Welcome to our dedicated page for Ryerson Hldg news (Ticker: RYI), a resource for investors and traders seeking the latest updates and insights on Ryerson Hldg stock.
Ryerson Holding Corporation (NYSE: RYI) is a value-added processor and distributor of industrial metals with operations in the United States, Canada, Mexico, and China. This news page aggregates company announcements, earnings releases, and other disclosures that explain how Ryerson’s metals service center network is performing and evolving over time.
Readers can find quarterly and annual results where Ryerson reports net sales, tons shipped, average selling prices, gross margin metrics, and Adjusted EBITDA excluding LIFO. Management commentary in these releases provides context on demand conditions in manufacturing and industrial metals markets, pricing dynamics across carbon steel, aluminum, and stainless steel, and the company’s focus on service center fundamentals such as speed, availability, and on-time delivery.
Ryerson’s news flow also covers strategic and operational developments, including capital investment and modernization projects across its North American service center network, the opening and ramp-up of new or expanded facilities, and the operationalization of major capex initiatives. Announcements have highlighted efforts to integrate and optimize new assets, reduce annualized operating expenses, and advance what the company describes as an intelligently connected service center network.
Another key category of news involves corporate and governance updates. Recent items include the election of new directors to the board, declarations of quarterly cash dividends, and changes in senior leadership roles. In addition, Ryerson and Olympic Steel jointly announced an Agreement and Plan of Merger under which a Ryerson subsidiary will merge with Olympic Steel, with Olympic Steel becoming a wholly owned subsidiary of Ryerson, subject to customary approvals and conditions.
Investors and followers of the industrial metals sector can use this page to review Ryerson’s earnings announcements, merger-related communications, dividend declarations, and board updates in one place, and to track how the company describes its performance and strategic direction across reporting periods.
On March 2, 2023, Ryerson Holding Corporation (NYSE: RYI) announced its acquisition of BLP Holdings, LLC, which includes three divisions based in Houston, Texas: Absolute Metal Products, Metal Cutting Specialists, and Houston Water Jet. This acquisition aims to enhance Ryerson's high-margin, value-added services in industrial metals, particularly in complex fabrication and toll processing. President Alan Singleton highlighted the strategic importance of this acquisition for diversifying service offerings and strengthening the company's service-center network.
Ryerson Holding Corporation (NYSE: RYI) announced the closing of an underwritten secondary public offering of 2,486,580 shares by an affiliate of Platinum Equity LLC. Ryerson did not sell shares or receive proceeds from this offering. Concurrently, Ryerson repurchased 1,513,420 shares from the Selling Stockholder, funded by cash on hand. This move aims to enhance the public company's share float and distribute ownership more broadly. Over the past year, Ryerson has returned over $120 million to shareholders through dividends and repurchases, while also retiring $300 million of high-yield debt and increasing its quarterly dividend by 70%.
On February 24, 2023, Ryerson Holding Corporation (NYSE: RYI) announced the pricing of a secondary public offering of 2,486,580 shares of its common stock by a principal shareholder, an affiliate of Platinum Equity LLC. The Company will not receive proceeds from this offering, which is expected to close around February 28, 2023. Additionally, Ryerson plans to repurchase 1,513,420 shares from the Selling Stockholder under a separate agreement, funded by cash on hand. J.P. Morgan will act as the sole underwriter for the offering. The offering documents are available via the SEC's EDGAR database.
On February 24, 2023, Ryerson Holding Corporation (NYSE: RYI) announced a secondary offering of 2,486,580 shares by its principal shareholder, an affiliate of Platinum Equity LLC. All proceeds from this offering will go to the Selling Stockholder, as Ryerson will not receive any funds. Concurrently, Ryerson plans to repurchase 1,513,420 shares from the Selling Stockholder, expected to be funded with cash on hand. This buyback is anticipated to enhance shareholder value, reflecting the company's strategy to manage its equity structure effectively.
Ryerson Holding Corporation (NYSE: RYI) reported strong results for Q4 2022 and full-year 2022. Full-year net income reached a record $391 million with revenue of $6.3 billion. Despite a fourth-quarter revenue decline of 16.5% to $1.3 billion and a diluted EPS loss of $0.65, the company generated substantial operating cash flow of $501 million. Ryerson successfully reduced total debt from $639 million to $367 million, enhancing financial flexibility. Notably, the quarterly dividend increased by 6.3% to $0.17 per share. The company remains optimistic about 2023, expecting improved margin and demand conditions.
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Ryerson Holding Corporation (NYSE: RYI) has announced it will host a conference call on February 23, 2023, at 10 a.m. ET to discuss its fourth quarter and full-year 2022 financial results. The earnings report will be released shortly before the call, on February 22. The live broadcast can be accessed via the Company's Investor Relations website. Established in 1842, Ryerson operates in the U.S., Canada, Mexico, and China, with around 4,000 employees across approximately 100 locations.
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Ryerson Holding Corporation (NYSE: RYI) reported Q3 2022 results with a revenue of $1.54 billion, down 11.5% from Q2 2022. The net income was $55.1 million, translating to $1.46 diluted EPS, compared to $196.4 million or $5.10 EPS in Q2 2022. Despite a strong operating cash flow of $151.6 million and a 7% dividend increase, gross margins declined significantly to 17.6%. Ryerson reduced its total debt to $477 million and completed acquisitions of Howard Precision Metals and Excelsior, Inc. Outlook for Q4 anticipates continued revenue declines from $1.25 billion to $1.30 billion.
On November 1, 2022, Ryerson Holding Corporation (NYSE: RYI) announced the acquisition of Excelsior, Inc., a fabrication and machining firm based in Fresno, California. Excelsior offers advanced processing services including laser cutting and complex assemblies. This acquisition aims to enhance Ryerson's value-added service capabilities in the Western United States, improving customer experiences and expanding their metal processing solutions. The acquisition is expected to leverage Excelsior's reputation for customer service and expertise, reinforcing Ryerson's market presence.
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