GP Strategies Reports Strong Fourth Quarter 2020 Financial Results
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COLUMBIA, Md., March 11, 2021 /PRNewswire/ Global workforce transformation solutions provider
GP Strategies Corporation (NYSE: GPX) today reported financial results for the quarter ended December 31, 2020.
Overview:
Income Statement Highlights:
Revenue of $123.1 million for the fourth quarter of 2020 compared to $115.6 million for the third quarter of 2020 and $155.4 million for the fourth quarter of 2019
Gross profit of $23.1 million, or 18.8% of revenue for the fourth quarter of 2020 compared to $20.7 million, or 17.9% of revenue for the third quarter of 2020 and $23.3 million, or 15.0% of revenue, for the fourth quarter of 2019
Diluted earnings per share of $0.47 for the fourth quarter of 2020 compared to $0.03 per share for the third quarter of 2020 and $0.56 per share for the fourth quarter of 2019 (Adjusted EPS of $0.38 for the fourth quarter of 2020 compa
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CHICAGO, Feb. 24, 2021 /PRNewswire/
Ryerson Holding Corporation (NYSE: RYI), a leading value-added processor and distributor of industrial metals, today reported results for the fourth quarter and full-year ended December 31, 2020.
Q4 2020 Highlights:
Continued successfully executing upon our dual mandate pandemic response plan to safeguard the health and safety of our employees and to improve the liquidity and recovery capacity of the Company.
Redeemed $50 million in outstanding Senior Secured Notes due 2028 and ended the year with net debt of $679 million, a decrease of $244 million compared to 2019 enabled by strong cash flow generation from operations of $278 million.
Fourth quarter revenues increased by 2.6% sequentially driven by the robust metals pricing environment and recovering demand fundamentals. Gross margin contracted quarter-over-quarter to 18.0% due to lagging contract business price resets, whereas gross margin, excluding LIFO expanded
Fourth Quarter 2020 Highlights: Q4 2020 net sales 4.6% higher than Q3 2020; decreased 2.2% year-over-year to $1,074.5 million Income from operations of $163.2 million; Adjusted EBIT of $205.4 million up 18.4% from Q4 2019 Diluted EPS of $0.30 versus $0.18 in Q4 2019; Adjusted diluted EPS of $0.58 up 38.1% versus $0.42 in Q4 2019 Cash flow from operations of $278.4 million; record free cash flow result of $256.0 million in Q4 2020 Repurchased $25.0 million of stock during Q4 2020 at average price of $28.69 Net leverage ratio of 3.3x at December 31, 2020 versus 3.7x at September 30, 2020; ~$200 million debt pay-down as part of November refinancing; over $1.7 billion in total liquidity available at December 31, 2020 Full Year 2020 Highlights: Full year results included significant impacts from the global pandemic on demand and operating results, but strong 2H recovery driven by aggressive cost and cash flow actions