Welcome to our dedicated page for Ryerson Hldg news (Ticker: RYI), a resource for investors and traders seeking the latest updates and insights on Ryerson Hldg stock.
Ryerson Holding Corp (RYI) provides essential metals processing and distribution services across North America and China. This news hub offers investors and industry professionals centralized access to official updates and analysis on this 180-year-old industrial metals leader.
Track RYI's latest developments including earnings reports, strategic partnerships, operational expansions, and market positioning within the cyclical metals sector. Our curated feed ensures timely access to press releases covering inventory management innovations, sustainability initiatives, and value-added processing advancements.
Key focus areas include stainless steel/aluminum market trends, supply chain optimization efforts, and service center network updates. Bookmark this page for unfiltered access to Ryerson's financial communications, leadership announcements, and material developments impacting the global manufacturing sector.
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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