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Nov 30, 2024
Schnitzer Q1 2025 Earnings Report
Reported a net loss of $37 million and loss per share of $(1.30) for the first quarter of fiscal year 2025.
Key Takeaways
Radius Recycling reported a net loss of $37 million, with a loss per share of $(1.30) for the first quarter of fiscal 2025. The results were impacted by a detriment on income tax. Contribution from recycled metals improved due to productivity efficiencies and stronger nonferrous demand, offsetting weaker ferrous markets. Finished steel contribution decreased due to weaker domestic market conditions.
Net loss was $(37) million, and loss per share was $(1.30).
Adjusted EBITDA was break-even.
Recycled metals contribution improved due to productivity efficiencies and stronger nonferrous demand.
Finished steel contribution was lower due to weaker domestic steel market conditions and a scheduled maintenance outage.
Forward Guidance
The company expects inventory rebuilding and seasonality to drive improved demand in the second half of the fiscal year. They anticipate positive long-term demand for recycled metals, supported by infrastructure investments, industrial reshoring, growth in U.S. electric arc furnace steelmaking capacity, and the transition to low-carbon technologies
Positive Outlook
- Inventory rebuilding will drive improved demand
- Seasonality will drive improved demand
- Increased investments in infrastructure will drive demand
- Industrial reshoring will drive demand
- Continued growth in U.S. electric arc furnace steelmaking capacity will drive demand
Challenges Ahead
- Market conditions during the quarter were more challenging than a year ago
- Tight scrap environment
- Softer global ferrous markets
- Weaker domestic steel conditions
Historical Earnings Impact
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Avg. Return Before/After Earnings
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