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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 secondary offering of 3,500,000 shares of common stock initiated by its principal shareholder, an affiliate of Platinum Equity LLC. The proceeds from the offering will go directly to the Selling Stockholder, not Ryerson. Simultaneously, the Company plans a share repurchase of approximately $47.7 million directly from the Selling Stockholder, funded by existing cash. This repurchase is expected to be completed alongside the offering, enhancing shareholder value by reducing share supply.
On May 9, 2022, Ryerson Holding Corporation (NYSE: RYI) announced its investment in FreeFORM Technologies, a firm specializing in metal additive manufacturing and engineering, including 3D printing and metal injection molding. This strategic partnership aims to enhance Ryerson's exposure to emerging manufacturing technologies and provide new value-added capabilities for its customers. FreeFORM, founded in 2020, serves diverse industries and aligns with Ryerson's customer base, marking a significant step in expanding their operational scope in the metals industry.
Ryerson Holding Corporation (NYSE: RYI) reported a record revenue of $1.75 billion for Q1 2022, an increase of 14% sequentially and 52.4% year-over-year. The diluted EPS reached $4.17, marking a 531.8% increase from last year. Net income rose to $163.6 million and adjusted EBITDA, excluding LIFO, was $250.6 million. The company reduced its debt to $551 million with a leverage ratio of 0.5x. Additionally, Ryerson announced a 25% increase in its quarterly dividend to $0.125 per share.
Ryerson Holding Corporation (NYSE: RYI) announced it will host a conference call on May 5, 2022, at 10 a.m. ET to discuss its first quarter 2022 financial results ended March 31, 2022. Earnings will be reported after market close on May 4, 2022. The call will be accessible via the company's investor relations website. Ryerson, a leading distributor of industrial metals with a presence in the U.S., Canada, Mexico, and China, employs around 4,000 people across approximately 100 locations.
On March 2, 2022, Ryerson Holding Corporation (NYSE: RYI) announced its acquisition of substantially all assets of Apogee Steel Fabrication, a seasoned sheet metal fabricator based in Mississauga, Ontario. Apogee, with over 30 years of experience, offers comprehensive fabrication services including sheering, punching, and laser cutting. This acquisition is expected to enhance Ryerson's capabilities in Canada and expand its value-added service centers. Both companies express excitement about the synergy and growth opportunities this merger will bring.
Ryerson Holding Corporation (NYSE: RYI) announced a strong financial performance for Q4 and FY 2021, with record net income of $294.3 million and Adjusted EBITDA of $860.6 million. Q4 revenue reached $1.53 billion, up 79.8% year-over-year. Earnings per diluted share were $2.71 for Q4 and $7.56 for the full year. The company reduced its debt to $639 million, achieving a low leverage ratio of 0.7x. Ryerson declared a dividend increase of 18% to $0.10 per share for Q1 2022, reflecting confidence in its financial health and shareholder returns.
Ryerson Holding Corporation (NYSE: RYI) has appointed Eddie J. Lehner, the current President and CEO, to its Board of Directors, expanding the board from seven to eight members. Lehner, who joined Ryerson in 2012 as CFO and became CEO in 2015, has been praised for his transformative leadership. He expressed gratitude for this new role and emphasized ongoing improvements in Ryerson's financial health and customer experience. Ryerson operates across the U.S., Canada, Mexico, and China, employing around 4,000 staff in approximately 100 locations.
Ryerson Holding Corporation (NYSE: RYI) announced it will host a conference call on February 24, 2022, to discuss its fourth quarter and full-year 2021 financial results. The earnings report will be available after the market closes on February 23. The call will take place at 10 a.m. ET and can be accessed via the company’s investor relations website. Ryerson operates in the U.S., Canada, Mexico, and China, employing around 4,000 people across 100 locations.
Ryerson Holding Corporation (RYI) reported significant Q3 2021 results with revenues of $1.6 billion, an increase of 11.0% from Q2. Earnings per diluted share reached $1.27 while adjusted earnings per share soared to $3.25. The company achieved a record Adjusted EBITDA of $301 million and a gross margin of 23.1%. Notable developments included the acquisition of Specialty Metals Processing and plans to construct two new facilities. Despite a 8.5% increase in net debt to $633 million, Ryerson maintains a leverage ratio of 1.0x.
Ryerson Holding Corporation (NYSE: RYI) will host a conference call to discuss its third quarter 2021 financial results on November 4 at 10 a.m. Eastern Time. The earnings release will be available after market close on November 3. Interested parties can access the call through the company's investor relations website. Ryerson, a major player in industrial metals, operates in the United States, Canada, Mexico, and China, employing around 4,000 people across approximately 100 locations.
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