Preview of New Report

Sims Metal Management (SMS) reported EBITDA of A$69 million for the six months ended December 31, 2011 (fiscal 1H 2012), less than half the A$149 million in EBITDA reported in the year-ago period as difficult business environments in North America and the UK hurt operating margins.

Guidance was qualitative with Sims saying that scrap intake has begun to recover while deep sea ferrous export prices firmed in December and January, and recovered once again most recently after a slight softening at the beginning of February.

Management said the company will continue to grow through acquisitions and recently purchased a stake in a Chinese metal recycling company.

Our full report is available to subscribers only and provides further thoughts on Sims’ half-year (ending December 31, 2011) earnings report and conference call as well as the implication for the stock and other equities.

For a free trial subscription, please contact us.