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Radius Recycling Reeling, Stock Slides After Q3 Sales Miss: Details

Radius Recycling, Inc. (NASDAQ:RDUS) shares are trading lower after the company reported worse-than-expected third-quarter sales results. Revenue stood at $674 million, missing the consensus of $693.9 million. Ferrous sales volumes (LT, in thousands) decreased to 1,112 from 1,157 a year ago; adjusted EBITDA per ferrous ton sold ($/LT) was $8 compared to $48 in the prior year quarter. Average net ferrous sales prices ($/LT) fell to $350 from $413 last year. Finished steel average net sales price ($/ST) came in at $817 (vs. 924 a year ago), and sales volumes (ST, in thousands) of 126 (vs. ...