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Portland, Oregon-based Radius Recycling Inc. has reported a net loss of $16 million in its fiscal year 2025 third quarter, which ran from March 1 to May 31.
Although Radius has reported eight consecutive unprofitable financial quarters, the recent $16 million loss is less than the $33 million it lost in the prior quarter or the $199 million it lost in the third quarter of its 2024 fiscal year.
The company, which operates more than 50 metals recycling facilities, 50 Pick-N-Pull auto salvage locations and an electric arc furnace steel mill, is in the process of being acquired by Toyota Tsusho America Inc. (TAI), a United States-based business unit of the Japanese Toyota Group conglomerate.
In the March to May time frame, Radius also has reported an adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) figure of $22 million, which it calls “a significant improvement from approximately break-even in the prior quarter.”
Radius says the biggest drivers of the sequential performance improvement were significantly higher sales volumes for all the company’s products, stronger nonferrous and finished steel market conditions and prices, and higher auto parts retail sales.
Nonferrous scrap demand was strong this spring, “especially in the domestic market,” according to Radius, driving average net selling prices up by 7 percent compared with the prior quarter.
Radius says its nonferrous sales volumes increased by 23 percent, “supported by seasonally higher supply flows and higher yields from the company’s metal recovery technology investments.”
Ferrous sales volumes were 4 percent higher this spring compared with the winter months, which Radius says was driven by “seasonality on supply flows.”
Average net selling prices for its ferrous scrap rose by 3 percent in the spring quarter compared with the prior December 2024 through February 2025 winter quarter. “Domestically, ferrous demand and prices rose in March on mill restocking activity, before decreasing significantly in the remainder of the quarter on macroeconomic uncertainty,” states the firm.
Radius says conditions in its ferrous export market were weaker, adding that demand was “impacted by increased levels of Chinese semi-finished and finished steel exports, compounded by the uncertain macroeconomic environment.”
The company says its finished steel sales volumes increased 15 percent quarter on quarter, driven by what Radius calls seasonally stronger construction activity amid continued healthy demand in the company’s western United States market.
Regarding its pending merger, Radius says it held a special meeting of shareholders June 5, at which the company’s shareholders approved the proposed merger agreement with TAI.
Radius says the closing of the merger remains subject to “the satisfaction or waiver of customary closing conditions [and] the receipt of certain regulatory approvals” but anticipates its acquisition by TAI will be completed later this year.
The recycling firm says it does not intend to hold a conference call to review its most recent earnings report, saying that decision is “a result of the pending merger with TAI.”
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