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April 11, 2021

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Schnitzer Steel reports Q2 profit

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PORTLAND – Schnitzer Steel Industries Inc. on Wednesday reported fiscal second-quarter profit of $44.6 million.

On a per-share basis, the Portland, Oregon-based company said it had net income of $1.54. Earnings, adjusted for non-recurring gains and to account for discontinued operations, were $1.51 per share.

The recycler of ferrous and nonferrous scrap metal posted revenue of $600.1 million in the period.

Schnitzer Steel shares have increased 30% since the beginning of the year. The stock has more than tripled in the last 12 months.

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