Radius Recycling, Inc. has recently released its 10-Q report, providing a detailed overview of its operations and financial performance for the three and six months ended February 28, 2025. The company, founded in 1906 and headquartered in Portland, Oregon, is a major recycler of ferrous and nonferrous metal, including end-of-life vehicles, and a manufacturer of finished steel products. It operates a network that includes 50 retail self-service auto parts stores, 53 metals recycling facilities, and an electric arc furnace steel mill, and sells its products in both foreign and domestic markets.
In the 10-Q filing, the company discussed its operations, which include the acquisition, processing, and recycling of end-of-life vehicles, rail cars, home appliances, industrial machinery, manufacturing scrap, and construction and demolition scrap. It also detailed its retail self-service auto parts stores, metals recycling facilities, and steel mill, as well as its deepwater port locations and its transportation methods for transferring scrap metal between its facilities for further processing and shipping to meet regional and global demand.
The report also highlighted key financial metrics, including the company's quarterly operating results, which fluctuate based on factors such as changes in market conditions for recycled ferrous and nonferrous metal, varying demand for used auto parts, and seasonal changes. The filing also discussed the impact of trade actions, including tariffs, on the company's business and results of operations.
Furthermore, the 10-Q filing mentioned significant events such as the company's merger agreement with Toyota Tsusho America, Inc. and a fire incident at its metals recycling facility in Everett, Massachusetts. Additionally, it included a section on the use of non-GAAP financial measures and provided a reconciliation of adjusted financial measures.
Financial highlights of the second quarter of fiscal 2025 were also presented, including diluted loss per share, adjusted diluted loss per share, net loss, and adjusted EBITDA. The company attributed the financial performance in the second quarter of fiscal 2025 to softer market conditions for recycled ferrous metal and finished steel, leading to lower average net selling prices and compression of metal spreads. It also highlighted selected liquidity and capital structure metrics, such as net cash provided by operating activities and debt levels as of February 28, 2025.
As a result of these announcements, the company's shares have moved -1.1% on the market, and are now trading at a price of $28.81. Check out the company's full 10-Q submission here.
