Operations and Facilities - Ryerson Holding operates approximately 107 facilities in North America and four in China, serving around 40,000 customers across various manufacturing end-markets[17]. - International facilities in Canada, Mexico, and China contributed 10.0% to consolidated 2024 net sales, totaling $457.6 million[47]. - As of December 31, 2024, the company operates ninety-three facilities in the United States, with approximately 65% leased[144]. - Ryerson Canada has nine operational facilities, five of which are leased, with lease terms expiring at various times through 2032[147]. - Ryerson China operates four service and processing centers, all of which are owned and in good condition[149]. - Ryerson Mexico has five leased facilities, with lease terms expiring at various times through 2029[150]. - All operational facilities across the U.S., Canada, China, and Mexico are reported to be in good condition and adequate for current and anticipated operations[144][147][149][150]. Financial Performance - Ryerson Holding's total revenues for 2024 were $4.6 billion, representing a 10% decrease compared to 2023[179]. - The gross margin for 2024 contracted by 190 basis points, resulting in a net loss attributable to Ryerson Holding Corporation of $8.6 million, or $0.26 per diluted share[180]. - Average selling prices decreased by 9.7% in 2024, while tons shipped declined by 0.3% compared to 2023[180]. - Net sales for 2024 were $4,598.7 million, down 10.0% from $5,108.7 million in 2023[195]. - Operating profit fell to $31.5 million in 2024, or 0.7% of net sales, down from $228.1 million and 4.5% in 2023[202]. - Cash generated from operating activities decreased to $204.9 million in 2024 from $365.1 million in 2023, primarily due to lower net income[182]. - The effective income tax rate dropped to 1.4% in 2024 from 24.4% in 2023, mainly due to a low pretax loss in 2024[205]. - Total debt increased to $467.4 million at December 31, 2024, compared to $436.5 million at December 31, 2023, resulting in a debt-to-capitalization ratio of 36%[209]. Capital Expenditures and Investments - In 2024, Ryerson's capital expenditures reached $411.9 million, focusing on investments in processing equipment to improve margins and profitability[41]. - Capital expenditures for 2024 resulted in a net increase of $332.0 million, with anticipated expenditures of up to $50 million for 2025[54]. - The company plans to pivot from a three-year investment cycle to a capital expenditure rate that approximates depreciation for long-term sustainability[54]. - Ryerson's investments in 2024 included the ramp-up of operations at a 900,000-square-foot service center in University Park, IL, and the expansion of the Shelbyville, KY service center[177]. - The company acquired Production Metals for $44.1 million on August 1, 2024, enhancing its product offerings in the Northeast U.S.[185]. Customer and Market Dynamics - The company reported that no single customer accounted for more than 8% of sales, with the top 10 customers representing approximately 18% of total sales in 2024[32][44]. - Ryerson's diverse customer base includes industries such as metal fabrication, industrial machinery, and construction, reducing risk related to downturns in specific sectors[28][43]. - Seasonal demand fluctuations typically result in higher sales in the first two quarters compared to the third and fourth quarters[51]. - The company’s strategy focuses on improving customer experiences and expanding margins through increased fabrication business and transactional sales[175]. Risks and Challenges - The company faces significant risks due to economic and industry trends affecting customer profitability, which could negatively impact sales growth and operational results[80]. - The metals services industry is highly competitive, with pressure from online businesses and price transparency affecting revenues and gross margins[82][83]. - Changes in metals prices can significantly impact liquidity, net sales, gross margins, operating income, and net income, with potential adverse effects from rising costs and declining sales volumes[86]. - The company relies on a limited number of suppliers, with the top 25 suppliers accounting for approximately 77% of purchases, making it vulnerable to supply disruptions[92]. - Economic volatility and inflation could adversely affect financial performance, leading to lower revenues and increased costs[94][95]. - Changes in customer or product mix may lead to a decline in gross margin percentage, particularly if growth occurs with lower margin customers[89]. - Global metal overcapacity and imports may exert downward pressure on U.S. metal prices, negatively impacting sales and operational results[91]. - Disruptions in supply chains due to external factors could lead to significant delays and adversely affect customer relationships and operational results[87][88]. Employee and Workplace Initiatives - Approximately 4,000 employees are employed in North America and 200 in China, with 16% of plant employees being union members[106]. - Employee resource groups (ERGs) were established in 2024 to foster a welcoming workplace and support networking opportunities[70]. - Eight renewal contracts covering 154 employees were successfully negotiated in 2024, while five contracts covering 133 employees are set to expire in 2025[107]. Compliance and Regulatory Matters - The company is committed to compliance with environmental regulations and anticipates no substantial expenditures for compliance in the foreseeable future[56]. - The company may incur substantial costs related to compliance with environmental, health, and safety laws, which could increase operating costs and capital expenditures[113]. - The company operates under substantial influence from the Chinese government, which may impose new regulations affecting operations[102]. - The company may face challenges in verifying the origins of conflict minerals, potentially incurring significant compliance costs and facing competitive disadvantages[118]. Cybersecurity and Risk Management - The company is subject to cybersecurity risks that could significantly impact operations and financial results due to potential security breaches and system failures[105]. - Cybersecurity is a formal component of the company's risk management program, with ongoing assessments and audits to mitigate risks[140]. - The company maintains a cybersecurity incident response plan led by the CIO, involving third-party consultants and legal counsel as needed[142]. - The company has not identified any material risks from cybersecurity threats that could affect its business strategy or financial condition[143]. Shareholder and Stock Information - Platinum owns approximately 3,924,478 shares, representing about 12.3% of the company's outstanding common stock, allowing it to influence significant corporate decisions[136]. - The company has paid cash dividends in each quarter of 2024, but future payments are at the discretion of the Board of Directors[127]. - The company paid cash dividends of $0.1875 per share in each quarter of 2024[156]. - The company’s common stock is listed on the New York Stock Exchange under the symbol "RYI" since August 13, 2014[154]. - As of February 14, 2025, there were 7 stockholders of record for the company's common stock[155].

