Schnitzer Steel Industries, Inc. Reports Earnings Results for the Fourth Quarter Ended August 31, 2023
October 25, 2023 at 08:00 am EDT
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Schnitzer Steel Industries, Inc. reported earnings results for the fourth quarter ended August 31, 2023. For the fourth quarter, the company reported sales was USD 717.93 million compared to USD 894.41 million a year ago. Net loss was USD 25.82 million compared to net income of USD 10.35 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.