Financial Data and Key Metrics Changes - The company nearly doubled its adjusted EBITDA to $17 million in Q4 2024 compared to $9 million in the prior quarter, which included $7 million in insurance recoveries [6][14] - Adjusted SG&A costs decreased by 7% year-over-year, reflecting the benefits from cost-saving measures, although partially offset by elevated legal costs [16] - Operating cash flow for Q4 was positive at $4 million, reflecting higher sequential EBITDA results [21] Business Line Data and Key Metrics Changes - Non-ferrous sales volumes increased by 13%, while ferrous sales volumes rose by 12%, and finished steel sales volumes grew by 11% due to contributions from metal recovery technology investments and new commercial initiatives [6][14] - Ferrous sales volumes were up 12% sequentially, with domestic shipments accounting for 40% of total sales [17] - Non-ferrous sales volumes were sold to 13 countries, with major destinations being Malaysia, India, and China, and average net selling prices for recycled non-ferrous products increased by 4% sequentially [19] Market Data and Key Metrics Changes - Domestic steel prices increased by about $20 in October, marking the first price increase in calendar year 2024 [31] - The average prices for copper, aluminum, and other non-ferrous products were up approximately 10% year-over-year, while PGM metals prices decreased by almost 10% due to subdued auto production [8] - The company noted that auto production remains low compared to pre-pandemic levels, contributing to lower scrappage rates of end-of-life vehicles [9] Company Strategy and Development Direction - The company is focused on cost reduction and productivity improvement, with a $70 million annual cost reduction program expected to yield significant benefits [10][15] - Investments in advanced metal recovery technologies are aimed at increasing the recovery of non-ferrous metals and creating furnace-ready products based on demand [11] - The company anticipates that continued reductions in US interest rates will benefit consumer manufacturing and construction activity, leading to improved scrap supply flows and increased demand for finished steel [7][26] Management's Comments on Operating Environment and Future Outlook - Management acknowledged that while current market conditions are challenging, they are well-positioned to benefit from long-term trends associated with decarbonization and infrastructure investment [26] - The company expects that improved scrap supply flows will provide significant operating leverage benefits as volumes recover [26] - Management highlighted the importance of focusing on controllable factors, such as cost savings and productivity improvements, to navigate current market challenges [25] Other Important Information - The company achieved a 16% year-over-year reduction in total case incident rate, with nearly 90% of facilities having no lost time incidents [5] - Capital expenditures in Q4 were $20 million, with a full fiscal 2024 CapEx of $76 million, a reduction of more than a third compared to fiscal 2023 [22] - The company expects to maintain a flexible balance sheet while pursuing a balanced capital allocation strategy [23] Q&A Session Summary Question: Can you help parse out the sequential change in EBITDA, volume contribution, price, and cost on a unit basis? - The largest component of the sequential improvement in EBITDA was from increased volumes for all products, making up slightly less than half of the improvement. The ramp-up in cost savings and productivity benefits accounted for around a third, with the remainder from higher non-ferrous prices and lesser inventory accounting detriment [29] Question: Did you see any measurable change in the tightness on scrap flows during the quarter? - Management indicated that there has been no loosening in scrap flows, with changes primarily driven by seasonality [30] Question: Can you provide an update on ferrous export activity in October? - Domestic prices increased in October, bringing domestic and export prices into parity, while East Coast export activity remained stable amid tight availability [31] Question: Can you discuss the dynamics around the benefits from timing of shipments? - The increase in ferrous sales was attributed to seasonality and timing of shipments, with a reduction in inventory sequentially contributing to the increase [35][36] Question: How has the premium of Twitch over Zorba evolved in recent months? - The spread between Twitch and Zorba has compressed due to low auto production, but management anticipates it will widen as auto production recovers [37][38] Question: What is the outlook for the West Coast market? - Management expects continued strong demand in the West Coast market, with utilization rates remaining high [40]

