Ryerson Q3 net income $35M, EPS $1.00; revenue down 19.2% YoY to $1.25B

Ryerson Holding Corp

2023-Q3 EPS reported $3.34 revenue$3,996,300,000

Net income $35.0M ($1.00 diluted EPS) vs $55.1M ($1.46) in Q3 2022; revenue $1.25B, down 19.2% YoY.
Adjusted EBITDA excl LIFO $45.0M, down 42.7% YoY; margin 3.6% vs 5.1% a year ago.
Generated operating cash flow $79.3M and free cash flow $56.9M; net leverage 1.4x.
Acquired Norlen Incorporated (value-added processor) subsequent to quarter-end; terms not disclosed.
Declared Q4 dividend $0.1850/share, a 1.4% increase from prior quarter, marking ninth consecutive quarterly increase.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Ryerson Holding Corp reported the third quarter ended September 30, 2023 results: revenue $1,246.7, net income $35.0, EPS $1.00.

Period: the third quarter ended September 30, 2023
Revenue: $1,246.7
Net income: $35.0
EPS: $1.00
Result: reported results

Exact text from the filing

$ in millions, except tons (in thousands), average selling prices, and earnings per share Financial Highlights: Q3 2023 Q3 2022 Q2 2023 YoY QoQ 9MO 2023 9MO 2022 YoY Revenue $1,246.7 $1,543.1 $1,343.5 (19.2)% (7.2)% $3,996.3 $5,035.4 (20.6)% Tons shipped 478 512 496 (6.6)% (3.6)% 1,493 1,564 (4.5)% Average selling price/ton $2,608 $3,014 $2,709 (13.5)% (3.7)%

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Source: SEC EDGAR

accession 0000950170-23-056450

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