Service Centers
May 16, 2017
AM Castle Announces Q1 Results and Restructuring Update
Written by Sandy Williams
AM Castle, a distributor of specialty metal and supply chain solutions, reported net sales in Q1 2017 of $136 million, a decrease of $28 million or 17 percent compared to Q1 2016 net sales of $164 million, which included the $27 million sale of inventory of the Houston and Edmonton locations.
Tons sold per day increased 5.7 percent compared to the same period last year. And excluding the tons sold from the Houston and Edmonton locations in the first quarter 2016, tons sold per day increased 10.6 percent, offsetting the positive impact of the increase in volumes as a 5.1 percent decrease in average selling prices as well as an unfavourable change in product mix.
