Earnings ·
Ryerson reports Q3 net income of $32M and declares $0.1875 quarterly dividend
RYZRyerson Holding Corp
Ryerson Holding Corporation reported third-quarter revenue of $2.18 billion, a 65.9% increase year-over-year, driven by higher average selling prices and shipment volumes that reached their highest level in over five years on a same-store basis. Net income attributable to the company was $32.0 million, or $0.61 per diluted share, significantly exceeding guidance and more than doubling sequentially. Adjusted EBITDA, excluding LIFO, rose 185% year-over-year to $115.0 million. The company also announced that it has eclipsed its first-year synergy target of $40 million on an annualized run-rate basis, achieving approximately $52 million ahead of schedule. Concurrently, the Board declared a quarterly cash dividend of $0.1875 per share, payable December 17 to holders of record as of December 3. Ryerson Holding Corporation is a leading value-added processor and distributor of industrial metals.