Core Points - Ryerson Holding Corporation will host a conference call to discuss its fourth quarter and full-year 2024 financial results on February 21, 2025 [1] - The earnings report will be released after market close on February 20, 2025 [1] - The company operates in the United States, Canada, Mexico, and China, and has approximately 4,200 employees and over 110 locations [3] Earnings Call Details - Date of the earnings call is February 21, 2025 [2] - Time of the call is scheduled for 10:00 a.m. ET [2] - Dial-in numbers are provided for U.S. & Canada (888-256-1007) and International (929-477-0448) [2] - Conference ID for the call is 6231309 [2] - An online replay of the call will be available for 90 days on the investor relations website [2]

Financial Data and Key Metrics Changes - In Q3 2024, Ryerson reported revenues of $1.13 billion, which was 8.1% lower than Q2 2024, driven by lower volumes and average selling prices [25][14] - Adjusted EBITDA excluding LIFO was $21 million, down from $42.6 million in the prior quarter, with a net loss of $6.6 million or $0.20 loss per diluted share compared to a net income of $9.9 million in the previous quarter [28][17] - Gross margin contracted by 30 basis points to 17.9%, with a further contraction of 110 basis points to 16.3% when excluding LIFO [25][26] Business Line Data and Key Metrics Changes - Ryerson's sales volume of 485,000 tons was 4.5% lower quarter-over-quarter, influenced by a slow demand environment and extreme weather events [15][14] - The average selling price per ton decreased by 3.7% quarter-over-quarter, with carbon products experiencing a 6% decline in average selling prices [14][28] - The OEM contract business underperformed relative to the spot bill and material transactional business [12] Market Data and Key Metrics Changes - North American industry volumes decreased by 5.1% compared to the prior three months, while Ryerson's North American shipments decreased by 5.5% [15] - Year-to-date 2024 industry volumes for the Metal Service Center Institute were down 3.2%, while Ryerson's volumes were down 1.4%, indicating market share gains across product lines [16] Company Strategy and Development Direction - Ryerson is focused on completing its investment cycle, which is expected to enhance productivity and customer experience [23][29] - The company is implementing a cost reduction plan aimed at reducing operating expenses by $25 million during 2024, with an annualized target of $40 million [22] - Investments in modernization and automation are expected to drive better customer experiences and improve asset utilization [23][29] Management's Comments on Operating Environment and Future Outlook - Management noted that the current downturn in the manufacturing sector has lasted 25 months, but signs of improvement are emerging as cyclical drivers are expected to improve [8][10] - The company anticipates a challenging Q4 2024, with expected revenues between $1 billion to $1.04 billion and a forecasted loss per share of $0.53 to $0.47 [18] - Management expressed optimism about 2025, expecting better conditions and opportunities for cash flow generation [35] Other Important Information - Ryerson generated $135 million of cash flow from operations in Q3 2024, ending the period with $522 million of total debt [19] - The company returned $42 million to shareholders in Q3, including $36 million in share repurchases and $6 million in dividends [24] - Ryerson's available global liquidity decreased to $491 million from $585 million in the previous quarter [19] Q&A Session Summary Question: How much of the $60 million in cost savings has already been realized? - Management indicated that the heavy lifting for cost reductions has been done, with further optimizations expected as automation is implemented [32] Question: Are there opportunities for further working capital release in Q4? - Management confirmed that there are opportunities for additional working capital release, with expectations for improved cash flow in 2025 [35] Question: What is the outlook for reorganization expenses? - Management expects reorganization expenses to trend down, estimating between $8 million and $12 million for Q4 [42] Question: Can you discuss the investment efforts at Shelbyville? - Management highlighted that investments at Shelbyville will enhance operational efficiency and competitive differentiation in the region [44][46] Question: What does the Production Metals acquisition bring to Ryerson? - The acquisition provides an entry point into aerospace and defense markets, complementing Ryerson's existing offerings [50][52] Question: How is the new ERP system implementation progressing? - Management reported that the worst of the ERP conversion challenges are over, with expectations for optimization and benefits to customer service moving forward [56]

