Jan. 18, 2017

Ryerson Anticipates Decline in Fourth-Quarter

Ryerson saw seasonally lower revenue in its fourth quarter. In guidance in advance of its quarterly earnings report, the Chicago-based service center told shareholders its expects a fourth-quarter loss of $11 million to $14 million, a slightly smaller loss than in fourth-quarter 2015.

Ryerson has seen end-market shipment increases in construction equipment and oil and gas, offset by declines in food processing, ag equipment, HVAC and commercial ground transportation. Steel price deflation from July through October of 20 percent, followed by a similar rebound in November and December, created some margin compression in the quarter. Current momentum indicators are positive for pricing, executives say.


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Tuesday, December 12, 2017