Welcome to our dedicated page for RYERSON HOLDING CORPORATION news (Ticker: RYI), a resource for investors and traders seeking the latest updates and insights on RYERSON HOLDING CORPORATION stock.
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.
On February 24, 2023, Ryerson Holding Corporation (NYSE: RYI) announced the pricing of a secondary public offering of 2,486,580 shares of its common stock by a principal shareholder, an affiliate of Platinum Equity LLC. The Company will not receive proceeds from this offering, which is expected to close around February 28, 2023. Additionally, Ryerson plans to repurchase 1,513,420 shares from the Selling Stockholder under a separate agreement, funded by cash on hand. J.P. Morgan will act as the sole underwriter for the offering. The offering documents are available via the SEC's EDGAR database.
On February 24, 2023, Ryerson Holding Corporation (NYSE: RYI) announced a secondary offering of 2,486,580 shares by its principal shareholder, an affiliate of Platinum Equity LLC. All proceeds from this offering will go to the Selling Stockholder, as Ryerson will not receive any funds. Concurrently, Ryerson plans to repurchase 1,513,420 shares from the Selling Stockholder, expected to be funded with cash on hand. This buyback is anticipated to enhance shareholder value, reflecting the company's strategy to manage its equity structure effectively.
Ryerson Holding Corporation (NYSE: RYI) reported strong results for Q4 2022 and full-year 2022. Full-year net income reached a record $391 million with revenue of $6.3 billion. Despite a fourth-quarter revenue decline of 16.5% to $1.3 billion and a diluted EPS loss of $0.65, the company generated substantial operating cash flow of $501 million. Ryerson successfully reduced total debt from $639 million to $367 million, enhancing financial flexibility. Notably, the quarterly dividend increased by 6.3% to $0.17 per share. The company remains optimistic about 2023, expecting improved margin and demand conditions.
Ryerson Holding Corporation (NYSE: RYI) has announced it will host a conference call on February 23, 2023, at 10 a.m. ET to discuss its fourth quarter and full-year 2022 financial results. The earnings report will be released shortly before the call, on February 22. The live broadcast can be accessed via the Company's Investor Relations website. Established in 1842, Ryerson operates in the U.S., Canada, Mexico, and China, with around 4,000 employees across approximately 100 locations.
Ryerson Holding Corporation (NYSE: RYI) reported Q3 2022 results with a revenue of $1.54 billion, down 11.5% from Q2 2022. The net income was $55.1 million, translating to $1.46 diluted EPS, compared to $196.4 million or $5.10 EPS in Q2 2022. Despite a strong operating cash flow of $151.6 million and a 7% dividend increase, gross margins declined significantly to 17.6%. Ryerson reduced its total debt to $477 million and completed acquisitions of Howard Precision Metals and Excelsior, Inc. Outlook for Q4 anticipates continued revenue declines from $1.25 billion to $1.30 billion.
On November 1, 2022, Ryerson Holding Corporation (NYSE: RYI) announced the acquisition of Excelsior, Inc., a fabrication and machining firm based in Fresno, California. Excelsior offers advanced processing services including laser cutting and complex assemblies. This acquisition aims to enhance Ryerson's value-added service capabilities in the Western United States, improving customer experiences and expanding their metal processing solutions. The acquisition is expected to leverage Excelsior's reputation for customer service and expertise, reinforcing Ryerson's market presence.
Ryerson Holding Corporation (NYSE: RYI) will host a conference call on November 3, 2022, at 10 a.m. ET to discuss its third quarter 2022 financial results, which will be reported after market close on November 2, 2022. The call will be accessible via the company's Investor Relations website. Founded in 1842, Ryerson is a prominent distributor of industrial metals with operations across the U.S., Canada, Mexico, and China, employing around 4,000 people across 100 locations.
Ryerson Holding Corporation (NYSE: RYI) announced its inaugural Investor Day to be held on November 8, 2022, at 2:00 p.m. ET at the New York Stock Exchange. This event marks 180 years of continuous operation for Ryerson, a leading processor and distributor of industrial metals. Attendees will gain insights into the company’s financial transformation, strategic plans, and capital allocation. A Q&A session will follow, featuring executives like Eddie Lehner and Jim Claussen. Registration is open for both in-person and virtual attendees at ryersoninvestorday.com.
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