A.M. Castle & Co. (CAS) Reports Q2 Loss of $0.77/Share
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A. M. Castle & Co. Reports Second Quarter 2016 Results
August 9, 2016 8:02 AM EDTOAK BROOK, Ill., Aug. 09, 2016 (GLOBE NEWSWIRE) -- A. M. Castle & Co. (NYSE: CAS) (the Company or Castle), a global distributor of specialty metal and supply chain solutions, today reported financial results for the second quarter ended June 30, 2016.
Highlights:
Gross material margin improved year-over-year, sequentially and each month of the quarter;Â Excluding closed Houston and Edmonton branches, sales tons per day increased by 5% from the first quarter 2016 and roughly 1% from the second quarter 2015;Operating expenses were $44.3 million in the second quarter 2016, compared to $70.2 million in the second... MoreA. M. Castle & Co. and Duferco Steel, Inc. Announce Ownership Transfer of Kreher Steel Business
August 8, 2016 5:51 PM EDTOAK BROOK, Ill., Aug. 08, 2016 (GLOBE NEWSWIRE) -- A. M. Castle & Co. (NYSE: CAS) (Castle), a global distributor of specialty metal and supply chain solutions, and Duferco Steel, Inc. (Duferco), an international steel and steel-making raw materials commodities trading organization, jointly announced today that the two companies have reached an agreement by which Castle will sell its 50% joint venture ownership in the partners Kreher Steel business (Kreher), to Duferco. Upon completion of this transaction, which is subject to customary closing and documentation conditions, Duferco will become the 100% owner of Kreher. Castle will receive approximately $31.6... More
