Metalico in black as nonferrous shipments grow

Aug 13, 2014 | 12:40 PM | Lisa Gordon

Tags  metal recycler, ferrous scrap, nonferrous scrap, Carlos Agüero, Metalico, earnings report, Lisa Gordon

PITTSBURGH — Metalico Inc. returned to profitability in the second quarter amid higher nonferrous shipments, rising metal margins and ongoing cost control efforts.

"Our results confirm business improvement on multiple fronts. We continue to maintain disciplined scrap buying practices, which has increased metal margins," president and chief executive officer Carlos E. Agüero said in the company’s earnings report. "Ferrous shipments were the second-highest ever and nonferrous shipments surpassed our previous record by a significant quantity despite unimpressive commodity selling prices."....

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