Schnitzer Steel Industries, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended May 31, 2023
June 27, 2023 at 08:00 am EDT
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Schnitzer Steel Industries, Inc. reported earnings results for the third quarter and nine months ended May 31, 2023. For the third quarter, the company reported sales was USD 809.61 million compared to USD 1,010.09 million a year ago. Net income was USD 13.46 million compared to USD 74.63 million a year ago. Basic earnings per share from continuing operations was USD 0.49 compared to USD 2.65 a year ago. Diluted earnings per share from continuing operations was USD 0.48 compared to USD 2.52 a year ago. Basic earnings per share was USD 0.48 compared to USD 2.65 a year ago. Diluted earnings per share was USD 0.47 compared to USD 2.52 a year ago.
For the nine months, sales was USD 2,164.29 million compared to USD 2,591.4 million a year ago. Net income was USD 0.025 million compared to USD 158.45 million a year ago.
Radius Recycling, Inc., formerly Schnitzer Steel Industries, Inc., is a manufacturer and exporter of recycled metal products. The Company also operates a third-party recycling (3PR) service, which includes materials management, reverse logistics, railcar dismantling, and vehicle recycling services. The Company operates scrap recycling facilities in 25 states, western Canada, and Puerto Rico. It has 54 metals recycling facilities, including seven shredding operations. The Companyâs integrated operating platform also includes 50 stores which sell serviceable used auto parts from salvaged vehicles and receive over four million annual retail visits. Its steel manufacturing operations produce finished steel products, including rebar, wire rod, and other specialty products. The Company has seven deep water export facilities located on both the East and West Coasts and in Hawaii and Puerto Rico. The Company's subsidiaries include Auto Parts Group Southwest, LLC, Edman Corp., and others.
RADIUS RECYCLING, INC. 
