Schnitzer Steel Industries (Nasdaq: SCHN) reported earnings on June 27. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended May 31 (Q3), Schnitzer Steel Industries missed estimates on revenues and missed estimates on earnings per share.

Compared to the prior-year quarter, revenue dropped significantly. Non-GAAP earnings per share dropped significantly. GAAP earnings per share contracted significantly.

Gross margins were steady, operating margins shrank, net margins shrank.

Revenue details
 Schnitzer Steel Industries recorded revenue of $710.3 million. The seven analysts polled by S&P Capital IQ hoped for sales of $737.8 million on the same basis. GAAP reported sales were 19% lower than the prior-year quarter's $879.9 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 EPS came in at $0.09. The seven earnings estimates compiled by S&P Capital IQ anticipated $0.11 per share. Non-GAAP EPS of $0.09 for Q3 were 78% lower than the prior-year quarter's $0.40 per share. GAAP EPS of $0.03 for Q3 were 93% lower than the prior-year quarter's $0.40 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
 For the quarter, gross margin was 8.2%, much about the same as the prior-year quarter. Operating margin was 1.2%, 130 basis points worse than the prior-year quarter. Net margin was 0.1%, 120 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
 Next quarter's average estimate for revenue is $732.7 million. On the bottom line, the average EPS estimate is $0.17.

Next year's average estimate for revenue is $2.73 billion. The average EPS estimate is $0.70.

Investor sentiment
 The stock has a three-star rating (out of five) at Motley Fool CAPS, with 354 members out of 374 rating the stock outperform, and 20 members rating it underperform. Among 78 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 75 give Schnitzer Steel Industries a green thumbs-up, and three give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Schnitzer Steel Industries is hold, with an average price target of $28.22.

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