Service Centers
October 31, 2019
Ryerson’s Q3 Results Reflect Weak Steel Prices
Written by Tim Triplett
Results for Ryerson Holding Corp., the Chicago-based processor and distributor of industrial metals, suffered from declines in steel prices and demand during the third quarter, but company executives are hopeful for improved margins in the coming quarters.
Ryerson reported third-quarter revenues of $1.10 billion, a decrease of 11.6 percent compared to $1.25 billion in third-quarter 2018, with average selling prices down 8.1 percent and with tons shipped down 3.9 percent. Net income totaled $10.1 million in the third quarter, down from $77.5 million in the prior-year period.
