From GlobeNewswire: 2025-01-07 16:30:00

Radius Recycling, Inc. (NASDAQ: RDUS) reported a loss of $(1.30) per share and a net loss of $(37) million for the first quarter of fiscal 2025. Adjusted EBITDA was break-even, with adjusted loss per share of $(1.33). Operating results were stable, with improved contribution from recycled metals, driven by stronger nonferrous demand.

Market conditions were challenging, but Radius Recycling’s recycled metals business improved due to cost reduction measures and stronger nonferrous demand. Adjusted results exclude $2 million in insurance recovery gains. The contribution from finished steel declined due to weaker domestic steel conditions. The company expects improved demand in the second half of fiscal year 2025.

First quarter fiscal 2025 results included a detriment from average inventory accounting and a mill utilization rate of 81%. Operating cash flow was nearly break-even, with total debt at $445 million. The effective tax rate was approximately 11%. The Company declared a cash dividend of $0.1875 per common share.

Analysts’ conference call to discuss results will be held on January 8, 2025. Radius Recycling, Inc. is one of the largest manufacturers and exporters of recycled metal products in North America. The Company’s integrated operating platform includes steel manufacturing operations and 50 stores selling used auto parts. Radius began operations in 1906 in Portland, Oregon.



Read more at GlobeNewswire:: Radius Recycling Reports First Quarter Fiscal 2025