Corporate Changes - Radius Recycling, Inc. reported a significant operational change with the corporate name change from Schnitzer Steel Industries, Inc. to Radius Recycling, Inc. effective January 30, 2024[5]. Operations and Facilities - The company operates 50 retail self-service auto parts stores and 53 metals recycling facilities, making it one of North America's largest recyclers of ferrous and nonferrous metals[6]. - The company operates seven deepwater port locations, six equipped with large-scale shredders, enhancing its recycling capabilities[11]. - The company’s steel mill has an annual production capacity of approximately 950 thousand tons, with a voluntary stated production limit of 740 thousand tons[44]. - The company has a total of 52 owned operating facilities and 58 leased facilities across various locations[114]. Financial Performance - Total revenues declined by 5% to $2,738,692,000 in fiscal 2024 from $2,882,224,000 in fiscal 2023[150]. - Net loss for fiscal 2024 was $266,224,000, a significant increase from a net loss of $25,438,000 in fiscal 2023[152]. - Adjusted EBITDA for fiscal 2024 was $29 million, a significant decrease from $144 million in the prior fiscal year[148]. - The company reported a net loss from continuing operations attributable to shareholders of $266.3 million for the fiscal year 2024, compared to a loss of $25.7 million in fiscal 2023[202]. - Goodwill impairment charges amounted to $215.9 million in fiscal 2024, significantly impacting the overall financial results[202]. Revenue Breakdown - Approximately 94% of consolidated revenues are derived from sales of recycled ferrous and nonferrous metal products and finished steel products[23]. - Total ferrous revenues decreased by 4% to $1,388,543,000 in fiscal 2024 from $1,439,983,000 in fiscal 2023[24]. - Total nonferrous revenues declined by 5% to $738,843,000 in fiscal 2024 compared to $781,102,000 in fiscal 2023[25]. - Finished steel revenues decreased by 13% to $439,762,000 in fiscal 2024 from $507,550,000 in fiscal 2023[26]. Market Conditions - The pricing for recycled ferrous and nonferrous metal is influenced by market cycles and varies by region, impacting overall revenue[19]. - In fiscal 2024, the company experienced weaker market conditions for recycled ferrous metals globally, leading to significantly lower average net selling prices compared to prior periods[35]. - The company’s operations are influenced by the relative value of the U.S. dollar and the availability of raw material alternatives, impacting pricing and competition in the recycled metal market[35]. Environmental and Regulatory Compliance - The company faces increased regulatory scrutiny and potential compliance costs due to evolving environmental laws and regulations, particularly related to GHG emissions and air quality standards[41]. - The company is subject to antidumping and countervailing duty orders that have led to a decrease in finished steel imports into domestic markets since fiscal 2016, with ongoing reviews impacting future operations[38]. - The company has incurred additional costs due to regulatory changes, such as transporting shredder waste out of state for disposal[96]. - Future environmental compliance costs may increase due to new laws and regulations, impacting financial performance[102]. Employee and Safety Initiatives - As of August 31, 2024, Radius Recycling, Inc. had 3,011 full-time employees, with approximately 95% residing in the United States[52]. - The company achieved a year-over-year decrease in recordable injuries and associated rates in fiscal 2024, with a near-term goal of a 1.00 Total Case Incident Rate (TCIR) by the end of fiscal 2025[55]. - Employee engagement initiatives have contributed to operational performance, with the company being recognized as a certified Great Place to Work for four consecutive years[53]. Debt and Financial Obligations - Debt increased to $415 million as of August 31, 2024, from $249 million as of August 31, 2023[149]. - The company expects to remain in compliance with financial covenants under its credit agreement, with potential risks if market conditions do not improve[171]. - The consolidated asset coverage ratio was 1.33 to 1.00 as of August 31, 2024, exceeding the required minimum of 1.00 to 1.00[170]. Acquisitions and Growth Strategies - The company expanded its recycling services operations through the acquisition of ScrapSource in fiscal 2023, enhancing its service offerings[16]. - The company has implemented productivity and cost reduction initiatives targeting an annual benefit of approximately $70 million to improve profitability[82]. Risks and Challenges - The company faces restrictions from its bank credit facilities that may limit its ability to incur additional debt or execute strategic opportunities[78]. - Legal proceedings and compliance risks may adversely impact financial condition and results of operations, with potential outcomes exceeding insurance recoveries[87]. - Climate change poses risks to operations, including potential disruptions from rising sea levels and extreme weather events[88]. Shareholder Returns - The Company declared its 122nd consecutive quarterly dividend in the fourth quarter of fiscal 2024[131]. - The company has approximately 2.8 million shares available for repurchase under its share repurchase program as of August 31, 2024[132].

