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Radius Recycling Inc. (RDUS+0.21%) has submitted its 10-Q filing for the quarterly period ended February 28, 2025.
The filing includes financial statements for the quarter, indicating a net loss of $32,965,000, compared to a net loss of $34,010,000 in the same quarter of the previous year.
Revenues for the quarter were $642,508,000, an increase from $621,059,000 in the previous year, driven by stronger nonferrous demand and higher sales volumes.
The company reported a gross margin of $27,497,000, down from $40,063,000 in the prior year, due to lower average selling prices and compressed metal spreads.
Selling, general, and administrative expenses decreased to $54,943,000 from $62,160,000, reflecting cost reduction initiatives.
Interest expense increased to $8,771,000 from $5,803,000, attributed to higher borrowings and interest rates.
The effective tax rate for the quarter was a benefit on pre-tax loss of 11.5%, influenced by valuation allowances against deferred tax assets.
Cash provided by operating activities was $18,049,000, compared to cash used of $56,393,000 in the previous year, with improvements in working capital management.
Capital expenditures for the quarter were $23,392,000, focusing on equipment upgrades and environmental projects.
The company announced a merger agreement with Toyota Tsusho America Inc., with an expected completion in the second half of 2025, subject to customary conditions.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Radius Recycling Inc. quarterly 10-Q report dated April 4, 2025. To report an error, please email earnings@qz.com.