Schnitzer Steel (SCHN) lowers FQ2 guidance, now expecting to earn $0.28 - $0.35 per share, below...


Schnitzer Steel (SCHN) lowers FQ2 guidance, now expecting to earn $0.28 - $0.35 per share, below Street consensus of $0.55. The company notes however, that while volatile pricing trends resulted in margin compression in the first half of FY12, long-term global demand for recycled steel continues to be strong.

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