A.M. Castle moves up on a mixed Q2 report but signs of life in its restructuring

AM Castle (CAS +8.2%) climbs after reporting a Q2 that missed on revenue but beat on a per share basis as cash flows improved and the company reaped cost savings from its restructuring.

CEO Scott Dolan said in its statement that, in terms of market demand, its outlook for H2 is comparable to what it's seen in the first six months of the year.

Net sales in its metals segment declined 20.7% Y/Y, 10.2% Q/Q.

Plastics sales rose 5.6% Y/Y, but declined 1.1% Q/Q.

Gross material margins were 26.3%, compared to 25.0% in Q1 and 26.9% in the same quarter last year.

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