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RUSSEL METALS INC - RUSMF STOCK NEWS

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Russel Metals Inc. (Russel Metals or the Company) is one of the largest metals distribution and processing companies in North America. The company primarily distributes steel products across Canada and the United States, serving a wide range of industries with a broad line of metal products. They purchase products from North American steel producers, package them according to customer needs, and provide processing and distribution services. With a focus on value-added processing, metals service centers, energy field stores, and steel distributors are the three principal business segments in which the company operates. The company is committed to ongoing investment initiatives, capital growth, and expanding its business through strategic acquisition opportunities.

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Russel Metals has declared a dividend of CA$0.38 per share, marking its 80th consecutive quarterly payout, payable on March 15, 2022, to shareholders on record by February 28, 2022. As one of North America's largest metals distributors, Russel Metals operates through three main segments: metals service centers, energy products, and steel distributors. The company emphasizes value-added processing, providing a diverse range of metal products, including steel, aluminum, and non-ferrous metals.

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Russel Metals Inc. reported strong financial results for 2021, with annual revenues reaching $4.2 billion and EBITDA of $664 million. The company’s net income surged to $432 million or $6.90 per share, compared to $25 million or $0.39 per share in 2020. The fourth quarter alone generated $1.1 billion in revenue and an adjusted EBITDA of $164 million, fueled by favorable steel market conditions and the acquisition of Boyd Metals. With $495 million in liquidity, Russel Metals aims to continue capital investments and navigate anticipated market volatility in 2022.

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Russel Metals will release its 2021 year-end and fourth-quarter results on February 10, 2022, at 5:00 p.m. ET. An Investor Conference Call with Executive VP and CFO Martin L. Juravsky and President/CEO John G. Reid is scheduled for February 11, 2022, at 9:00 a.m. ET to discuss the results in detail. Investors can access the call via specific dial-in numbers and a replay will be available until February 25, 2022. For more information, contact the Investor Relations department.

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Russel Metals has successfully extended its $450 million credit facility with a bank syndicate until September 21, 2025. This extension includes a more favorable interest rate grid and reflects improved credit ratings, with S&P Global upgrading it to BB+ and DBRS Morningstar initiating a BBB (low) rating. The CFO expressed satisfaction with the support from lenders, enhancing the company's financial flexibility and reducing bank debt costs.

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Russel Metals Inc. (TSX: RUS) has successfully completed the acquisition of Boyd Metals, which operates five service centers across Arkansas, Missouri, Oklahoma, and Texas. This strategic acquisition is expected to enhance Russel's operational platform and expand its market reach. President and CEO John Reid expressed enthusiasm for integrating Boyd's team and resources into Russel Metals. The company focuses on metals distribution and processing, offering a diverse range of products including carbon steel, stainless steel, aluminum, and energy products.

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Russel Metals (TSX: RUS) has declared a dividend of CA$0.38 per share on its common shares, scheduled for payment on December 15, 2021. Shareholders of record as of November 24, 2021 will receive this dividend. This marks the company's 79th consecutive quarterly dividend, highlighting its commitment to returning value to shareholders. Russel Metals operates in three segments: metals service centers, energy products, and steel distributors, providing a diverse range of metal products across North America.

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Russel Metals Inc. has announced the acquisition of Boyd Metals for US$110 million, enhancing its service center footprint in the U.S. South with five locations. Boyd generated US$244 million in revenue and US$39 million in Adjusted EBITDA for the year ending September 30, 2021. The acquisition aligns with Russel’s strategy to enhance returns and margins by expanding its value-added processing capabilities. The transaction will be financed using existing cash and bank facilities. Expected closure is in Q4 2021, pending customary conditions.

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Russel Metals reported strong financial results for Q3 2021, with revenues of $1.1 billion and record net income of $132 million, marking a significant increase from $615 million and $18 million in Q3 2020. EBITDA rose to $196 million compared to $47 million the previous year. The company generated $106 million in cash from operations and maintained liquidity over $600 million. Gross margin improved to 29.8% despite a slight decline from 30.7% in the previous quarter. A quarterly dividend of $0.38 per share was declared, supporting continued shareholder returns.

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Russel Metals will release its 2021 third-quarter results via press release on November 4, 2021, at 5:00 p.m. ET. An Investor Conference Call will follow on November 5, 2021, at 9:00 a.m. ET, hosted by CFO Martin L. Juravsky and CEO John G. Reid. Investors can join the call by dialing 416-764-8688 or 1-888-390-0546. A replay will be available until November 19, 2021, at 416-764-8677 or 1-888-390-0541 with pass code 195655#.

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Russel Metals reported financial results for Q2 2021, revealing revenues of $1.068 billion and record EBITDA of $178 million. This marks a significant increase from $588 million in Q2 2020. Basic earnings per share reached $1.88, up from $0.07 a year earlier. The company maintained $514 million in liquidity and a net debt to invested capital ratio of 10%. The metals service centers segment experienced record profits due to increased demand and higher steel prices. The company also completed a joint venture, improving its OCTG and line pipe operations.

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FAQ

What is the current stock price of RUSSEL METALS (RUSMF)?

The current stock price of RUSSEL METALS (RUSMF) is $29.64 as of December 20, 2024.

What is the market cap of RUSSEL METALS (RUSMF)?

The market cap of RUSSEL METALS (RUSMF) is approximately 1.9B.

What does Russel Metals Inc. do?

Russel Metals Inc. is one of the largest metals distribution and processing companies in North America, primarily distributing steel products across Canada and the United States.

In which regions does Russel Metals Inc. operate?

Russel Metals Inc. services all major geographic regions of Canada and the southeastern and midwestern regions in the United States.

What are the principal business segments of Russel Metals Inc.?

The company operates in three main business segments: metals service centers, energy products, and steel distributors.

From where does Russel Metals Inc. source its products?

Russel Metals Inc. primarily purchases products from North American steel producers and packages and sells them to end users according to their specific needs.

What is Russel Metals Inc.'s approach to capital investment and growth initiatives?

Russel Metals Inc. actively invests in capital expenditures, such as value-added equipment and facility modernization initiatives in Canada and the U.S., to drive growth and expand its business.

How does Russel Metals Inc. return capital to its shareholders?

Russel Metals Inc. returns capital to shareholders through ongoing dividends and share buybacks, providing a balanced and flexible approach to capital allocation.

What are the expectations for steel prices and market conditions according to Russel Metals Inc.?

Russel Metals Inc. expects stable steel prices and improved shipment volumes in the near term, supported by growth in North American steel consumption and ongoing investment initiatives.

When will the Investor Conference Call be held by Russel Metals Inc.?

Russel Metals Inc. will be holding an Investor Conference Call on Friday, February 9, 2024, at 9:00 a.m. ET to review its 2023 fourth quarter results.

What is the latest update on Russel Metals Inc.'s acquisition transaction with Samuel, Son & Co., Limited?

Russel Metals Inc. has received a no-action letter from the Canadian Competition Bureau regarding the transaction with Samuel, Son & Co., Limited, and expects to close the full transaction in the third quarter of 2024, subject to completion of customary closing conditions.

Where can I find more information about Russel Metals Inc.?

For additional information, including financial statements, press releases, and updates, visit Russel Metals Inc.'s website at www.russelmetals.com.

RUSSEL METALS INC

OTC:RUSMF

RUSMF Rankings

RUSMF Stock Data

1.86B
56.84M
0.85%
27.32%
Industrial Distribution
Industrials
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United States of America
Mississauga