Steel Mills
July 30, 2020
Ryerson Posts Loss for Second Quarter
Written by Sandy Williams
Metals processor and distributor Ryerson Holding Corp. recorded revenue of $772 million for the second quarter of 2020, a plunge of 35.9 percent from a year ago and 23.6 percent sequentially. Shipments fell 25.8 percent to 462,000 tons. Average selling price declined 13.6 percent to $1,671 per ton.
The company reduced warehousing, delivery, general and administrative expenses by 24.6 percent or $40.5 million, but it was not enough to prevent a net loss of $25.6 million for the quarter.
