Ryerson's Income Up Five Fold in 2018
By Metal Center News Staff
on Mar 6, 2019
Ryerson Holding Corp., Chicago, reported net income of $106 million in 2018, more than five times greater than the $17.1 million posted in the previous year.
Revenues totaled $4.4 billion in 2018, a 31 percent increase compared to the prior year. Average selling prices increased 15.4 percent and tons shipped increased by 13.4 percent during the year.
On a same-store basis, Ryerson’s revenues of $4.1 billion were up 20.7 percent compared with 2017. Average selling prices were up 16 percent and volumes 4.1 percent higher on a same-store basis.
“We made the most of our opportunities and improved in every facet of our business while making important investments in profitable growth and positioning Ryerson to accelerate shareholder value accretion in the coming years,” said Eddie Lehner, Ryerson’s president and CEO. “Our mission is creating great customer experiences that become an indispensable part of our customer’s success across a network of intelligent industrial metal service centers.”
In the fourth quarter, revenues totaled $1.16 million, a 43.1 percent increase from the year-ago period. Tons shipped increased 22.8 percent and average selling price per ton was up 16.5 percent.
Net income attributable to Ryerson Holding Corporation was $600,000 in the fourth quarter of 2018 compared to flat in the fourth quarter of 2017.