RTTNews | Oct 22, 2020 08:42AM EDT

08:42 Thursday, October 22, 2020 (RTTNews.com) - Schnitzer Steel Industries Inc. (SCHN) announced a profit for fourth quarter that declined from the same period last year.

The company's profit came in at $3.96 million, or $0.14 per share. This compares with $11.58 million, or $0.41 per share, in last year's fourth quarter.

Excluding items, Schnitzer Steel Industries Inc. reported adjusted earnings of $7 million or $0.23 per share for the period.

Analysts had expected the company to earn $0.13 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 15.2% to $464.59 billion from $547.80 billion last year.

Schnitzer Steel Industries Inc. earnings at a glance:

-Earnings (Q4): $7 Mln. vs. $12 Mln. last year.-EPS (Q4): $0.23 vs. $0.42 last year.-Analysts Estimate: $0.13-Revenue (Q4): $464.59 Bln vs. $547.80 Bln last year.

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