Metalico hit by dip in ferrous scrap prices

Nov 04, 2005 | 05:20 AM | Paul Schaffer

Third-quarter operating earnings by Metalico Inc.'s scrap metal segment weakened as ferrous scrap selling prices fell 24 percent from year-earlier levels, although nonferrous selling prices rose 12 percent.

METALICO INC.(in thousands except per share) 200520043rd qtr. ended Sept. 30Net sales$41,546$27,362Net income$1,825$1,924Per share0.070.089 months ended Sept. 30Net sales$122,742$75,988Net income$4,634$4,828Per share0.190.21Scrap metal revenue climbed 9 percent to $22 million in the three months ended Sept. 30, but operating earnings were down 25 percent to $2.6 million. The upstate New York yards' physical volumes were up 23 percent for ferrous and 15 percent for nonferrous, the Cranford,....





Latest Pricing Trends

Poll

Is severe weather affecting your business?

Yes
No


View previous results

AMM Events