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 Inc. (TSX: RUS) has renewed and enhanced its credit facility, increasing total availability from $450 million to $600 million. The new facility includes:
- $400 million revolving credit facility (maturity: July 2028)
- $50 million letters of credit facility (maturity: July 2028)
- $150 million revolving credit facility (maturity: July 2026)
The facility is unsecured with no borrowing base restrictions and features more flexible investment grade type financial covenants. This enhancement reflects Russel's improved capital structure and transition to an investment grade type company, providing greater flexibility for growth initiatives.
Russel Metals has announced that its results for the 2024 second quarter will be released on Wednesday, July 31, 2024, after the close of business at 5:00 p.m. ET.
An Investor Conference Call will be held on Thursday, August 1, 2024, at 9:00 a.m. ET, hosted by Martin L. Juravsky, EVP and CFO, and John G. Reid, President and CEO, to review the results.
Investors can register for an automated call back or directly dial in. A replay will be available until August 15, 2024. Contact Russel Metals' Investor Relations for further information.
Russel Metals (TSX: RUS) has obtained a no-action letter from the Canadian Competition Bureau for its acquisition of seven service center locations from Samuel, Son & Co. The transaction is expected to close in Q3 2024, pending customary conditions. CEO John Reid expressed optimism about the acquisition's positive impact on customers, suppliers, employees, and communities. Russel Metals is a major North American metals distributor with segments in metals service centers, energy field stores, and steel distributors. The company offers a wide range of metal products and specialized services for the energy industry.
Russel Metals Inc. (TSX: RUS) released the voting results of its 2024 annual meeting, with a majority of shares represented. Shareholders voted for the election of all nominee directors, with high percentages in favor of each. The advisory 'say on pay' resolution and the appointment of KPMG LLP as auditors were also approved. Russel Metals Inc. is a prominent metals distribution company in North America, focusing on value-added processing across three business segments.
Russel Metals Inc. announces their 2024 first quarter financial results, reporting revenues of $1.1 billion, EBITDA of $84 million, and cash generated from operating activities of $85 million. The company repurchased $15 million of shares, increased quarterly dividend by 5% to $0.42 per share, and redeemed $150 million of 6% notes. Liquidity stands at $956 million. Although net income and earnings per share declined compared to the previous year, gross margins improved. Market conditions affected steel prices, with the company experiencing higher average selling prices and volumes. Capital investment growth initiatives include expansions and new facilities. The acquisition of service centers is delayed due to Competition Bureau concerns. The company continues its flexible approach to returning capital to shareholders through dividends and share buybacks. Strong liquidity and capital structure position the company for debt structure improvements. The outlook is positive, expecting stable steel prices and growth in steel consumption. Energy field stores are poised for continued growth in 2024.
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