Radius Recycling Posts Loss From Cont. Ops. In Q3

(RTTNews) - Radius Recycling, Inc. (RDUS) posted a third quarter loss from continuing operations of $198.49 million compared to net income of $13.84 million, last year. Loss per share from continuing operations was $6.97 compared to profit of $0.48. The company noted that its results included a goodwill impairment charge of $216 million or $6.21 per share net of taxes. Adjusted loss per share from continuing operations was $0.59 compared to profit of $0.67. Analysts polled by Thomson Reuters expected the company to report a loss per share of $0.66, for the quarter. Analysts' estimates typically exclude special items.

Revenues declined to $673.92 million from $809.61 million, last year. Analysts on average had estimated $693.9 million in revenue.

The Board declared a cash dividend of $0.1875 per common share, payable August 5, 2024 to shareholders of record on July 22, 2024.

Shares of Radius Recycling are down 8% in pre-market trade on Tuesday.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.