Ryerson(US:RYI)2023-08-01 18:58Financial Performance - Ryerson achieved Net Income attributable to Ryerson Holding Corporation of $37.6 million with Adjusted EBITDA, excluding LIFO, of $70.1 million[5] - Q2 2023 Diluted EPS was $1.06 on revenue of $1.3 billion[10] - The company generated operating cash flow of $115.3 million and free cash flow of $69.1 million[5] - Q3 2023 revenue is guided to be $1.25 billion to $1.30 billion, with average selling prices decreasing 1% to 2% and shipments decreasing between 2% to 4%[22] Capital Allocation - Ryerson repurchased 1.4 million shares directly from an affiliate of Platinum Equity[5] - $104 million was repurchased in '23, with $50 million remaining of the $100 million authorization[30] - The company raised the quarterly dividend to $0.1825 per share for Q3'23, a 1.4% increase from the prior quarter[30, 77] - $50.4 million in share repurchases were completed in Q2 2023[37] Balance Sheet and Liquidity - Net Leverage ratio was 1.4x, with debt of $396 million and net debt of $366 million as of June 30, 2023[11] - Global liquidity remains historically strong at $790 million in Q2 '23[34] Market Trends - North American volumes experienced softening demand[21]