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.
Ryerson Holding Corporation (NYSE: RYI) will host a conference call on November 3, 2022, at 10 a.m. ET to discuss its third quarter 2022 financial results, which will be reported after market close on November 2, 2022. The call will be accessible via the company's Investor Relations website. Founded in 1842, Ryerson is a prominent distributor of industrial metals with operations across the U.S., Canada, Mexico, and China, employing around 4,000 people across 100 locations.
Ryerson Holding Corporation (NYSE: RYI) announced its inaugural Investor Day to be held on November 8, 2022, at 2:00 p.m. ET at the New York Stock Exchange. This event marks 180 years of continuous operation for Ryerson, a leading processor and distributor of industrial metals. Attendees will gain insights into the company’s financial transformation, strategic plans, and capital allocation. A Q&A session will follow, featuring executives like Eddie Lehner and Jim Claussen. Registration is open for both in-person and virtual attendees at ryersoninvestorday.com.
Ryerson Holding Corporation (NYSE: RYI) has announced its acquisition of Howard Precision Metals, Inc., a prominent aluminum distributor in the Midwest, based in Milwaukee, Wisconsin. The acquisition aims to enhance Ryerson's value-added processing capabilities, particularly in precision cut aluminum plate and saw cut extruded aluminum bar distribution. Ryerson's Chief Operating Officer, Mike Burbach, emphasized the synergy expected from integrating Howard's operations, which aligns with Ryerson's non-ferrous franchise and customer service ethos.
Ryerson Holding Corporation (NYSE: RYI) reported strong Q2 2022 results with record earnings per share of $5.10 and adjusted EPS of $5.31 on $1.74 billion in revenue. The company achieved significant debt reduction by retiring high-yield notes and increasing its revolving credit facility to $1.3 billion. Subsequent to the quarter, Ryerson increased its dividend by 20% and approved a $75 million share repurchase authorization. Despite the positive trends, there was a slight drop in shipment volumes, impacted by price declines in key commodities.
Ryerson Holding Corporation (NYSE: RYI) will host a conference call on August 4, 2022, at 10 a.m. ET to discuss its second quarter financial results for the period ending June 30, 2022. Earnings will be reported after market close on August 3. The call can be accessed through the Company's Investor Relations website. Ryerson is a prominent value-added processor and distributor of industrial metals, operating in the U.S., Canada, Mexico, and China, with around 4,000 employees across approximately 100 locations.
Ryerson Holding Corporation (NYSE: RYI) has amended its asset-based revolving credit facility, increasing commitments from $1.0 billion to $1.3 billion and extending maturity to June 2027. The facility, secured by U.S. and Canadian inventory and accounts receivable, will help lower borrowing costs and enhance liquidity. Pricing benefits will be available based on financial metrics. CFO Jim Claussen highlighted this move as essential for transforming the company's balance sheet.
Ryerson Holding Corporation (NYSE: RYI) hosted a groundbreaking ceremony on June 1 for a new 900,000-square-foot facility in University Park, IL, which will serve as the headquarters for its subsidiary, Central Steel & Wire (CS&W). This facility is set to create over 300 jobs and will enhance processing capabilities with upgraded equipment. The center is expected to be operational by mid-2023, marking a significant expansion in Ryerson's infrastructure.
Ryerson Holding Corporation (NYSE: RYI) announced its acquisition of Ford Tool Steels (FTS), a veteran tool steel processor based in St. Louis, Missouri, on June 1, 2022. FTS, with over 75 years in business, specializes in tool steel and alloys, along with related machining services. This acquisition aims to create synergies with Ryerson's existing operations, particularly with Southern Tool Steel, enhancing their tool steel offerings. Both companies emphasize a commitment to quality and customer service, supporting Ryerson's growth within the industry.
Ryerson Holding Corporation (NYSE: RYI) has announced the early results of its cash tender offer conducted by its subsidiary, JT Ryerson. The offer's maximum principal amount has been increased to $132,155,000 from $75,000,000 for its outstanding 8.50% Senior Secured Notes due 2028. As of May 26, 2022, the tendered Notes exceeded the maximum amount, leading to a proration. Notes tendered and accepted will receive a total consideration, including an early tender premium of $25 per $1,000 principal amount. The early settlement date is set for May 31, 2022.
Ryerson Holding Corporation (NYSE: RYI) announced a cash tender offer to purchase up to $75,000,000 of its 8.50% Senior Secured Notes due 2028. The offer expires on June 10, 2022, unless modified. Holders tendering before May 26, 2022, will receive $1,062.50 per $1,000 principal amount, plus accrued interest. Those tendering after this date will receive $1,037.50. Payment will be funded with cash or borrowing from a revolving credit facility. Conditions apply to the acceptance of tendered notes, and a complete offer is available from D.F. King & Co., Inc.
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