Radius Recycling, Inc. (NASDAQ:RDUS) Q2 2024 Earnings Conference Call April 4, 2024 11:30 AM ET Company Participants Michael Bennett - Vice President, Investor Relations Tamara Lundgren - Chairman and CEO Stefano Gaggini - Chief Financial Officer Conference Call Participants Martin Englert - Seaport Research Partners Operator Good day and thank you for standing by. Welcome to the Radius Recycling Second Quarter 2024 Earnings Release Call. At this time, all participants are in listen-only mode. After the spe ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended February 29, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from __________ to __________ Commission File Number 000-22496 RADIUS RECYCLING, INC. (Exact name of registrant as specified in its charter) (State or ot ...

Agenda Recycled Metals Market Trends– Slide 5 Delivering Value Through the Cycle – Slide 11 Ferrous sales volumes down 15% sequentially, due to seasonality and delays of certain bulk shipments Achieved full quarterly run-rate from $30 million productivity improvement program announced in 1Q24 4 Note: For a reconciliation to U.S. GAAP of adjusted EBITDA, adjusted EBITDA per ferrous ton, see appendix. | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |----------------------------|----------------- ...

EXHIBIT 99.1 Radius Recycling Reports Second Quarter Fiscal 2024 Financial Results Nonferrous and Finished Steel Sales Volumes Up Year-Over-Year Increased Cost Reduction Target by $40 Million Radius Board Declares Quarterly Dividend PORTLAND, Ore., April 04, 2024 (GLOBE NEWSWIRE) -- Radius Recycling, Inc. (NASDAQ: RDUS) today reported results for the second quarter of fiscal 2024 ended February 29, 2024. The Company reported a loss per share from continuing operations of $(1.19) and a net loss of $(34) mill ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended November 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from __________ to __________ Commission File Number 000-22496 SCHNITZER STEEL INDUSTRIES, INC. (Exact name of registrant as specified in its charter) (S ...

Financial Data and Key Metrics Changes - The company reported an adjusted EBITDA of $1 million and an adjusted EPS loss of $0.64 for Q1 2024, reflecting challenging market conditions for recycled metals due to lower manufacturing activity and scrap generation in the U.S. [1][17] - Realized prices for recycled metals declined, with average ferrous and non-ferrous net selling prices down sequentially by 1% and 3%, respectively, while PGM prices decreased by 11%, reaching their lowest level in five years [17][18]. - The contribution from the steel mill remained significant but was down sequentially due to seasonally lower finished steel sales volumes, although year-over-year sales volumes were up 10% [19][42]. Business Line Data and Key Metrics Changes - Ferrous sales volumes increased by 10% year-over-year, driven by healthy demand from non-residential construction in the West Coast markets, despite a sequential decline due to normal seasonality [8][42]. - Non-ferrous sales volumes were up 12% year-over-year, attributed to new metal recovery technology investments and a fiscal '23 acquisition [14][33]. - The share of domestic ferrous shipments was 46%, with top export destinations for ferrous being Turkey, Bangladesh, and India [13]. Market Data and Key Metrics Changes - U.S. domestic ferrous prices were somewhat flat during the first two months of the quarter, impacted by the resolved UAW strike and overall low utilization rates [9]. - Finished steel market prices were down slightly due to normal seasonality, but an increase in activity is expected in 2024 related to U.S. infrastructure bills [10]. - The average age of vehicles on the road has reached record levels, leading to lower scrappage rates and constrained scrap generation [11]. Company Strategy and Development Direction - The company is investing in advanced technologies to increase recovery of non-ferrous metals and generate higher-value products [2]. - The focus remains on increasing ferrous and non-ferrous volumes in light of long-term demand drivers [2]. - The company is committed to ongoing productivity initiatives targeting annual benefits of $30 million, focusing on production cost reductions and operating efficiencies [20]. Management's Comments on Operating Environment and Future Outlook - Management noted that current market conditions are challenging but expressed confidence in navigating through volatility and tight scrap availability [28]. - There is an expectation of improved financial performance in Q2 due to rising ferrous and non-ferrous prices since mid-November [46][65]. - Long-term demand for recycled metals is driven by decarbonization and structural deficits for metals like copper and nickel [36]. Other Important Information - The company recognized $4 million in insurance recoveries related to a prior event at the Everett facility, down from $41 million in the previous quarter [12][72]. - Capital expenditures for Q1 were $25 million, with a projected total of $100 million for fiscal '24, focusing on growth projects and maintaining business operations [44]. Q&A Session Summary Question: What contributed to the sequential decline in EBITDA per ferrous ton? - Management indicated that the decline was primarily due to seasonally lower mill contributions and further compression of recycling metal spreads, with lower prices impacting both ferrous and non-ferrous metals [57]. Question: Will the improvement in flows and metal spreads contribute to better results? - Management confirmed that the expected improvement in results for Q2 is primarily driven by spread expansion due to rising prices, rather than improved flows, which are typically constrained in winter [66][70]. Question: What is the status of the insurance recovery related to the Everett facility? - The recovery recognized in the current quarter was associated with a fire at the Everett facility in December 2021, and management does not expect future recoveries to be as significant as previously recognized [76][78]. Question: How are freight dynamics impacting guidance? - Management noted that while there are challenges in the global seaborne freight market, the impact on Q1 results was not significant, and freight costs are generally passed through [86]. Question: Are there any planned outages in shredding facilities? - Management confirmed that there are no unplanned outages in shredding facilities, including the Everett facility [93].

• The following is a reconciliation of the Net Leverage Ratio: | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |---------------------------------------------------------------------------------------------------------------------------------------------|-------|-----------|-----------|-----------|-----------|-------|-----------|------------------|-----------|-----------|-----------|-----------|-----------| | Net Debt to Adjusted EBITDA Ratio ($ in thousands) | | LFQ 1Q2 ...

FORM 10-K Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended August 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from ________ to ________ Commission File Number 000-22496 SCHNITZER STEEL INDUSTRIES, INC. (Exact name of registrant as specified in its charter) OREGON 93-034192 ...

Schnitzer Steel Industries, Inc. (NASDAQ:RDUS) Q4 2023 Earnings Conference Call October 25, 2023 11:30 AM ET Company Participants Michael Bennett - Vice President, Investor Relations Tamara Lundgren - Chairman & Chief Executive Officer Stefano Gaggini - Chief Financial Officer Conference Call Participants Samuel McKinney - KeyBanc Operator Good day, ladies and gentlemen. Thank you for standing by. Welcome to Radius Recycling Fourth Quarter 2023 Earnings Release Call and Webcast. At this time, all participan ...

Safe Harbor We may make other forward-looking statements from time to time, including in reports filed with the Securities and Exchange Commission, press releases, presentations, and on public conference calls. All forward-looking statements we make are based on information available to us at the time the statements are made, and we assume no obligation to update any forward-looking statements, except as may be required by law. Our business is subject to the effects of changes in domestic and global economi ...