Service Centers
March 17, 2015
Ryerson Sees Margin Pressure in 2H 2014
Written by Sandy Williams
Ryerson Holding Company, a leading distributor and processor of metals, announced a net loss of $25.7 million for 2014. Revenues increased 4.7 percent last year to $3.6 billion, but $32.7 million in IPO-related expenses and costs associated with partial redemption of Senior Notes negatively impacted earnings.
“We showed year-over-year improvement in our key metrics for 2014, despite second half margin pressure driven by metal price deflation, high metal import levels and high service center level inventories,” said Mike Arnold, Ryerson’s president and chief executive officer. “For the year, we continued to effectively manage gross margins, expenses and working capital. And, the company captured a steady expansion in our targeted areas of processed plate and long products. Based on Adjusted EBITDA, excluding LIFO, we had one of our best performances in years.”
