Sims’ fiscal 1st-half earnings view dims

Dec 19, 2012 | 03:22 PM | Sean Davidson

Tags  scrap, Sims Metal Management, Daniel Dienst, earnings guidance, Sean Davidson

NEW YORK — Sims Metal Management Ltd. (SimsMM) has revised its earnings forecast for the first half of its fiscal year, indicating a further decline.

The company expects underlying earnings before interest, taxes, depreciation and amortization (Ebitda) for the six months ending Dec. 31 to be some 20 percent lower than its previous guidance range, putting earnings at some $88 million to $96 million. That would be between $45 million and $53 million lower year on year.....

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