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Ryerson Holding Corporation (NYSE: RYI) is a leading value-added processor and distributor of industrial metals. Established in 1842 and headquartered in Chicago, Ryerson operates in the United States, Canada, Mexico, and China, employing approximately 4,600 individuals across 114 locations.
Ryerson provides a comprehensive range of industrial metals, including stainless steel, aluminum, carbon steel, alloy steels, and a limited selection of nickel and red metals. These materials are available in various shapes and forms, catering to customers ranging from small, independently owned fabricators and machine shops to large, international original equipment manufacturers.
The company's core business revolves around its robust metals service centers which offer value-added processing and distribution services. These centers are strategically located to optimize delivery times and reduce costs for customers. Ryerson's recent projects include the integration and expansion of service centers in University Park, Illinois, Las Vegas, Nevada, and Shelbyville, Kentucky. In addition, the company continuously invests in modernizing its operations through advanced technologies and systems like Enterprise Resource Planning (ERP) to enhance efficiency and customer experience.
Ryerson’s financial health remains strong, with the company generating substantial revenue from metal product sales primarily in the United States. Despite facing market fluctuations, Ryerson has maintained a stable gross margin and demonstrated prudent debt management. The company’s liquidity remains robust, supported by significant cash reserves and revolving credit facilities.
Recent achievements include the acquisition of Hudson Tool Steel Corporation, enhancing Ryerson's portfolio in tool steels. Notable financial metrics from the latest reports indicate revenue of $1.24 billion for Q1 2024, with a forecasted increase in shipments and stable market prices.
In terms of shareholder relations, Ryerson has returned significant value through dividends and share repurchase programs. The company recently declared a quarterly cash dividend of $0.1875 per share and has actively repurchased shares to enhance shareholder value.
Ryerson continues to focus on strategic growth and operational excellence, leveraging its extensive network and industry expertise. The company is well-positioned to navigate market cyclicality and capitalize on growth opportunities in the industrial metals sector.
Ryerson Holding (NYSE: RYI) reported Q3 2024 results with revenue of $1.13 billion from 485,000 tons shipped. The company incurred a net loss of $6.6 million, or $0.20 per diluted share. Key highlights include $134.6 million in operating cash flow and $103.4 million in free cash flow. The company returned $42.0 million to shareholders through share repurchases ($36.0 million) and dividends ($6.0 million). Ryerson reduced inventory by $80.8 million and ended the quarter with debt of $522 million and net debt of $487 million.
Ryerson Holding (NYSE: RYI), a leading value-added processor and distributor of industrial metals, has announced its upcoming third quarter 2024 earnings call. The call is scheduled for Wednesday, October 30th at 10 a.m. Eastern Time. Ryerson will release its financial results for the period ended September 30, 2024, after market close on Tuesday, October 29th.
Investors can access the live online broadcast on Ryerson's Investor Relations website, ir.ryerson.com. For those unable to attend, an online replay will be available on the same website for 90 days following the call. The conference call dial-in numbers are 888-256-1007 (U.S. & Canada) and 929-477-0448 (International), with the conference ID 3996427.
Ryerson, founded in 1842, operates in the United States, Canada, Mexico, and China, employing around 4,400 people across over 110 locations.
Ryerson Holding (NYSE: RYI), a leading industrial metals processor and distributor, has acquired Production Metals, , a Connecticut-based distributor of aluminum, stainless, and specialty steels. This acquisition aims to strengthen Ryerson's value-added offerings in the Northeastern United States and across its network of service centers.
Production Metals serves the aerospace, defense, and semiconductor markets, offering bar, tube, sheet, and plate products along with precision sawing, lasering, and water jet cutting services. The company's reputation for service aligns with Ryerson's commitment to customer experience, while its precision cutting capabilities enhance Ryerson's value-added business.
Ryerson Holding (NYSE: RYI) reported Q2 2024 results with net income of $9.9 million and Adjusted EBITDA of $42.6 million. Key highlights include:
- Revenue of $1.23 billion from 508,000 tons shipped
- Diluted EPS of $0.29
- Reduced operating expenses by $17.8 million
- Returned $20.4 million to shareholders through share repurchases and dividends
- Increased share repurchase authorization by $50 million
- Announced Q3 2024 dividend of $0.1875 per share
The company faced challenges from a compressed pricing environment and declining industry demand but saw improvements in tons sold, reduced expenses, and inventory levels. Ryerson updated its annualized cost reduction expectations to $60 million from $40 million previously announced.
Ryerson Holding (NYSE: RYI) announced it will host a conference call to discuss its second quarter 2024 financial results on Wednesday, July 31, 2024, at 10 a.m. Eastern Time. The call will be available on the company's Investor Relations website, with an earnings report set to be released after market close on Tuesday, July 30, 2024. Participants can join via dial-in numbers provided for U.S. & Canada and international callers. An online replay will be available for 90 days post-call. Ryerson, a key player in processing and distributing industrial metals, operates in the U.S., Canada, Mexico, and China, employing approximately 4,400 individuals across 114 locations.
Ryerson Holding (NYSE: RYI) reported Q1 2024 results with $1.24 billion in revenue, net loss of $7.6 million, and adjusted EBITDA of $40.2 million. The company started operations at University Park, IL, completed ERP integration at 17 service centers, and announced $40 million in cost reductions. Debt increased to $497 million with net debt of $455 million. Liquidity improved to $684 million. Ryerson's outlook for Q2 2024 includes a 1-3% increase in customer shipments and net sales ranging from $1.25-$1.29 billion.
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