Ryerson Reports Strong Sales Despite Section 232 Concerns

Ryerson, a processor and distributor of metals, posted sales of $3.4 billion for 2017, a 17.7 percent increase year over year due to an 11.9 percent increase in the average selling price and a 5.1 percent gain in volume. Net income was $17.1 million for the year.

Gross margins decreased to 17.3 percent in 2017 compared to 20 percent in 2016. Margin compression in 2017 was driven by elevated import levels, pricing volatility and well supplied markets. Warehousing delivery, selling, and general and administrative expenses also jumped in 2017, increasing 8.3 percent year over year to $36.1 million