million primarily related to asset impairments and restructuring and other exit-related activities. Adjusted EBIT
Second Best Fiscal Year Earnings in Company's History Strong Operating Cash Flow of $180 Million in the Fourth Quarter Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) today reported financial results for the fourth quarter and fiscal year ended August 31, 2022. Fourth Quarter and Fiscal 2022 Highlights Diluted earnings per share from continuing operations of $0.36 in the fourth quarter. Diluted earnings per share from continuing operations of $5.72 in fiscal 2022. Adjusted diluted earnings per share from continuing operations in the fourth quarter of $0.50, which excludes charges of $4 million, or $0.14 per share, related primarily to legacy environmental matters. Adjusted diluted ear
Expects Second Best Fiscal Year Earnings in Company's History Strong Operating Cash Flow of $180 Million Expected in the Fourth Quarter Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) today announced preliminary results for its fourth quarter and fiscal year ended August 31, 2022. Fiscal 2022 Expected Performance The Company expects fiscal 2022 results to be the second best year in its history. Diluted earnings per share from continuing operations are expected to be in the range of $5.67 - $5.72, net income is expected to be in the range of $170 million - $172 million, adjusted diluted earnings per share are expected to be in the range of $6.00 - $6.05, and adjusted EBITDA is expected to
Best Third Quarter Earnings in Company's History Acquisition of Encore Recycling's Operating Assets Expands Company's Southeast Platform Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) today reported results for its third quarter of fiscal 2022 ended May 31, 2022. Third Quarter Fiscal 2022 Highlights Diluted earnings per share from continuing operations of $2.52 compared to $2.16 in the third quarter of fiscal 2021 Adjusted diluted earnings per share from continuing operations of $2.59 compared to adjusted diluted earnings per share of $2.20 in the third quarter of fiscal 2021 Net income of $76 million compared to $65 million in the third quarter of fiscal 2021 Adjusted EBITDA of
Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) announced that the Company will report financial results for its third quarter fiscal 2022 ended May 31, 2022 on Wednesday, June 29, 2022. The Company will host a webcast conference call to discuss the results at 11:30 a.m. Eastern Time on the same day. The webcast of the call and the accompanying slide presentation may be accessed on Schnitzer's website under Company > Investors > Event Calendar at www.schnitzersteel.com/company/investors/event-calendar. The call will be hosted by Tamara Lundgren, Chairman and Chief Executive Officer, and Richard Peach, Executive Vice President, Chief Financial Officer and Chief Strategy Officer. Replay Infor
Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) announced that its Board of Directors has appointed Gregory R. Friedman as a new independent director, effective immediately. Mr. Friedman will serve on the Audit Committee and the Compensation and Human Resources Committee of the Board. Over his 30-year career, Mr. Friedman has led business growth through a variety of senior executive roles. He currently serves as the Chief Financial Officer of Mura Technology, a plastics recycling technology company supported by investments by multiple leading petrochemical and industrial companies and aims to become the world's prime producer of recycled hydrocarbons. Prior to joining Mura, from 2018 throu
Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) is pleased to announce changes to its executive leadership team. On July 27, 2022, Schnitzer's Board of Directors appointed Richard Peach, the Company's Executive Vice President, Chief Financial Officer, and Chief Strategy Officer, to serve as the Company's Executive Vice President and Chief Strategy Officer, effective September 1, 2022, with expansion of scope and responsibility. Mr. Peach, 58, had served as Schnitzer's CFO since 2007. Prior to joining Schnitzer in 2007, Mr. Peach was CFO at PacifiCorp, a leading energy utility in the western United States. On July 27, 2022, the Board also appointed Stefano Gaggini, the Company's Vice Presid
Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) announced that its Board of Directors has appointed Leslie L. Shoemaker as a new independent director, effective immediately. Dr. Shoemaker will serve on the Nominating and Corporate Governance Committee of the Board. Dr. Shoemaker is the President of Tetra Tech (NASDAQ:TTEK), a leading, global provider of consulting and engineering services in the areas of water, environment, infrastructure, resource management, energy, and international development. Dr. Shoemaker joined Tetra Tech in 1991 and has served in various technical and operational capacities of increasing responsibility, including Group President, Chief Strategy Officer, and Growth
PORTLAND, Ore.--(BUSINESS WIRE)--Schnitzer Steel Industries, Inc. (NASDAQ: SCHN) today reported results for its first quarter of fiscal 2021 ended November 30, 2020. First Quarter Fiscal 2021 Highlights Diluted earnings per share from continuing operations of $0.50, more than triple earnings per share of $0.14 in the fourth quarter of fiscal 2020, and compared to a diluted loss per share from continuing operations of $(0.26) in the first quarter of fiscal 2020 Adjusted diluted earnings per share from continuing operations of $0.57, more than double adjusted diluted earnings per share of $0.23 in the fourth quarter of fiscal 2020, and compared to an adjusted diluted loss per sha
Schnitzer Steel Industries, Inc. dba Radius Recycling (NASDAQ:SCHN) announced that the Company's common stock will begin trading on NASDAQ under the symbol ‘RDUS' at the open of market trading on September 1, 2023, which coincides with the start of the Company's fiscal year. ‘RDUS' will replace the Company's current ticker symbol ‘SCHN,' which has been used since its initial public offering in 1993. The new ticker symbol aligns with the Company's rebranding from Schnitzer Steel to Radius Recycling, announced on July 26, 2023. No action is required by existing Company shareholders with respect to the ticker symbol change. To learn more about Radius Recycling, visit radiusrecycling.com.
Schnitzer Steel Industries Inc. (NASDAQ:SCHN) reported a third-quarter FY23 revenue decline of 19.9% year-over-year to $809.61 million, missing the consensus of $823.95 million. Adjusted EPS was $0.67, beating the consensus of $0.64. Adjusted EBITDA was $56 million (-52.9% Y/Y), and the margin contracted by 486 bps to 6.9%. Q3 adjusted EBITDA per ferrous ton of $48, compared to $105 in 3Q22. Average net selling prices for ferrous and nonferrous products increased sequentially by 13% and 2%, reflecting stronger demand for recycled metals. Sales volumes for finished steel products increased by 30%, benefiting from seasonally stronger demand for finished steel. Rolling mill utilization rea
Schnitzer Steel Indus (NASDAQ:SCHN) reported quarterly adjusted earnings of $0.67 per share which beat the analyst consensus estimate of $0.64 by 4.69 percent. This is a 74.13 percent decrease over earnings of $2.59 per share from the same period last year. The company reported quarterly sales of $810.00 million which missed the analyst consensus estimate of $823.95 million by 1.69 percent. This is a 19.80 percent decrease over sales of $1.01 billion the same period last year.
Market sentiment appears to be improving after the pullback witnessed in the previous two sessions. Beaten-down tech stocks are expected to lead the recovery, as indicated by the outperformance of Nasdaq 100 futures. Traders will likely focus on economic data related to the housing market, consumer confidence, and manufacturing sectors to gain better insight into the economic and rate outlook. Key Highlights From Monday’s Trading: The subdued sentiment observed on Friday carried over into Monday’s session, as uncertainties led to risk aversion and resulted in traders selling growth stocks, particularly in the big tech sector. The major indices opened lower but quickly reversed cours
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