Russel Metal Ord Stock Price, News & Analysis

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#.

Russel Metals reported financial results for Q2 2021, revealing revenues of $1.068 billion and record EBITDA of $178 million. This marks a significant increase from $588 million in Q2 2020. Basic earnings per share reached $1.88, up from $0.07 a year earlier. The company maintained $514 million in liquidity and a net debt to invested capital ratio of 10%. The metals service centers segment experienced record profits due to increased demand and higher steel prices. The company also completed a joint venture, improving its OCTG and line pipe operations.

Russel Metals has successfully finalized its merger with Marubeni-Itochu Tubulars America, combining their Canadian OCTG/line pipe businesses under the new entity, TriMark Tubulars Ltd. This strategic move aims to enhance capital allocation from the OCTG/line pipe segment to other growth opportunities. CEO John Reid emphasizes the importance of this transaction for future successes. Russel Metals remains a leading North American metals distributor, with a diverse product line across three main segments.

Russel Metals will release its 2021 second quarter results on August 5, 2021 after the market closes at 5:00 p.m. ET. An Investor Conference Call will follow on August 6, 2021 at 9:00 a.m. ET, hosted by CEO John G. Reid and CFO Martin L. Juravsky. 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 August 20, 2021. For inquiries, contact Investor Relations via email or phone.

On May 5, 2021, Russel Metals Inc. held its annual meeting, representing 46.50% of issued common shares. Shareholders approved the election of all nominee directors with high voting approval: Linh J. Austin (99.44%), John M. Clark (97.54%), and others. The 'say on pay' resolution received 91.15% approval, alongside the appointment of Deloitte LLP as auditors. Russel Metals is a leading North American metals distribution company, operating in metals service centers, energy products, and steel distribution.

Russel Metals Inc. (TSX: RUS) has declared a dividend of CA$0.38 per share on common shares, which will be payable on June 15, 2021. Shareholders of record as of May 27, 2021 will receive the dividend. This marks the 77th consecutive quarterly dividend declared by the company, highlighting its ongoing commitment to returning value to shareholders. Russel Metals operates primarily in metals distribution, encompassing metals service centers, energy products, and steel distributors.

On May 4, 2021, Russel Metals reported strong financial results for Q1 2021, with revenues of $885 million and net income of $81 million, resulting in earnings per share of $1.29. This represents a significant recovery from a net loss of $0.14 in Q4 2020. The company’s EBITDA reached $129 million, contrasting with $11 million in the previous quarter. Improved market conditions led to better gross margins of 28.8%. A quarterly dividend of $0.38 was declared, sustaining previous payment levels. Looking ahead, strong demand is anticipated in the metals service center and steel distributor sectors.