The company anticipates revenue of $142 million, which would beat the Capital IQ consensus estimate of $141.86 million. Metalico expects operating income to rise to a range of $2 million to $2.5 million, compared to a loss of $2 million in the same period one year ago. The company cited benefits from increased non-ferrous volumes and improvement in related margins in the second quarter this year.
Metalico also expects EBITDA to more than double to a range of $6.8 million to $7.2 million, up from $2.6 million in the same quarter last year.
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The stock was up 30.17% to $1.58 at 2:30 p.m. More than 1.9 million shares had changed hands, compared to the average volume of 141,769.
TheStreet Ratings team rates METALICO INC as a "sell" with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate METALICO INC (MEA) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, poor profit margins, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share."