Radius Recycling Q2 Loss Narrows On Increased Revenue

(RTTNews) - Radius Recycling, Inc. (RDUS), a recycler of ferrous and nonferrous metals, Friday reported net loss from continuing operations of $33 million or $1.15 per share for the second quarter, lower than $34 million or $1.19 per share loss in the same quarter a year ago.

Excluding one-time items, adjusted loss per share from continuing operations was $0.99, that beat the average analysts' estimates of $1.01 loss per share. Analysts' estimates typically exclude special items.

Adjusted EBITDA, or adjusted earnings before interest, taxes, depreciation, and amortization was about break-even in the second quarter, compared to $3 million in the prior year second quarter.

Revenue for the quarter grew to $643 million from $621 million in the previous year. The consensus estimate was for $635.94 million.

The company's Board has declared a dividend of $0.1875 per share, payable on May 5 to shareholders of record on April 21.