However, the nonferrous sales volumes were down marginally by 1% year-on-year.
SEATTLE (Scrap Monster): Portland, Oregon- headquartered Radius Recycling Inc. reported results for the second quarter of fiscal 2025 ended February 28, 2025.
In the second quarter of fiscal 2025, the firm recorded a net loss of $33 million and a loss from continuing operations of $1.15 per share. This contrasts with a continuing operations loss of $1.19 per share and a net loss of $34 million in the second quarter of the previous year. During the quarter, the adjusted loss per share from continuing operations was $0.99, and the adjusted EBITDA was about break-even.
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The reduced global ferrous and finished steel prices were the primary reason for the lower operating performance in the second quarter of fiscal 2025. Ferrous average net selling prices were 14% lower year-over-year, while ferrous sales volumes increased by 12% year-over-year. In contrast, nonferrous average net selling prices increased by 14% over the previous quarter, but nonferrous sales volumes decreased by 1% year-over-year.
A cash dividend of $0.1875 per common share was announced by the company's Board of Directors and will be paid to shareholders of record on April 21, 2025, on May 5, 2025.
Furthermore, Radius Recycling Inc. declared that it will present the second quarter earnings via a webcast or conference call.
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