Tag: Schnitzer Steel

Radius Recycling continued to bleed red in its most recent quarterly report as it negotiated persistently challenging conditions in the recycled metals market.

Radius Recycling anticipates a wider loss in its fiscal second quarter vs. the first quarter, according to preliminary results.

Radius Recycling reported a net loss in its fiscal first quarter of 2024 on tighter supply flows for recycled metals and lower average selling prices for the company’s products.

Radius Recycling thinks that an end to the UAW strike could relieve pressure on a tight domestic scrap market. Scrap supplies have fallen because of lower manufacturing, construction, and demolition activity as well as “the slowing economy overall,” Radius chairman, president, and CEO Tamara Lundgren said. Inflation and higher interest rates have contributed to that […]

Radius Recycling, formerly known as Schnitzer Steel Industries, reported a loss for its fiscal fourth quarter ended Aug. 31.

Radius Recycling, formerly Schnitzer Steel Industries, said the company’s common stock will start trading on NASDAQ under the symbol ‘RDUS’ at the open of market trading on Sept. 1.

Schnitzer Steel Industries has changed its corporate name to Radius Recycling. The Portland, Ore.-based scrap recycler and long steel producer said on Wednesday it’s part of a rebranding initiative to reflect the company’s “vision, purpose, and impact on the global economy.” “While metals recycling and steel manufacturing have been the foundation of our global business for […]

Schnitzer Steel Industries has changed its corporate name to Radius Recycling.

Schnitzer Steel Industries reported lower earnings in its fiscal third quarter ended May 31 vs. a year earlier, but sequential performance was higher, driven by stronger demand for recycled metals. The Portland, Ore.-based scrap recycler and long steel producer reported net income attributable to shareholders of $13.5 million in its fiscal Q3, down 82% from […]

We are counting down the days until SMU’s Steel Summit Conference on Monday-Wednesday, Aug. 21-23, in Atlanta. It’s only a little over two months away. Approximately 755 people have already registered. Our discounted room blocks are almost gone. Register here. The event will again be held at the Georgia International Convention Center, a massive conference center in close […]

Despite reporting a steep drop in year-over-year (YoY) earnings in its fiscal second quarter, Schnitzer Steel Industries’ sequential results improved on higher sales volumes and average net selling prices for recycled metals. The Portland, Ore.-based scrap recycler and long steel producer posted net income of $4 million in its Q2 2023 ended Feb. 28, down 89% […]

US Steel has been named one of the world’s most ethical companies in 2023 by Ethisphere. The Pittsburgh-based steelmaker said this is the second consecutive year it has been recognized and, out of 135 honorees, is the only integrated steel producer to be chosen. Scrap recycler and long steel producer Schnitzer Steel Industries was also […]

The Steel Manufacturers Association (SMA) has announced the election of Ty Garrison as chairman.  Garrison is senior vice president of operations at Irving, Texas-based Commercial Metals Co. (CMC). He leads operations and commercial teams in the US and Poland, along with supply chain and engineering functions. Garrison joined the CMC commercial team in 2000 and […]

Schnitzer Steel Industries has been named the most sustainable company in the world, according to a media and research organization.  The scrap recycler and long steel producer topped the 19th annual Global 100 List by Corporate Knights, which focuses on corporate sustainability performance. The list is based on an assessment of 6,720 companies, each with […]

Schnitzer Steel Industries Inc. posted a net loss in its first quarter of fiscal 2023 on lower demand and lower average selling prices for recycled metals and finished steel products. The Portland, Ore.-based scrap recycler and long steel producer recorded a net loss of $18 million in its fiscal Q1 ended Nov. 30, 2022. That’s […]

Schnitzer Steel expects to swing to a loss in its fiscal first quarter ended Nov. 30 due to weak demand. In preliminary results released Dec. 19, the Portland, Ore.-based scrap recycler and long steel producer said it expects a net loss in the range of $18–20 million in its 2023 first quarter, on ferrous sales […]

Schnitzer Steel Industries Inc. said its fourth quarter ended Aug. 31 results were negatively impacted by declining ferrous and nonferrous sales prices and demand. The trend partially offsets the benefits of strong prices for its finished steel products. Tighter supply flows and an extended outage at its Everett, Mass., recycling facility were partly to blame […]

