Ryerson Hldg Corp Stock Price, News & Analysis

Ryerson Holding Corporation (NYSE: RYI) announced the signing of a lease for a 900,000-square-foot state-of-the-art service center in University Park, IL. This facility will serve as the headquarters and operational hub for its subsidiary, Central Steel & Wire (CS&W). The modern facility aims to enhance customer experience across a broad geographical area. CS&W president Jack Barger emphasized the commitment to the CS&W brand, which has a legacy of over 110 years.

Ryerson Holding Corporation (NYSE: RYI) has acquired Specialty Metals Processing (SMP), a toll processor based in Stow, Ohio. The acquisition enhances Ryerson's capabilities in processing stainless steel, aluminum, titanium, and nickel alloys, catering to industries such as aerospace. Ryerson's President, Eddie Lehner, emphasized that this move strengthens their value-added processing services, particularly in stainless products. The integration of SMP's expertise in flat roll polishing is expected to improve customer experience across Ryerson's network of service centers.

Ryerson Holding Corporation (NYSE: RYI) has announced the construction of a new service center in Centralia, Washington, expected to be completed by Q2 2022. This 214,000-square-foot facility aims to enhance Ryerson's processing capabilities and improve service to customers in the Pacific Northwest. The strategic location will serve the I-5 corridor and surrounding areas. CEO Eddie Lehner emphasized the commitment to modernizing their network to create better customer experiences and job opportunities in Centralia. The investment is poised to drive growth in the region's metal processing market.

Ryerson Holding Corporation (RYI) reported strong second quarter 2021 results, achieving revenues of $1.4 billion, up 83.9% year-over-year. Earnings per diluted share surged to $2.91 from $0.66 in Q1 2021. The company realized record Adjusted EBITDA of $197 million. They reduced net debt to $563 million, with a leverage ratio of 1.5x. Notably, Ryerson announced a quarterly cash dividend of $0.08 per share and a $50 million share repurchase program. The outlook remains positive, with anticipated Q3 revenues between $1.5 billion and $1.6 billion, supported by rising prices and stable demand.

On August 4, 2021, Ryerson Holding Corporation (NYSE: RYI) announced a quarterly cash dividend of $0.08 per share, totaling $0.32 annually. The first payment is set for September 16, 2021, to shareholders on record by August 16, 2021. Additionally, the Board approved a $50 million share repurchase program over the next two years. CEO Eddie Lehner emphasized the commitment to shareholder value and confidence in the company’s improved balance sheet.

Ryerson Holding Corporation (NYSE: RYI) will host a conference call on August 5, 2021, at 10 a.m. Eastern Time to discuss its second quarter 2021 financial results, which will be reported after market close on August 4, 2021. Interested parties can listen live on the investor relations website ir.ryerson.com. The company, with operations in the U.S., Canada, Mexico, and China, has approximately 3,900 employees and is a major player in the industrial metals sector.

On June 10, 2021, Ryerson Holding Corporation (NYSE: RYI) announced the completion of a sale-leaseback transaction involving eleven properties across various states, totaling approximately $107 million. The proceeds will be used to redeem $100 million of its Senior Secured Notes due 2028. This strategic move aims to strengthen Ryerson's balance sheet and accelerate deleveraging. The redemption is scheduled for July 9, 2021. CEO Eddie Lehner emphasized the importance of this transaction in enhancing the company's asset utilization and financial stability.

Ryerson Holding Corporation (RYI) reported Q1 2021 revenues of $1.15 billion, a 13.6% increase year-over-year, driven by strong pricing amidst recovering metals demand. Gross margin, excluding LIFO effects, rose to 24.6%, up 530 bps sequentially. Net income reached $25.3 million, while diluted earnings per share stood at $0.66. The company reduced total debt by 32.4% to $698 million, lowering the leverage ratio to 3.3x. Ryerson anticipates Q2 revenues between $1.32 billion and $1.34 billion, with improved demand and price durability across key commodities.

Ryerson Holding Corporation (NYSE: RYI) will discuss its first quarter 2021 financial results on a conference call scheduled for May 6, 2021, at 10 a.m. ET. Earnings will be released after the market closes on May 5, 2021. The online replay of the call will be available for 90 days on Ryerson's investor relations website. The company operates in the United States, Canada, Mexico, and China and has around 3,900 employees across 100 locations.