Russel Metal Ord Stock Price, News & Analysis

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.

Russel Metals Inc. (TSX: RUS) has successfully completed the acquisition of Boyd Metals, which operates five service centers across Arkansas, Missouri, Oklahoma, and Texas. This strategic acquisition is expected to enhance Russel's operational platform and expand its market reach. President and CEO John Reid expressed enthusiasm for integrating Boyd's team and resources into Russel Metals. The company focuses on metals distribution and processing, offering a diverse range of products including carbon steel, stainless steel, aluminum, and energy products.

Russel Metals (TSX: RUS) has declared a dividend of CA$0.38 per share on its common shares, scheduled for payment on December 15, 2021. Shareholders of record as of November 24, 2021 will receive this dividend. This marks the company's 79th consecutive quarterly dividend, highlighting its commitment to returning value to shareholders. Russel Metals operates in three segments: metals service centers, energy products, and steel distributors, providing a diverse range of metal products across North America.

Russel Metals Inc. has announced the acquisition of Boyd Metals for US$110 million, enhancing its service center footprint in the U.S. South with five locations. Boyd generated US$244 million in revenue and US$39 million in Adjusted EBITDA for the year ending September 30, 2021. The acquisition aligns with Russel’s strategy to enhance returns and margins by expanding its value-added processing capabilities. The transaction will be financed using existing cash and bank facilities. Expected closure is in Q4 2021, pending customary conditions.

Russel Metals reported strong financial results for Q3 2021, with revenues of $1.1 billion and record net income of $132 million, marking a significant increase from $615 million and $18 million in Q3 2020. EBITDA rose to $196 million compared to $47 million the previous year. The company generated $106 million in cash from operations and maintained liquidity over $600 million. Gross margin improved to 29.8% despite a slight decline from 30.7% in the previous quarter. A quarterly dividend of $0.38 per share was declared, supporting continued shareholder returns.

Russel Metals will release its 2021 third-quarter results via press release on November 4, 2021, at 5:00 p.m. ET. An Investor Conference Call will follow on November 5, 2021, at 9:00 a.m. ET, hosted by CFO Martin L. Juravsky and CEO John G. Reid. Investors can join the call by dialing 416-764-8688 or 1-888-390-0546. A replay will be available until November 19, 2021, at 416-764-8677 or 1-888-390-0541 with pass code 195655#.