Service Centers
May 7, 2016
Ryerson Posts Net Profit of $13.5 Million
Written by Sandy Williams
Ryerson Holding Corporation reported net income of $13.5 million for the first quarter of 2016, compared to a loss of $2.5 million for the first quarter of 2015. Revenues were $702.6 million for the first quarter of 2016, down 19.1 percent from the year-ago period due to a 19.4 percent decline in the average selling price per ton. Tons shipped increased 0.4 percent to 478,000 tons. Average selling price per ton was $1470 and average cost per ton was $1,611. Gross margin increased 21 percent compared to 17.3 percent in Q1 2015.
Carbon steel shipments for Q1 totaled 367,000 tons, up 7 percent from Q4 and down -0.3 percent year over year. Carbon steel sales of $354 million were up 2.3 percent from the previous quarter.
