We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Schnitzer Steel (SCHN) to Post Q2 Earnings: What's in the Cards?
Read MoreHide Full Article
Schnitzer Steel Industries, Inc. is slated to release second-quarter fiscal 2021 results before the bell on Apr 7. Benefits of higher ferrous and non-ferrous sales volumes are likely to reflect on its results. The company is also likely to have gained from higher prices for recycled metals and its productivity improvement actions.
The company beat the Zacks Consensus Estimate for earnings in each of the trailing four quarters. In this timeframe, it delivered an earnings surprise of 72.7%, on average. It delivered an earnings surprise of 46.2% in the last reported quarter.
The company’s shares have surged 222.6% over a year compared with the industry’s 158.9% rise.
Let’s see how things are shaping up for this announcement.
What do the Estimates Say?
The Zacks Consensus Estimate for the company’s fiscal second quarter sales is currently pegged at $597.1 million, which suggests a rise of 35.9% from the year-ago quarter’s tally.
Some Factors at Play
Schnitzer Steel’s second-quarter results are expected to reflect the benefits of higher ferrous and non-ferrous sales volumes on the back of higher demand. It is benefiting from favorable ferrous and non-ferrous market conditions. Schnitzer Steel gained from strong market demand for recycled metals and finished steel products in the fiscal first quarter on the back of economic recovery which is expected to have continued in the quarter to be reported.
The company is also likely to have benefited from higher ferrous and non-ferrous average selling prices and its productivity improvements and cost cost-reduction actions in the to-be-reported quarter. Productivity and commercial initiatives enabled by full transition to its new One Schnitzer operating model are likely to have supported its margins.
Schnitzer Steel Industries, Inc. Price and EPS Surprise
Our proven model does not conclusively predict an earnings beat for Schnitzer Steel this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. But that’s not the case here.
Earnings ESP: Earnings ESP for Schnitzer Steel is 0.00%. The Zacks Consensus Estimate for earnings for the second quarter is currently pegged at 99 cents. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Schnitzer Steel currently carries a Zacks Rank #2.
Stocks That Warrant a Look
Here are some companies you may want to consider as our model shows they have the right combination of elements to post an earnings beat in their upcoming releases:
Celanese Corporation (CE - Free Report) has an Earnings ESP of +2.53% and carries a Zacks Rank #2.
Freeport-McMoRan Inc. (FCX - Free Report) has an Earnings ESP of +27.62% and carries a Zacks Rank #3.
Bitcoin, Like the Internet Itself, Could Change Everything
Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
Image: Bigstock
Schnitzer Steel (SCHN) to Post Q2 Earnings: What's in the Cards?
Schnitzer Steel Industries, Inc. is slated to release second-quarter fiscal 2021 results before the bell on Apr 7. Benefits of higher ferrous and non-ferrous sales volumes are likely to reflect on its results. The company is also likely to have gained from higher prices for recycled metals and its productivity improvement actions.
The company beat the Zacks Consensus Estimate for earnings in each of the trailing four quarters. In this timeframe, it delivered an earnings surprise of 72.7%, on average. It delivered an earnings surprise of 46.2% in the last reported quarter.
The company’s shares have surged 222.6% over a year compared with the industry’s 158.9% rise.
Let’s see how things are shaping up for this announcement.
What do the Estimates Say?
The Zacks Consensus Estimate for the company’s fiscal second quarter sales is currently pegged at $597.1 million, which suggests a rise of 35.9% from the year-ago quarter’s tally.
Some Factors at Play
Schnitzer Steel’s second-quarter results are expected to reflect the benefits of higher ferrous and non-ferrous sales volumes on the back of higher demand. It is benefiting from favorable ferrous and non-ferrous market conditions. Schnitzer Steel gained from strong market demand for recycled metals and finished steel products in the fiscal first quarter on the back of economic recovery which is expected to have continued in the quarter to be reported.
The company is also likely to have benefited from higher ferrous and non-ferrous average selling prices and its productivity improvements and cost cost-reduction actions in the to-be-reported quarter. Productivity and commercial initiatives enabled by full transition to its new One Schnitzer operating model are likely to have supported its margins.
Schnitzer Steel Industries, Inc. Price and EPS Surprise
Schnitzer Steel Industries, Inc. price-eps-surprise | Schnitzer Steel Industries, Inc. Quote
Zacks Model
Our proven model does not conclusively predict an earnings beat for Schnitzer Steel this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. But that’s not the case here.
Earnings ESP: Earnings ESP for Schnitzer Steel is 0.00%. The Zacks Consensus Estimate for earnings for the second quarter is currently pegged at 99 cents. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Schnitzer Steel currently carries a Zacks Rank #2.
Stocks That Warrant a Look
Here are some companies you may want to consider as our model shows they have the right combination of elements to post an earnings beat in their upcoming releases:
KushCo Holdings, Inc. (KSHB - Free Report) has an Earnings ESP of +23.08% and carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Celanese Corporation (CE - Free Report) has an Earnings ESP of +2.53% and carries a Zacks Rank #2.
Freeport-McMoRan Inc. (FCX - Free Report) has an Earnings ESP of +27.62% and carries a Zacks Rank #3.
Bitcoin, Like the Internet Itself, Could Change Everything
Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
See 3 crypto-related stocks now >>