Service Centers
May 5, 2020
Russel Reports Down But Profitable First Quarter
Written by Tim Triplett
Russel Metals’ first-quarter results, while still profitable, reflect the downturn in the U.S. and Canadian economies and the weakness in the energy sector.
Russel generated net income of $11 million on revenues of $815 million in the quarter, compared to income of $34 million on revenues of $1 billion in the 2019 first quarter and a loss of $7 million in the fourth quarter of 2019 (all figures are Canadian dollars).
