12:58 PM EDT, 07/02/2024 (MT Newswires) -- Radius Recycling ( RDUS ) shares dropped 8% in recent trading on Tuesday after it posted a swing to fiscal Q3 adjusted loss and a decline in revenue.

The company reported fiscal Q3 adjusted diluted loss of $0.59 per share, compared with adjusted income of $0.67 a year earlier. One analyst expected a normalized loss of $0.45.

Revenue for the quarter ended May 31 was $673.9 million, down from $809.6 million a year earlier. One analyst surveyed by Capital IQ expected $665.8 million.

Radius board kept quarterly cash dividend at $0.1875 per share, payable Aug. 5 to shareholders of record on July 22.

Price: 14.05, Change: -1.24, Percent Change: -8.11