Core Insights - Ryerson Holding Corporation reported a net loss of $6.6 million for Q3 2024, with a diluted loss per share of $0.20, reflecting a significant decline from a net income of $9.9 million in the previous quarter [2][6][16] - Revenue for Q3 2024 was $1.13 billion, down 8.1% from Q2 2024, driven by a decrease in tons shipped and average selling prices [2][5][16] - The company generated operating cash flow of $134.6 million, indicating strong cash management despite the loss [2][7][16] Financial Performance - Total revenue for Q3 2024 was $1,126.6 million, with 485,000 tons shipped and an average selling price of $2,323 per ton [2][3][16] - Gross margin decreased to 17.9% from 18.2% in Q2 2024, with adjusted EBITDA (excluding LIFO) at $21.0 million, down from $42.6 million in the previous quarter [3][5][6] - The company reduced inventory by $80.8 million on a FIFO cost basis compared to Q2 2024 [2][3] Cost Management and Shareholder Returns - Ryerson is progressing towards $60 million in annualized cost reductions from operating expenses [2][4] - The company returned $42.0 million to shareholders in Q3 2024, including $36.0 million in share repurchases and $6.0 million in dividends [2][8] - A quarterly cash dividend of $0.1875 per share was declared, consistent with the previous quarter [2][8] Debt and Liquidity - As of September 30, 2024, total debt was $522 million, with net debt at $487 million, showing a slight decrease from the previous quarter [2][7][16] - Ryerson's net leverage ratio was 3.8x, above the target range of 0.5x – 2.0x, but below the 10-year average [7][16] Market Outlook - For Q4 2024, Ryerson anticipates a seasonal and counter-cyclical decrease in customer shipments of 8% to 10%, with expected net sales between $1.00 billion and $1.04 billion [9][16] - Average selling prices are projected to fluctuate between a decrease of 1% and an increase of 1% [9][16]

CHICAGO, Oct. 8, 2024 /PRNewswire/ -- Ryerson Holding Corporation (NYSE: RYI), a leading value-added processor and distributor of industrial metals, announced today that it will host a conference call to discuss its third quarter 2024 financial results for the period ended September 30, 2024 on Wednesday, October 30th at 10 a.m. Eastern Time. The live online broadcast will be available on the Company's Investor Relations website, ir.ryerson.com. Ryerson will report earnings after the market closes on Tuesda ...

Ozgur Donmaz Ryerson Holding Corporation (NYSE:RYI) recently announced a number of transformative turnaround acquisitions, which could bring new fabrication and processing capabilities. These efforts in combination with ongoing restructuring efforts, stock repurchases, and increases in the book value per share will most likely accelerate the demand for the stook. Besides, the fact that the company works with a diverse range of clients in different industines, including the electric vehicles and renewable en ...

CHICAGO, Aug. 2, 2024 /PRNewswire/ -- Ryerson Holding Corporation (NYSE: RYI), a leading valueadded processor and distributor of industrial metals, announced today its acquisition of Production Metals, LLC ("Production Metals"), a distributor of aluminum, stainless, and specialty steels. Based in Monroe, Connecticut, Production Metals serves New England and the surrounding area with bar, tube, sheet, and plate products along with precision sawing, lasering, and water jet cutting. "On behalf of all Ryerson S ...

Liquidity & Debt Management Share Repurchases and Authorization. Ryerson repurchased 647,330 shares for $14.0 million in the open market during the second quarter of 2024. Ryerson made these repurchases in accordance with its share repurchase authorization, which allows the Company to acquire up to an aggregate amount of $100.0 million of the Company's common stock through April of 2025. As of June 30, 2024, $24.3 million of the $100.0 million remained under the existing authorization. On July 30, 2024, the ...

| --- | --- | --- | --- | --- | --- | |-------------------|-------|-------|-------|-------|----------------| | | | 2024 | | 2023 | Year-over-year | | Carbon Steel | $ | 1,301 | $ | 1,375 | (5.4)% | | Aluminum | $ | 549 | $ | 607 | (9.6)% | | Stainless Steel | $ | 574 | $ | 716 | (19.8)% | Average Selling Prices (per ton) 2024 2023 Year-over-year | --- | --- | --- | --- | --- | --- | |-------------------|-------|-------|-------|-------|---------| | Carbon Steel | $ | 1,668 | $ | 1,749 | (4.7)% | | Aluminum | ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number 001-34735 RYERSON HOLDING CORPORATION (Exact name of registrant as specified in its charter) DELAWARE 26-1251524 (State or other jurisdiction ...