Welcome to our dedicated page for Radius Health news (Ticker: RDUS), a resource for investors and traders seeking the latest updates and insights on Radius Health stock.
Radius Recycling, Inc. (formerly Schnitzer Steel Industries, Inc.) has been a frequent subject of corporate, financial, and transaction-related news due to its role in metals recycling and steel manufacturing and its transition from a public company to a wholly owned subsidiary of Toyota Tsusho America, Inc. News coverage for the former Nasdaq-listed symbol RDUS includes quarterly and annual financial results, operating updates, and major corporate events.
Company earnings releases have provided details on ferrous and nonferrous sales volumes, finished steel volumes, average net selling prices, rolling mill utilization, and adjusted EBITDA. These reports explain how changes in global ferrous and finished steel prices, nonferrous demand, scrap availability, and productivity initiatives have affected margins and profitability. They also highlight the company’s cost reduction and productivity programs, investments in advanced metal recovery technologies, and expansion of its recycling services platform.
News items have also covered governance and leadership developments, such as the appointment of a chief operating officer and new board members, reflecting ongoing attention to operational performance and strategic direction. In addition, Radius has regularly announced quarterly cash dividends, noting a long history of paying dividends since its initial public offering.
A major focus of recent news has been the definitive merger agreement under which Toyota Tsusho America, Inc. agreed to acquire Radius Recycling, Inc. Press releases and subsequent SEC filings describe the agreed cash consideration for Radius shareholders, the rationale for combining the businesses, and the expectation that Radius would continue to operate from its Portland, Oregon headquarters with its brands and facilities retained. Later news documented the receipt of required regulatory approvals, shareholder approval, and the closing of the merger.
Following completion of the transaction and the delisting and deregistration of RDUS, this news page functions as an archive of historical announcements, financial updates, and corporate actions related to Radius Recycling, Inc. during its period as a publicly traded company.
Radius Recycling (NASDAQ: RDUS) has appointed Mauro Gregorio as a new independent director, effective November 1, 2024. Gregorio, the former President of Performance Materials & Coatings Division at Dow, will serve on the Audit Committee and Compensation and Human Resources Committee. With a 40-year career at Dow, he led the Dow Corning integration, managed feedstock and energy operations, and oversaw Latin American operations. He holds a BS in Chemical Engineering and an MBA, and currently serves on Eagle Materials' board. The appointment expands Radius' board to eight members.
Radius Recycling (NASDAQ: RDUS) reported Q4 and fiscal 2024 results with a net loss of $(16) million, or $(0.56) per share, showing improvement from Q3. Q4 Adjusted EBITDA reached $17 million, nearly double compared to Q3. The company saw significant sequential improvements with ferrous sales volumes up 12%, nonferrous sales volumes up 13%, and finished steel sales up 11%. Performance was driven by stronger nonferrous market conditions, expanded recycled metal spreads, and benefits from the $70 million annual cost reduction program. The Board declared a quarterly dividend of $0.1875 per share.
Radius Recycling (NASDAQ: RDUS) has announced the date for its fourth quarter and fiscal 2024 earnings report. The company will release its financial results on Thursday, October 24, 2024, for the period ended August 31, 2024. A webcast conference call is scheduled for 11:30 a.m. Eastern Time on the same day to discuss the results.
Investors can access the webcast and accompanying slide presentation on the company's website at www.radiusrecycling.com/company/investors. The call will be hosted by Tamara Lundgren, Chairman and CEO, and Stefano Gaggini, Senior VP and CFO.
Radius Recycling (NASDAQ: RDUS) reported its financial results for Q3 fiscal 2024, ending May 31, 2024. The company experienced a net loss of $199 million, translating to a loss per share of $(6.97), attributed mainly to a $216 million non-cash goodwill impairment charge. Adjusted EBITDA improved to $9 million from $3 million in the prior quarter, driven by higher nonferrous and ferrous sales volumes and productivity improvements, though offset by lower ferrous prices. Adjusted loss per share was $(0.59), improving from $(1.04) in Q2. Nonferrous sales prices rose by 10%, while ferrous prices declined by 9%, reflecting divergent market trends. Rolling mill utilization increased to 88% from 81% in the prior quarter. The Board declared a quarterly dividend of $0.1875 per share, payable on August 5, 2024. The company also announced an amendment to its credit agreement, providing relaxed financial covenants and secured revolving credit facilities up to $800 million.
Radius Recycling (NASDAQ: RDUS) will announce its financial results for the third quarter of fiscal 2024, which ended on May 31, 2024, on July 2, 2024. A webcast conference call to discuss the results is scheduled for the same day at 11:30 a.m. Eastern Time. The webcast and accompanying slide presentation can be accessed via the company's investor relations webpage. The call will be hosted by Chairman and CEO Tamara Lundgren, along with Senior VP and CFO Stefano Gaggini.
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