Well, earnings season is now well underway. We’ve seen the early reporters like steel processor Worthington Steel (who announced it will be splitting off its steel segment and creating two separate, publicly traded businesses), as well as tube producer Webco, and steel and metal manufacturer Commercial Metals Co. all report strong results in their latest earnings. […]

Supported by high finished steel and scrap prices, Schnitzer Steel Industries Inc. expects its results for full-year fiscal 2022 to be the second best in the company’s history. This week, the Portland, Ore.-based scrap recycler and long steel producer announced its preliminary results for the fourth quarter and fiscal year ended Aug. 31, 2022. Although […]

Schnitzer Steel Industries Inc. is shaking things up. The Portland, Ore.-based recycler and steelmaker has appointed Richard Peach to serve as its executive vice president and chief strategy officer, an expanded role. Peach previously acted as the company’s executive vice president, chief financial officer, and chief strategy officer. Schnitzer has also appointed Stefano Gaggini, currently […]

Schnitzer Steel Industries Inc. posted its best third-quarter earnings on record thanks to high prices and strong demand for both ferrous and nonferrous scrap. The Portland, Ore.-based scrap recycler and long steel producer recorded net income of $76 million in the third quarter of its fiscal 2022 ended May 31, 2022, doubling earnings of $38 […]

Schnitzer Steel Industries Inc. posted its best first half results in company history following a strong second quarter earnings. The result comes thanks to high prices and strong demand for both ferrous and nonferrous scrap. The Portland, Ore.-based scrap recycler and long steel producer recorded net income of $38 million in the second quarter of […]

Schnitzer Steel Industries Inc. posted its best first quarter earnings on record thanks to high prices and strong demand for both ferrous and nonferrous scrap. The Portland, Ore.-based scrap recycler and long steel producer recorded net income of $47 million in the first quarter of fiscal 2022 ended Nov. 30, 2021, more than triple the […]

Schnitzer Steel Industries, Inc., expects to deliver its best fiscal fourth quarter operating performance since 2011 thanks to high prices and strong demand for both ferrous and nonferrous scrap, as well as strong demand for finished steel products. The Portland Ore.-based scrap recycler and long steel producer announced preliminary results for its fourth quarter and […]

Schnitzer Steel Industries Inc. has resumed production at its Cascade Steel Rolling Mills in McMinnville, Ore., following a fire in late May that damaged the facility’s melt shop. The Portland, Ore.-based recycler, which also owns the Oregon mill, said the facility was accepting orders after restarting operations several weeks earlier than expected. “I am proud […]

Schnitzer Steel Industries, Inc., posted its best results in more than a decade in its fiscal third quarter thanks to high prices and strong demand for both ferrous and nonferrous scrap. The Portland, Ore.-based scrap recycler and long steel producer recorded net income of $63.6 million in the third quarter after losing approximately $5 million […]

Schnitzer Steel said it expects ferrous volumes to be better than expected in its fiscal third quarter which ends this month.  The company previously reported guidance of 977,000 long tons for Q3. According to an SEC filing on June 1, a 25% increase over that amount is now anticipated. Finished steel sales volumes for the […]

Schnitzer Steel tripled its net income from first to second quarter FY 2021 to $46 million, supported by robust revenues of $600 million. Strong demand for recycled metals, higher finished steel prices and elevated scrap pricing resulted in expanded metal spreads and operating margins. Net income per ferrous ton increased to $47 from $14 per […]

Schnitzer Steel completed the transition to a consolidated earnings report, posting a net income of $15 million for the first quarter of FY 2021 ending Nov. 30, 2020. Results were a significant increase from net income of $5 million in Q4 FY 2020 and a loss of $7 million a year ago. “We were very […]

Schnitzer Steel, a metals recycler and steel manufacturer, maintained operations throughout the pandemic, navigating though low scrap supply and falling demand and emerging optimistic about the year ahead. “These past seven months have been challenging for all of us,” said Chairman and CEO Tamara Lundgren of Schnitzer Steel. “We have been confronted with cascading crises, […]