/PRNewswire/ Ryerson Holding Corporation (NYSE: RYI), a leading value-added processor and distributor of industrial metals, announced today that it has.
Ryerson Reports First Quarter 2021 Results
Strong asset management and expense leverage yield exceptional results which illuminate balance sheet achievements
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CHICAGO, May 5, 2021 /PRNewswire/
Ryerson Holding Corporation (NYSE: RYI), a leading value-added processor and distributor of industrial metals, today reported results for the first quarter ended March 31, 2021.
Q1 2021 Highlights:
Generated first quarter revenues of $1.15 billion, 13.6% higher than the year-ago period, driven by strong pricing and recovering metals demand. While gross margin contracted sequentially to 17.2% given transient LIFO accounting impacts, gross margin, excluding LIFO expanded during the quarter to 24.6%, an increase of 530 bps sequentially.
Exhibited exceptional working capital management, achieving a cash conversion cycle of 53 days, compared to 77 days for the first quarter of 2020.
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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
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CHICAGO, Feb. 24, 2021 /PRNewswire/
Ryerson Holding Corporation (NYSE: RYI), a leading value-added processor and distributor of industrial metals, announced today that after more than 36 years of excellence Kevin Richardson will retire from his position as President, South-East Region effective April 2, 2021. Kevin has served as president of the South-East region since 2007 and leaves the role having been an integral part of Ryerson s transformation and instrumental in its financial success. Eddie Lehner, Ryerson s President and Chief Executive Officer said, Kevin will be tremendously missed once he transitions fully to retirement; however, our succession planning process has been well developed to ensure continuity and continued progress and is a tribute to Kevin and the work we have thoughtfully done together over the years that we have a deep and talented executive group. Mr. Richardson will remain with Ryerson through at least the end of the calendar y
Ryerson Announces Appointment of James Claussen as Executive Vice President & Chief Financial Officer
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CHICAGO, Jan. 8, 2021 /PRNewswire/
Ryerson Holding Corporation (NYSE: RYI), a leading value-added processor and distributor of industrial metals, announced today the appointment of James J. Claussen, 47, to the position of executive vice president & chief financial officer (CFO), effective January 11. Mr. Claussen currently serves as the president of Central Steel & Wire Co. (CS&W), which was acquired by Ryerson in 2018. Mr. Claussen will continue to serve as the president of CS&W until his successor is named.
Eddie Lehner, Ryerson s President and Chief Executive Officer said, I could not be more delighted for Ryerson s stakeholders that Jim will become Ryerson s next executive vice president and chief financial officer. Jim took the road less traveled by developing a track record of accomplishment in our company and industry spanning