Russel Metal Ord Stock Price, News & Analysis

Russel Metals Inc. (RUS - TSX) announced the results from its 2022 annual meeting held on May 4, 2022, where 33,323,116 common shares, or 52.80% of total shares, were represented. All director nominees were elected with significant support; Linh J. Austin received 98.97% votes in favor. The company's advisory 'say on pay' resolution was approved with 87.82% support, and Deloitte LLP was appointed as auditors. Russel Metals, a leading North American metals distribution company, operates in metals service centers, energy products, and steel distribution.

Russel Metals Inc. has declared a dividend of CA$0.38 per share, marking the 81st consecutive quarterly dividend. This dividend will be paid on June 15, 2022, to shareholders on record as of May 27, 2022. Russel Metals operates as one of the largest metals distribution companies in North America, focusing on metals service centers, energy products, and steel distribution. The company's extensive network provides a wide range of metal products, highlighting its commitment to value-added processing.

Russel Metals reported record revenues of $1,339 million for Q1 2022, a significant increase over $885 million in Q1 2021. EBITDA was $153 million, up from $129 million a year prior. Net earnings stood at $99 million, with earnings per share at $1.56. The company maintained $457 million in liquidity while adapting to strong market demand and supply chain disruptions from global events. The dividend remains steady at $0.38 per share. Future demand is anticipated to remain robust across its segments.

Russel Metals will announce its 2022 first quarter results on May 3, 2022 at 5:00 p.m. ET. An Investor Conference Call will follow on May 4, 2022 at 9:00 a.m. ET, led by CFO Martin L. Juravsky and CEO John G. Reid. Dial-in numbers include 416-764-8688 for international callers and 1-888-390-0546 for U.S. and Canada. A replay will be available until May 18, 2022. Interested parties can unsubscribe from notifications via email or by calling the Investor Relations Line.

Russel Metals Inc. announced a donation of $100,000 to the United Nations High Commission for Refugees Canada to aid humanitarian efforts in Ukraine. This contribution aims to support those displaced by the ongoing crisis. CEO John Reid emphasized the urgency of the situation, highlighting the company's commitment to assist affected individuals. Russel Metals is recognized as one of North America's largest metals distribution firms, operating in three primary segments: metals service centers, energy products, and steel distribution.

Russel Metals has declared a dividend of CA$0.38 per share, marking its 80th consecutive quarterly payout, payable on March 15, 2022, to shareholders on record by February 28, 2022. As one of North America's largest metals distributors, Russel Metals operates through three main segments: metals service centers, energy products, and steel distributors. The company emphasizes value-added processing, providing a diverse range of metal products, including steel, aluminum, and non-ferrous metals.

Russel Metals Inc. reported strong financial results for 2021, with annual revenues reaching $4.2 billion and EBITDA of $664 million. The company’s net income surged to $432 million or $6.90 per share, compared to $25 million or $0.39 per share in 2020. The fourth quarter alone generated $1.1 billion in revenue and an adjusted EBITDA of $164 million, fueled by favorable steel market conditions and the acquisition of Boyd Metals. With $495 million in liquidity, Russel Metals aims to continue capital investments and navigate anticipated market volatility in 2022.

Russel Metals will release its 2021 year-end and fourth-quarter results on February 10, 2022, at 5:00 p.m. ET. An Investor Conference Call with Executive VP and CFO Martin L. Juravsky and President/CEO John G. Reid is scheduled for February 11, 2022, at 9:00 a.m. ET to discuss the results in detail. Investors can access the call via specific dial-in numbers and a replay will be available until February 25, 2022. For more information, contact the Investor Relations department.

Russel Metals has successfully extended its $450 million credit facility with a bank syndicate until September 21, 2025. This extension includes a more favorable interest rate grid and reflects improved credit ratings, with S&P Global upgrading it to BB+ and DBRS Morningstar initiating a BBB (low) rating. The CFO expressed satisfaction with the support from lenders, enhancing the company's financial flexibility and reducing bank debt costs.