JFrog stock rises as Cantor Fitzgerald maintains Overweight rating after strong Q2
Radius Recycling, Inc. (NASDAQ:RDUS), a $338 million market cap company whose stock has declined over 51% in the past year, conducted its annual meeting of shareholders on January 28, 2025, where several key proposals were voted upon, including the election of directors and executive compensation.
According to InvestingPro analysis, the company currently maintains a Fair overall financial health rating, though it faces some operational challenges. Shareholders elected Rhonda D. Hunter, David L. Jahnke, and Leslie L. Shoemaker as Class I directors, with terms expiring at the 2028 annual meeting. Additionally, Mauro Gregorio was elected as a Class III director with a term expiring at the 2027 annual meeting.
The shareholders approved the advisory resolution on executive compensation as disclosed in the company’s proxy statement. The vote results showed 18,949,237 votes for, 3,285,070 against, and 39,590 abstentions. There were 1,592,406 broker non-votes on this proposal.
Furthermore, the shareholders ratified the selection of PricewaterhouseCoopers LLP as the company’s independent registered public accounting firm for the fiscal year ending August 31, 2025. The ratification received a significant majority of 22,822,562 votes for, 1,007,739 against, and 36,002 abstentions.
The election results for the directors were as follows: Mauro Gregorio received 21,858,275 votes for and 415,622 withheld with 1,592,406 broker non-votes. Rhonda D. Hunter had 21,604,506 votes for, 669,391 withheld, and the same number of broker non-votes. David L. Jahnke garnered 21,258,386 votes for, 1,015,511 withheld, alongside the broker non-votes. Lastly, Leslie L. Shoemaker received 21,711,673 votes for, 562,224 withheld, and 1,592,406 broker non-votes.
The company, which is based in Portland, Oregon, and operates under the Wholesale-Misc Durable Goods sector, has undergone several name changes in its history, with the most recent being from Schnitzer Steel Industries, Inc. to Radius Recycling, Inc.
This information is based on a press release statement filed with the Securities and Exchange Commission on January 31, 2025, detailing the outcomes of the company’s annual meeting.
In other recent news, Radius Recycling’s Q4 2024 earnings report showed a significant shortfall from expectations. The company’s EPS was reported at -1.33, a stark contrast to the projected -0.435. Additionally, revenue slightly fell short of forecasts, coming in at $656.54 million as opposed to the anticipated $661.7 million. Despite these setbacks, the company achieved significant cost savings and increased sales volumes across its product lines.
On the other hand, high net debt and a negative effective tax rate remain concerns. The company remains optimistic about future prospects, anticipating benefits from U.S. interest rate reductions and improved manufacturing activity. Radius Recycling projects FY2025 CapEx at approximately $80 million, with 20% allocated for growth projects.
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