Earnings Preview For Schnitzer Steel (SCHN)

Schnitzer Steel Industries SCHN is set to report its fiscal second quarter for 2011. Analysts are expecting the company to report $0.85 per share versus $0.62 a year ago. Revenues are expected to come in at $747.10 million. Analyst estimates have remained steady at $0.85 over the past month, but have slipped seven cents a share over the past 90 days. The Oregon-based company is enjoying a strong recovery after the steel industry suffered large losses during the depths of the worldwide recession in 2008-2009. Schnitzer has posted a positive earnings surprise in three of the past four quarters with the lone miss coming last quarter by 9.90%.