Schnitzer Steel Industries Inc Class A ( (RDUS) ) has released its Q2 earnings. Here is a breakdown of the information Schnitzer Steel Industries Inc Class A presented to its investors.
Radius Recycling, Inc., a leading North American recycler of ferrous and nonferrous metals, operates 53 facilities across the U.S., Puerto Rico, and Western Canada, and is known for its integrated operations including a steel mill in Oregon.
In its second quarter fiscal 2025 earnings report, Radius Recycling reported a net loss of $33 million, slightly better than the $34 million loss in the same quarter last year, with revenues increasing to $643 million from $621 million. Despite the loss, the company generated positive operating cash flow and declared a quarterly dividend.
Key financial metrics showed a mixed performance with ferrous sales volumes up by 12% year-over-year, but average net selling prices for ferrous metals down by 14%. Nonferrous demand was strong, leading to a 10% increase in average selling prices, although volumes were slightly down. The company also benefited from a 12% reduction in SG&A costs due to productivity initiatives.
Looking ahead, Radius Recycling is set to merge with Toyota Tsusho America, Inc., a move anticipated to close in the second half of 2025. The merger is expected to enhance strategic opportunities and operational efficiencies, positioning the company for future growth in the recycling sector.