Nov. 9, 2016
 
Ryerson Increases Earnings in Third Quarter

Ryerson, the Chicago-based service center company, reported net income of $8.2 million in the third quarter, a 46.4 percent improvement on the prior quarter and 22.3 percent better than the same quarter of 2015. Through the first nine months, Ryerson’s net income increased 36.5 percent to $27.3 million.

Ryerson’s net sales in the third quarter totaled $735.1 million, flat with the previous quarter, but down 6.9 percent from third-quarter 2015. For the year to date, its sales declined 12.8 percent to $2.2 billion, as a 0.5 percent increase in tons shipped was more than offset by a 13.3 percent decline in the average selling price per ton. Ryerson’s shipment gain for the year significantly outpaced the industry average, which declined by 6.9 percent, as measured by MSCI.

The metals distributor shipped 480,000 tons in the third quarter, a decline of 4.9 percent from the prior quarter and 2.4 percent from third-quarter 2015. Shipments were down in carbon, aluminum and stainless from the second-quarter, while only stainless steel shipments showed an increase from the third quarter last year. For the year to date, Ryerson’s carbon steel shipments declined 1.3 percent to 1.1 million tons, while its aluminum shipments slipped by 2.0 percent to 145,000 tons. Stainless shipments increased 13.1 percent to 198,000 tons.

"The Ryerson team performed well in a challenging environment," said Ryerson President and CEO Eddie Lehner. "While industrial metals demand continued to contract and spot carbon sheet index pricing fell almost 20 percent in the quarter, Ryerson was able to increase gross margin, net income and earnings per share in the third quarter compared to prior year.”


September 2017: Numbers Don’t Add Up for Service Centers
More...
 
Pause
September 2017: Lichtenstein: Five Steel Truths that Demand Attention
More...
Fall 2016: Cutting & Sawing Equipment
More...
Summer 2017
More...
 
Pause
Advanced Controls on Braner Slitters
More...
AHVS Precision Leveler Features Flip-Top Design
More...
Formtek’s Tishken Slitter Increases Production Volume
More...
Red Bud System Handles High-Strength Steels
More...
Bradbury Launches Flat Trak CL Monitoring System
More...
Artus Knives Custom Designed
More...
 
Pause
Privacy Statement  |  Terms Of Use
Copyright by Metal Center News



Monday, October 23, 2017