NewsArticles
Minimize


Aug. 20, 2014

Ryerson Goes Public with IPO of 11 Million Shares
 
Chicago-based Ryerson has once again become a public company with an initial public offering in early August. The company closed its IPO of 11 million shares at a price of $11 per share. At press time, the stock was trading at $10.30 per share. Proceeds of approximately $111 million will be used to retire debt.
 
Ryerson is the second-largest service center company in North America with 2013 revenues of $3.46 billion. It was previously a public company until 2007 when it was acquired by Platinum Equity. The Los Angeles-based private equity remains the largest shareholder.

Following its IPO, Ryerson released an earnings report for the second quarter. It reported second-quarter sales of $932 million, an increase of 2.7 percent from the same quarter in 2013 and up 6.5 percent from the first quarter. The company benefited from improved metals prices. Net income totaled $2.6 million, up from $500,000 in the second quarter of 2013 and $1.6 million in the first quarter.

Ryerson also reported some recovery in metals demand in the second quarter with a 2.9 percent sequential increase in tons shipped per day. Gross margin was 16.6 percent, compared to 17.5 percent in the year-ago period and 16.9 percent in the first quarter.

"We are pleased with our results in the quarter, which benefitted from higher metal prices and signs of improving demand," says Mike Arnold, Ryerson's president and chief executive officer. "We are capturing the benefits of our corporate transformation. Moreover, we have positioned the company to leverage its scale and competitive advantages."

For the first half of 2014, Ryerson saw revenues of $1.8 billion, an increase of 0.4 percent from the first six months of 2013. Its net income totaled $4.2 million, down from the $6.1 million posted during the same period of 2013.

Ryerson operates more than 100 locations in the United States, Mexico, Canada, China and Brazil. Shares of Ryerson Holding Corp.’s common stock are listed on the New York Stock Exchange under the ticker symbol RYI.

From the Editor's Desk
Minimize
August 2014: Son Honors Father with Touching, Fiery Sendoff
More...
 
Pause
Business Practices and Technologies
Minimize
August 2014: Good Riddance to Winter
More...
The Cutting Edge, a service center technology supplement to Metal Center News
More...
Summer 2013
More...
 
Pause
New Products
Minimize
Trumpf Expands Range on TruMark 5000 Series
More...
Koike Aronson Debuts New Plasma Cutter
More...
Miyachi Unitek's Sigma XY
More...
New TMC is Messer's Largest Cutting Machine
More...
Laserdyne 795 XLZ Designed for 3D Parts
More...
Mazak's STX Champion Cuts Thick Sheets
More...
 
Pause
Directories
Minimize

 
Metal Distribution 2014  is your on-line guide to Metal Producers, Equipment Manufacturers and Software companies.
 



 
2014 Directory of Master Distributors
Not Published on This Web site
The Metal Center News Directory of Master Distributors—distributors who sell to other distributors—is an invaluable tool for service centers seeking new sources for special or hard-to-find products. Master distributors play an important role in the marketplace, giving service centers an alternative to buying in mill quantities and helping to remove redundant and excess inventories from the distribution channel.


Print copies are available for $85 U.S. for each copy.
Download Order Form.
 
2014 Directory of Toll Processors
Not Published on This Web site
Metal Center News'
annual toll processing directory is a simple-to-use resource to help companies locate service providers that can meet their specific processing needs.


Print copies are available for $85 U.S. for each copy. Download Order Form.
Privacy Statement  |  Terms Of Use
Copyright by Metal Center News



Thursday, September 18, 2014