Metal Center News
Minimize

  
11-16-2011 News
Minimize

Russel’s Revenues Up in Third Quarter

Russel Metals Inc., Mississauga, Ont., reported third-quarter earnings of $26 million, a significant jump from the same quarter in 2010 but down from the previous quarter. The Canadian service center company’s earnings were up 225 percent from last year, but fell 16.1 percent compared to the second quarter.

Russel reported net revenues of $705 million during the quarter, up from both the $583 million a year ago and the $619 million in the previous quarter.

“Currently, demand is holding up and our profitability is healthy. Gross margin pressure due to lower steel prices will continue but at manageable levels, which is consistent with what our industry experiences over the cycle,” said Brian R. Hedges, president and CEO, during the company’s quarterly conference call with investors and analysts. “We have less visibility on where the market is trending than usual, so we continue to keep inventory levels lean and cautiously evaluate growth opportunities.”

Revenues in the company’s metals service centers segment increased 24 percent to $390 million for the third quarter, compared to the third quarter of 2010. Operating profits of $24 million significantly exceeded the 2010 operating profits of $14 million due to stronger demand and higher steel prices, said company officials.

In the energy tubular products segment, revenues increased 19 percent to $223 million for the third quarter. Increased volumes at all operations reflect drilling activity in both Canada and the United States above levels experienced in the third quarter of 2010. The segment reported quarterly operating profits of $15 million, 5 percent greater than the 2010 third quarter.

Russel’s steel distributor segment had a 19 percent increase in revenues for the third quarter of 2011 to $90 million. Operating profits increased 59 percent to $8 million, a result of stronger margins due to rising prices and volume increases, the company reported.

  
From the Editor's Desk
Minimize
July 2014: Paper or Pixels? New MCNDigital Offers New Choices
More...
 
Pause
Business Practices and Technologies
Minimize
July 2014: Manage the Slow-Movers to Boost Inventory Turns
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



Tuesday, September 02, 2014