Ryerson Q2 net income $9.9M, EPS $0.29, revenue $1.23B; COO Burbach to retire Dec 31

Ryerson Holding Corp

2024-Q2 EPS reported $0.07 revenue$2,464,700,000

Net income $9.9M, diluted EPS $0.29 on revenue of $1.23B from 508K tons shipped at avg $2,412/ton.
Reduced operating expenses by $17.8M QoQ; annualized cost savings target raised to ~$60M from $40M.
Returned $20.4M to shareholders: $14M buybacks and $6.4M dividends; buyback auth increased $50M, extended to Apr 2026.
Ended Q2 with $525M debt, $497M net debt; inventory down $107.1M FIFO vs Q1.
COO Michael J. Burbach retiring Dec 31, 2024; to receive 10,000 LTIP shares and service requirement waiver.

item 2.02 item 5.02 item 9.01

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Departed

Michael J. Burbach

Chief Operating Officer

RYZ · Ryerson Holding Corp

Effective: 2024-12-31
Filed: July 30, 2024, 7:59 PM ET

On July 30, 2024, Michael J. Burbach, age 63, notified the Company of his intent to retire from his position as our Chief Operating Officer, effective December 31, 2024.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Michael J. Burbach departed as Chief Operating Officer at Ryerson Holding Corp.

Action: retire
Role: Chief Operating Officer

Exact text from the filing

On July 30, 2024, Michael J. Burbach, age 63, notified the Company of his intent to retire from his position as our Chief Operating Officer, effective December 31, 2024.

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Ryerson Holding Corp filing history →

Source: SEC EDGAR

accession 0000950170-24-087962

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