Service Centers
November 7, 2019
Russel's Q3 Earnings Hurt by Declines in Steel, Energy Prices
Written by Tim Triplett
All three of Russel Metals’ business segments experienced challenging market conditions in the third quarter, notably energy products, as the Canadian distributor reported lower revenues and income.
Russel’s Q3 sales of $900 million (Canadian) were comparable to the prior quarter, but net income declined to $18 million, down from $31 million in Q2. In third-quarter 2018, Russel reported revenues of $1.1 billion and income of $68 million.
