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Feb 28, 2025
Schnitzer Q2 2025 Earnings Report
Radius Recycling reported a net loss and slightly lower operating performance due to pricing pressures despite higher sales volumes in Q2 FY25.
Key Takeaways
Radius Recycling posted a net loss of $33 million in Q2 FY25 as lower global ferrous and finished steel prices weighed on results. Adjusted EPS improved slightly from the previous year. Ferrous and finished steel sales volumes increased, and SG&A costs were reduced through productivity initiatives.
Reported revenue was $642.5 million, up from $621.1 million in Q2 FY24.
Net loss was $33 million, slightly narrower than the $34 million loss in the prior-year quarter.
Adjusted EPS improved to -$0.99 from -$1.04 year-over-year.
Mill utilization rose to 88% compared to 81% in Q2 FY24.
Forward Guidance
The company expects continued volatility in global ferrous and steel pricing due to international trade dynamics and macroeconomic conditions, but anticipates operational improvements from ongoing productivity efforts and benefits from recent merger developments.
Positive Outlook
- Expected benefits from continued productivity initiatives
- Higher domestic ferrous scrap prices indicating margin recovery potential
- Strong finished steel demand in Western U.S. markets
- Stabilizing inventory levels improving working capital
- Merger with Toyota Tsusho America expected to close in H2 2025
Challenges Ahead
- Global ferrous and steel prices remain under pressure
- Elevated Chinese steel exports affecting pricing dynamics
- Tight scrap flows due to winter weather conditions
- Temporary spread compression on export sales
Historical Earnings Impact
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Avg. Return Before/After Earnings
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