Ryerson’s Q3 revenue meets expectations despite challenging market By Investing.com

Ryerson Holding Corporation's Q3 results show a mixed bag for investors. Despite meeting revenue expectations with $1.16 billion (up 3% from last year), the company posted a loss of $0.46 per share, worse than predicted. Shipment volume remained steady at 485,000 tons, but metal prices rose 3% to $2,400 per ton. Ryerson's adjusted EBITDA surged 92% to $40 million, but dropped 10% from the previous quarter. Gross margins improved by 2 percentage points to 18.3%. The company plans to lower debt and maintain a strong liquidity buffer. Ryerson expects a 5-7% drop in shipments in Q4 and projects sales between $1.07-1.11 billion for Q1, with adjusted EBITDA in the $33-37 million range. The company also announced acquiring Olympic Steel, signaling potential changes.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.