Service Centers

Schnitzer Steel Upgrades Guidance for Q3
Written by Sandy Williams
June 1, 2021
Schnitzer Steel said it expects ferrous volumes to be better than expected in its fiscal third quarter which ends this month. The company previously reported guidance of 977,000 long tons for Q3. According to an SEC filing on June 1, a 25% increase over that amount is now anticipated.
Finished steel sales volumes for the quarter are expected to be approximately 10% higher than the 136,000 short tons in guidance from the second-quarter earnings call.
For the third quarter, net income per ferrous ton is expected to be in a range from the $47 achieved in the second quarter of fiscal 2021 and up to 5% higher.
A fire at Schnitzer’s Cascade Steel Rolling Mill on May 22 is not expected to have a significant impact on third-quarter earnings. The fire and resulting damage were limited to the melt shop, and the company is still assessing the time-line for repairs.
Schnitzer will report its fiscal third-quarter earnings on June 30, 2021.
Schnitzer is a metals recyler and steel manufacturer based in Portland, Ore.

Sandy Williams
Read more from Sandy WilliamsLatest in Service Centers

Ryerson profits fall in Q2 on low demand
Ryerson’s earnings slumped in the second quarter amid “recessed” demand.

Reliance logs another record for Q2 tons sold
Reliance Inc. reported record second-quarter tonnages, with 1.62 million tons sold in the second quarter of 2025, a 4% increase year over year (y/y).

Triple-S closes on American Stainless Tubing buy
Triple-S Steel Holdings has closed on its previously announced acquisition of American Stainless Tubing.

Worthington Steel fiscal Q4 profit rises despite sales drop
Worthington Steel earnings rose while sales fell in its fiscal fourth quarter.

Friedman’s profits tick higher on record quarterly sales volumes
Friedman Industries' earnings increased in its fiscal fourth quarter ended March 31.