Schnitzer Steel (SCHN) -2.3% premarket after reporting FQ1 EPS of $0.25, beating consensus by...

|About: Schnitzer Steel Industries,... (SCHN)|By:, SA News Editor

Schnitzer Steel (SCHN) -2.3% premarket after reporting FQ1 EPS of $0.25, beating consensus by $0.03, and revenues of $812M, up 20.3% Y/Y, vs. consensus $787M. Operating margins "compressed significantly as average inventory costs did not decline as quickly as cash purchase prices for scrap. which was followed by a sharp decline in sales prices."