Portland Oregon headquartered Schnitzer Steel Industries expects fiscal 2022 results to be the second best year in its history. Net income is expected to be in the range of USD 170-172 million and adjusted EBITDA is expected to be in the range of USD 311-313 million. The Company delivered record performance in the first nine months of fiscal 2022 but fourth quarter results were adversely impacted by declining ferrous and nonferrous sales prices and demand, tighter supply flows, and disruptions due to an extended shredding operation outage at the Company's Everett, MA facility to replace equipment damaged by the December 2021 fire, offset in part by benefits of strong prices for the Company's finished steel products.
Portland Oregon headquartered Schnitzer Steel Industries expects fiscal 2022 results to be the second best year in its history. Net income is expected to be in the range of USD 170-172 million and adjusted EBITDA is expected to be in the range of USD 311-313 million. The Company delivered record performance in the first nine months of fiscal 2022 but fourth quarter results were adversely impacted by declining ferrous and nonferrous sales prices and demand, tighter supply flows, and disruptions due to an extended shredding operation outage at the Company's Everett, MA facility to replace equipment damaged by the December 2021 fire, offset in part by benefits of strong prices for the Company's finished steel products.
