Radius Recycling Reports Q1 Loss In Line With Last Year

(RTTNews) - Schnitzer Steel Industries, Inc. doing business as Radius Recycling (RDUS) Thursday announced a first quarter net loss in line with the same quarter last year. Revenues for the quarter increased for the period.

The quarterly loss was $18 million, compared to $18 million last year. On an adjusted basis, loss was $0.64 per share, compared to $0.64 per share a year ago.

Revenues for the first quarter were $673 million, higher than $599 million in the prior year.

The major manufacturers and exporters of recycled metal products in North America said the first quarter average net selling prices for ferrous, nonferrous, and finished steel products were lower sequentially by 1 percent, 3 percent, and 3 percent, respectively.

Further, the Board declared a cash dividend of $0.1875 per common share, payable February 20, to shareholders on record February 5, 2024.