Schnitzer Steel Industries Inc (SCHN) Q1 2015 Earnings Call Transcript

Phil Gibbs, KeyBanc
Okay. Tamara, wasn’t it the port congestion issues on the West Coast some of the demurrage that we were reading about? Did that impact you guys in the quarter?

Tamara Lundgren, President, CEO
Well, things are moving more slowly on the West Coast, but container shipments off the West Coast as a part of our whole portfolio is really quite small. So you wouldn’t really see it in our results, but things obviously are moving more slowly there.

Phil Gibbs, KeyBanc
Okay. Then just last one, Richard, on the resale or modification of the contract. Any insight you could provide us on how much volume was involved in that deal? Thanks.

Richard Peach, CFO, SVP
Well, the volumes are still in our results, so it was just really related to a small number of contracts with a couple of customers, but it didn’t affect the volumes in the quarter at all. It was really the pricing.

Phil Gibbs, KeyBanc
Yes, I just – you still there, Richard?

Richard Peach – CFO, SVP
Yes, I am.

Phil Gibbs, KeyBanc
I was just asking about how much – I realize that it was in the numbers, just asking how much of the volume was impacted. Thanks.

Richard Peach, CFO, SVP
It really was a small number of shipments, less than a handful.

PHIL GIBBS, Keybanc
Thank you.

Operator
Thank you. We will now resume our questions from David Lipschitz.

Tamara Lundgren, President, CEO
David, sorry about that. We’re not sure what happened.

David Lipschitz, CLSA
That’s okay. That’s okay. I’m used to it by now. I was just asking about – I know demand for non-res and infrastructure seems to be okay. I was just wondering with prices I know for hot roll has fallen, rebar has been more stable a little bit. Obviously, it’s down from first half of last year. I was just wondering in terms of pricing, are you seeing any pressure on prices coming into this quarter?

Tamara Lundgren, President, CEO
Well, again, there is always seasonality, obviously, but generally speaking, our customer order books are strong and the macro environment on the West Coast for non-res construction and infrastructure we see as strong.

David Lipschitz, CLSA
Okay. Thank you.

Tamara Lundgren, President, CEO
Thank you.