Schnitzer Steel Industries Reports Net Income of $13.6 Million for the Third Quarter of Fiscal Year 2023

Schnitzer Steel Industries, Inc. (SCHN) has announced its financial results fo r the third quarter of fiscal year 2023. The company reported a net income of $13.6 million, reflecting a decrease compared to the same period last year. Revenue for the quarter reached $809.6 million, representing a decline from the previous year. The following article provides an overview of the company's financial performance based on the condensed consolidated balance sheets and statements of operations.

Financial Overview

Schnitzer Steel Industries, Inc. has released its financial results for the third quarter of fiscal year 2023, reporting a net income of $13.6 million. This represents a decrease compared to the net income of $75.5 million recorded during the same period last year. The company's revenue for the quarter reached $809.6 million, reflecting a decline from the previous year's revenue of $1.01 billion.

Revenue Decline