RYERSON HOLDING CORPORATION - RYI STOCK NEWS

Ryerson Holding Corporation (NYSE: RYI) has announced it will host a conference call on February 25, 2021, at 10 a.m. ET to discuss its fourth quarter and full-year 2020 financial results, which will be released after market hours on February 24. The call can be accessed through the company's investor relations website. Ryerson, a key player in the industrial metals sector since 1842, operates in the U.S., Canada, Mexico, and China, employing approximately 3,900 individuals.

Ryerson Holding Corporation (NYSE: RYI) has announced the appointment of James J. Claussen as the new executive vice president and chief financial officer (CFO), effective January 11, 2021. Claussen, who has been with Ryerson since 2002, previously served as president of Central Steel & Wire Co., acquired by Ryerson in 2018. He brings over 18 years of experience in financial and operational roles within the company. CEO Eddie Lehner expressed confidence in Claussen's qualifications as the company enters a new phase of transformation.

Ryerson Holding Corporation (NYSE: RYI) announced the extension of its $1.0 billion revolving credit facility, marking a step in strengthening its balance sheet and reducing debt costs. This amendment allows Ryerson to use the funds for general corporate needs, including working capital and potential acquisitions. The company anticipates saving between $3 million to $5 million annually in cash interest expenses due to improved financing terms. The facility is secured by the company's inventory and accounts receivable in the U.S. and Canada.

Ryerson Holding Corporation (NYSE: RYI) reported Q3 2020 revenues of $832 million, an increase of 7.7% sequentially, despite a 24.7% decline year-over-year. The company reduced net debt by over $100 million to $692 million, marking the lowest level in over a decade. Adjusted earnings per diluted share reached $0.31, compared to a loss of $0.64 in Q2 2020. However, a net loss of $39.9 million was recorded, influenced by a pension settlement charge. Cash flow from operations increased to $121 million, illustrating effective cash management. Ryerson did not provide guidance for Q4 2020 due to ongoing pandemic uncertainties.

Ryerson Holding Corporation (RYI) will discuss its third quarter 2020 financial results on a conference call scheduled for October 29, 2020, at 10 a.m. ET. The earnings report will be released after the market closes on October 28, 2020. The call will be accessible via the company's investor relations website, and a replay will be available for 90 days. Founded in 1842, Ryerson operates in multiple countries, including the U.S., Canada, Mexico, and China, employing around 3,900 staff across nearly 100 locations.

Ryerson Holding Corporation (RYI) reported significant financial challenges for Q2 2020, including a 35.9% decline in revenues to $772 million and a net loss of $25.6 million. Despite these challenges, the company reduced net debt by $100 million to $793 million and generated $103 million in cash flow from operations. Ryerson successfully refinanced its high-interest debt, reducing expected annual interest expenses by $16 million. The company continues to face market uncertainties amid COVID-19 but has observed positive trends in pricing and demand in early Q3.

On July 22, 2020, Ryerson Holding Corporation (NYSE: RYI) announced the completion of a $500 million offering for its 8.50% Senior Secured Notes due 2028. These notes, priced at 100% of principal, are secured by a first-priority interest in most assets of its subsidiary, Joseph T. Ryerson & Son, Inc. Additionally, a notice of redemption for the 11.00% Senior Secured Notes due 2022 was issued, set for August 21, 2020. This refinancing will reduce annual cash interest expenses by approximately $16 million and enhance liquidity, setting a path for further financial stability amid pandemic challenges.

Ryerson Holding Corporation (NYSE: RYI) announced a private offering of $500 million in 8.50% Senior Secured Notes due 2028 by its subsidiary, Joseph T. Ryerson & Son, Inc. The offering is targeted at qualified institutional buyers and is set to close on July 22, 2020. The notes, priced at 100% principal amount, will be backed by a first-priority security interest in substantially all of JT Ryerson's assets and a second-priority lien on assets related to its credit facility. Proceeds will repay existing 11.00% Senior Secured Notes and cover related expenses.

On July 14, 2020, Ryerson Holding Corporation (NYSE: RYI) announced a proposed offering of Senior Secured Notes due 2028, aiming to generate approximately $500 million in gross proceeds. The notes will be guaranteed by Ryerson and certain subsidiaries, secured by a first-priority interest in substantially all of the subsidiary's present and future U.S. assets. Funds will be used to fully repay existing 11.00% Senior Secured Notes due 2022 and related fees. The offering is intended for qualified institutional buyers and is subject to market conditions.