Company Performance - Radius Recycling reported a quarterly loss of $0.41 per share, which was better than the Zacks Consensus Estimate of a loss of $0.79, and compared to earnings of $0.47 per share a year ago, indicating an earnings surprise of 48.10% [1] - The company posted revenues of $770.82 million for the quarter ended August 2024, surpassing the Zacks Consensus Estimate by 13.19%, and up from $717.93 million in the same quarter last year [1] - Over the last four quarters, Radius Recycling has exceeded consensus EPS estimates four times and topped consensus revenue estimates three times [1] Stock Performance - Radius Recycling shares have declined approximately 44.8% since the beginning of the year, contrasting with the S&P 500's gain of 21.5% [2] - The stock currently holds a Zacks Rank 3 (Hold), indicating it is expected to perform in line with the market in the near future [4] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is -$0.66 on revenues of $648.3 million, and for the current fiscal year, it is -$1.02 on revenues of $2.75 billion [4] - The trend of estimate revisions for Radius Recycling is mixed, and future changes in estimates will be closely monitored following the recent earnings report [4] Industry Context - The Waste Removal Services industry, to which Radius Recycling belongs, is currently ranked in the top 39% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [5] - Enviri (NVRI), another company in the same industry, is expected to report quarterly earnings of $0.05 per share, with revenues projected to be $612.1 million, reflecting a 16.7% increase from the previous year [5]

EXHIBIT 99.1 Radius Recycling Reports Fourth Quarter and Fiscal 2024 Financial Results Significant Sequential Improvement in Operating and Financial Performance in Q4 Ferrous, Nonferrous and Finished Steel Sales Volumes Up Sequentially Radius Board Declares Quarterly Dividend PORTLAND, Ore., Oct. 24, 2024 (GLOBE NEWSWIRE) -- Radius Recycling, Inc. (NASDAQ: RDUS) today reported results for the fourth quarter and fiscal year ended August 31, 2024. The Company reported a net loss of $(16) million, or $(13) per ...

PORTLAND, Ore., Sept. 26, 2024 (GLOBE NEWSWIRE) -- Radius Recycling, Inc. (NASDAQ: RDUS) announced that the Company will report financial results for its fourth quarter and fiscal 2024 ended August 31, 2024 on Thursday, October 24, 2024. The Company will host a webcast conference call to discuss the results at 11:30 a.m. Eastern Time on the same day. The webcast of the call and the accompanying slide presentation may be accessed on Radius Recycling's website at www.radiusrecycling.com/company/investors. The ...

Radius Recycling, Inc. (NASDAQ:RDUS) Q3 2024 Earnings Conference Call July 2, 2024 11:30 AM ET Company Participants Michael Bennett - Vice President, Investor Relations Tamara Lundgren - Chairman and Chief Executive Officer Stefano Gaggini - Chief Financial Officer Conference Call Participants Martin Englert - Seaport Research Partners Samuel McKinney - KeyBanc Capital Markets Operator Good day and thank you for standing by. Welcome to the Radius Recycling’s Third Quarter 2024 Earnings Release Call and Webc ...

The precise nature and extent of cleanup of any specific areas within Portland Harbor, the parties to be involved, the timing of any specific remedial action and the allocation of the costs for any cleanup among responsible parties have not yet been determined. The process of site investigation, remedy selection, identification of additional PRPs, and allocation of costs has been underway for a number of years, but significant uncertainties remain. It is unclear to what extent the Company will be liable for ...

The Company's reported and adjusted results differed significantly this quarter. Due primarily to a non-cash goodwill impairment charge reflecting the challenging market conditions for recycled metals experienced during the last year, the Company reported a loss per share from continuing operations of $(6.97) and a net loss of $(199) million in the third quarter. These results included a goodwill impairment charge of $216 million or $(6.21) per share net of taxes and compared to a reported loss per share of ...

PORTLAND, Ore., June 18, 2024 (GLOBE NEWSWIRE) -- Radius Recycling, Inc. (NASDAQ: RDUS) announced that the Company will report financial results for its third quarter fiscal 2024 ended May 31, 2024 on Tuesday, July 2, 2024. The Company will host a webcast conference call to discuss the results at 11:30 a.m. Eastern Time on the same day. The webcast of the call and the accompanying slide presentation may be accessed on Radius Recycling's website at www.radiusrecycling.com/company/investors. The call will be ...

Radius Recycling (RDUS) is expected to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended May 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price. The stock might move higher if these key numbers top expectations in the upcoming earnings report. On the other hand, if they miss, the stock ma ...