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.
