Aug. 17, 2016

Ryerson Expands Margin, Market Share

Chicago-based Ryerson reported revenues of $739.8 million in the second quarter, down 12 percent from the year-ago period due to a 14.9 percent decline in the average selling price per ton. Its net income of $5.6 million for the quarter was down from $15.6 million in second-quarter 2015.

Ryerson shipped 3.5 percent more tons in the second quarter, which compares favorably to the industry average decline of 5.3 percent. Its gross margin hit 22 percent, up from 19.7 percent a year ago.

“Our second-quarter results are a clear and continuing demonstration of the strength of our strategy and quality of our execution,” said Ryerson’s President and Chief Executive Officer Eddie Lehner. “We made significant improvements to our balance sheet while gaining market share, expanding margins, controlling costs and increasing inventory velocity.”

For the first six months of the year, Ryerson’s revenues declined by 15.6 percent, to $1.4 billion, as a 2.0 percent increase in tons shipped was more than offset by a 17.2 percent decline in the average selling price. Ryerson’s net income for the first half totaled $19.1 million, up from $13.3 million for the same period of 2015.


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Tuesday, October 17, 2017