Core Insights - Ryerson Holding Corporation reported a net income of $1.9 million for Q2 2025, a significant recovery from a net loss of $5.6 million in Q1 2025, indicating improved operational performance amidst challenging market conditions [9][24][29] - The company achieved revenue of $1.17 billion in Q2 2025, reflecting a 3.0% increase from Q1 2025, driven by a slight increase in average selling prices and tons shipped [6][24] - Adjusted EBITDA, excluding LIFO, reached $45.0 million in Q2 2025, up 37.2% from Q1 2025, showcasing effective cost management and operational execution [10][24][29] Financial Highlights - Revenue for Q2 2025 was $1,169.3 million, a decrease of 4.6% year-over-year from $1,225.5 million in Q2 2024 [4] - Tons shipped were 501,000, a slight increase of 0.2% from Q1 2025 but a decrease of 1.4% from Q2 2024 [4] - Average selling price per ton increased to $2,334, up 2.8% from Q1 2025 but down 3.2% year-over-year [4] Gross Margin and Expenses - Gross margin contracted to 17.9% in Q2 2025 from 18.0% in Q1 2025, primarily due to rising costs outpacing price increases [7] - Excluding LIFO, gross margin improved to 19.0%, up 40 basis points from Q1 2025 [7] - Warehousing, delivery, selling, general, and administrative expenses were $203.6 million, a 0.7% increase from Q1 2025, reflecting management's focus on controlling costs [8] Debt and Cash Flow - Total debt increased to $510.2 million, while net debt rose to $479.4 million, reflecting a sequential increase due to operational needs [11] - Cash provided by operating activities was $23.8 million, a recovery from a usage of $41.2 million in Q1 2025, indicating improved cash flow management [11][30] - The company ended Q2 2025 with global liquidity of $485 million, slightly down from $490 million at the end of Q1 2025 [11] Shareholder Returns - The Board of Directors declared a quarterly cash dividend of $0.1875 per share, payable on September 18, 2025, reflecting the company's commitment to returning value to shareholders [12] - During Q2 2025, the total cash return from dividends amounted to approximately $6.0 million [12] Outlook - For Q3 2025, Ryerson anticipates a decrease in customer shipments by 2% to 4% quarter-over-quarter, with expected net sales in the range of $1.14 billion to $1.18 billion [14] - Average selling prices are projected to increase by 1% to 3%, while adjusted EBITDA, excluding LIFO, is expected to be between $40 million and $45 million [14]

Core Insights - Ryerson Holding Corporation reported a net sales of $1.14 billion for Q1 2025, reflecting a 12.7% increase from Q4 2024, driven by strong transactional sales and market share gains [5][8] - The company experienced a net loss of $5.6 million, or $0.18 per diluted share, which is an improvement compared to a net loss of $7.6 million in Q1 2024 [8][27] - Adjusted EBITDA, excluding LIFO, was $32.8 million, showing a significant increase of 218.4% from Q4 2024 [8][25] Financial Highlights - Revenue for Q1 2025 was $1,135.7 million, down 8.4% year-over-year but up 12.7% quarter-over-quarter [3][5] - Tons shipped increased to 500,000, up 11.9% from the previous quarter and slightly up 0.6% year-over-year [3][8] - Average selling price per ton was $2,271, a 0.8% increase from Q4 2024 but down 8.9% year-over-year [3][8] Cost and Margin Analysis - Gross margin contracted to 18.0% in Q1 2025 from 19.0% in Q4 2024, primarily due to rising costs of goods sold [6][26] - Excluding LIFO, gross margin improved to 18.6%, up 220 basis points from the previous quarter [6][26] - Operating expenses increased by 7.2% to $202.1 million, driven by higher personnel-related expenses, but decreased by $14.7 million compared to the prior year [7][8] Debt and Liquidity - Total debt at the end of Q1 2025 was $497.3 million, with net debt at $463.7 million, reflecting a sequential increase [10][8] - Cash and cash equivalents rose to $33.6 million, a 21.3% increase from the previous quarter [10][8] - The company reported a cash conversion cycle of 66.5 days, indicating improved working capital management [10][8] Market Position and Outlook - Ryerson gained market share in the industry, with transactional sales increasing by 12% year-over-year [8][4] - The company anticipates Q2 2025 net sales to range between $1.15 billion and $1.19 billion, with average selling prices expected to rise by 3% to 4% [13][8] - Management emphasized ongoing improvements in operational productivity and capital investments aimed at long-term growth [4][5]

Core Insights - Ryerson Holding Corporation has elected Lt. Gen. Bruce T. Crawford, U.S. Army (Ret.), to its Board of Directors, enhancing its leadership team with expertise in information technology and cybersecurity [1][2]. Company Overview - Ryerson is a leading value-added processor and distributor of industrial metals, with operations in the United States, Canada, Mexico, and China, and has approximately 4,300 employees across over 110 locations [3]. - The company was founded in 1842 and continues to focus on optimizing its operational and financial performance [2][3]. Leadership Insights - Steve Larson, Chair of the Board, expressed confidence that General Crawford will provide valuable perspectives as Ryerson aims to improve its operational and financial performance targets [2]. - Eddie Lehner, President and CEO, highlighted General Crawford's extensive knowledge and leadership experience, which will be crucial for enhancing Ryerson's operating model and customer experience [2]. General Crawford's Background - General Crawford has a distinguished 34-year career in the U.S. Army, culminating as the Chief Information Officer, and has held various strategic roles in both military and civilian sectors [2]. - His previous roles include leadership positions at Jacobs Solutions Inc., where he focused on innovation and strategic development in a $5 billion division [2]. - He holds multiple advanced degrees and serves on several boards, indicating a strong commitment to leadership and governance [2].