Radius Recycling, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended May 31, 2024
July 02, 2024 at 01:00 pm
Share
Radius Recycling, Inc. reported earnings results for the third quarter and nine months ended May 31, 2024. For the third quarter, the company reported sales was USD 673.92 million compared to USD 809.61 million a year ago. Net loss was USD 198.39 million compared to net income of USD 13.46 million a year ago. Basic loss per share from continuing operations was USD 6.97 compared to basic earnings per share from continuing operations of USD 0.49 a year ago. Diluted loss per share from continuing operations was USD 6.97 compared to diluted earnings per share from continuing operations of USD 0.48 a year ago.
For the nine months, sales was USD 1,967.88 million compared to USD 2,164.29 million a year ago. Net loss was USD 250.33 million compared to net income of USD 0.025 million a year ago. Basic loss per share from continuing operations was USD 8.82. Diluted loss per share from continuing operations was USD 8.82.
Radius Recycling, Inc., formerly Schnitzer Steel Industries, Inc., is a manufacturer and exporter of recycled metal products. The Company also operates a third-party recycling (3PR) service, which includes materials management, reverse logistics, railcar dismantling, and vehicle recycling services. The Company operates scrap recycling facilities in 25 states, western Canada, and Puerto Rico. It has 54 metals recycling facilities, including seven shredding operations. The Companyâs integrated operating platform also includes 50 stores which sell serviceable used auto parts from salvaged vehicles and receive over four million annual retail visits. Its steel manufacturing operations produce finished steel products, including rebar, wire rod, and other specialty products. The Company has seven deep water export facilities located on both the East and West Coasts and in Hawaii and Puerto Rico. The Company's subsidiaries include Auto Parts Group Southwest, LLC, Edman Corp., and others.
RADIUS RECYCLING, INC. 
