Russel Metals Inc. reports developments as a North American metals distribution company operating through metals service centers, energy field stores and steel distributors. Its service centers carry carbon hot rolled and cold finished steel, pipe and tubular products, stainless steel, aluminum and other non-ferrous specialty metals; its energy field stores serve energy industry customers; and its steel distributors sell large-volume steel to service centers and equipment manufacturers.
Recurring news covers quarterly and annual results, EBITDA and liquidity measures, dividend declarations, normal course issuer bids, capital investment and branch-integration activity, property rationalization, and annual meeting matters such as director elections, auditor appointments and advisory compensation votes.
Russel Metals will release its 2022 year-end and fourth-quarter results on February 9, 2023, at 5:00 p.m. ET. Following this, an Investor Conference Call will occur on February 10, 2023, at 9:00 a.m. ET, featuring Martin L. Juravsky, CFO, and John G. Reid, CEO. Investors can dial in using 416-764-8688 for international calls and 1-888-390-0546 for U.S. and Canadian callers. A replay of the call will be available until February 24, 2023, for those who wish to listen again.
Russel Metals Inc. reported its financial results for Q3 2022, achieving revenues of $1.27 billion, a notable increase from $1.11 billion in Q3 2021. However, EBITDA fell to $140 million from $196 million in the previous year.
Net earnings decreased to $91 million, with earnings per share at $1.45, down from $2.10. The company announced $24 million in dividends and repurchased $16 million of shares. Liquidity stood strong at $541 million.
Russel Metals Inc. will release its third-quarter results for 2022 on November 9, 2022, at 5:00 p.m. ET. An Investor Conference Call is scheduled for November 10, 2022, at 9:00 a.m. ET, featuring Martin L. Juravsky and John G. Reid. Interested participants can join via telephone at 416-764-8688 for international callers and 1-888-390-0546 for U.S. and Canadian callers. A replay will be available until November 24, 2022. For additional inquiries, contact the Investor Relations Department.
Russel Metals Inc. has received approval from the Toronto Stock Exchange to initiate a Normal Course Issuer Bid (NCIB) effective from August 16, 2022, until August 15, 2023, or when the maximum shares are purchased. The NCIB allows for the repurchase of up to 3,155,611 common shares, equating to 5% of current shares outstanding, using existing cash resources. Daily purchases are capped at 63,354 shares. This initiative aims to enhance shareholder value and will be subject to market conditions.
Russel Metals Inc. has announced a dividend of CA$0.38 per share on its common shares, scheduled for payment on September 15, 2022. Shareholders of record by close of business on August 29, 2022 will be eligible. This marks the 82nd consecutive quarterly dividend declared by the company, showcasing its commitment to returning value to shareholders. Russel Metals operates primarily in the metals distribution sector with a focus on value-added processing.
Russel Metals Inc. reported record revenues of $1,362 million for the three months ended June 30, 2022, up from $1,068 million in Q2 2021. EBITDA rose to $189 million, compared to $178 million a year earlier. Net earnings increased to $124 million, yielding earnings per share of $1.96. The liquidity remained strong at $472 million. The company plans a normal course issuer bid to repurchase 5% of outstanding shares. The outlook suggests potential pressure on gross margins due to moderating steel prices.
Russel Metals will announce its 2022 second quarter results on August 10, 2022, at 5:00 p.m. ET. An investor conference call led by CFO Martin L. Juravsky and CEO John G. Reid will take place on August 11, 2022, at 9:00 a.m. ET. Investors can dial 416-764-8688 (Toronto & International) or 1-888-390-0546 (U.S. & Canada) to join the call. A replay will be accessible by dialing 416-764-8677 or 1-888-390-0541 until August 25, 2022, using pass code 673428#.
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.