Ryerson Hldg Corp Stock Price, News & Analysis

On June 10, 2021, Ryerson Holding Corporation (NYSE: RYI) announced the completion of a sale-leaseback transaction involving eleven properties across various states, totaling approximately $107 million. The proceeds will be used to redeem $100 million of its Senior Secured Notes due 2028. This strategic move aims to strengthen Ryerson's balance sheet and accelerate deleveraging. The redemption is scheduled for July 9, 2021. CEO Eddie Lehner emphasized the importance of this transaction in enhancing the company's asset utilization and financial stability.

Ryerson Holding Corporation (RYI) reported Q1 2021 revenues of $1.15 billion, a 13.6% increase year-over-year, driven by strong pricing amidst recovering metals demand. Gross margin, excluding LIFO effects, rose to 24.6%, up 530 bps sequentially. Net income reached $25.3 million, while diluted earnings per share stood at $0.66. The company reduced total debt by 32.4% to $698 million, lowering the leverage ratio to 3.3x. Ryerson anticipates Q2 revenues between $1.32 billion and $1.34 billion, with improved demand and price durability across key commodities.

Ryerson Holding Corporation (NYSE: RYI) will discuss its first quarter 2021 financial results on a conference call scheduled for May 6, 2021, at 10 a.m. ET. Earnings will be released after the market closes on May 5, 2021. The online replay of the call will be available for 90 days on Ryerson's investor relations website. The company operates in the United States, Canada, Mexico, and China and has around 3,900 employees across 100 locations.

On February 24, 2021, Ryerson Holding Corporation (NYSE: RYI) announced the retirement of Kevin Richardson, President of the South-East Region, effective April 2, 2021, after 36 years with the company. Eddie Lehner, CEO, praised Richardson's contributions to Ryerson's success. Mike Burbach will step in as Chief Operating Officer on the same date. The organizational structure will shift, dividing North America into three regions led by new presidents: Steve Bosway (West), Eric McGill (South), and Jeff Redfield (North). Ryerson operates across the U.S., Canada, Mexico, and China with about 3,900 employees.

Ryerson Holding Corporation (NYSE: RYI) announced its Q4 2020 results, reporting revenues of $853 million, a 2.6% increase from Q3 2020, but an 11.3% decrease YoY. The company achieved a gross margin of 18.0%, down from 18.7% in Q3, while Adjusted EBITDA, excluding LIFO, rose to $33.6 million. However, Ryerson reported a net loss of $16.7 million for the quarter, equating to a loss per diluted share of $0.44. Despite challenges, the company reduced net debt to $679 million and expects Q1 2021 revenues of $1.08-$1.10 billion.

Ryerson Holding Corporation (NYSE: RYI) has announced it will host a conference call on February 25, 2021, at 10 a.m. ET to discuss its fourth quarter and full-year 2020 financial results, which will be released after market hours on February 24. The call can be accessed through the company's investor relations website. Ryerson, a key player in the industrial metals sector since 1842, operates in the U.S., Canada, Mexico, and China, employing approximately 3,900 individuals.

Ryerson Holding Corporation (NYSE: RYI) has announced the appointment of James J. Claussen as the new executive vice president and chief financial officer (CFO), effective January 11, 2021. Claussen, who has been with Ryerson since 2002, previously served as president of Central Steel & Wire Co., acquired by Ryerson in 2018. He brings over 18 years of experience in financial and operational roles within the company. CEO Eddie Lehner expressed confidence in Claussen's qualifications as the company enters a new phase of transformation.

Ryerson Holding Corporation (NYSE: RYI) announced the extension of its $1.0 billion revolving credit facility, marking a step in strengthening its balance sheet and reducing debt costs. This amendment allows Ryerson to use the funds for general corporate needs, including working capital and potential acquisitions. The company anticipates saving between $3 million to $5 million annually in cash interest expenses due to improved financing terms. The facility is secured by the company's inventory and accounts receivable in the U.S. and Canada.

Ryerson Holding Corporation (NYSE: RYI) reported Q3 2020 revenues of $832 million, an increase of 7.7% sequentially, despite a 24.7% decline year-over-year. The company reduced net debt by over $100 million to $692 million, marking the lowest level in over a decade. Adjusted earnings per diluted share reached $0.31, compared to a loss of $0.64 in Q2 2020. However, a net loss of $39.9 million was recorded, influenced by a pension settlement charge. Cash flow from operations increased to $121 million, illustrating effective cash management. Ryerson did not provide guidance for Q4 2020 due to ongoing pandemic uncertainties.