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 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.
Russel Metals Inc. announced a merger with Marubeni-Itochu Tubulars America, combining their Canadian OCTG/line pipe businesses. The transaction will provide Russel Metals with cash proceeds of approximately $138 million and a 50% equity stake in the new entity, TriMark Tubulars Ltd. Russel will contribute net assets valued at $111 million and retain accounts receivable totaling $59 million. This merger aims to enhance scale and product diversity, driven by evolving industry dynamics. The deal is expected to close in Q2 or Q3 of 2021, subject to regulatory approval.
Russel Metals will release its Q1 2021 results on May 4, 2021, at 5:00 p.m. ET. An Investor Conference Call will take place on May 5, 2021, at 9:00 a.m. ET, featuring Martin L. Juravsky and John G. Reid. Callers can dial 416-764-8688 (Intl) or 1-888-390-0546 (U.S. & Canada) to join. A replay will be available until May 19, 2021. For inquiries, contact Investor Relations at info@russelmetals.com.
Russel Metals Inc. (TSX: RUS) has declared a dividend of CA$0.38 per share on its common shares, set to be paid on March 15, 2021. Shareholders of record by the close of business on February 26, 2021 will receive this payment. Russel Metals is a leading metals distribution company in North America, operating in three segments: metals service centers, energy products, and steel distributors. This announcement marks the company's 76th consecutive quarterly dividend, highlighting its financial stability and commitment to returning income to shareholders.