Core Insights - Radius Recycling, Inc. reported a net loss of (1.30) for the first quarter of fiscal 2025, significantly worse than the prior year's loss of (0.64) per share, primarily due to a negative impact from income tax [2][5][11] - Adjusted EBITDA was break-even, down from 657 million, a decrease from 771 million in the previous quarter [6][15] - The gross margin was 39 million year-over-year and 57 million [3][6] Market Conditions - The company experienced a 12% increase in average net selling prices for nonferrous metals, which helped offset a 5% decline in average net ferrous prices due to weaker global market conditions [3][4] - Finished steel contributions declined due to a 7% drop in average net selling prices and lower mill utilization, which was reported at 81%, down from 95% in the prior year [3][4][9] Operational Highlights - The company’s ferrous sales volumes were 1,106 thousand LT, down from 1,152 thousand LT in the prior year [6][16] - Nonferrous sales volumes were 177 million pounds, a decrease from 182 million pounds year-over-year [6][16] - The company declared a cash dividend of $0.1875 per common share, marking the 123rd consecutive quarterly dividend [12][16] Strategic Outlook - The CEO indicated expectations for improved demand in the second half of the fiscal year due to inventory rebuilding and seasonality [5] - Long-term demand for recycled metals is anticipated to remain positive, driven by infrastructure investments and the transition to low-carbon technologies [5]
Radius Recycling Reports First Quarter Fiscal 2025 Financial Results