Schnitzer's Adjusted EBITDA Will Nearly Double in Fiscal 2018; Raising FVE to $22 After 3Q Guidance
Having issued impressive third-quarter guidance, Schnitzer Steel Industries is on pace to nearly double its adjusted EBITDA for fiscal 2018 from the prior year. We now forecast $206 million of adjusted EBITDA this year, an 8.7% margin on our sales forecast of roughly $2.4 billion. Our outlook for fiscal 2018 represents a solid improvement from adjusted EBITDA margins just above 6% in fiscal 2016 and 2017.We've raised our near-term profit outlook, which ticks our fair value upward to $22 per sha...
Schnitzer Steel Industries is engaged as a recycler of ferrous and nonferrous scrap metal, including end-of-life vehicles, and a manufacturer of finished steel products. The company has two segments: Auto and Metals Recycling, which acquires and recycles ferrous and nonferrous scrap metal for sale to foreign and domestic metal producers, processors and brokers, and procures salvaged vehicles and sells serviceable used auto parts from these vehicles through a network of self-service auto parts stores; and Cascade Steel and Scrap, which produces a range of finished steel long products using ferrous recycled scrap metal and other raw materials.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.