Welcome to our dedicated page for Russel Metal Ord news (Ticker: RUSMF), a resource for investors and traders seeking the latest updates and insights on Russel Metal Ord stock.
Russel Metals Inc. (RUSMF) maintains this comprehensive news hub for investors and industry professionals tracking North American metals distribution developments. Our curated collection features official press releases and verified updates spanning the company's three core operations: metals service centers, energy products distribution, and steel wholesale operations.
Access timely updates on quarterly earnings disclosures, strategic acquisitions in the metals sector, operational expansions, and leadership announcements. This resource consolidates critical information for assessing market positioning and supply chain developments within the steel distribution industry.
Key updates include processing facility upgrades, inventory management innovations, and partnership agreements with industrial manufacturers. All content undergoes verification to ensure accuracy and relevance for financial analysis and procurement decision-making.
Bookmark this page for direct access to RUSMF's latest developments, or check back regularly to stay informed about North American metals distribution trends impacting multiple industrial sectors.
Russel Metals has successfully extended and amended its credit facilities, marking significant improvements in its debt structure. The company has extended its $400 million revolving credit facility and $50 million letters of credit facility to April 30, 2029.
Key developments include:
- Removal of the springing lien provision
- Maintenance of unsecured facilities with no borrowing base restrictions
- Continuation of investment grade financial covenants
- Cancellation of $150 million sidecar bank facility following a $300 million issuance of 4.423% Notes due in 2030
According to CFO Martin L. Juravsky, these changes provide Russel with significant liquidity, flexible financial covenants, and low-cost term debt without financial covenants, supporting the company's ongoing strategic initiatives.
Russel Metals has announced its upcoming 2025 first quarter results conference call schedule. The company will release its Q1 2025 results on Tuesday, May 6, 2025, after market close at 5:00 p.m. ET.
The Investor Conference Call will be held on Wednesday, May 7, 2025, at 9:00 a.m. ET, featuring Martin L. Juravsky, Executive Vice President and CFO, and John G. Reid, President and CEO. Investors can join through automated registration or direct dial-in options.
A replay of the call will be available until Wednesday, May 21, 2025, with specific access codes and contact information provided for investor relations inquiries.
Russel Metals (TSX: RUS) has successfully completed its previously announced offering of $300 million aggregate principal amount of senior unsecured notes. The notes, rated BBB (low) with a stable trend by DBRS , carry a 4.423% interest rate and will mature in 2030. The company plans to utilize the net proceeds from this offering for general corporate purposes.
Russel Metals (TSX: RUS) has announced a $300 million offering of senior unsecured notes with a 4.423% coupon rate and five-year maturity, due in 2030. The notes have received a provisional BBB (low) rating with a stable trend from DBRS
The offering represents a strategic move to establish lower-cost term debt in the company's capital structure. The notes feature a flexible structure without financial or maintenance covenants and will rank equally with other unsecured and unsubordinated indebtedness.
The private placement is being led by RBC Capital Markets and Scotia Capital Inc. as Joint Lead Agents and Joint Bookrunners, with closing expected around March 28, 2025. The proceeds will be used for general corporate purposes.
Russel Metals reported financial results for Q4 and full-year 2024. The company achieved revenues of $4.3 billion in 2024 (down from $4.5B in 2023) and $1.0 billion in Q4 2024. EBITDA was $299 million for 2024 and $61 million for Q4.
Key highlights include: generating $344 million in cash from operating activities in 2024, completing two strategic acquisitions (Samuel's seven service centers and Tampa Bay Steel), investing $90 million in capital expenditures, and maintaining strong liquidity of $580 million. The company returned capital to shareholders through $98 million in dividends and $131 million in share repurchases.
Earnings per share decreased to $2.73 in 2024 from $4.33 in 2023. Gross margin was 20.9% in 2024 compared to 21.7% in 2023. The company completed facility modernizations and value-added equipment projects, focusing on expanding U.S. operations which now represent 39% of revenues.
Russel Metals (RUSMF) has announced its upcoming 2024 year-end and fourth quarter results conference call. The company will release its financial results on Wednesday, February 12, 2025, after market close at 5:00 p.m. ET. The Investor Conference Call will be held on Thursday, February 13, 2025, at 9:00 a.m. ET, featuring Martin L. Juravsky, Executive Vice President and CFO, and John G. Reid, President and CEO.
Investors can join the call through automated registration or direct dial-in. The conference replay will be available until February 27, 2025, with pass code 48004#.
Russel Metals (TSX: RUS) has successfully completed the acquisition of Tampa Bay Steel. The transaction strengthens Russel Metals' presence in the Southern United States, aligning with the company's regional growth strategy. The announcement confirms the integration of Tampa Bay Steel's team, led by Mark Stewart, into the Russel Metals organization.
Russel Metals reported Q3 2024 financial results with revenues of $1.1 billion, EBITDA of $67 million, and earnings per share of $0.59. The company generated $163 million in cash from operating activities and maintained liquidity of $762 million. Notable developments include closing the Samuel acquisition with reduced invested capital of $167 million, entering a new $600 million credit agreement, investing $21 million in capital expenditures, and repurchasing $46 million of shares. Gross margins were 19.7%, compared to 21.0% in Q2 2024 and 20.2% in Q3 2023.
Russel Metals RUSMF has announced its 2024 third quarter results conference call schedule. The company will release its Q3 2024 results via press release on Wednesday, November 6, 2024, after market close at 5:00 p.m. ET. An Investor Conference Call will follow on Thursday, November 7, 2024, at 9:00 a.m. ET, hosted by Martin L. Juravsky, Executive Vice President and CFO, and John G. Reid, President and CEO.
Investors can join the call through an automated callback system or by dialing in directly. The conference call will be available for replay until Thursday, November 21, 2024. For those wishing to unsubscribe from future call notices or seeking additional information, contact details for the Investor Relations Department have been provided.
Russel Metals Inc. (TSX: RUS) has announced the redemption of all its outstanding 5.75% senior unsecured notes due October 27, 2025, effective October 27, 2024. The redemption price will be 100% of the aggregate principal amount plus accrued and unpaid interest. This action covers the entire original $150 million principal amount of the Notes.
Martin L. Juravsky, Executive Vice President and CFO, stated that this redemption will reduce interest expenses and increase financial flexibility while maintaining strong liquidity. It marks the final step in removing Russel's legacy high yield debt structure, following the May 2024 redemption of $150 million of 6% senior unsecured notes and the July 2024 establishment of a new $600 million investment grade unsecured bank credit facility.
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