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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 Corporation (NYSE: RYI) announced a conference call on May 2, 2023, at 10 a.m. ET, to discuss its first quarter financial results for the period ended March 31, 2023. The earnings report will be released on May 1, 2023, post-market close. Ryerson, a prominent processor and distributor of industrial metals, operates in the United States, Canada, Mexico, and China, employing around 4,200 individuals across approximately 100 locations. Investors can access the live broadcast via the Company's Investor Relations website.
Ryerson Holding Corporation (NYSE: RYI) announced its participation in several upcoming investor conferences. The events include the J.P. Morgan Industrials Conference in New York City on March 15-16, the Bank of America Global Metals, Mining & Steel Conference in Barcelona from May 16-18, and the KeyBanc Industrials & Basic Materials Conference in Boston from May 30 - June 1. CFO Jim Claussen highlighted the company's successful capital structure transformation, having retired $300 million in high-yield debt and returned $120 million to shareholders. Founded in 1842, Ryerson operates in the U.S., Canada, Mexico, and China, employing around 4,200 staff across 100 locations.
On March 2, 2023, Ryerson Holding Corporation (NYSE: RYI) announced its acquisition of BLP Holdings, LLC, which includes three divisions based in Houston, Texas: Absolute Metal Products, Metal Cutting Specialists, and Houston Water Jet. This acquisition aims to enhance Ryerson's high-margin, value-added services in industrial metals, particularly in complex fabrication and toll processing. President Alan Singleton highlighted the strategic importance of this acquisition for diversifying service offerings and strengthening the company's service-center network.
Ryerson Holding Corporation (NYSE: RYI) announced the closing of an underwritten secondary public offering of 2,486,580 shares by an affiliate of Platinum Equity LLC. Ryerson did not sell shares or receive proceeds from this offering. Concurrently, Ryerson repurchased 1,513,420 shares from the Selling Stockholder, funded by cash on hand. This move aims to enhance the public company's share float and distribute ownership more broadly. Over the past year, Ryerson has returned over $120 million to shareholders through dividends and repurchases, while also retiring $300 million of high-yield debt and increasing its quarterly dividend by 70%.
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